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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. (TSXV: DME, OTC: DMEHF) has filed documents with the United States Federal Contractor Registration, a crucial step for becoming a supplier to the US Government. The company is focused on the exploration and development of rare earth gas fields in the US, particularly elements essential for green energy and high technology sectors. The press release emphasizes the importance of this registration for future business opportunities with government projects. Forward-looking statements indicate potential risks and uncertainties in the company's future performance.
Desert Mountain Energy Corp. has received approval from the Arizona Oil & Gas Conservation Commission to drill a new exploratory helium well in NE Arizona, about 30 miles from previously successful sites. The drilling contractor is set to arrive in 7-10 days, with plans for three new wells before completing them. The company intends to hire additional staff to manage the increased operations. These efforts align with Desert Mountain Energy's focus on developing critical resources for green energy and high-tech industries.
Desert Mountain Energy Corp. has upgraded to the OTCQX Best Market from the OTCQB Venture Market, enabling it to trade under the symbol DMEHF. This transition, effective April 26, 2021, allows the company to enhance its visibility among U.S. investors by meeting stringent financial and governance standards. CEO Robert Rolhfing expressed confidence in the company's ability to reach a broader equity market audience through this development. Desert Mountain Energy focuses on discovering and developing rare earth gas fields critical for renewable energy and high-tech industries.
Desert Mountain Energy Corp. (DME) announced the acceleration of expiry for its 8,203,062 warrants, originally issued under private placements in October 2020. Warrant holders must exercise their warrants by May 24, 2021, to avoid them becoming void. Exercising these warrants at a price of CAN$2.00 per share may yield gross proceeds of up to CAN$16.4 million, enhancing the Company's cash position and supporting its goals of becoming a fully vertically integrated helium producer. The CEO emphasized the significance of this early exercise for capital market stability.
Desert Mountain Energy Corp. has appointed Dr. Kelli Ward to its Board of Directors, enhancing its leadership as it aims for growth in Arizona's rare earth gas sector. Dr. Ward brings 25 years of experience across medicine, business, and politics, expected to provide valuable insights for the company. Additionally, the board has granted 300,000 stock options set at the previous day's closing price, valid for three years with full vesting in 12 months. The company is also progressing with drilling plans and infrastructure development.
Desert Mountain Energy Corp. announces its acquisition of 40 acres in the Holbrook Basin, intended for an initial processing facility and solar plant. The site offers a significant buffer from nearby businesses, optimizing production efficiency. Over the next 4-5 years, the Company plans to develop 60-70 wells, utilizing three mobile processing facilities. The Company has proactively ordered critical components with long delivery times to ensure timely startup in Q4 2021.
Desert Mountain Energy Corp. has announced the opening of corporate offices in Surprise, Arizona, as part of its U.S. operations. The company will soon reveal the site for processing facilities in Navajo County. This move aims to support local businesses during the COVID-19 pandemic without federal assistance. Over the past year, Desert Mountain Energy has increased its market cap from approximately $10 million CDN to over $125 million CDN as of March 8, 2021, with plans to start production in Q4 2021.
Desert Mountain Energy Corp. has issued options to its Directors, Officers, and employees priced at $1.72 CDN, above the market close. The options have a three-year expiration period and are backed by sufficient unissued shares in treasury for exercise. The company focuses on discovering and developing rare earth gas fields in the U.S., targeting elements critical for green energy and high-tech industries. The release includes cautionary notes regarding forward-looking statements, emphasizing the risks associated with exploration and market conditions.
Desert Mountain Energy Corp (TSXV: DME, OTC: DMEHF) has announced the acquisition of an additional 9,885.2 acres in Navajo County, AZ. This strategic acquisition is based on drilling results and provides the company with access to 15 highly prospective well locations. The management is enthusiastic about the opportunity to drill and develop these Tier 1 assets, with plans to commence drilling a three well package in late March to April.
Desert Mountain Energy Corp. has announced significant helium reserve estimates from its State 10-1 well, drilled in 2020, with a helium value of 7%. There are no other known helium productions within 100 miles of this well. The company has plans to drill three additional wells at approximately 4,000 feet depth. Additionally, it is set to open a new corporate office in Surprise, Arizona. The firm emphasizes that future production densities may increase after regulatory approval, though no such requests are anticipated in the near term.
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