North American Helium (NAH) brought two additional helium purification facilities online in late 2022 and January 2023, in Saskatchewan, Canada. Current production is 110 mmcf/y across 5 facilities, doubling production over 2022. NAH contracted its production from its latest facility on long-term agreements with Linde but also is now expanding its transportation assets and offering spot volumes to customers, which we believe should enable it to achieve higher spot pricing. NAH will be marketing an additional 60mmcf in 2023. NAH has also secured a ~C$75mm credit facility (expandable to C$100mm), having ended 2023 with no debt, creating financial flexibility for growth.
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