Siren, it seems DVM has come partially clean with the ASX release late on Thurs 3 Apr 2008 regarding an indicative timetable and saying that the "re-quotation of DVM's post-consolidation securities on ASX ... unlikely to occur before 28 April 2008".
Well that pushes the date back somewhat and the caveat of "unlikely" means probably not in April. Although down, the closing shareprice of 2.8 cps will not have taken this announcement into account. Anyone holding shares may have to be in for the long haul and be prepared to see them not trade for a while.
Signs are from the EGO site that Lake MacLeod could be a week into drilling by the end of April, and the DVM shares will not be trading. Also, as DVM will have expended some of the cash on Lake MacLeod it will make it harder for DFM to satisfy the ASX re-quotation requirements of future commitments of at least half the cash. Any proceeeds from a placement while not quoted will only add to the cash, half of which then needs to be committed.
I only hope Ivan Burgess has some deals waiting.
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