DRM 0.00% 33.0¢ demetallica limited

Ann: Preliminary Final Report, page-2

  1. 573 Posts.
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    Report confirms what we already know, the company has $30M in cash and debt of $20M = net cash of $10M (rounding the numbers)

    The significant piece of information is that the Andy Well project has interest and that the company has been approached by more than one party. It looks like it will be sold maybe not at a premium but at a reasonable price. News of a sale could come soon.

    The plan is to repay the debt this financial year either by using the proceeds from the sale or from production, either way DRM should have more than enough cash to aggressively pursue exploration.
 
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Currently unlisted public company.

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