Pulsar Helium has issued two updates over the last week. The most eye-catching was that laboratory testing of the gas at the Topaz project had identified high levels of helium-3. This is one of the rarest isotopes commanding a price of over 100,000 times that of the more normal helium-4. With concentrations of up to 14.5 ppb (parts per billion) this is one of the highest levels seen in the world – further demonstrating the worldclass discovery. Separately, Pulsar received the pre-feasibility study carried out by Sproule which has identified the promising geothermal potential and associated helium production at the Tunu project in Greenland. We are increasing our valuation of the shares to 70.7 p/share from 68.9 p/share.