Helix nearing helium production at flagship Rudyard project

(Sharecast News) - Helix Exploration said on Monday that it is entering the final stages before starting helium production at its flagship Rudyard project in Montana, with key infrastructure nearing completion and the first output expected shortly after final components arrive in November. The AIM-traded company confirmed that mobilisation of its pressure swing adsorption (PSA) plant to site would begin this week, with all insurance arrangements finalised and site preparation and construction fully complete.

It said the PSA plant had been assembled and tested by Wikota Design & Construction in Houston and approved for transport to the Rudyard site, where installation would be carried out by Wikota engineers with support from Nu Wave Services of Havre, Montana.

The final helium compressor unit was scheduled to arrive in November, after which installation and commissioning would take around two weeks before production begins.

Helix said it was also in advanced discussions with several industrial gas companies regarding potential offtake agreements, with further updates expected in due course.

Chief executive Bo Sears said the company's progress marked a significant milestone as it moves toward becoming Montana's first dedicated helium producer.

"We are delighted with the progress Helix has made over the past six months as we enter the final phase before becoming the first producer of its kind in the State of Montana," he said.

"The pace at which the team has executed this phase of the Rudyard project is a real testament to their professionalism and commitment.

"Achieving this level of progress so soon after listing is an exceptional accomplishment.

"We are excited about the opportunities that production presents for the company and remain focused on maintaining this momentum through the remainder of 2025, into 2026, and beyond."

Helix said recompletion work at the Inez 1 well in the upper Souris River formation would resume in the coming weeks once a workover unit becomes available.

At 1554 BST, shares in Helix Exploration were down 5.88% at 24p.

Reporting by Josh White for Sharecast.com.