I agree Kimberly is the one that we should have our eyes set on. As Dean Tuck said, they have their cricket and football seasons with their tenements and work all year around.
What I like is that management is heavily involved, 1m plus investment, and participating in their own CR, 84% of funds used to drill and find targets to prove up resources. That's really sound management, and we cannot put a price on that. From what I've seen I believe investors money is safe with Dean et al. There's still significant cash in the bank, and Deans presentation at RIU last year he stated that they run a tight ship and only use funds when required with their long term goal in generating results and providing returns to shareholders. The remaining cash should be enough to generate a lot more results given ~84% of funds are used to fund drilling. An SP increase of ~550% since inception is a testament to his management and ability.
In addition, you can't strike good intercepts all the time, out of 17 previous results, 15 were significant intercepts. It's a pretty good track record, and with how DRE and team work I see continued news flow and proving of resources.
When you invest in a junior explorer, you invest more in the management and team behind it in addition to the potential of the resource, although potential means nothing without a strong team that is willing to prove it and quick with constant and consistent news flow. DRE? It delivers. Today presented a buying opportunity in my view, a 20% discount and 40Mcap with a lot of potential still present, an exciting project in Kimberly with mineralization outcrops on the surface that is virtually untouched since 1958 due to legislation that has only opened up since 2013? Even Dean sounded excited citing his vast experience in Myanmar and other various high mineralization locations, so this speaks volumes to the potential of the Kimberly project. Not to mention, Menszke cannot be written off as they have now narrowed down targets with their new findings, as these assays are pieces to the puzzle.
I expect some future results prior to a CR, and even if a CR were to occur I'm confident with managements track record that they will be participating in kind. In our MDs own words, not like for like, "If we ask you to put money in from your pockets, we will put up money from our own pockets", with goals to "prove up a large resource to make returns for shareholders and ourselves" shows a shared interest rather than the milking of management fees all to common in these junior explorers. DRE is the real deal.
My only thought is - is anyone aware of other new flow that we are to expect in the near term that isn't listed on this announcement? From a few comments it seems as though I may be missing a lot of assay results that are pending.
(20min delay)