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Shares of Renergen, the owner of the Virginia liquefied natural gas (LNG) and helium project in the Free State, lifted 6% on Monday after it announced the production of helium at its operations.
Renergen has come under pressure as a result of the delay in getting helium production up and running. Prolonged plant maintenance between September 2023 had also hit its LNG volumes in its year to end-March when it posted a hefty loss.
Following the initial commencement of helium operations in early 2023, a leak in the helium cold box required the unit to be removed from the site and repaired, leading to significant delays.
