-- Avanti Helium (AVN.V) said Tuesday it has advanced the initial installment payment required to commence the relocation of its helium processing facility to the Sweetgrass helium project in Montana.
The payment formally initiates the next phase of development, allowing plant optimization work, disassembly, logistics coordination, and mobilization activities to begin immediately, Avanti said.
The company said it continues to target first helium production by mid-2026.
Avanti expects Sweetgrass to become one of the few new U.S. domestic helium production facilities, amid tight global helium markets.
The company's share price rose 5.5% on Monday to $0.58 on the TSX Venture Exchange.