Renergen Receives Bids upto US$875/mcf for Helium

Renergen Limited has received bids up to US$875/mcf for helium to be picked up from its plant, implying a delivered price into US or Asia of well over US$1,000/mcf taking into account logistics costs and the distributor’s margin. This provides a rare insight and much needed transparency into the current market price for helium, highlighting the tight global market. Renergen made this surplus liquid ISO of helium available to the market outside of existing contracts through Argonon, a partner to Renergen in helium distribution. Filling will take place on 5th October.

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Renergen has successfully completed the placement of 4.3mm shares at R24.64/sh or A$2.14/sh (a 10% discount to the VWAP) to raise R107.6 million (~US$6.3mm). The proceeds will be used for working cap