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DESERT MOUNTAIN ENERGY CORPORATE UPDATE
DESERT MOUNTAIN ENERGY CORPORATE UPDATE Canada NewsWire TSX . V :...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"\n \n \n \n DESERT MOUNTAIN ENERGY CORPORATE UPDATE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX\n \n .\n \n V\n \n :\n \n DME\n \n \n U\n \n \n .S. OTC:\n \n DMEHF\n \n \n \n Frankfurt\n \n : QM01\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 5, 2022\n \n \n /CNW/ -\n \n DESERT MOUNTAIN ENERGY CORP.  (the \"Company\")\n \n (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01)\n \n From the President of the Company.\n \n \n \n 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.\n \n \n \n CRITICAL GLOBAL HELIUM SHORTAGE:\n \n \n \n 1. The Russian Amur Complex fires and explosion has removed a projected source of up to 25% of global helium demand.\n \n \n 2. The US Government (BLM) has suspended production at their\n \n Amarillo, TX\n \n 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.\n \n \n 3. Helium sources from\n \n Algeria\n \n and\n \n Qatar\n \n have also had issues.\n \n \n * 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.\n \n \n \n PATH TO PRODUCTION\n \n \n \n · In 2022, DME has set and cemented casing in 3 holes, Wells 5, 6 & 7\n \n \n \n Wells 4, 5, 6 & 7 have outlined the perimeters of the McCauley Helium Field, the Company is confident that we own all necessary leases\n \n \n 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\n \n \n The AGM confirmed shareholder confidence in the Management and Board over 26 million shares voted over 98% in favor.\n \n \n The Company still has over\n \n $18 million\n \n in the treasury and is confident in achieving positive cash flow without further financing\n \n \n \n \n Q2, 2022\n \n ...