Helix Exploration PLC chairman David Minchin talked with Proactive about the company’s latest developments, focusing on helium exploration at the Ingomar Dome and the ongoing commercialization of the Rudyard project.
Minchin explained the decision to acidise the Charles Formation, noting that it offers a cost-effective way to test for helium potential. He emphasised that while the company remains focused on the Rudyard project—expected to generate between $15 million and $25 million annually—there is significant upside at Ingomar Dome, where previous drilling provided promising helium and hydrogen indications.
Regarding Rudyard, Minchin discussed the company’s progress in advancing production. Helix Exploration has completed a £5 million placing, securing funding to bring Rudyard into production while also supporting growth projects and M&A opportunities. The company is working on acquiring membrane units and permitting additional production wells, with the goal of moving into positive cash flow in 2025.
On future plans, Minchin clarified why the company is prioritising testing the Charles Formation over the Flathead Formation, citing logistical and cost considerations related to using hydrofluoric acid during winter. However, it may revisit the Flathead testing later in the year.
Stay tuned for more updates on HeLIX Exploration’s helium and hydrogen developments.
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