Pretty simple game I thought - write on here the day you sold, write on here the day you bought something else, and you're done/see you in 12 months for a check-up.
"DTR has not been an easy ride, nor DRE or almost any junior mining explorer, I feel confident that one day DRE will be a big success, but I think the first boat will be DTR, then I would happily sell DTR and buy DRE"
Yeah mate, there's hasn't been any/many easy rides in the last 12-24 months, so DTR (and DRE) are not alone/are with the majority.
If by "first boat" you mean producing gold, then I don't think DTR has any chance of producing in 9-10 months, which is when DRE is likely to start mining gold.
"I suggest you read the conservative scoping study to see if it has a promising future, also consider the top 2 shareholders are directors, one of whom is ex Macquarie bank top guy, decorated Australian and who has put his money and reputation on the line"
Well, I looked at DTR's Scoping Study announcement for a few minutes, as you asked.
It's no different to the many other of these companies with 100koz to 1Moz+ that are unlikely to ever/any time soon get into production/mining, due to their deposit grade, cost of production/building a plant, etc. etc.
DTR's Scoping Study shows that they need (pre-production) about $250M AUD to start mining.
Do you really think anyone would ever give an $8M company $250M, to (try and) get a mine going?
And then probably add another $50M-$100M in cost blowouts, etc.
If you're convinced someone will finance them then you should be fine, but if not, then good luck.
With DRE, much more simple, easy, to get into mining - outsource the whole mining, trucking and processing to a third party(s) and take 50% profit from each load of production.
You can do that when you're not needing capex to build a plant and are just digging and trucking dirt to a mine (300km) up the road.
This method has worked for numerous companies, with the best comparison being Ramelius and their Vivien deposit, which was trucked the same distance, but Vivien deposit grade was less than half of DRE's grade (5.7g/t vs 12.8g/t (ie. need to truck/transport more than twice the amount of dirt to produce the same amount of gold)), and also the price of gold when Ramelius was making money from Vivien was between US$1,200 & US$1,800, whereas it's currently almost US$2,700 (ie. even if the gold price crashed to/under US$2,000, DRE will still make money on it, and will make a lot of money at current prices).
Cheers,
GB.
DRE Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
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