General Discussion Banter DMI, page-743

Value of shares on issue: 95,090,001*0.35 ~ 31.38M
value of the options on issue at 35c: 40,230,000*(0.35-0.14) ~ 8.45M

Don't forget 15M performance shares will will kick in if a JORC of 80k tonnes are achieved. This will add 15,000,000*0.35=5.25M to the MC.

To be precise he paid 45.08M for this company - an EV of about 43M.

Just some peer comparison (that are not so much peers as they are years ahead of DMI):

NLC has recently done a resource increase of 227% now they have a 7 mt resource of average grade >600mg/l. EV of about 75M CAD.

LPI owns 51% of 2.15mt resource of average grade over 1100mg/L (attentioned to the person here who said has never seen grade of over 900mg/l) further drilling could see the resource increase to 4mt. EV of about 50M AUD.

Still think you are buying a bargain? Need to think again...