Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF, FRA:9K3) shares were on the front foot, rising around 11%, changing hands at 0.6p on Thursday.
This was after it announced that its 50%-owned Galactica Project has secured its first formal helium offtake commitment, giving the Colorado development a commercial bridge from early production to longer-term sales arrangements.
The AIM-listed company said operator Blue Star Helium has entered a three-month purchase and sales agreement with a major US industrial gases buyer for all helium produced at the Pinon Canyon Plant. The agreement runs until 31 August 2026.
Commercial terms, including the counterparty and agreed price, were not disclosed, though Helium One said pricing is fixed for the term and broadly reflects the US helium spot market.
The buyer was described as a publicly listed US corporation with a multi-billion-dollar market capitalisation, investment-grade credit rating and a prominent position in global industrial gases distribution.
Helium One said the short-term deal complements trailer-by-trailer spot sales of initial output and comes as the plant continues commissioning and optimisation following the start of integrated operations in March 2026.
Blue Star is also in advanced discussions with regional processing and end-user parties over the commercialisation of co-produced CO2.
"With growing pressure on supplies, the chances of the JV securing better prices for a long-term offtake agreement are substantially improved. Investors will look forward to further details on production rates and details on pricing," said broker Panmure Liberum, reiterating its 'buy' advice and 2.9p price target.
---UPDATES TO ADD SHARE PRICE AND BROKER COMMENT---
