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Blue Star Helium in trading halt pending news on acquisition of material mineral leases

The company is well-placed to benefit from its substantial oil and gas experience in exploring for helium across highly prospective tenements in the Las Animas region of Colorado, USA.

Blue Star Helium Ltd - Blue Star Helium in trading halt pending acquisition release of material mineral leases
Helium is a unique industrial gas which, due to unique chemical and physical qualities, is vital in the manufacture of MRIs and semiconductors

Blue Star Helium Ltd (ASX:BNL) has been granted a trading halt by the ASX pending release of an announcement regarding the acquisition of material mineral leases.

The trading halt will remain in place until the beginning of trade on Tuesday, September 29, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 3.1 cents and have risen from 1.5 cents at the close on August 25.

Additional acres in Colorado 

Blue Star recently acquired an additional 5,356 net acres in Colorado, USA, taking the company’s lease position to 129,561 gross acres or 73,486 net acres.

The new leases are from private mineral owners for an initial term of five years with an option to renew for a further five years.

Around 69,378 net acres have been verified with 4,108 net acres subject to verification.

Quick facts: Blue Star Helium Ltd

Price: 0.035 AUD

ASX:BNL
Market: ASX
Market Cap: $37.16 m
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Blue Star Helium on cusp of drilling as it picks up strategically...

Blue Star Helium Ltd's (ASX:BNL) (OTCMKTS:AZZEF) Joanne Kendrick speaks to Proactive's Andrew Scott following the news it's acquired an additional 22 new leases over 34,848 gross acres within the highly prospective Las Animas region in Colorado, USA. This large net lease position now held over...

1 month ago

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