Peter Kopetz - Research Analyst, State One Stockbroking
Diatreme Resources (DRX) DRX?s jewel in the crown is Cyclone, its world class zircon deposit in the Eucla Basin. Mineral sands prices and especially the valuable zircon have been appreciating at a rapid pace due to the demand/supply imbalances, thus providing development impetus to Cyclone which is in the midst of a prefeasibility study. Further interest has been shown by BaoTi, a Chinese mineral sands conglomerate who is looking to join forces with DRX and potentially fund the development. Being of a world scale, it?s a matter of when not if Cyclone will be developed, especially since zircon outlook looking very strong.
DRX Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
