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.”