Pulsar Helium (AIM:PLSR), a primary helium explorer advancing its Topaz project in Minnesota, has signed a binding letter agreement with an undisclosed US-based industrial gas equipment company to reserve a helium liquefaction and purification plant, with an indicative price tag of approximately US$78.7 million.
The proposed plant would carry helium liquefaction capacity of around 940 litres per hour and CO2 capture capacity of approximately 300 tonnes per day, equating to around 8.2 million litres of liquid helium per year before adjustments for uptime and commissioning.
Under a notice to proceed, Pulsar's subsidiary Keewaydin Resources will make an initial reservation payment of US$250,000, with a further US$750,000 milestone payment due 90 days after execution, subject to the definitive agreement.
Pulsar intends to fund the full acquisition through a combination of commercial debt, equipment finance, project finance, and revenues from third-party gas processing, which management expects the plant could generate before Topaz production wells come online.
"This is not a small pilot plant; it is the type of infrastructure that can move Pulsar into meaningful commercial production," said CEO Thomas Abraham-James.
The vendor's identity remains confidential for now, and completion is conditional on executing a definitive agreement, finalising equipment scope, securing financing, and obtaining regulatory approvals, including from the TSX Venture Exchange, with the parties targeting 31 July for the definitive deal.
