Total Helium Q2'24 Results
- AKAP
- Jul 30, 2024
- 1 min read
Total Helium released its Q2'24 results, highlighting a key agreement with Butler Minerals to cover drilling costs for the next five Shinarump wells in the Pinta South Project, with an estimated expenditure of C$200k/well. Despite past issues with irreparably damaged wells, Total Helium remains optimistic about opportunities in Northeastern Arizona. The company has funded ~US$2mm towards the capital development program as of Mar’24. Additionally, an impairment of E&E assets amounting to C$3.3mm was recorded. The company ended the quarter with a net loss of C$6.9mm, cash position of C$85k and total assets of C$16.5mm.