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Desert Mountain Energy (DMEHF) Stock Rises After Commencing Drilling on New Well

Wednesday, May 19, 2021 11:54 AM | Kyle Depontes
Desert Mountain Energy (DMEHF) Stock Rises After Commencing Drilling on New Well

What is going on with DMEHF?

Desert Mountain Energy (DMEHF) stock jumped today after the company announced it had begun operations on well #4, located in the Holbrook Basin in the state of Arizona. Desert Mountain Energy is an exploration company focused on the discovery and development of rare earth gas fields in the U.S.

Shares of DMEHF rose 3.25% to $3.17 as of Wednesday at 11:29am.

What does this mean for Desert Mountain Energy Corp?

Desert Mountain Energy's commencement of drilling on well #4 in the Holbrook Basin will be key as it seeks to explore an area that has been dubbed "the Saudi Arabia of helium," and is expected by Desert Mountain to become one of the world's largest sources of helium. The company plans to drill down to the bedrock granite, a process that is expected to take ten days to drill and test. Once completed, DMEHF will have drilled approximately 3900 feet, the deepest well to date.

The dig will be carried out with cutting edge testing equipment including drones and air borne sensing equipment, and could uncover exciting finds such as rare earth gases in addition to helium.

Sentiment Score - ,bullish

Desert Mountain Energy Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on DMEHF!

Desert Mountain Energy Corp is a forward-looking resource company actively engaged in the exploration and development of Helium and Rare Earth Gas properties in the U.S. Southwest. The company has an executive office in Vancouver, Canada.

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