DKM 0.00% 12.5¢ duketon mining limited

I came to DKM several years ago as it scored well on the QAV /...

  1. 49 Posts.
    I came to DKM several years ago as it scored well on the QAV / Value approach but I do not have a background in mining or engineering. As much as I like the management, they write a jargon heavy report for those not in the industry. I will spend the weekend googling the various terms to work out whether this is generally good or generally bad.

    Would I be correct in saying the report generally says the following

    Tate
    - There might be some good stuff there as the surrounding dirt has good stuff in it. BHP left a single big hole there that looks interesting. Despite some chemical testing showing nothing good, that may not be right so we are going to get the big drill out and give it a go.
    Duketon - still drilling here and there.
    Duketon North - some weird things have been found (anomalies). Maybe they are good, maybe not. We got some permits to keep on digging and checking it all out.
    Corporate - heaps of cash and we are spending it pretty sparingly. Regarding Rosie and C2, we might crush the dirt there and pull some good stuff out, or maybe just chuck it in trucks and send it somewhere else. We've still got $16.2m from the sale of the gold rights to ASX:RRL a couple of years ago. We are paying the directors / officers reasonably but otherwise are keeping the money in the bank to pay for more digging.
    Rosie - There is some good stuff there, and high enough percentages of really good stuff to think about digging it up. When we price these things we used prices from ages ago, and they have gone up a bit since then, so that is pretty good. However the potential to pull this stuff out and sell it only has "reasonable potential" so we aren't pumping this at all, just being generally cautious.
    Regional exploration - we spend lots of time driving around looking at other spots to buy up to dig in because there could be some good stuff there.
    Diagrams - god knows what the colorful pictures show. Aliens?

    Overall, we've been really busy turning over rocks to see what is there. We did well to sell the rights to RRL to keep us in cash to spend on digging. We've got a couple of sites that we are reasonably confident will go ahead We are also looking at some other sites, one with big hole in it that looks a bit on the fun side. Otherwise, just let us get on with digging and we'll speak to you in 3 months.

    This sound about right?

 
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