Pulsar Helium Partners With Lunar Helium-3 Mining to Assess Rare Gas Extraction in Minnesota
Pulsar Helium Inc. (TSXV:PLSR) entered an agreement with Lunar Helium-3 Mining to evaluate proprietary technology for recovering and concentrating helium-3 from its Topaz Project in Minnesota. The multi-phase testing program aims to establish whether the rare isotope can be extracted from the site's natural gas deposits.
Helium-3 is an extremely scarce resource, with annual U.S. supply estimated at just 1 to 2 kilograms and market values cited near $18 million per kilogram. Third-party testing previously confirmed helium-3 concentrations between 11.2 and 11.9 parts per billion at Topaz, presenting a potential high-margin revenue stream alongside primary helium operations if feasibility is proven.
The second phase of the evaluation program sets a target of reaching at least 95% helium-3 purity. Positive laboratory results could allow the partnership to progress toward a funded pilot project and commercial deployment, though management emphasized that technical and execution risks remain high.
Shares of Pulsar Helium dropped 11.01% to 0.97 CAD following the market update.
Key points
- Pulsar Helium Inc. signed an agreement with Lunar Helium-3 Mining to evaluate helium-3 recovery at its Topaz Project in Minnesota.
- Independent testing verified helium-3 concentrations between 11.2 and 11.9 parts per billion at the Topaz site.
- The second phase of the evaluation program targets a minimum helium-3 purity level of 95%.
- Domestic U.S. helium-3 supply is estimated at 1 to 2 kilograms per year, with prices cited around $18 million per kilogram.
- Pulsar Helium shares fell 11.01% to 0.97 CAD following the news.
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How we writeDisclaimerQuestions and answers
What deal did Pulsar Helium sign for its Topaz Project?
Pulsar Helium signed an evaluation agreement with Lunar Helium-3 Mining to assess proprietary technology for recovering and concentrating helium-3 from gas at its Topaz Project in Minnesota.
How valuable is helium-3 and what is its supply in the U.S.?
Annual U.S. supply of helium-3 is estimated at 1 to 2 kilograms per year, with prices cited around $18 million per kilogram due to acute scarcity.
What are the key success criteria for Pulsar Helium's evaluation program?
Phase 2 of the evaluation program aims to achieve at least 95% helium-3 purity, which would pave the way for potential pilot testing and commercial deployment if technical risks are overcome.