Important/new parts in bold. If the electronics show up in mid may as advertised, we are ahead of schedule.
TSX.V: DMEU.S. OTC: DMEHFFrankfurt: QM01
ceo.ca
VANCOUVER, BC, April 5, 2022 /CNW/ -
DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01)
From the President of the Company.
As DME continues on its path to production, the Company would like to make an update on the progress through to the start of Q3.
CRITICAL GLOBAL HELIUM SHORTAGE:
1. The Russian Amur Complex fires and explosion has removed a projected source of up to 25% of global helium demand.
2. The US Government (BLM) has suspended production at their Amarillo, TX plant that operates and maintains a helium storage reservoir, enrichment plant, and pipeline system. This plant was responsible for over 40% of the domestic demand for helium.
3. Helium sources from Algeria and Qatar have also had issues.
* Due to this critical shortage, the Specialty Gas Suppliers have declared Force Majeure and cancelled all supply contracts resulting in helium increasing 300% in price over the last 6 weeks.
PATH TO PRODUCTION
· In 2022, DME has set and cemented casing in 3 holes, Wells 5, 6 & 7
- Wells 4, 5, 6 & 7 have outlined the perimeters of the McCauley Helium Field, the Company is confident that we own all necessary leases
- The court case, specifically the Temporary Restraining Order (TRO), launched by the City of Flagstaff has been successfully overturned unanimously by the appellate court in DME's favor
- The AGM confirmed shareholder confidence in the Management and Board over 26 million shares voted over 98% in favor.
- The Company still has over $18 million in the treasury and is confident in achieving positive cash flow without further financing
Q2, 2022
- Completion of the gathering system for wells in the McCauley Helium Field is scheduled to begin at the end of April 2022
- Testing and publishing the results of Wells 5, 6 & 7 is scheduled for the end of April 2022
- The modular buildings that will house the finishing facility have been fabricated and delivered to the contractor. All the materials for the mechanical portion of the processing facilities have been delivered, and assembly of the plant is scheduled to begin by the end of the month. We anticipate delivery of the remaining components of the electronic controls to be delivered by mid-May.
"We continue to move forward on the road to production with our world-class, zero-carbon processing facility," says Robert Rohlfing, CEO of Desert Mountain Energy Corp. "In a world experiencing critical shortages of helium supply, our team is excited to be moving forward and become part of the solution by supplying helium to domestic end-users. We anticipate and look forward to cash flow generation and rewarding our shareholders for their continued support."
Not much for the meme stuff. Means I miss some, sure, also means I avoid some pitfalls.
eletric-vehicles.com
