VVC Reports FY'23 (YE Jan'24) Results
- May 29, 2024
- 1 min read
VVC Exploration reported its financial results for year ending 31st Jan'24. VVC holds an 11.9% stake in Proton Green, a helium producer from the St. Johns Field, Arizona. VVC reported its own helium sales of US$12.5k in the quarter, however there was no breakdown of helium sales. Proton Green is selling its helium at ~US$480/mcf. VVC's other helium project - Syracuse in Kansas is still not producing. The next step is to allow the completed wells to flow and stabilise, and to evaluate the results before commencing further work. The Company expects the Syracuse Extension Kansas to be the primary focus of PHC’s exploration and production efforts in 2024: permitting is in progress for the first test well. The company ended the year with a net loss of US$1.9mm, cash balance of US$3.3mm, and total assets of US$18.6mm.