Pulsar Helium Files Financial and Operating Results for the Year Ended September 30, 2025
Executive Summary
- Pulsar Helium released its audited financial and operating results for the year ended September 30 2025, highlighting deepened appraisal drilling at the Topaz project with helium concentrations up to 14.5%.
- The company completed multiple equity financings during the year, raising approximately $12.5 M in gross proceeds from AIM admission, private placements, and warrant/option exercises.
- Net loss for the year was $(9.65) M; total assets increased to $2.42 M while liabilities rose to $2.61 M, reflecting ongoing development expenditures.
Key Details
- Operational Highlights – Year
- Jetstream #1 appraisal well deepened to 5,100 ft (1,555 m) on Jan 11 2025; helium concentrations up to 14.5%, CO₂ >70%.
- Jetstream #2 appraisal well reached 5,638 ft (1,718 m) on Feb 1 2025; average helium 5.6% (range 4.3‑6.5%).
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Laboratory flow‑testing confirmed sustained average helium: 8.1% (Jetstream #1) and 5.6% (Jetstream #2).
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Operational Highlights – Post Year
- October 2025: initiated a drill program targeting up to ten wells at Topaz; three holes completed, five total expected.
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January 2026: U.S. Geological Survey Noble Gas Lab and Lawrence Livermore National Lab independently verified helium‑3 concentrations of 11.2‑11.9 ppb in Jetstream #1 samples (with 7.7‑8.0% He‑4).
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Financing Activity
- Oct 18 2024: AIM admission; issued 15,500,000 common shares at £0.25 each for gross proceeds of $5,010,985 (£3,875,000).
- Jan & Mar 2025: brokered private placement – 6,388,154 shares at $0.38/share, gross proceeds $2,427,498.
- Aug 2025: private placement – 16,174,338 shares at £0.23 each, gross proceeds $5,034,846 (£3,720,100).
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Post‑year warrant and option exercises: 17,490,684 shares for C$6,332,394; 2,200,000 shares for C$990,000.
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Selected Financial Results (Year Ended Sep 30)
- Revenue: $0 (nil) – still pre‑revenue development stage.
- Net loss: $(9,645,889) vs. $(20,346,712) prior year.
- Basic & diluted loss per share: $(0.07).
- Total assets: $2,420,415; total liabilities: $2,610,441.
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Non‑cash revaluation gain on warrant liability: $1,895,724 (previous year loss of $8,824,439).
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Outlook
- Deepened Jetstream #1 provides full‑height reservoir data for future resource estimation and production modelling.
- Ongoing multi‑well drilling program will feed technical evaluation for appraisal planning, development decisions, and potential production scenarios.
Notable Quotes
“The Year was transformative for Pulsar… our flagship Topaz Project delivered some of the highest helium concentrations ever reported from a natural gas system… The Company’s Admission to the AIM market … marked an important milestone.” – Thomas Abraham‑James, President & CEO
All non‑material boilerplate, forward‑looking statements, and disclaimer sections have been omitted for brevity.