Helium Evolution completes commissioning of Saskatchewan facility

CALGARY - Helium Evolution Incorporated (TSXV:HEVI), a micro-cap company valued at $20.28 million, announced Monday the completion of commissioning for its Soda Lake helium processing facility in Saskatchewan’s Mankota area.

The facility, in which HEVI holds a 20% working interest alongside partner North American Helium Incorporated (NAH), is designed to process 12 million standard cubic feet per day of raw gas. Production will initially come from three helium wells connected through a dedicated pipeline gathering system. According to InvestingPro analysis, while the company is currently burning through cash, analysts expect it to achieve profitability this year.

"The start-up of the Soda Lake Facility represents the transformation of HEVI from an exploration-focused company to an active participant in helium production," said Jim Baker, Interim President and CEO of Helium Evolution.

The commissioning marks a significant operational milestone for the Canadian-based helium exploration company, which has been developing assets in southern Saskatchewan. According to the company’s statement, the project is fully funded and positioned to generate cash flow.

HEVI holds over five million acres of land permits near areas with proven economic helium concentrations in North America. The company aims to establish itself in the growing global helium market through its development strategy in Saskatchewan.

The announcement, based on a company press release, indicates HEVI’s transition from exploration to production operations in one of North America’s helium-rich regions. The company’s shares have shown strong momentum, delivering a 109% return year-to-date, with analysts setting a target price of $0.25. InvestingPro analysis suggests the stock is currently fairly valued, with a healthy current ratio of 3.75 indicating strong short-term liquidity.

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