Pulsar Helium Inc (AIM:PLSR, TSX-V:PLSR, OTCQB:PSRHF) shares tumbled 14% to 38.9p on Tuesday after a large block of stock was sold by a company linked to one of its directors. The helium exploration group said ABCrescent Cooperatief U.A.
Pulsar Helium Inc (AIM:PLSR, TSX-V:PLSR, OTCQB:PSRHF) shares were up 23% in Wednesday's trade, after it reported the discovery of helium-3 (a rarer form of the gas) at its Topaz project in Minnesota, USA. The London-listed small-cap said 'the discovery' was made in the lab, with analysis examining samples from the Jetstream #1 well.
Pulsar Helium Inc (AIM:PLSR, TSX-V:PLSR, OTCQB:PSRHF) announced the signing of an agreement to acquire Quantum Hydrogen Inc, which holds rights to 59,100 acres in Minnesota west of the firm's Topaz helium project. The agreement, currently a non-binding term sheet, would increase Pulsar's land position in Minnesota by about 1,000%, and, Pulsar noted that the acreage is considered prospective for helium and hydrogen, and has geological similarities to Topa "The proposed transaction is a fortuitous opportunity to obtain additional non-hydrocarbon gas leases in Minnesota, complementing Pulsar's existing portfolio," said chief executive Thomas Abraham-James.
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