Sprott’s Stake and 8.7% Helium Hit Add New Fuel to Max Power Mining’s Year-Long Rally

Billionaire miner Eric Sprott buys 1M shares, signaling confidence in Max Power's helium-rich Bracken well and commercial pivot toward production.

Eric Sprott, the Canadian mining billionaire known for betting early on resource stories, just put his money behind Max Power Mining. Through his holding company, he bought 1 million shares this week at an average of roughly C$2.02, injecting C$2 million into the explorer. The purchase lifts his total position above 17.4 million shares, with an additional 12 million warrants in tow – a clear vote of confidence that the company is nearing a commercial breakthrough.

The stock responded immediately. On Friday, it surged nearly 11% to close at €1.63, matching the fresh 52-week high and extending a twelve-month run that has left the shares more than ten times higher. From a low of €0.12 a year ago, the equity has now advanced 319% year-to-date. Investors are betting that recent drilling results and a string of strategic moves will transform Max Power from an explorer into a producer.

Helium concentrations that change the economics

The immediate catalyst is the Bracken drilling campaign at the company’s Grasslands Project. The hole was successfully sunk to 2,600 metres and cased, revealing three zones of interest – two for natural hydrogen and one for helium. The helium numbers are what stand out. Average grade across the field sits at 4.4%, with peak readings of 8.7%. Those concentrations are high enough to turn what is often a by-product into a standalone revenue driver, particularly as helium’s association with natural hydrogen is proving to be a repeatable geological pattern at Max Power’s sites.

At the Lawson complex, a 3D seismic survey completed in April more than doubled the mapped structure to 14.2 square kilometres. The energy consultancy GLJ of Calgary has been hired to refine the resource model and optimise the drilling programme. A confirmation well at the crest of the Lawson structure is slated for mid-2026.

Commercial pivot gains traction

Max Power is not just drilling holes; it is restructuring for the next stage. In May, Tony Van Burgsteden stepped in as chief financial officer. He previously held the same role at Orano Canada, the uranium producer, and at Federated Co-operatives Limited, a multibillion-dollar cooperative. The appointment signals that management intends to shift the company out of pure exploration and into development.

The balance sheet supports that transition. The company recently raised C$20.5 million in new capital, earmarked for completing and testing the Bracken well, acquiring fresh seismic data at other targets, and funding the Lawson confirmation well.

Meanwhile, demand is assembling in Saskatchewan’s emerging industrial corridor. The city of Moose Jaw signed a letter of intent in mid-May to explore industrial hydrogen use with Max Power. Just as significantly, Bell Canada plans to build a C$1.7 billion AI data centre on land adjacent to the company’s holdings – a potential anchor off-taker for both energy and helium.

What comes next

On 18 May, Max Power will deliver a comprehensive operational update that includes first data from the Bracken well completion and an updated resource model from GLJ. For a stock that has already added 318% since the start of the year, those disclosures will test whether the operational substance can keep pace with the valuation. With a billionaire, a municipality, and a data centre all circling, the company’s story is no longer just about drilling – it is about building a corridor.