Blue Star Helium Limited (ASX:BNL, OTC:BSNLF) (Blue Star or the Company) advises that it has completed start-up of the Pinon Canyon Plant, the processing facility for the Galactica Project, and successfully produced refined helium gas.
Blue Star Managing Director and CEO, Trent Spry, said, 'This marks a significant milestone, and I am proud of our US team for bringing this together. This is an exciting moment for our shareholders. 'With first helium gas now processed through the system, we are now moving into the optimisation and ramp up phase. 'We expect first helium gas sales in January 2026 via short term contracts as, in parallel, we develop longer term relationships with preferred partners based on increasing continuous supply and balanced commercial terms. 'The greater Galactica-Pegasus structure has significant scalability based on already discovered resources. Once the Galactica plant is at full capacity attention will shift to installation of a planned
second plant on the greater structure. Beyond this, the further output expansion of GalacticaPegasus, as well as our broader Las Animas acreage, delivers an enviable longer term growth pipeline for the Blue Star business. 'I would like to thank existing shareholders and new investors for their support of the placement announced today. We have also announced that existing shareholders will have the ability to participate in a rights issue, offering further exposure to Blue Star as it transitions to production with significant discovered resources and a clear output growth profile.'
Additional Details
The Galactica project is being undertaken in joint venture with Helium One Global Ltd which holds a 50% working interest in the project. The achievement of first gas at Galactica is a significant operational and commercial milestone. Planning is well advanced for further tie-in and infill drilling aimed at increasing throughput to the Pinon Canyon processing plant, with a clear focus on scaling gas processing and delivering substantial revenue ramp-up through 2026. First gas at Galactica represents a major value-inflection point for the Company and validates several years of disciplined subsurface evaluation across its Galactica-Pegasus project and broader Las Animas acreage.
This ASX Announcement has been authorised for release by the Board of Blue Star Helium Limited. For further information, please contact: Trent Spry Managing Director & CEO info@bluestarhelium.com +61 8 9481 0389
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