Woodlawn.... May just be a money sucking pit .... It will be...

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readyaimfire

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19/09/23

12:38

Post #: 69915323
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Originally posted by w27 ↑

DVP is headed by Bill Beament who was the guiding light of New Start Resources which has seen a growth in share price of something like fifty times over the last twenty years. He is a legend in the mining industry and is recognised as the leading underground mining manager in Australia, if not the world. Not only is he able to provide outstanding management but has the capacity to attract the best people to join him and to raise capital with less difficulty than anyone in the industry. Bill Beament will have his phone call returned by anyone in the mining or finance industry. Unless you have toiled at the coal face of industry, you will not realise what an advantage this is for any manager.
DVP also has substantial cash income. It has Woodlawn mine which will be highly profitable and can be started with minimum new capital and is well within the capacity of DVP without further capital dilution. Woodlawn will finance the development of Pioneer Dome without further capital dilution. I have previously posted that the Scheme of arrangement is a better deal for DVP than ESS. However, it is the best deal available for ESS shareholders and is probably much better than anything likely to emerge if this deal is voted down, which is unlikely.

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Woodlawn.... May just be a money sucking pit .... It will be years before there is any positive cashflow even if they can get it back into production.

ESS Price at posting: 46.5¢ Sentiment: None Disclosure: Held
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0 Great analysis

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