They aren't burning as many bucks as you all might think, even if they do have 2 rigs turning. I wouldn't think they will need to do a raising this quarter, and in any case, the MD is coy about when and where, although it would seem likely they raise money on the AIM to those copper-loving ad Africa-friendly Britih LME tyc0ons.
The $1M AIM share issue was basically only enough to cover listing costs, get them registered and liquid on the bourse, and shore up a few sweeteners for British based insto's. With the Dikoloti project shaping up, my bets are on DML raising equity for the capital costs on AIM and not the underperforming, skittish and sheep-filled ASX which thinks Botswana is a province in Libya and not a stable, A-grade African democracy.
Face it guys, you're unlikely to be buying this stock at sub-40c anytime soon via a placement via whichever desperate Aussie stockbroker tries to con Galt and Read into believing their stories about how solid they are and how tight they'll sit on the stock for now and until the next time they want a cash position and the LME future slips 3% in an orgy of summer holiday spurt sharing.
AIM might be a bit of a cesspit of fools and shady mediterranean tyc0ons rolling in their own filth, but the British understand Africa better than the average Australian who doesnt care as long as the Springboks lose their rugby tests. They pay up the market cap of explorers with African projects a lot better than the ASX, and they will plump out the capex for Dikoloti and $5M for the infill drilling of Maun and a BFS before you say
DML Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
