Quantum Helium Ltd (AIM:QHE) shares soared some 26% higher on Friday, after it cheered "a defining moment" as it announced results from an independent Sproule ERCE resource report confirming gross recoverable helium of 0.97 billion cubic feet at the Coyote Wash Project in Colorado.
Combined with the Sagebrush project, the company now has 1.1 billion cubic feet of independently verified 2U gross helium resources across its Colorado portfolio. Sproule ERCE also identified up to 750,000 barrels of recoverable oil at a mapped Ismay prospect.
"With Sproule ERCE now independently evaluating more than one billion cubic feet of 2U gross helium across Sagebrush and Coyote Wash, we have established ourselves among the larger independently certified helium companies on the London market," said chief executive Howard McLaughlin.
"Few companies can point to two independently evaluated helium projects, a drilled and cased discovery well ready for testing, and a completed seismic acquisition programme that could further expand our resource base."
McLaughlin added: "[It] gives us tremendous confidence in the scale and quality of our portfolio.
"It validates our disciplined technical work, strengthens our strategic position, and sets the foundation for a highly active 2026... with meaningful project milestones ahead, shareholders can look forward to a sustained period of value-building newsflow."
In London, Quantum Helium shares were up 26.23% changing hands at 0.04p.