Blue Star holds a particularly interesting portfolio in Colorado in areas known to have notably high helium compositions. Pic via Getty Images
Energy
Blue Star Helium has appointed Gregg Peters as non-executive director as the company moves towards targeted production at the high-grade Voyager project in Colorado.
Experts says helium markets are experiencing ‘helium shortage 4.0’ but unlike previous sustained helium shortages, increased exploration for and production of helium is seen as the only solution.
This bodes well for companies like Blue Star Helium (ASX:BNL), who are on a mission to become one of the first primary helium producers on the ASX from its helium discoveries – Voyager, Galactica and Pegasus in Colorado.
First helium output is set for Q4, 2023 at Voyager, home to a 643 MMcf contingent helium resource, which will be followed by Galactica and Pegasus in 2024.
The explorer has recruited a new director, Gregg Peters, to steer the company towards production while advancing commercialisation pathways at its other assets.
Peters brings a proven track record of commercial leadership in the industrial gas sector with over 30 years of direct market experience.
Most recently he was Helium Director, North America for Linde PLC (Praxair Inc.) where he managed all aspects of commercial helium operations (from mid2010), including price strategy, contracting, client portfolios, supply system development, and end-users across all modes of supply, liquid and gaseous.
He also spent six years as Director of Industrial Gas for Praxair Inc.’s packaged gas business, responsible for the financial performance and development of all gas products, including atmospherics, fuel gases, and CO2 (responsible for both the industrial and BevCarb segments), and the rapid expansion of the MicroBulk initiative.
“It is pleasing to have attracted someone of the professional calibre and helium experience as Gregg as we move closer to targeted production from our high-grade Voyager helium project,” BNL MD and CEO Trent Spry says.
“Both Gregg and I are equally excited about the potential of our existing exploration portfolio and additional future developments of new potential resource discoveries from our existing exploration portfolio and beyond.”
Commenting on his appointment, Peters says Blue Star holds a particularly interesting portfolio.
“Their operations in Colorado are in areas known to have notably high helium compositions. Initial successful exploration results confirm this at several prospects across their portfolio,” he explains.
“With no projected softening in helium demand and market dynamics driving the need for true diversity in sources of supply, Blue Star becomes one of the most exciting near-term production opportunities for the market.”
With Gregg’s appointment representing the addition of a second independent non-executive director to the Blue Star board, Ross Warner has elected to step down from the Board effective 10 September 2023.
This allows the board to now be comprised of a majority of independent directors.
Neil Rinaldi has been a non-executive director of Blue Star Helium since April 2021 and will assume the role of Non-Executive Chairman.
Ross remains with the Company in the executive role of President, Commercial and Legal.
This article was developed in collaboration with Blue Star Helium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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