Quantum Helium Ltd – Sydney-based miner targeting helium, hydrogen and hydrocarbons in the US and Australia – Provides an update on engineering work at its Sagebrush project, in which it holds a 90% working interest, and on additional drilling opportunities across its Colorado portfolio. At Sagebrush, says it is finalising an engineering assessment to define the next phase of testing, stimulation and field development. Quantum expects the next programme to use a more extensive stimulation treatment to increase contact with the natural fracture network and improved sustained flow rates from which to base development planning. In parallel, permitting and drill planning are advancing across five additional opportunities across the Sagebrush and Coyote Wash projects. Quantum has a 100% working interest in Coyote Wash. “Our work at Sagebrush continues to strengthen our confidence in the project,” says Chief Executive Howard McLaughlin. “We are not only progressing Sagebrush towards its next phase, but also building a broader Colorado drilling pipeline with the potential to support a multi-field helium and oil business,” he adds.

Current stock price: 2.10 pence, closed down 8.7% in London on Monday

12-month change: down 31%

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