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HEVI Posts Q2'23 Results

Helium Evolution released its Q2'23 results, highlighting its progress in developing helium assets in southern Saskatchewan. HEVI realised a net loss of C$0.3mm while maintaining a working capital position of C$8.8mm, cash position of C$7.7mm and total assets worth C$13mm. The company had 2 unsuccessful wells this quarter but the expansion of its seismic database to 2,000km is aiding in identifying prospective helium targets, supported by an ongoing partnership with North American Helium. NAH extended its spud date for the next farmout well to November 1, 2023.

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