Helium-3 Discovery at Pulsar Drives Critical Materials Supply Chain Revolution
Two U.S. Federal laboratories independently confirm helium-3 at 11.2-11.9 ppb from Pulsar's Topaz Project, signaling the next tier of critical materials beyond REE.
SIGNAL OF THE DAY
Two U.S. Federal labs confirmed helium-3 isotope concentrations of 11.2-11.9 parts-per-billion from the Topaz Project. This discovery hits as Wall Street rotates from AI infrastructure to implementers. Helium-3 is the next critical materials bottleneck for quantum computing and advanced energy.
COVERAGE PULSE
POET ($5.58): Eight awards for photonics tech since June 2024. New share issue dilutes 132 million outstanding shares despite operational excellence in AI optics demand.
Energy Fuels ($22.60): $927M working capital, $700M convertible offering complete. Produced 1.0+ million lbs finished U3O8, mined 1.72M lbs, beat 2025 guidance. Ross Bhappu becomes President and CEO April 15, 2026.
First Majestic ($27.55): $211M profit versus $101.9M loss in 2024. Record quarterly silver production 4.2 million ounces, up 77% year-over-year. Silver pushing toward $88-per-ounce.
Pulsar Helium ($0.80): Closed placing of 9,191,175 shares at £0.80 for $10 million. Jetstream #6 hit three pressurized gas zones including two intervals with bottom-hole pressures exceeding 1,000 psi.
WHAT THE MARKET IS NOT TALKING ABOUT
Energy Fuels is the only U.S. company producing separated "heavy" REE oxides from commercial ores. Their REE separation works on multiple feedstocks. Helium-3 adds upside for quantum computing and advanced energy. Domestic critical materials plus helium-3 confirmation creates a supply chain moat defense procurement prioritizes over cost.
ON THE RADAR - Next 7 Days
- February 27: Energy Fuels Earnings Call (11:00 AM ET) - Leadership transition details and 2026 uranium delivery guidance determine if $22+ holds.
- March 16: POET at OFC Conference (Los Angeles) - Lightwave award during Optical Fiber Communications Conference. Industry validation as $5M production orders ship second half 2026.
- Ongoing: Pulsar Flow Testing Program - Flow testing on Jetstream #3 and #4 begins around February 15, 2026. Each test runs six weeks. Commercial viability data determines if helium-3 premium justifies development costs.