Hi all,
I'm no expert nor do I have much experience doing this sort of thing, but here's why I recently bought some shares in TSXV: HEVI (Helium Evolution).
I'd appreciate some feedback on what you all think.
**The case for helium (in general):**
1. There's no replacement for helium nor can it be synthesized.
2. Supply is already scarce. Roughly half of the global supply comes from the US, the other half comes from Qatar and Russia (combined). I'll let you come to your own conclusions on that.
3. The US is projected to become a net importer of Helium by 2030.
4. Helium's a critical "mineral", and it's got a pretty sexy industrial use profile - it's used in semiconductor and microchip manufacturing, fiber optics, and used to keep hard drives cool (super important for AI, but this is one of the biggest bottlenecks in quantum, too). It's important for aerospace defence, manufacturing and engineering, nuclear fusion, and medical/scientific research.
So basically...helium is interesting to anyone who thinks tech and defence are going to play a part in the economy over the next few years.
3. HEVI is located in Saskatchewan, which has already proven itself commercially.
4. Investment from the government of Saskatchewan - they released their economic strategy/plan, and out of the 5 pillars, as far as I can tell, they've basically got two real revenue generators (the other one being potash) and in my opinion, helium is the more likely of the two to provide greater returns to investors.
5. Not a whole lot of pure helium plays out there
**....So why HEVI in particular?**
If you're not paying attention, HEVI may seem like any other mining junior....but it doesn't take long to notice some truly unusual features.
1. They're *exceptionally* connected (locally)- over 5 million acres in Saskatchewan. This makes them one of the largest landholders in the industry, period. On a junior? That's remarkable. On top of that, their strategic partnership with NAH (more about them later) basically takes care of one of the biggest hurdles that ruin most junior mining companies...and they're basically next door neighbours.
2. They're *exceptionally* connected (nationally). The exec team itself has got some really great and interesting profiles, but what really got me looking into them was the quality on their Board of Directors. This is basically a star-studded crew, and the ongoing presence of former ministers on their team is PARTICULARLY interesting to me.
3. They're *exceptionally* connected (internationally). As of late 2025, following the successful delivery of their first load, 42% is owned by a Japanese energy company (ENEOS) at $0.21/share. I found this interesting because basically what happened is even though they had the option to force HEVI to payback the financing, instead they doubled down. For what it's worth, Japan is one of the world's leading helium consumers.
4. They're waiting on some results (near term catalyst for some much needed momentum)
5. On May 20th, they granted a bunch of stock options that mostly went to execs and directors for about $0.23/share. That's right around where the stock is currently trading and DOUBLE from the February offering.
Furthermore, the vesting schedule is 20% every 6 months (over the next 30 months)...so it tells you that not only are insiders sticking around, but that they care about shareholders.
6. Their balance sheet is strong, relative to their size . They've got a decently sized treasury, so they're not in an immediate financing crisis and their losses are pretty reasonable.
7. They added Dustin Duncan to their team at the end of April. Dude was formerly Minister of Energy and Resources and Minister of Environment for the government of Saskatchewan.
I run into these types occasionally at networking events (I live in Ottawa) - believe me, most businesses can only dream of access to these sorts of connections.
8. CEO's got a really attractive profile too - chemical engineer with experience in tech, energy, and private equity, so I'm pretty confident he'll be great at getting some highly lucrative investment opportunities....but even more notably: he's got experience in acquisitions.
Considering they've got an unusually beneficial partnership model, it seems like the stage is set for a future acquisition.
**Now, for the bad:**
There's no meaningful production yet. According to their website, as of April 20 they're waiting on some results before they start drilling...which means we should be hearing something any day now.
This basically means that about 1 month after they announced this, they doubled their estimation on the value of their stock.
Interesting, no?
We don't know for sure what's going to happen - it's possible they don't find anything. Buuuuut their partnership model takes care of that - all the drilling and major expenses are being taken care of, so even if they don't find anything it's not going to be a loss for HEVI.
So who is this partner? None other than Canada's largest helium producer: North American Helium. These guys have proven they know what they're doing, and if they're sinking north of 10 million into this company to get HEVI online and producing, then that tells you something, doesn't it?
I don't know about anyone else, but this combined with the unusually large land endowment on this junior, and a CEO with acquisition experience doesn't seem like an accident to me.
The deal is basically that NAH fronts most of HEVI'S costs in exchange for a cut of the profit.
So basically, we have a new character (company) trying to find an incredibly lucrative product, the demand for which is only going to go up.
....Who's being guided by the biggest player in the game.
....Who's been provided a cheat code to play the game on easy mode.
....Being lead by a team with mad credentials, connections, and skills.
....Sponsored by a government that, frankly, doesn't have many other cash generating prospects.
...how'd I do? Lol.