Memery Crystal advises Helix Exploration Plc, a helium exploration company with operations in Montana, North America, on its Oversubscribed Placing and Subscription of £7.5m and admission to AIM.

Helix aims to leverage the experience of their veteran management team to discover and develop new sources of primary helium.

The helium commodity sector is currently experiencing a surge in popularity, as an increase in demand from the medical and high-tech manufacturing sectors continues to drive helium prices to all-time highs. Helix’s operations are focused on their flagship Ingomar Dome Project, a large-scale closure on the highly productive ‘Montana Helium Fairway’ where historic drilling has already identified gas in all of the targeted sites.

Helix is aiming to use the net proceeds raised on Admission to commence scoping studies and test drilling in 2024. Plant construction and production drilling is due to commence and complete in 2025, with a first gas target of Q4 2025².

The Memery Crystal team was led by Corporate Partners Nick Heap and Nick Davis, Senior Associate Amanpreet Deusi, Associate Ravina Mahaja, Trainee Solicitor Eva Wichtowski and Paralegal Gabriela Parra.

Nick Heap commented: “It’s great to have worked with the team to bring Helix to AIM with an oversubscribed book, particularly against a backdrop of difficult market conditions and with this being one of the few IPOs that have completed so far this year. We’re really looking forward to working with the team going forward and wish them all the best with the drilling campaign out in Montana later this year.”

1. https://www.helixexploration.com/
2. https://www.londonstockexchange.com/discover/news-and-insights/london-stock-exchange-welcomes-helix-exploration-plc-aim