I've been watching DML over the cliff the last couple of days and wondering whether it is worth an entry now.
Assuming the takeover doesn't go through I struggle to see considerable downside in the medium term at the current share price.
This isn't Sundance or Flinders Mines. Discovery have a producing asset that should be at full production in the very near future. Copper to me looks like it is set to go on a run this year.
The chart is suggesting that it could retest that 90-95 cent level.
Can anyone explain if the issues raised re reserves are a major concern from a long term production standpoint?
To me the whole episode has been pretty well manufactured by the Chinese.
DML Price at posting:
$1.13 Sentiment: Buy Disclosure: Held