Helix Exploration (AIM: HEX) Begins Trading with £7.5mm IPO
- Apr 8, 2024
- 5 min read
Helix Exploration, a new helium exploration company, commenced trading on the AIM market of the London Stock Exchange under the ticker HEX. The company successfully raised £7.5mm from an oversubscribed placing, achieving a market capitalisation of £12.2mm. Helix will use these funds for a scoping study and appraisal drilling at the Ingomar Dome project in Montana, USA. This project spans 16.5k acres within the Montana Helium Fairway and has identified gas in all target reservoirs, with an unrisked prospective helium resource of 2.3bcf. Helix aims to fast-track the development of Ingomar, with appraisal drilling targeted for Q3'24 and initial helium production by Q4'25. Separately, in an interview with Ian King, CEO Bo Sears discussed the helium development plan at Montana. He also gave an overview of the helium market and its use in different applications.
