Canadian company American Helium Inc. has been working to secure additional funding in order to advance its helium property exploration programmes.
But funding of work programmes in Utah or elsewhere is not attracting sufficient equity capital, said Chief Financial Officer and Director Lawrence Pemble.
The resource exploration company, focused on the global growth of technology-driven demand for helium, yesterday provided an update to its progress.
Pemble reported, “In addition to the company’s acreage in Carbon County, Utah, the company has been looking into acquiring additional acreage which would be followed by requirement to fund seismic and drilling programmes.”
“At this time, funding of work programmes in Utah or elsewhere is not attracting sufficient equity capital and management is curtailing expenditures on helium projects and considering strategic options and alternatives.”
“Further news will be announced as it becomes available.”
Local reports in Korea suggest a multi-billion dollar dispute is in-progress between Hyundai Heavy Industries (HHI) and Barzan Gas Company, the latter essentially being the source of feedgas for the keenly anticipated Qatar 3 helium plant.
The US Bureau of Land Management’s (BLM) FY 2019 Crude Helium Auction that had been originally scheduled to take place on July 18th, but was postponed due to a lawsuit by Weil Group Resources, has been rescheduled to take place in Amarillo, Texas at 1:00PM on 31st August.
The global helium business has seldom been far from the headlines in the last half-decade. The industry endured a long and severe supply shortage from 2011-2013 (Helium Shortage 2.0) and though it has been through periods of recovery and equilibrium in the years since, the business is still often on ...
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