North American Helium (NAH) is constructing two new helium purification facilities in Saskatchewan. The Cadillac plant expansion near Ponteix will increase production by 33% and is expected to be operational by Q2'24. The new Antelope Lake facility, about 50km west of Swift Current, will have an initial production capability of 50mmcf/y, with high helium concentrations suggesting promising future economics, set to come online in Q3'24. In 2023, NAH produced 121mmcf from its wells in Saskatchewan and based on the current production rate, the company is on a trajectory to produce 150mmcf in 2024. These additions will bring NAH's total facility count to nine, and enhance the company's production capability to ~210mmcf/y, equating to about 7% of North America's helium supply. This expansion comes at the perfect time given the latest discoveries by NAH's JV with Helium Evolution in Saskatchewan. These facilities will aid in quickly ramping up production. Furthermore, NAH has expanded its credit facility to C$150mm, with the inclusion of RBC and Desjardins.
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