Tax loss selling has ended with DML dropping to trade at 2.4c last Friday. My bid at 2.3c was not hit, and I neglected to lift it higher to get some more before this month's recovery started (with a higher low yesterday and today).
But I may not be too late...
The intended Capital Raising is providing some overhang, but the real dampener at the mo' is the fact that the Long form documents for the company's Debt Re-profiling have yet to be signed (due by no later than 11 July as a condition).
I'm expecting little if any movement higher than 2.8c until that condition is met. IMO, there's value here getting in beforehand. I would be VERY surprised if those long form documents are not already on the printer...getting that nailed has got to be a win/win for all parties concerned, not least of all us shareholders.
Expect an announcement to that effect sometime next week...then watch the sp climb.
BC
DML Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
