- Royal Helium’s (RHC) Climax/Nazare Project has been approved to receive royalty tax credits
- The company will receive up to C$4,227,185 from the Government of Saskatchewan based on eligible project costs incurred to date
- Initial credits should arrive in the present quarter
- Royal Helium controls and develops over 1,000,000 acres of prospective helium land in Saskatchewan
- Royal Helium (RHC) is up by 5.97 per cent trading at $0.355 per share
Royal Helium’s (RHC) Climax/Nazare Project has been approved to receive royalty tax credits.
The company will receive up to C$4,227,185 from the Government of Saskatchewan based on eligible project costs incurred to date.
It will allocate royalties toward Nazare’s horizontal wells, construction of processing facilities, and any other eligible costs.
Initial credits should arrive in the present quarter with the remainder paid in conjunction with project advancements.
“We are extremely pleased with the agility the Saskatchewan Government has shown in quickly implementing their new Helium Action Plan and how quickly they have been able to process and approve our first submission,” stated Andrew Davidson, Royal Helium’s President and CEO. “An obvious benefit to Royal now and going forward, this program provides Saskatchewan operators with a significant cost advantage over most jurisdictions in North America.”
Royal Helium controls and develops over 1,000,000 acres of prospective helium land in Saskatchewan.
Royal Helium (RHC) is up by 5.97 per cent trading at $0.355 per share as of 9:30 am EST.
