DME Reports Q3'23 Results
- Aug 25, 2023
- 1 min read
In Q3'23 (quarter ended Jun'23), Desert Mountain Energy decided to move the McCauley Helium Processing Facility to the newly acquired West Pecos Abo Gas Field in New Mexico after suffering repeated delays in Arizona. On August 16, the Company completed the disassembly of the helium processing plant and reassembly has begun. DME plans on starting up the plant shortly after pressure testing of critical components is completed. DME incurred a net loss of C$1.6mm and generated a revenue of C$259k due to the addition of trucking revenue from the Company’s subsidiary, DMTL. The company ended with a cash position of C$14.9mm and total assets worth C$58mm.