Blue Star Helium (AU:BNL) has released an update.
Blue Star Helium Limited announced a significant helium discovery at the State 16 development well, with up to 1.90% helium concentrations and flow rates comparable to neighboring commercialized developments. The company has also fully acquired the Serenity project, promising high-grade carbon dioxide production, and is in discussions for commercial offtake with a target of starting production in the first half of 2025. Meanwhile, Blue Star maintains a strong financial position with A$1.225 million in cash and no debt.
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