Avanti Helium Q2'24 Results
- AKAP
- Aug 29, 2024
- 1 min read
Avanti Helium reported its Q2'24 results where it highlighted its focus on constructing the Sweetgrass Multi-Well Processing Plant (MWPP) in Montana and associated facilities, with ancillary assets. During the quarter, Avanti secured all necessary permits and a 25-year surface lease on 40 acres in Montana, valued at C$311k. Avanti has also entered into a 7-year take-or-pay agreement with IACX Resources, which will build and operate the helium processing plant, expected to accelerate production and cash inflows. During the quarter it invested C$0.7mm into construction of the MWPP and related facilities. At end Q2'24, Avanti had a net loss of C$1.1mm, cash position of C$211k and total assets of C$28mm. As of August 30, 2024, Avanti had $334,088 in cash and cash equivalents on hand.