Since the shareholders are probaly in the dark about the real business of the company, I would like to convey info that I gleaned from detailed questioning before and after the EGM
The exploration program already approved has not been, and will not be affected by the court proceedings. It has actually been raining in the Pilbara, which has somewhat delayed things. Completion of beneficiation testing is 4- 6 weeks away, meaning that all 3 areas will have been tested for yield and grade. I understand that all areas are very consistent and results should reflect that.
Part of the approved program involved a geophysics survey to confirm drilling targets for the extension into DMA's 1927, of the long north to south snake like BHP Marra mamba, which is to the north of part of 1927. Cape Lambert, which is adjacent to DMA in that area, has a target of 100m tons of DSO, and my understanding is that the overall DMA target could end up being approx 100m tons as well. This Marra Mamba would add to DMA's already announced 23m Tons and be a blending material for DMA's 1.4b ton Detrital.
The Flood plains south of Spearhole is a very large area, and has potential to contain a very large tonnage of Detrital as the area is much bigger than Spearhole.
In addition there is the huge Conglomerate resource to the south and Channel Iron target near Rio and Giralia.
This is only part of the reason why I have a Strong buy on DMA.
Don't be fooled by the current movement down. They are trying to worry you to sell. They will NOT give you a chance to buy back quantity below 20c
DMA Price at posting:
21.0¢ Sentiment: ST Buy Disclosure: Held
