I'm not sure you are looking at this the right way Saracenm.
DRR spends circa $8m a year on general & adminstrative costs to run a company that should cost no more than $1m to run. On top of that, they have a new credit facility in case they find any investments, which is probably costing another $2m a year in line fees even when undrawn.
So it's costing shareholders $9m a year in excess costs for this team to search for new royalty investments.
If the CEO/Team had a trackrecord of being great royalty investors, then I would be more inclined to think this was a reasonable cost and eventually they'll find a suitable investment. However this is not the case and I suspect they'll feel pressure to find "any investment" as time goes on.
I really wish I was a fly on the wall in their office. Apart from sending one invoice a quarter to BHP, I have no idea what this team of 6 including a full time accountant and general counsel do every day......
I'm not sure you are looking at this the right way Saracenm.DRR...
Add DRR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$4.79 |
Change
0.010(0.21%) |
Mkt cap ! $2.532B | |||
| Open | High | Low | Value | Volume |
| $4.75 | $4.81 | $4.71 | $4.521M | 945.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 22584 | $4.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.80 | 14020 | 3 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$4.80 |
Change
0.010 ( 0.25 %) |
||||
| Open | High | Low | Volume | ||
| $4.75 | $4.81 | $4.72 | 367782 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| DRR (ASX) Chart |