Helium One Global said the offtake agreement for its Galactica helium project in Colorado has been extended to the end of the first quarter of 2027 as it seeks a long-term solution.
The AIM-listed group, which holds a 50% stake in the project alongside operator Blue Star Helium, said the helium sales agreement, which had been due to expire at the end of August, will now run to 31 March 2027, covering all helium produced at the project’s Pinon Canyon plant. Pricing is fixed for the extended term and reflects current US helium market conditions.
The counterparty, an unnamed US corporation, is unchanged, and the operator continues to negotiate longer-term offtake arrangements. Separately, a fourth helium tube trailer has been delivered from the plant, with a fifth being filled.
Despite a string of updates on the sale of helium this year, Helium One’s shares have steadily declined and now trade around 50% below the 52-week high.