HeLIX Exploration PLC (AIM:HEX, OTCQB:HHEXF) used its full-year results to spotlight its move into production at the Rudyard project, in Montana, where it has made the timely transition from explorer at a time when helium supplies are squeezed.
"The strategic importance of domestic helium production has never been more apparent. The ongoing conflict in the Middle East and Iran's effective closure of the Strait of Hormuz since early March 2026 has removed approximately one-third of global helium supply from the market," chief executive Bo Sears highlighted in his written comments.
"Helix's position as a domestic North American producer, with no dependence on Gulf shipping routes or geopolitically exposed infrastructure, is a material and strategic advantage.
"We are in active dialogue with customers seeking reliable, secure supply, and we expect this environment to be constructive for both pricing and offtake negotiations in the near term."
Helix's processing facility is operational, with Rudyard coming online for first helium-production after the reporting period covered by Thursday's financial results.
For the year ended 30 September 2025, Helix reported no revenue and a total operating loss of £1.86 million, compared with £2.17 million in the prior period.
Cash and cash equivalents stood at £2.73 million at year-end, down from £4.96 million, after the group invested heavily in plant and equipment and exploration assets as it moved Rudyard toward production.
Helix raised £4.5 million in June 2025 to bring the group into production (which began in February), then secured a further £2.2 million in March 2026 to bolster working capital while it negotiates offtake agreements.