DME Finally Reports FY 2023 Results

After almost 2 months of delays, Desert Mountain Energy (DME) has finally reported its FY'23 results (fiscal year ending Sep'23). During the year, the company raised C$23mm through a public offering in March 2023 and acquired the West Pecos Slope Abo Gas Field in New Mexico by Jul'23. The company transitioned its McCauley Helium Processing Facility to the new site due to regulatory delays in Arizona. However, the company faced administrative challenges, failing to file its annual audited financial statements by end-Jan'24, resulting in a temporary management cease trade order, which has now finally been filed. DME ended the year with a net loss of C$12.4mm, cash position of C$12mm, and total assets of C$59mm.

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