Royal Helium reported its Q1'24 results after an active quarter. The company reported helium revenues of C$819k (or ~US$600k), which it sold at its previously agreed contract price of US$625/mcf. Although the company does not report the quantity sold, we can imply the quantity sold based on these sales and prices at 0.96mmcf for the quarter. This also matches up with Akap's estimates of Royal Helium's production based on the Canadian sources which is ~1.1mmcf for the months of Dec'23 to Feb'24 (assuming a 1-monthlag between production and sale). The company is still venting out ~50% of the helium it produces as it is facing difficulties in ramping up the Steveville production facility. Royal ended the quarter with a net loss of C$4.4mm, cash balance of C$15k, and total assets of C$88mm.
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