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Desert Mountain Energy Corp ( (TSE:DME) ) has issued an update.
Desert Mountain Energy Corp. has signed an agreement with Roswell Information Park LLC to purchase all natural gas produced by DME in the West Pecos Field, with Roswell Information Park LLC serving as the primary purchaser for all natural gas entering the pipeline. This collaboration aims to foster job creation, long-term growth, and infrastructure enhancements in New Mexico, with plans for a new information center expected to generate significant power and potentially sell excess power back to the grid. The initiative is set to create new revenue streams and job opportunities, emphasizing DME’s commitment to innovative, sustainable energy solutions. Additionally, DME and Sustany LLC are exploring hydrogen assets and developing smaller data centers in Arizona to optimize land holdings and contribute to economic growth.
Spark’s Take on TSE:DME Stock
According to Spark, TipRanks’ AI Analyst, TSE:DME is a Neutral.
Desert Mountain Energy Corp faces significant financial hurdles, with negative income and cash flow metrics being major concerns. The technical analysis suggests bearish trends, and the valuation is unattractive due to ongoing losses. However, recent corporate events, including strategic partnerships and legal victories, offer some optimism for future growth, but they are not yet sufficient to outweigh the financial challenges.
To see Spark’s full report on TSE:DME stock, click here.
More about Desert Mountain Energy Corp
Desert Mountain Energy Corp. is a publicly traded resource company focused on the exploration, development, and production of helium, hydrogen, and natural gas. The company emphasizes helium extraction from various raw gas sources in an environmentally and economically sustainable manner, supplying critical elements to the renewable energy and high technology industries.
Average Trading Volume: 30,808
Technical Sentiment Signal: Sell
Current Market Cap: C$18.84M
Find detailed analytics on DME stock on TipRanks’ Stock Analysis page.