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They were talking over $100 million last year. What they got doesn't even cover their debt.
Desert Mountain Energy’s Helium Targeting Work Ongoing in Arizona’s Holbrook Basin
February 28, 2019/in News /
Vancouver, British Columbia — DESERT MOUNTAIN ENERGY CORP. (the “Company”) (TSX.V: DME) is pleased to announce that targeting work for its upcoming 2019 helium drill program is ongoing in Arizona’s Holbrook Basin in North-Central Arizona (the “Basin”). After preliminary review of geological, historical, cultural and environmental factors, the Company has developed seven distinct prime prospects in different areas throughout the Basin, which covers an area approximately 160 mi X 100 mi. Initially, the Company had identified 22 potential targets. The Company’s total acreage under lease in the Basin is now 39,742, of which 36,702 acres is under lease from the Arizona Department of Land and 3040 acres is under lease from the Bureau of Land Management of the U.S. Dept. of the Interior. The Company is planning to drill three helium wells in the upcoming program in different prospects in the Basin and is in the process of further prioritizing its targets. The wells are contemplated to be simple, vertical wells drilled to shallow depths between 1400 ft. and 3500 ft.
The Company has undertaken extensive geological studies of the Basin, including desktop review of all publicly available logs from wells drilled in the Basin for oil & gas, potash, water and other commodities, published engineering and geological reports from private companies and public sources including the University of Arizona, satellite spectral imaging studies and other materials from accredited sources such as the U.S. Geological Survey. In addition, the Company’s technical team has carried out extensive ground studies and mapping of key geological features throughout the Basin deemed to have the potential to serve as traps for significant commercial helium reservoirs. The Company’s prime prospects are characterized by anticlinal features, monoclines and other geological structures with surface expression, together with reservoir rocks and salt and anhydrite cap rocks typical of helium traps in the Basin. The Company initiated its exploration and land acquisition program in the Basin in the 4th quarter of 2017.
As part of its geological studies, the Company is undertaking 2-D seismic geophysical studiesof approximately 15 miles of seismic lines over five of the prime target prospects. Bird Seismic Services of Globe, Arizona, a highly experienced and well-respected local geophysics firm, is performing the seismic work under contract from the Company. In addition, Arizona-based LA Neal Consulting, LLC, a highly-qualified specialist in cultural resources and environmental regulatory matters, is performing desktop and comprehensive archaeological field studies to ensure compliance with applicable requirements of the Arizona Department of Land, Arizona State Historic Preservation Office and Arizona State Museum. The Company’s choice of drill targets is designed to focus on the best geological prospects in the Basin which at the same time involve minimal or no footprint on local communities, historic cultural resources or the environment.
According to Irwin Olian, CEO of the Company, “We are very excited by the progress of our technical team to date in developing highly prospective targets for our 2019 drilling program. We hope to complete our target selection and the permitting process to enable us to drill sometime later in the second quarter of this year.”
Looks like I have to hold until 2020. Disappointing but still has potential.
Earnings on March 7. Still holding here.
Enjoy. Video starts in foreign but interview is in English.
They should have turned the corner a long time ago. Nothing you can do until this bear sector goes bullish.
News and gold price going up still do not matter as the attack on all miners continues.
Thanks for the post. Saw that in December. It's about time they did something with all their cash on hand.
Still waiting on the AMAK sale.
It's very difficult to see AGI down where it is. Personally, I've lost faith in management. I hope I'm wrong.
Thanks for the video.
I think I'm wrong. I think it's imminent. I need to get busy.
I still think early/mid January we get a massive run in all metals. Looking at some M&A activity from now until then as majors and mid tiers look to bulk up production numbers.
Remember when press releases like this jumped a miner 8-10%?
Just a matter of time. I think we're 2 months away. Early January is my call.
Thanks!
Tried some test trades today just to see what would happen. Just market makers controlling the price and trying to grab cheap shares. Always dropped the bid a penny below my bid as soon as I attempted a trade. Doesn't look like any institutions are bailing. Just my opinion.
Industry leader. Put a ton of cash into improved equipment that would raise profit margins. Should be a $25+ share price. And we get this. I'm continuing to hold long term but they need to get their shit together.Too many excuses right now and not enough results. I will add that I'm looking to buy but not just yet.
Is it just me or is Young-Davidson extremely disappointing this year?
Well, looks like I'm stuck with this for another year. Beat on revenues. Got killed on EPS.
Earnings on Wednesday after the close and conference call Thursday morning. Looking for an update on AMAK and positive cash flow. Majority of Institutional holders increased their position. Hope they're right.
FYI...pay little attention to stock movement. It is Marketmakers controlling the price. No buyers or sellers around. When AMAK sells, we should jump to $18 or higher.
Thanks for the article. Just not sure this short attack is done.
AMAK update from today's presentation.
"Potential buyers approached in Q2
• Saudi investor most likely to purchase our position"
"Objective is financial exit which could generate significant cash"
Barrick and Randgold to merge.
Due to rising costs associated with logistics, energy and feedstocks, South Hampton Resources (a subsidiary of Trecora Resources) is announcing a 0.03/lb. increase on all grades of solvents, where contracts permit effective October 1, 2018.
Thanks for the update but I told some dildo on the GPL board that I would never comment on anything again. Keep of the good work. I know a lot appreciate your efforts.
I went to their presentation this morning. Sami Ahmad, CFO gave the slide presentation which was basically the same presentation on their website. One thing I was impressed by was the fact that he didn't sugar coat anything. He was upfront on the disappointing 2nd quarter and took responsibility for some of the failures rather than blaming them solely on their customers. For me, to see him standing in front of a room full of investment fund managers trying to convince them to investment in his company and not bullshitting them was admirable. You asked about new customers and they are close to finalizing a deal with a Canadian sand oil company. They are definitely selling their stake in AMAK. Almost sounds like it could be happening soon. I would be surprised if they still have their stake in 6 months. Until then, AMAK is providing a good revenue stream to the company. He said the sale of AMAK should get over $100 million for the company AFTER taxes which is great. I asked if that happens and they payoff/down debt has there been any discussion on a dividend. He said no. They want to build the company which will build shareholder value. I take that to mean share price. Wasn't impressed with the slide presentation as I have seen it before but came away felling good about the company based on how it was verbally presented. I did attend a couple of other presentations and Trecora had easily twice as many people at their presentation, if that matters. If you have any other question, feel fee to ask and I'll try to answer them the best I can based on what I heard.
They mentioned in their conference call that they are feeling out offers for their stake in AMAK. They valued their stake in 2015 at around $125 million. If the do sell AMAK, I assume they will pay off their debt. These are questions I will ask along with a possible dividend if they do sell AMAK and pay off debt. I want to find out more about the customer disruption that they occurred last quarter too.
Will never comment on anything again.
Why would a Canadian miner finance in the US with higher interest rates when rates are lower in Canada and all over the world?
You don't get because you're still drinking the PM scenarios kool-aid of years past. When are people going to learn that gold is like a stock now. When the big money wants it to go up, it goes up. When they want it to drop, it drops. All the other bullshit about scenarios that are good for gold/PM and scenarios that are bad for gold/PM are bullshit. Case in point, political turmoil is good for gold. If that is true, gold should be over $1,000,000. But it's not because it's bullshit. A weak dollar is good for gold. Gold was at $1360. The dollar dropped from 110 to 105 vs. the yen. Gold dropped too. More bullshit. Interest rate hikes are bad for gold. Gold has jumped after every interest rate hike. More bullshit. Are you seeing a pattern of bullshit yet? The "experts" keep pumping the scenarios to get the average investor to panic or get frustrated and sell so they can cover their short and and buy for their next run up. Just my opinion.
I'm in on their presentation in Chicago on August 29 unless some nonsense happens at work and I have to cancel. I hope to do a sit down chat with them and ask about AMAK and what they envision for the company 2 years down the road. If you have any questions you would like me to ask, post here and I'll do my best.
Greatly oversold. But so are a bunch of other miners. Looks like the MMs are accumulating shares.
Really hard trying to get an invite to the presentation. Still working on it but the host is really asking a bunch of questions as it's invitation only.
Decent company, awful stock.
Could someone please call the SEC and let them know that all those red columns at the bottom of the daily FNJN chart for the past week are buys so the share price really should be much higher?
Just opinions here. I don't give advise because the PM sector is very unpredictable.
Bought at $13. I'm going to try and go to their Financial Conference in Chicago at the end of the month.
Great day to be a market maker and run the price down to get some discounted shares. I bought some at $13.60 and late at $13.05.
Looking to get back in around $2.30 but I doubt it will drop that far.