Blue Star Helium raised A$7 million by issuing new shares to fund its Voyager helium production plant, scheduled for completion in the fourth quarter.

The funds will be directed towards activities related to the helium production facility and associated infrastructure, production development studies at other projects, and advancing the exploration portfolio.

The company also targets an additional A$2 million through a share purchase plan for eligible existing shareholders.

The new shares are set to be issued and quoted in late October.