20th Jun 2025 12:01
(Alliance News) - Helix Exploration PLC on Friday said it is in a good position to become a strategic new supplier of helium to the US market, as it posted a narrowed interim loss.
The London-based helium miner focused on Montana in the US said pretax loss narrowed to GBP517,000 in the six months to March 31, from GBP713,000 a year ago.
Chair David Minchin said: "Since our initial public offering just over twelve months ago, Helix has made remarkable progress in executing our strategic vision and delivering value to our shareholders. This momentum reflects not only the quality of our assets but also the dedication and expertise of our management team. Our approach is simple: build scale efficiently, develop resources strategically, and deliver near-term cash flow. With first production approaching and a strengthened platform for continued growth, Helix is well-positioned to become a strategic new supplier of helium to the US market."
Last week Thursday, Helix announced the start of the mobilisation of rig and equipment to Inez #1 drill location at the Rudyard project in Montana.
Chief Executive Officer Bo Sears said at the time: "Mobilisation of drilling equipment to Inez #1 marks the rapid acceleration of the development of the Rudyard project. The fourth production well is strategically positioned to extend proven helium reserves and prepare increased helium flow ahead of first production. Expanded production increases near-term cash flow, reduces the timeline to full-field production and delivers stronger project economics and long-term value creation."
Helix shares were 1.2% lower at 24.70 pence each on Friday just before noon in London.
By Tom Budszus, Alliance News slot editor
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