"At 31 December 2015, the Company has no options on issue." (Final Report)
This means the fully diluted market cap is approx $22 Million at 23 cents.
I have calculated (through a conservative approach - specifically: not including mineral exploration costs, or 'other assets') Net Tangible Assets at $27 Million.
Net Profit - $2.6 Million.
Profit last year (excluding impairment cost) - $6.2 Million.
This doesn't take into account any of the new exploration work, and even if it were never to produce another ounce of gold, it would still be a buy.
I don't like to use 'cappers' as an excuse for a low SP, but to be honest I fail to see how else DRA is below 30c.
