Royal Helium stock balloons on signed supply agreement with space launch company
Royal Helium did not name the space launch company, but said it will be constructing two initial facilities, the first at Steveville, Alberta and the second at Climax, Saskatchewan. The combined throughput capacity of the plants will be 20,000 mcf/day (20 million cubic feet per day gas input).
Royal controls over 1 million acres of prospective helium land across southern Saskatchewan and southeastern Alberta. All of Royals’ lands are in close vicinity to highways, roads and existing oil and gas infrastructure, with a significant portion of its land in close proximity to existing helium producing locations.
CEO Andrew Davidson said Royal aims to be a leading, greener source of helium for the aerospace, high tech, medical, and manufacturing industries.
The company’s stock surged nearly 16% by market close in Toronto. Royal Helium’s average daily volume is 198,244 — and 3,490,736 shares were traded Monday. The company has a C$62.81 million ($48.2m) market capitalization.
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