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Bullboard - Stock Discussion Forum Desert Mountain Energy Corp V.DME

Alternate Symbol(s):  DMEHF | V.DME.WT

Desert Mountain Energy Corp. is a Canada-based resource company primarily focused on the exploration, development and production of helium, hydrogen, natural gas and condensate. The Company is focused on helium extraction from different raw gas sources in an environmental and economical manner by supplying elements deemed critical to the renewable energy and high technology industries. Its... see more

TSXV:DME - Post Discussion

Desert Mountain Energy Corp > Two main issues
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Post by BoomerHarrison on Jul 07, 2023 8:07am

Two main issues

First time poster, but I had to chime in.
Bad news is bad news, and we have to go with it when it does come in. That's the nature of stock investing. That being said, two things have big question marks in my mind relative to yesterday's nebulous, almost surreal news release.
1. Information relative to the permitting issue is extremely hazy. What EXACTLY is the problem? I mean, does anyone really know what the permitting problem is with Arizona? If so, please do provide references. Yesterday's NR was almost comical in the level of obfuscation. Essentially: ''our permitting issues with Az are dragging on, so... we decided to cancel the entire project, pack the station wagon and move everything to NM where there MIGHT be some He somewhere. Fingers crossed guys!!! GO DME!!'' In my mind, this move makes NO SENSE unless they see no possible solution to their permitting woes (they might even have had a definite NO to their permit request?), and have laid their rifles on the ground and raised the white flag. Is anyone else thinking the same thing?
2. A month or two ago, they make a NR essentially saying ''all good, everything proceeding according to plan, we're on the right track, dear shareholders, good news to come''. Now, this SEEMs like a patently untrue NR considering what we've been told yesterday. Am I wrong here? I reinvested some money in this company based on that prior NR. Seems to me like I was duped, dare I say lied to... Anyone else feel the same way? 
Is there a way for shareholders to DEMAND a special shareholder meeting with management  where a Q&A is possible? Sorry for asking possibly neophyte questions, but this is the first time in my investing years that I feel that I have been ''had''...
Thanks.
Comment by littledave55555 on Jul 07, 2023 8:43am
I'm not sure why ,but when someone resigns , I'm guessing that person made some kinda mistake... An they said they are still working on getting the permits , but I stead of waiting what could be months ,ab still no they decided to move the plant to New Mexico..  I still see a good future for this company .. picking up the Bew Mexico project , was a smart move it is already making ...more  
Comment by Pfd123 on Jul 07, 2023 8:48am
I would suggest that that person who resigned did not make a mistake....but rather wanted to limit their possible exposure if things go south quickly.
Comment by Pfd123 on Jul 07, 2023 8:47am
From Don "We have been talking to Regulators since 2019 when we were verbally informed that no permit would be required. The Holbrook Basin is virgin territory for helium production and although we know more about it than everyone else, there are still surprises. The problem is a moving of the goal posts as we moved forward to production to a point where we had to make a decision to move the ...more  
Comment by rmreism on Jul 07, 2023 9:13am
Good info- the question is: even though there are permit issues, what did the optimization process that started in May show regarding the well numbers?
Comment by cosha94 on Jul 07, 2023 8:56am
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