Trading halt pending flow test results
This morning our 2021 Catalyst Hunter Pick of The Year Grand Gulf Energy (ASX: GGE) went into a trading halt pending the announcement of flow test results from its helium discovery in Utah, USA.
This is the announcement we have been waiting for since GGE confirmed a helium discovery at its project over ~2.5 months ago.
With the flow test GGE will be looking to complete the final part of the process to take GGE from helium explorer to producer.
GGE now has:
- A proven helium structure that can be followed up with additional drilling. ✅
- Commercially viable helium grades exceeded our 0.4% expectation (GGE’s grades were between 0.44 and 0.65%). ✅
- Commercially viable flow rate 🔄- (Due to be announced on Wednesday).
In a previous GGE note we detailed our bull, base, and bear case expectations for the flow test results. To read that note click here.
