DRM 0.00% 33.0¢ demetallica limited

Ann: Doray Completes Institutional Placement for A$24.9 million-DRM.AX, page-16

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  1. 1,644 Posts.
    lightbulb Created with Sketch. 804
    100% agree. Looking back at the pretty reports coming out just before Deflector started processing, they were painting a picture of 70k to 80k ounces per year and no hint that costs could exceed even $1400 AISC in the short term..
    Granted they had trouble with original ore and had to switch up recovery process, they still should have had a good idea of general extra cost and limited recovery for the first few Months..
    It may have been alluded to somewhere but certainly wasn't communicated anywhere to the extent that Deflector had performed so far..
    More knowledgable investors could probably have spotted this and clearly a lot got out through the journey down..

    But certainly better communication of the challenges and possible figures for the first few Months I think would have gone some ways to keeping the SP from dropping so much..

    "There will be challenges here and some lean Months, but we know what to expect, and eventually this will be a winner" I think would have been received more positively than what we got... Releases which pumped up the entire operation, then 4 Months later a cap raise at half the price to cover debt repayments because Deflector has probably only made a profit in the last few weeks..

    Hopefully it's a lesson learned..

    And at least from here we've past the worst of it, can start making money again, and hopefully have some good exploration/drill results...
 
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