Latest news with #PulsarHeliumInc
Miami Herald
29-05-2025
- Business
- Miami Herald
Pulsar Announces Financial and Operating Results for the Six Months Ended March 31, 2025
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS. CASCAIS, PORTUGAL / ACCESS Newswire / May 29, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), the helium project development company, is pleased to announce its financial and operating results for the six months ended March 31, 2025 (the "Period"). Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited consolidated financial statements and related management's discussion and analysis (the "MD&A") for the Period, which are available on the Company's website at and the Company's SEDAR+ profile at All figures are in US dollars ("US$") unless otherwise stated. The Company's primary focus is the exploration and development of the Topaz Project, located in northern Minnesota, USA, close to the Canadian border. The Company's assets within the Topaz Project comprise leases of private mineral rights over a total of 5,979 gross acres in Minnesota, where the State of Minnesota passed new helium-targeted legislation in May 2024 providing increased certainty of developing the project. The Topaz Project comprises primarily helium (with the gas not being a by-product of hydrocarbon production), representing a more sustainable development project. Operational Highlights in the Period On January 13, 2025, the Company announced the successful completion of the deepening operation for the Jetstream #1 appraisal well. The drilling operation reached total depth ("TD") of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and February 3, 2025, the Company announced the successful completion of a drilling operation at the Jetstream #2 appraisal well, reaching total depth of 5,638 feet (1,718 metres) on February 1, 2025. Mud log data reported helium levels up to 3.5%, which were proved to be contaminated with air and uncontaminated samples, once collected, are expected to report higher and truer February 20, 2025, the Company announced that down-hole testing equipment is scheduled to mobilise to site on February 24, 2025. The tools consist of an optical televiewer and LithoScanner, both of which will be run on both the Jetstream #1 and #2 appraisal wells. These tests will further refine the Company's understanding of the reservoir properties and production April 28, 2025, the Company announced that pressure and flow testing operations were conducted on the Jetstream #1 and Jetstream #2 appraisal wells with well-head pressure at both being highly encouraging, reaching 122 pounds per square inch gauge ("PSIG") at Jetstream #1 and 151 PSIG at Jetstream #2. Well-head pressure at Jetstream #2 is greater than Jetstream #1 was in February 2024 (145 PSIG) when it achieved a flow rate of 821,000 cubic feet per day, under well-head flow testing activities, it was discovered that drilling fines (rock dust) created by the air drilling method (that pulverizes the rock) were present within fractures and partially coating the wellbore wall. The creation of drilling fines is commonplace when air drilling. Although gas flow may be restricted, pressure communication still occurs (albeit also constrained) which is why the Company was unaware of the restricted flow until testing Company has performed a preliminary clean-up on both wells to mobilise the drilling fines, achieving improved flow results, demonstrating that the drilling fines are mobile and can be removed. Despite the currently restricted conditions, stable and consistent flow rates were achieved with both wells flowing natural flow and on flow testing of both wells will commence when clean-up is complete and the drilling fines have been removed. Financial Summary for the Period Loss for the Period was $7,118,554 and comprises:Administration costs of $1,955,208 (which includes non-cash share-based compensation of $299,943 and non-cash depreciation of $26,489).Exploration and evaluation expenditures of $5,771,409 relate to the deepening of Jetstream #1 and drilling of Jetstream #2 at the Topaz project as described fees of $355,003 related to Admission.A non-cash gain on revaluation of warrant liability of $963, and Cash Position: $1,659,888 at March 31, October 18, 2024, the Company's common shares commenced trading (the "Admission") on the AIM market of the London Stock Exchange plc ("AIM") under the symbol PLSR. Concurrent with Admission, the Company completed of a total gross funding of £5 million which included the £1.125 million cornerstone investment completed in August January 9 and March 21, 2025, the Company completed a brokered private placement, in two tranches, for gross proceeds of $2,427,498 which included participation from high net worth and institutional investors from the USA, including University Bancorp, Inc. ("University Bancorp") that now holds 4.93% of the issued and outstanding common shares of the April 2025, the Company entered into a project financing facility line of credit note with University Bancorp, pursuant to which University Bancorp has extended the Company a $4,000,000 project finance facility (the "Facility"). In April and May, 2025, the Company drew, in aggregate, $2,000,000 of the Facility. Selected Financial Results * During the Period, the Company recorded a non-cash gain on revaluation of warrant liability of $963,066 (2024 - loss of $13,037,216) Thomas Abraham-James, President & CEO of Pulsar, commented: "We are extremely encouraged by the progress made at the Topaz Project during the first half of 2025. The successful drilling and flow testing of both Jetstream #1 and #2 appraisal wells, along with the positive well-head pressures recorded, reinforce the significant potential of our Topaz primary helium project. With the support of recent project financing and ongoing technical advancements, Pulsar is well-positioned to unlock further value for our shareholders and advance towards sustainable helium production." Marketing Engagement and Clarification on Marketing Engagement The Company also announces the engagement of Oak Hill Financial Inc. (the "Oak Hill Engagement"). Oak Hill Financial Inc. ("Oak Hill") is a Toronto, Ontario, Canada based capital market advisory firm that provides advisory and capital markets services to private and public growth companies. The Company signed an agreement with Oak Hill on May 28, 2025, for a monthly fee of CAD$7,200, to be paid in cash, with the services commencing on June 2, 2025 (the "Effective Date"), and expiring 3 (three) months from the Effective Date, after which the agreement will renew on a month to month basis unless terminated by either party with five (5) days' notice. Oak Hill has advised the Company that it does not hold any securities of or other interest in the Company. Oak Hill and the Company are unrelated and unaffiliated entities. The Oak Hill Engagement remains subject to the approval of the TSX Venture Exchange. Further to the Company's news release dated April 7, 2025 which included an announcement of the Company's engagement of VSA Capital Limited ("VSA Capital"), the Company advises that it engaged VSA Capital on April 4, 2025, and not on April 1, 2025, as previously disclosed. The Company also clarifies that it paid VSA Capital the £5,000 annual cash fee in full and in advance of VSA Capital providing services to the Company. All other terms relating to the engagement between the Company and VSA Capital remain unchanged and are as previously disclosed. On behalf Pulsar Helium Inc."Thomas Abraham-James"President, CEO and Director Further Information: Pulsar Helium 1 (218) 203-5301 (USA/Canada)+44 (0) 2033 55 9889 (United Kingdom) Strand Hanson Limited(Nominated & Financial Adviser, and Joint Broker)Ritchie Balmer / Rob Patrick / Richard Johnson+44 (0) 207 409 3494 OAK Securities*(Joint Broker)Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)info@ 203 973 3678 BlytheRay Ltd(Financial PR)Megan Ray / Said Izagaren+44 207 138 3204 pulsarhelium@ *OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority. About Pulsar Helium Inc. Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Qualified Person Signoff In accordance with the AIM Note for Mining and Oil and Gas Companies, the Company discloses that Thomas Abraham-James, President, CEO and Director of the Company has reviewed the technical information contained herein. Mr. Abraham-James has approximately 20 years in the mineral exploration industry, is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM CP (Geo)), a Fellow of the Society of Economic Geologists and a Fellow of the Geological Society of London. Forward-Looking Statements This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the completion of the private placement, the independent resource estimate for helium and CO2 at Topaz; the potential of CO2 as a valuable by-product of the Company's future helium production; the potential impact of deepening Jetstream #1 and the potential impact of such deepening on the next iteration of the resource estimate; the potential impact of the results of Jetstream #2; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals. No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance. Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates and the potential for delays in the commencement of drilling; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus dated July 31, 2023 filed on the Company's profile on Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release and interview are expressly qualified in their entirety by this cautionary statement. SOURCE: Pulsar Helium Inc.
Yahoo
06-05-2025
- Business
- Yahoo
Pulsar Helium Announces Results of 2025 Annual General and Special Meeting of Shareholders
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS. CASCAIS, PORTUGAL / / May 6, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), a primary helium development company, is pleased to announce the results of matters voted on at the Company's Annual General and Special Meeting (the "Meeting") of shareholders held on May 2, 2025. The nomination of Matthew Baumgartner as a nominee director was withdrawn prior to the Meeting, and with no nominations from the floor at the Meeting, the resolutions fixing the number of directors at seven (7) were corrected to six (6), and the votes for Matthew Baumgartner's appointment were withheld. The number of directors of the Company wase fixed at six (6). Detailed results of the vote are as follows: Votes For % Votes For Votes Against % Votes Against 74,942,666 99.55% 337,536 0.45% The nominees listed in the Company's management information circular dated April 2, 2025, (the "Information Circular") were re-elected as directors of Pulsar. Detailed results of the votes for the election of directors are as follows: Name of Nominee Votes For % Votes For Votes Withheld % Votes Withheld Neil Herbert 73,061,483 99.94% 47,095 0.06% Thomas Abraham-James 60,711,487 83.04% 12,397,091 16.96% Jón Ferrier 73,025,730 99.89% 82,848 0.11% Doris Meyer 72,990,588 99.84% 117,990 0.16% Brice Laurent 73,071,039 99.95% 37,539 0.05% Dan O'Brien 73,016,418 99.87% 92,159 0.13% Geoffrey Crow did not stand for re-election and accordingly, as at the close of the Meeting, is no longer a director of Pulsar. Davidson & Company LLP, Chartered Professional Accountants, were re-appointed as auditor of the Company until the next annual general meeting of shareholders of the Company. Detailed results of the vote are as follows: Votes For % Votes For Votes Withheld % Votes Withheld 75,205,146 99.90% 75,056 0.10% The renewal of the Company's Stock Option Plan, as described in the Information Circular, was approved by the shareholders of the Company by ordinary resolution. Detailed results of the vote are as follows: Votes For % Votes For Votes Against % Votes Against 68,335,665 93.47% 4,772,912 6.53% The alteration of the Company's articles to include disclosure notice requirements and restrictions on a default share, as described in the Information Circular, was approved by the shareholders of the Company by ordinary resolution. Detailed results of the vote are as follows: Votes For % Votes For Votes Against % Votes Against 77,584,565 99.28% 524,013 0.72% The Company also announces the appointment of Brad Cage as Vice President Engineering, effective May 2, 2025. Brad Cage has 25 years of experience in the oil and gas industry-including roles at Marathon Oil, EOG Resources, Devon Energy, and Enerquest Oil & Gas. Mr. Cage has overseen engineering activities across multiple basins and contributed to improvements in nearly every major play in the United States. Mr. Cage has played a key role in operational design, production optimization, and the development of new plays, as well as serving as a Reserves and Capital Budget Coordinator. Mr. Cage has conducted extensive research on reservoir rock and fluid interactions, and is recognized for his leadership in traditional and viscoelastic fluids testing and is highly experienced in reservoir analysis. Mr. Cage holds a Bachelor of Science in Petroleum Engineering from Texas A&M University, is a licensed Professional Engineer in Oklahoma, and is a published co-author on papers related to integrated reservoir characterization and viscoelastic fluid testing methods. On behalf Pulsar Helium Inc."Thomas Abraham-James"President, CEO and Director Further Information:Pulsar Helium 1 (218) 203-5301 (USA/Canada)+44 (0) 2033 55 9889 (United Kingdom) Strand Hanson Limited(Nominated & Financial Adviser, and Joint Broker)Ritchie Balmer / Rob Patrick / Richard Johnson+44 (0) 207 409 3494 OAK Securities*(Joint Broker)Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)info@ 203 973 3678 BlytheRay Ltd(Financial PR)Megan Ray / Said Izagaren+44 207 138 3204 pulsarhelium@ *OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority. About Pulsar Helium Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Pulsar Helium Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
02-04-2025
- Business
- Yahoo
Pulsar Helium Announces the Commencement of Well-Testing at the Topaz Helium Project in Minnesota
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS. CASCAIS, Portugal, April 02, 2025 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ('Pulsar' or the 'Company'), a leading helium project development company, is pleased to announce the commencement of well-testing activities at Jetstream #1 and Jetstream #2 at its flagship Topaz project in Lake County, Minnesota. Well-testing activities are expected to occur in two sequential phases, the initial phase will focus on flow testing at the Jetstream #1 and Jetstream #2 appraisal wells, followed by a second phase of extended pressure build-up monitoring. The initial phase of flow testing began on April 1, 2025, and is expected to continue over approximately four weeks. The second phase will consist of extended pressure build-up monitoring through the end of June 2025. The well-testing program data is needed to prepare a resource update. Thomas Abraham-James, President & CEO of Pulsar, commented: 'The commencement of well-testing activities at the Jetstream #1 and #2 wells at our Topaz helium project in Minnesota is a significant milestone. Flow, pressure and gas sample data will be collected and will build upon the drilling success achieved at Topaz to date. We look forward to keeping the market updated with progress.' About the Topaz Project The Topaz project is located in northern Minnesota, USA where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal well has now reached total depth ('TD') of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. The Jetstream #1 appraisal well previously reached TD of 2,200 feet (671 metres) on February 27, 2024, identifying top-tier helium concentrations of up to 14.5%, well above the 0.3% widely accepted economic threshold, and CO2 concentrations exceeding 70% - with the latter expected to further contribute to the project economics. Drilling of, the Jetstream #2 appraisal well was completed on February 1, 2025, reaching a TD of 5,638 feet (1,718 metres). The deepening of Jetstream #1 and completion of the drilling of Jetstream #2 are pivotal steps in advancing Pulsar's strategy to address the increasing global demand for helium as the Company moves another step closer to production. On behalf Pulsar Helium Inc. 'Thomas Abraham-James'President, CEO and Director Further Information: Pulsar Helium + 1 (218) 203-5301 (USA/Canada)+44 (0) 2033 55 9889 (United Kingdom) Strand Hanson Limited (Nominated & Financial Adviser, and Joint Broker)Ritchie Balmer / Rob Patrick / Richard Johnson+44 (0) 207 409 3494 OAK Securities* (Joint Broker)Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)info@ 203 973 3678 BlytheRay Ltd(Financial PR) Megan Ray / Said Izagaren+44 207 138 3204 pulsarhelium@ *OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority. About Pulsar Helium Inc. Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the completion of the flow testing and pressure build up tests of Jetstream #1 and Jetstream #2, the timing of completion of the flow testing and pressure testing; the potential impact of the drill results, flow testing and pressure testing on the deepening of Jetstream #1, the drilling Jetstream #2 on the next iteration of the resource estimate; the potential of CO2 as a valuable by-product of the Company's future helium production; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals. No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance. Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in completing the flow testing and pressure testing of Jetstream #1 and Jetstream #2, in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that flow-testing, pressure testing and drill costs may be higher than estimates ; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company's web site at Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
Pulsar Announces Financial and Operating Results for the First Quarter Ended December 31, 2024
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS. CASCAIS, PORTUGAL / ACCESS Newswire / February 27, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), the helium project development company, is pleased to announce its financial and operating results for the three months ended December 31, 2024 (the "Period"). Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited consolidated financial statements and related management's discussion and analysis (the "MD&A") for the Period, which are available on the Company's website at and the Company's SEDAR+ profile at All figures are in US dollars ("US$") unless otherwise stated. Operational Highlights The deepening operation at the Jetstream #1 appraisal well, reached its target depth of 5,100 feet on January 11, 2025. Initial data supports the Company's interpreted larger helium-bearing reservoir zone with multiple helium zones encountered throughout the deepening operation from 2,200 feet to 5,100 feet. Mud log gas levels containing up to 7.24% helium were encountered - these are likely to be contaminated by air and therefore it is expected uncontaminated samples, once collected, will report a higher and truer helium concentration. Results of the October 2024 Topaz 2D seismic survey showed a continuous reflective package at the helium-bearing interval encountered at Jetstream #1, extending 1.5km to the west and 2km to the east of the well. The Company completed a drilling operation at the Jetstream #2 appraisal well, reaching total depth of 5,638 feet (1,718 metres) on February 1, 2025. Mud log data reported helium levels up to 3.5%, which again was contaminated with air and uncontaminated samples, once collected, are expected to report higher and truer levels. On February 20, 2025, the Company announced that down-hole testing equipment is scheduled to mobilise to site on February 24, 2025. The tools consist of an optical televiewer and LithoScanner, both of which will be run on both the Jetstream #1 and #2 appraisal wells. These tests will further refine the Company's understanding of the reservoir properties and production potential. In January 2025, the Company received the interpretation of a passive seismic survey conducted at the Kap Tobin prospect within the Tunu Project, Greenland. Financial Highlights On October 18, 2024, the Company's common shares commenced trading (the "Admission") on the AIM market of the London Stock Exchange plc ("AIM") under the symbol PLSR. Concurrent with Admission, the Company completed of a total gross funding of £5 million which included the £1.125 million cornerstone investment completed in August 2024. On December 30, 2024, the Company announced that it is arranging a brokered private placement of up to 19,736,842 common shares of the Company to select US based investors at a price of $0.38 per common share to raise up to $7.5 million. On January 9, 2025, the Company closed the first tranche of the private placement raising $2 million through the issuance of 5,263,160 common shares at a purchase price of $0.38 per common share. The first tranche includes participation from US institutional investors, including University Bancorp, Inc. which now holds 4.99% of the issued and outstanding common shares of the Company. Net proceeds raised from the second tranche of the private placement will, once closed, increase the Company's working capital base, and enable the Company to accelerate its strategic plan for the exploration and development of the Topaz project, including working towards a final investment decision (FID) for the construction of a combined helium and CO2 production facility. Selected Financial Results for the PeriodThe loss for the three months ended December 31, 2024, was $3,748,175 compared to $1,165,924 for the three months ended December 31, 2023. The significant changes between the current period and the comparative period are discussed below. During the three months ended December 31, 2024, the Company paid or accrued consulting fees of $160,400 (2023 - $102,634) primarily to executive officers of the Company. The Company also paid or accrued director fees of $39,150 during the three months ended December 31, 2024 (2023 - $20,000). Increases period over period are due to increases in fees effective June 1, 2024. During the three months ended December 31, 2024, the Company recorded exploration and evaluation expenditures of $1,046,631 (2023 - $403,281) as it prepared to deepen Jetstream #1 and drill Jetstream #2 at the Topaz project as described above. Marketing and promotion expenses for the three months ended December 31, 2024 were $114,806 compared to $314,633 for the prior period. The Company was listed for trading on the TSX-V in August 2023 and significantly increased its advertising and investor awareness campaign since becoming a public company. During the current period, the Company had fewer investor awareness campaigns in place. During the three months ended December 31, 2024, the Company recorded non-cash share-based compensation of $183,493 (2023 - $Nil) on performance share units vested during the period. As described above, the Company's common shares commenced trading on the AIM market of the London Stock Exchange plc on October 18, 2024. During the three months ended December 31, 2024, the Company incurred listing fees of $376,627 towards this transaction. Share purchase warrants issued in connection with unit offerings are recorded as warrant liabilities as the currency denomination of the exercise price is different from the functional currency of the Company. During the three months ended December 31, 2024, the Company recorded a non-cash revaluation loss of warrant liability of $1,430,571 (2023 - $172,606). Outlook The deepening of Jetstream #1 is a pivotal step in advancing Pulsar's strategy to commercialise its helium discovery in the US. Reservoir data from Jetstream #2 including porosity, permeability and well connectivity will be utilised in the next iteration of resource estimation, production modelling, and further appraisal well planning. Down-hole wireline logs will be collected, and an optical televiewer run at both Jetstream #1 and #2. Flow testing and pressure build-up monitoring are planned for both wells in March 2025 following a post-drill stabilisation period. Thomas Abraham-James, President & CEO of Pulsar, commented: "We are delighted to have completed the successful deepening of Jetstream #1 and the spudding and completion of Jetstream #2 early this year. The multiple helium zones encountered in Jetstream #1 reported up to 7.24% helium that were diluted by air. Jetstream #2 successfully penetrated the entire interpreted helium-bearing interval, and beyond. Mud log gas levels containing up to 3.5% helium (diluted by atmospheric air) were encountered during drilling. Pulsar management is encouraged by these results which support our belief in Topaz being a material commercial helium discovery. We look forward to completing the additional down-hole data gathering and pressure build-up monitoring planned for March 2025. All these data will provide information for the next iteration of resource estimating, production modelling, and further appraisal well planning. In October 2024, Pulsar dual listed on the AIM market of the London Stock Exchange, simultaneously raising £5 million, including a £1.125 million pre-AIM listing investment. This marked an exciting step for the Company, which has enabled UK investors to join Pulsar on its journey aiming to become a key supplier of helium, helping to address the global supply gap. I look forward to sharing the data that we collect in the subsequent operations, and revealing how it informs future developments and the understanding of our project." On behalf Pulsar Helium Inc. "Thomas Abraham-James"President, CEO and Director Further Information:Pulsar Helium 1 (218) 203-5301 (USA/Canada)+44 (0) 2033 55 9889 (United Kingdom) Strand Hanson Limited(Nominated & Financial Adviser, and Joint Broker)Ritchie Balmer / Rob Patrick / Richard Johnson+44 (0) 207 409 3494 OAK Securities*(Joint Broker)Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)info@ 203 973 3678 BlytheRay Ltd(Financial PR)Megan Ray / Said Izagaren+44 207 138 3204 pulsarhelium@ *OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority. About Pulsar Helium Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Qualified Person SignoffIn accordance with the AIM Note for Mining and Oil and Gas Companies, the Company discloses that Thomas Abraham-James, President, CEO and Director of the Company has reviewed the technical information contained herein. Mr. Abraham-James has approximately 20 years in the mineral exploration industry, is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM CP (Geo)), a Fellow of the Society of Economic Geologists and a Fellow of the Geological Society of London. Forward-Looking StatementsThis news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the completion of the private placement, the independent resource estimate for helium and CO2 at Topaz; the potential of CO2 as a valuable by-product of the Company's future helium production; the potential impact of deepening Jetstream #1 and the potential impact of such deepening on the next iteration of the resource estimate; the potential impact of the results of Jetstream #2; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals. No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance. Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates and the potential for delays in the commencement of drilling; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus dated July 31, 2023 filed on the Company's profile on Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release and interview are expressly qualified in their entirety by this cautionary statement. SOURCE: Pulsar Helium Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
Yahoo
24-02-2025
- Business
- Yahoo
Pulsar Helium Participation at the Investor Meet Company Spotlight Event
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS. CASCAIS, PORTUGAL / / February 24, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), the helium project development company, is pleased to announce that Thomas Abraham-James, CEO, will be presenting online at the Investor Meet Company Spotlight Event on February 26, 2025, at 5:00pm GMT (9:00am PST, 11:00am CST,12:00pm EST). Thomas will be providing an update on Pulsar's Topaz Project in Minnesota ("Topaz"), following the successful deepening of Jetstream #1, drilling of Jetstream #2 and the arrival of down-hole testing equipment on-site. Register to attend this online only event via this link: What sets Pulsar Helium apart in primary helium exploration & development? Helium is a valuable and scarce resource, essential to many technology-driven industries. Pulsar is a helium exploration and development company with the Topaz project in Minnesota (USA) and the Tunu project in Greenland. Pulsar stands out in the market through several key advantages: World-class helium concentrations: raw gas containing up to 14.5% helium has flowed at the Topaz Project (occurrences with >0.3% helium are considered potentially economically viable). Looking to production: an agreement has been signed with Chart Industries, a leading supplier of industrial gas processing plant and equipment. News flow: at Topaz in 2025, Pulsar has deepened the Jetstream #1 well, drilled the Jetstream #2 well, commenced seismic acquisition and is now conducting well testing. All data will then be used to update the resource and conduct an economic assessment. Highly incentivised management and founders: owning c.37% of the issued share capital (founders are subject to a 3-year lock-in schedule that completes in Q1 2027). Primary helium: not associated with hydrocarbons, helium is the primary economic driver. The Right Jurisdictions: the USA is the world's largest market for helium and the Tunu project is one of very few helium occurrences in Europe Legislation: the State of Minnesota approved new gas legislation in May 2024, and Pulsar was issued the first helium-hydrogen licence in Greenland. On behalf Pulsar Helium Inc."Thomas Abraham-James"President, CEO and Director Further Information: Pulsar Helium 1 (218) 203-5301 (USA/Canada)+44 (0) 2033 55 9889 (United Kingdom) Strand Hanson Limited(Nominated & Financial Adviser, and Joint Broker)Ritchie Balmer / Rob Patrick / Richard Johnson+44 (0) 207 409 3494 OAK Securities*(Joint Broker)Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)info@ 203 973 3678 BlytheRay Ltd(Financial PR)Megan Ray / Said Izagaren+44 207 138 3204 pulsarhelium@ *OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority. About Pulsar Helium Inc. Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the independent resource estimate for helium and CO2 at Topaz; the potential of CO2 as a valuable by-product of the Company's future helium production; the estimated Geological Chance of Success for the Prospective Resources and the Chance of Commerciality of Topaz; the potential for deepening Jetstream #1 and the potential impact of such deepening on the next iteration of the resource estimate; the potential of the Topaz and Tunu projects; and the intended use of proceeds from the AIM IPO; the expected timing to commence drilling; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals. No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance. Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates and the potential for delays in the commencement of drilling; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus dated July 31, 2023 filed on the Company's profile on Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release and interview are expressly qualified in their entirety by this cautionary statement. SOURCE: Pulsar Helium Inc. View the original press release on ACCESS Newswire Sign in to access your portfolio
