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Avanti Helium's FY22 Results

Avanti Helium released its year end results and outlook for the coming year. Avanti ended 2022 with a net loss of C$8.3mm, cash position of C$2.3mm, and total assets worth C$30.3mm. The company was issued permits to drill seven wells in the Greater Knappen Property, of which three wells were drilled in fiscal year ended 2022. Drill stem tests on the Rankin 01-17 well indicated potential commercially viable helium concentrations, while open hole logging of WNG 11-22 confirmed excellent reservoir quality in all three target zones.

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