Quantum Helium annual revenue rises supported by progress at Sagebrush

Quantum Helium Ltd on Friday reported improved annual results and said it enters the next financial year "from a materially stronger position."

Shares in the Sydney-based miner targeting helium, hydrogen and hydrocarbons in the US and Australia rose 0.5% to 2.01 pence on Friday afternoon in London.

Quantum Helium said revenue from continuing operations increased 44% to AUD725,208, around £384,937, in the financial year to June 30 from AUD503,573 a year earlier.

The company said this was driven by strong prices and continued oil production at the Sagebrush project in Colorado, in which Quantum Helium holds a 90% working interest.

Quantum Helium said it carried out further testing for technical evaluations at Sagebrush during the period and began arrangements to assume ownership. The company said laboratory analysis during the Sagebrush-1 testing programme confirmed a helium concentration of around 2.5% and identified potential for commercial oil production within the Leadville formation.

Pretax loss for the period narrowed to AUD3.4 million from AUD7.3 million a year earlier, resulting from no impairment expense, compared with AUD4.7 million a year earlier. Corporate expense also fell to AUD1.2 million from AUD1.6 million.

Quantum Helium said its strategy of expanding beyond its existing helium and oil projects was supported by the helium market, which remained a critical commodity for the semiconductor, medical, aerospace and advanced technology sectors.

Executive Chair Carl Dumbrell said: "2026 was a defining year for Quantum. We entered the period as Mosman Oil and Gas and ended it as Quantum Helium, with a more focused portfolio, a substantially stronger financial position and a clearer pathway towards development."

The company said its focus is now on execution, progressing the engineering and reservoir optimisation programme at Sagebrush, followed by a larger stimulation and testing programme, while continuing to advance Coyote Wash, Colorado, in which it holds a 100% working interest.

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