Quantum Helium Limited (AIM: QHE) is pleased to announce that the Irrevocable Letter of Credit (“ILOC”) required for bonding has now been formally approved by the U.S. Bureau of Indian Affairs (“BIA”).
Approval of the ILOC marks an important regulatory milestone for the Company and reflects the strong and constructive engagement that has taken place with the BIA over recent weeks. This approval clears an important prerequisite for the advancement of operations at the Sagebrush Project.
With the ILOC now approved, the next steps are the assignment of the relevant leases and the formal designation of operatorship, both of which are progressing with the BIA. The Company notes that discussions with the BIA have been positive and productive, and momentum across the process continues to build.
Howard McLaughlin, Chief Executive Officer of Quantum Helium, commented: “We are very pleased to have received BIA approval of the Irrevocable Letter of Credit. This outcome follows a number of highly constructive meetings with the BIA and confirms that the process is now moving forward positively. With this key milestone secured, we are now focused on completing assignment and operatorship and moving efficiently toward the extended production test at Sagebrush.
All long-lead items required for the extended production test have now been secured, allowing the Company to move forward with confidence as soon as final approvals are in place. I would like to thank our shareholders for their patience and continued support, and we look forward to a strong and highly active 2026 as we progress towards testing and development across our Colorado portfolio.”
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Quantum Helium Limited Carl Dumbrell Chairman |
