LONDON, UK: Helium Ventures, a special purpose acquisition vehicle focused on investments in helium related assets, announced its first investment in Blue Star Helium Limited.
Helium Ventures invested AUD$ 400,000 at AUD 5.6 cents per share.
Blue Star is an independent helium exploration and production company, headquartered in Australia, with operations and exploration projects in North America. Its strategy is to find and develop new supplies of low-cost, high-grade helium in North America.
Helium Ventures’ investment was made as part of an AUD 15 million fundraise completed on 28 October 2021. The funds have been raised following Blue Star’s receipt of approval to proceed with its helium well drilling programme in Las Animas County, Colorado. Well #1 is now permitted and scheduled for Q4 2021; Wells #2 and 3 are scheduled for Q1 2022; Wells #4 to 8 are scheduled for Q2 2022; and Wells #9 to 10 are scheduled for Q3/Q4 2022.
Neil Ritson, Chairman of Helium Ventures commented: “We are delighted that we have managed to gain exposure to this large and exciting pure play helium project in Colorado – an area well known for helium potential – despite this fundraise being significantly oversubscribed. Blue Star has made impressive progress over the last year and we are optimistic that the drilling commencing in just a few weeks will be value accretive for us, as new shareholders of Blue Star.
Whilst our main focus remains to acquire direct, material positions in helium projects where we can be active and apply our technical knowledge and expertise to enhance the value of projects, this first investment presents the Company with an opportunity to deploy capital with the potential to generate significant short to medium term returns for shareholders.”