we are on the same page. The use of EV/resource oz or reserve/OZ is only for as a comparision tool ONLY as it helps to identify those stocks that are anomoulus to others when you plot these values up against other variables.
I to live in Melbourne and have attend a number of presentations there and elsewhere. Everyone is about primarly about Andy well (and rightly so) with talk of the potential upside elsewhere based on exploration drilling.
one way to look at the future profile of DRM as a prodcuer is to find a current producer with a similar profile. When you do this you will see that DRM is being valued even above those companies that it could morph into. Unfortunately I am not prepared to go into details and supply examples and numbers. Remember when a stock moves into development there is generally little upside until they hit steady production. Therefore unless DRM does become a takeover target or finds a 1moz the stock is at best a hold only. 1moz does not quickly for HGNV deposits even ones as good as Andy well.
If I was you I would hold on to DRM but I would be buying NST and similar instead. Despite my age I am very aggressive on punting on junior goldies!
Take a look at PXG, EXG to small explorers and have a look at BDR and RSG for larger undervalued stocks
DRM Price at posting:
$1.47 Sentiment: None Disclosure: Not Held
