HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) has provided an update on its Rudyard Project in Montana as it moves closer to first helium production.
The final long-lead item, a PSA compressor, is now en route to site and expected to arrive within three days. Commissioning will begin immediately upon arrival and is estimated to take four to five business days.
All preparatory work for the compressor has been completed off-site to minimise delays.
Helix also noted it had acquired an additional 1,363 acres at Rudyard.
Drilling at the Inez#1 well has been temporarily paused due to severe winter weather, with operations scheduled to resume after the holiday season.
“We are excited to soon become the first helium producer in the State of Montana & the opportunities that production will present for the company,” said chief executive Bo Sears.
“The team remain laser focused on maintaining the momentum built up since the IPO and I look forward to updating the market on the anticipated production milestone."