On behalf of the DRX I would like to extend a warm welcome to...

On behalf of the DRX I would like to extend a warm welcome to Chawkey who has joined the company since the capital raising. (Clap, applause, tongue in cheek). This gives us good reason to review the merits of the company.

Although it does have other projects, basically I see DRX as a play in mineral sands.

As a mineral sands explorer 'the company has already announced a JORC resources for the Cyclone deposit of 123 million tonnes, grading 2.3 per cent heavy minerals for 998,000 tonnes of zircon.
Contract for zircon supply in the second quarter of this year are $1,500 to $1,650/t compared with $1,200/t for the first quarter and $1,000/t for Q4 of 2010.'
(Etrade 15/4/2011). I can post more of this report if posters desire.

As PlumMouse stated there is an incredible construction boom occurring in China. He/she has had the advantage of experiencing it first hand and stated, 'I am happy to sit back and watch the DRX story and will consider other Australian companies who are or will provide commodities to China.' I read into this that the driver for PlumMouse is commodities, in this case zircon.

The construction boom. How big is it? From my reading, the migration from country China to urban China is the greatest migration in the history of mankind. Obviously a migration of this kind creates demand. Zircon is used in the production of ceramic tiles, among other things. One result of the migration is that China is laying an amazing 2.8 billion square metres of ceramic tiles on an annual basis. If my maths is correct, and often I find it is not, that is an area measuring 53 km by 53 km each year. And then comes the toilet pedestals. Do they use toilet pedestals in China, PlumMouse? I hope so. But the point is obvious. And not surprisingly China's supplies of zircon are diminishing.

One last point for the night PlumMouse stated '... I consider that when the MOU (with Baoti) is signed ...' There is no evidence to support the statement that the agreement will be signed. I realised that PlumMouse was only stating his strong feeling that it will be signed and it is an opinion that I hold myself. However please be aware that it is several weeks until it is signed, if it is signed. And as Chawkey said the catalyst will be the signing of this MOU.

Cheers

Do we have enough yet for a Conga?