Helium One Global Ltd (LSE:HE1) has reported that construction of the production facility at the Galactica Project in Colorado is nearing completion, marking a key milestone for the joint venture with Blue Star Helium.
The facility has successfully passed pressure testing and is now preparing to enter the commissioning phase. Subject to final checks, first gas production is expected before the end of the year, signalling the transition of the project from development into production.
Reaching this stage represents a significant step for the partnership and could strengthen Helium One’s position in the helium market at a time when global supply remains constrained. However, the company continues to face financial challenges, with ongoing losses and limited revenue weighing on its near-term outlook. While recent operational progress is encouraging, valuation metrics and mixed technical signals suggest a cautious stance.
More about Helium One Global Limited
Helium One Global Ltd is a helium exploration and development company with assets in Tanzania and the United States. The group holds a 50% working interest in the Galactica–Pegasus helium development project in Colorado and a portfolio of helium licences across two continents. Its flagship project in Tanzania’s southern Rukwa Rift Basin has progressed into the appraisal and development stage following a successful exploration programme.
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