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Desert Mountain Energy Corp. (DME) is a publicly traded resource company focusing on the exploration, development, and production of helium, hydrogen, natural gas, and condensate. The company has successfully reassembled its natural gas and helium processing facility and received the final operational permit, enhancing safety and gas production. With plans to increase gas throughput and expand production, DME is working towards exceeding 3,000 MCFGPD from existing wells and perforations. The company is negotiating processed gas sale contracts and exploring CO2 capture and processing opportunities. DME aims to cost-effectively produce food-grade CO2 for potential commercial sale, capitalizing on the shortage of food-grade CO2 in the market. By collaborating with Beam Earth Ltd., DME is set to commence hydrogen exploration in Arizona, expanding its operations and revenue streams.
Desert Mountain Energy Corp. announced the arrival of three components for its McCauley Helium Processing Facility on December 13, 2022, with installation completed by December 14, 2022. The fourth component is currently in transit. This facility, designed for flexibility in handling various helium grades, is primarily solar-powered, marking it as the first of its kind globally. The solar farm has made significant progress, with most underground wiring completed and all panels expected to be installed by Christmas 2022.
Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF) announced the successful completion of its wildcat well on the Gunnar Dome prospect. The company perforated and tested seven zones, focusing on gas composition for future drilling. The upper zone displayed 2.8232% Helium, while the lower had 0.7183% Helium, with high Nitrogen levels noted in both zones. The initial production will be metered and transported to the McCauley Helium Processing Facility. CEO Robert Rohlfing emphasized the importance of gas composition for effective production operations.
Desert Mountain Energy Corp. has completed testing of the McCauley Helium Processing Facility, with all modular units expected on-site by December 16, 2022. The company is preparing for commissioning in January 2023. CEO Robert Rohlfing highlighted strategic decisions, such as acquiring a trucking fleet, to mitigate delays and aims to produce helium to address the current shortage. The company focuses on the exploration and production of helium and other noble gases critical for renewable energy and technology industries.
On November 29, 2022, Desert Mountain Energy Corp. (DMEHF) announced the acquisition of 40 acres for its South Winslow prospect, enhancing access to state properties for development. The company is set to receive the McCauley Helium Processing Facility between December 13-16, 2022, with site assembly to begin thereafter. CEO Robert Rohlfing attended the NYSE opening bell on the same day, signaling corporate visibility.
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.
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