As a lover of DTE's story and as much as it pains me to say it; it appears as though the market has been hanging on the 2012 H2 Fin Report and has reacted poorly to this statement from Page 15;
"... The Company held cash and cash equivalents of A$29.7 million (excluding cash backed guarantees) as at 31 December 2012 and as at 15 March 2013 the Company holds cash balance of A$17.5 million. Should the Company continue its current rate of spend of exploration and project development as well as maintaining spend on overheads, the Company will require additional funding within 12 months. ..."
That huge store of cash DTE once had has dwindled as the company has accelerated its plans. Given the options identified in the 2012 H2 Fin Report I would expect they are fully addressing that cash flow imperative while taking full heed of shareholders' interests.
Disclosure: I've traded somewhat in DTE and expect we are about to witness a major 'double bottom' at about 11c; but if that fails on higher volumes I'll cut my losses and wait until the finances are fully sorted and buyback in later.
DTE Price at posting:
11.1¢ Sentiment: None Disclosure: Held
