so many scary stuffs coming up when DML SP already slumped 80%. Depending on the placement offer price which I personally think is 30c per share, if there is an underwriter SHs could expect SP recover slowly.
Copper price is the King atm, if till remains above $3/lb not that bad for DML.
The real problem with DML atm is :
"still working through oxide and transitional material while the most of the mineralisation is sulphide. "
I noticed DML already announced they have reached the sulphide ore in April, maybe that's why the board start to expect Positive cash flow in June 1/4.
Anyway, as a top 10 Africa copper mining projects, 200-300Mt resource in place, I believe DML will be always a takeover target.
Hopefully the short-term pain can be ended by the sulphide ore soon. DML could be worth much more than 80c per share(after dilution ) as long as the operation cost is less than $2/lb.
Current SP also creates an fantastic opportunity for CFC to acquire DML at 1/3-1/2 cost of its initial offer/ ie 58c--85c, if they can lunch a on market takeover offer ASAP.
99% of the SHs could sell their shares at this price range if there is a scary 25c placement offer.
DML Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held
