Desert Mountain Energy Stock Price, News & Analysis

Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF) announced that its contractor GENERON is nearing completion of the McCauley Helium Processing Facility, with testing scheduled to begin by November 18, 2022. The facility's infrastructure is complete, and modular units are set to enhance helium production for Arizona end-users. The CEO, Robert Rohlfing, described this as a significant milestone, marking the company's commitment to becoming a primary helium producer. Additionally, testing of new zones at the Gunnar Dome well is expected to yield results by the end of November.

Desert Mountain Energy has granted 815,000 incentive stock options at an exercise price of $2.35 per share to its directors, officers, employees, and consultants. These options are subject to a vesting plan and are exercisable for five years. The company also corrected its previous report regarding a private placement on September 13, 2022; it raised gross proceeds of CAD $5.588 million and issued 2,149,461 Units. Desert Mountain focuses on helium, hydrogen, and noble gases essential for renewable energy and high-tech industries.

Desert Mountain Energy Corp. (TSX.V: DME, OTC: DMEHF) announced key updates on its operations on October 12, 2022. The company plans to commence a cement squeeze operation at the Gunnar Dome Well, which will take 14 to 21 days. The McCauley Helium Processing Facility is progressing, with trenching completed and security measures underway. Future drilling plans include independent studies required for permitting, with a joint venture established with Beam Earth Ltd. to explore potential hydrogen collaborations. The company maintains a strong financial position, prepared to advance its operations effectively.

Desert Mountain Energy Corp. (DMEHF) has signed a Joint Operating Agreement (JOA) with Beam Earth Ltd., focusing on hydrogen zones in the McCauley helium field. This partnership is set to enhance exploration efforts in helium while leveraging Beam Earth's hydrogen expertise. The Company has also identified helium in the Gunnar Dome well but plans to isolate a tested zone incompatible with its processing facility. Additionally, Desert Mountain has filed a counterclaim against the City of Flagstaff regarding an original injunctive action.

On September 14, 2022, Desert Mountain Energy Corp. announced that a Coconino County, AZ court dismissed all claims against it by the City of Flagstaff, except for one breach of contract related to a licensing agreement. The company is assessing the ruling's details and will announce future steps regarding its well. Desert Mountain Energy focuses on the exploration and production of helium, hydrogen, and noble gases, targeting key elements for renewable energy and high-tech sectors.

Desert Mountain Energy Corp. (TSX.V: DME, OTC: DMEHF) closed a non-brokered private placement on September 13, 2022, raising CAD $6,090,400. The issuance consisted of 2,342,461 units at $2.60 each, with each unit comprising one common share and one share purchase warrant, valid for three years at $3.50 per share. Proceeds will fund helium processing facility development and general operations. A total of $128,128 in finders' fees was paid. Securities from this offering are subject to a four-month hold, expiring on January 14, 2023.

Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF) announced the receipt of $5.3 million from a private placement, with the remaining $5.98 million expected shortly, pending TSXV approval. The completion rig is currently at the Gunnar Dome Well site, with completion and testing projected for next week. Results from independent laboratory sampling will be shared once available. The company focuses on exploring helium and other noble gases critical to renewable energy and high technology industries.

Desert Mountain Energy Corp. (TSXV: DME; OTC: DMEHF) announced a non-brokered private placement aiming to raise up to CAD $5.98 Million. The offer includes up to 2.3 million Units priced at CAD $2.60 each, consisting of one common share and one share purchase warrant. Each warrant allows the purchase of an additional share at CAD $3.50 for three years, with potential acceleration if shares reach CAD $7.00 for ten consecutive trading days. Proceeds will support working capital and general corporate needs, pending TSX Venture Exchange approval.

Desert Mountain Energy Corp. has acquired an additional 40 acres in Navajo County, Arizona for future facilities. The company has made significant progress on the Gunnar Dome prospect, with a completion rig scheduled for late August 2022. Results from testing and sampling will be announced subsequently. Notably, CEO Robert Rohlfing was invited to present at the Asia Pacific Drilling Technology Conference in Bangkok, highlighting the company's advancements in sustainable drilling technologies and their near zero-carbon processing facility for noble gases.