Well, after reading through the quarterly twice, I am still not sure exactly what to think.
U/G is now not going to be processed until 'the quarter ending June 30'. As they have the open pit stock piles. soo... they are def going to mining U/G, but.. not processing yet, so costs will be higher? As the open pit grade is lower, but production costs are lower than U/G..?
The middlings value is already accounted for. Basically DRM was cash flow neutral with 2 producing mines....
Andy Well will have another terrible quarter as the Judy lode is not hitting the grades expected...
With an E/V of approx $200m, and neither mine technically making a profit, DRM does indeed need things to go very right for it to rise again.
Very hard stock to value right now. Sentiment, hold the few shares I have and wait for clarity if it ever arises.
DRM Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held