DME Reports Q1'24 Results

Desert Mountain Energy (DME) released its Q1'24 results reporting a net loss of C$888k and working capital of C$4.4mm. DME engaged in a partnership with Beam Earth for natural hydrogen exploration on its acreage. The company has not had success in its helium efforts and seems like it is trying to diversify its portfolio assets. It reported an impairment charge of C$5.3mm on its West Pecos acquisition, given the high decommissioning liabilities. YTD to end May'24, the company shares are up by 7%.

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