Pulsar Helium Strikes Pure Play Gold in Minnesota Geology
Pro subscribers received this analysis 5 days before public release. Subscribe for $29/month for instant access to every deep dive, live position updates, and the full research archive.
While peers chase helium as LNG byproduct, PLSR found 10%+ concentrations in standalone reservoirs.
THE CATALYST
Pulsar's Topaz project hit three additional high-pressure gas zones in Minnesota, extending discoveries beyond the initial strike. The 10%+ helium concentrations exceed typical industry finds by an order of magnitude.
THE MISUNDERSTANDING
The market treats all helium plays as LNG derivatives exposed to natural gas volatility. Pulsar's Minnesota geology delivers primary helium production divorced from hydrocarbon cycles - pure exposure to industrial gas demand without energy commodity noise.
THE STRATEGY
Buy PLSR as helium shortage intensifies while competitors remain tied to LNG economics. Watch for flow test results from the new zones. Thesis breaks if concentrations drop below 5% or if production costs exceed $200 per thousand cubic feet.
DELBERT'S TAKE
Found the needle in the haystack - helium without the natural gas baggage.