Avanti Helium shares were higher Thursday morning after the company said it signed an agreement to develop a helium recovery plant to process the raw gas from its helium pool in Montana.
At 9:52 a.m. ET, shares were trading nearly 17% higher at 77 Canadian cents (58 cents).
The Toronto-listed helium exploration and development company said it signed a midstream agreement with IACX Resources Montana, a subsidiary of IACX Energy to build, finance and operate a helium recovery plant to process the raw gas from Avanti’s Sweetgrass helium pool.
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IACX will be tasked with building, financing and operating the helium recovery plant on site near the Sweetgrass pool.
Initially, the plant is expected to process 10 million cubic feet of raw gas a day, with the option of increasing production to 15 million cubic feet a day.
Avanti expects initial production early in the first quarter of next year, it said.
As part of the agreement, Avanti will pay a monthly fee for seven years with an option to renew annually for the life of the pools.
Write to Adriano Marchese at adriano.marchese@wsj.com
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A judge ruled that a Montana law which defined “sex” in state law, when referring to a person as only male or female, was unconstitutional, saying that the law’s description did not explicitly state its purpose.
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District Court Judge Shane Vannatta struck down the 2023 law on Tuesday after a group of plaintiffs who identify as transgender, nonbinary, intersex and other identities sued, arguing the law denies legal recognition and protection to people who identify as gender-nonconforming, according to The Associated Press.
Vannatta did not address the claim of a lack of legal recognition and protection, but did say that the bill’s title did not adequately explain whether the word “sex” referred to gender or sexual intercourse and that it did not indicate the words “male” and “female” would be defined in the body of the bill.
“The title does not give general notice of the character of the legislation in a way that guards against deceptive or misleading titles,” Vannatta wrote.
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A judge ruled that a Montana law that defined “sex” in state law, when referring to a person, as only male or female was unconstitutional.(AP)
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Montana’s law, S.B. 458, is similar to ones passed in Kansas and Tennessee.
The bill sought to revise laws to “provide a common definition for the word sex when referring to a human,” the text reads.
It defines “male” as “a member of the human species who, under normal development, has XY chromosomes and produces or would produce small, mobile gametes, or sperm, during his life cycle and has a reproductive and endocrine system oriented around the production of those gametes.”
“Female” was defined in the bill as “a member of the human species who, under normal development, has XX chromosomes and produces or would produce relatively large, relatively immobile gametes, or eggs, during her life cycle and has a reproductive and endocrine system oriented around the production of those gametes.”
Plaintiffs who identify as transgender, nonbinary, intersex and other identities sued, arguing the law denies legal recognition and protection to people who identify as gender-nonconforming.(ALLISON DINNER/AFP via Getty Images)
The law was sponsored by Republican state Sen. Carl Glimm, who said the legislation was needed after a state judge ruled in 2022 that transgender people could change the gender markers on their birth certificates.
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Republican Gov. Greg Gianforte is proud of the law he signed, which he said codified the long-recognized and commonsense definition of sex, the governor’s spokesman Sean Southard told The Associated Press.
“Words matter. And this administration is committed to ensuring words have meaning, unlike this judge, who apparently needs a dictionary to discern the difference between a noun and a verb,” Southard said.
Montana Attorney General’s Office spokeswoman Emilee Cantrell said her office would continue to defend the law “that reflects scientific reality.”
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Republican Gov. Greg Gianforte is proud of the law he signed, a spokesman for his office said.(Garrett Turner/Office of the Governor)
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The American Civil Liberties Union of Montana applauded the ruling.
“Today’s ruling is an important vindication of the safeguards that the Montana Constitution places on legislative enactments,” ACLU of Montana legal director Alex Rate said.
The bill was passed in 2023 during a legislative session when a ban on gender transition treatment for minors was also approved and when transgender Democrat state Rep. Zooey Zephyr was expelled from the House floor after a protest against Republican lawmakers who had silenced the Democrat.
HELENA — For months, state lawmakers and a state task force have been digging into Montana’s property tax system, and now, they’re moving closer to making some recommendations on possible changes.
Rising property taxes became a major political issue in Montana over the last year, after the state announced updated property assessments and many residents saw their home values spike. Since then, the Legislature’s Revenue Interim Committee has been conducting a study on property taxes, and Gov. Greg Gianforte convened a task force to work on addressing the issue.
On Monday, the Revenue Committee held a meeting in Helena, and they got an update on the task force’s work. Sen. Greg Hertz, R-Polson – who sits on both the committee and the task force – said subcommittees have been looking at ideas like requiring larger vote thresholds to pass local government levies, requiring all levies to go before voters for reapproval every ten years, and adjusting the inflation factor that caps how much local governments can raise in revenue from levies.
The task force is set to deliver a report to Gianforte by Aug. 15. Hertz said they’ll be planning for that report at their next meeting July 8, and that they’ll likely have draft recommendations out for public review by late July.
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Committee members said they’re waiting to see what the task force recommends, as they consider what actions they want to take on their own.
“I just hope that committee has some clarity pretty soon so we can know what we think our role is in that whole process, too,” said Rep. Larry Brewster, R-Billings.
“Our clarity will be coming soon,” Hertz responded.
The committee also heard updates Monday on a working group led by the Montana Department of Revenue that has been looking at potential changes to how tax rates are set for agricultural land – specifically, how landowners qualify for certain exemptions and reduced rates.
DOR leaders said the current system had created inequities between landowners. They presented three proposed bills Monday: one that would eliminate a land classification that created significantly different tax liabilities based on a parcel’s size, one that would adjust how the state values homes on agricultural land, and one that would require owners of large properties to demonstrate they’re actively using land for agricultural purposes to qualify for a preferential tax rate.
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“The purpose of that is for some of these larger properties that have been purchased – say, a 20,000, 30,000-acre ranch – trying to ensure that, if it’s receiving the preferential tax treatment for ag classification, it’s actually being used in an agricultural capacity and not being used just for someone’s recreational playground,” said Bryce Kaatz, bureau chief of DOR’s Property Assessment Division.
In public comment, the committee heard from some people supportive of taking a closer look at these changes and others concerned about potential unintended consequences for agricultural landowners. Committee members decided to delay action and dig deeper into the possible recommendations at their meeting in August, to take a closer look at the impacts.
“There are some significant inequities that exist, and we need to make sure we do everything within our power to set up a predictable, fair and equitable system,” said Rep. Mark Thane, D-Missoula, who sits on the committee and the working group.
State officials are working to get refunds to Browning residents who were overcharged on their property tax bills.
Lee Montana first reported homeowners in Browning received unusually high appraisal values and property tax bills last fall — some four times the amount they paid last year.
That led the state Department of Revenue to re-evaluate the homeowners’ properties. The agency says a computing error miscalculated the values of 385 properties in town. Now, state officials are working to get refunds to Browning residents who were overcharged on their property tax bills.
Bryce Kaatz with the department told lawmakers in late June that all affected residents should receive letters with their updated appraisals this week. He said the department is working with Glacier County to issue refunds to homeowners as quickly as possible.
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Kaatz said the agency is looking at safeguards to prevent the error from happening again.