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Blue Star Helium Limited (ASX:BNL)

ALERT: Price-sensitive ASX Announcement for BNL
Current share price for BNL : $0.006 -0.003 (-33.33%)+
Announcement
Release
30 Apr 2026 10:03AM
Price at Release
$0.009
Full Release
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Summary
Blue Star Helium Limited reports substantial progress in its Galactica and Pegasus projects during the March quarter of 2026. The Pinon Canyon Plant commenced integrated operations, and preparations for continuous 24/7 operations are underway. The company has completed Stage 1 of the Galactica development, tying in all six wells. First helium sales have been achieved, and COâ‚‚ sales are expected in the next quarter. Financial activities included a successful entitlement offer and an oversubscribed institutional placement, raising significant funds to support ongoing project developments and operations.
Key Points
  • Pinon Canyon Plant commenced integrated operations with successful commissioning of the amine unit.
  • Stage 1 of the Galactica development program is nearly complete with all six wells tied into the facility.
  • The plant is on track to transition to 24/7 operations following final commissioning of automation and safety systems.
  • First helium sales have been agreed at spot pricing, with CO2 sales targeted for June 2026.
  • Long-term offtake negotiations are progressing with US-based counterparties.
  • A non-renounceable Entitlement Offer raised A$1,063,708, and an institutional placement raised A$10 million.
  • Cash at the end of the quarter was A$0.880 million, with additional proceeds from the placement expected.
  • The company's strategy involves expanding helium production and securing long-term sales agreements.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.