Jenx the company has more lives than a cat because they are a viable option. Look at the huge changes they made in production through last year. They finally got rid of the wasted staff and processes and started moving into good production numbers.
The underground will work and CC knows that as do CP. The hold up is the roughly 39mill odd that it will cost to go down and the current debt. The original cost was a lot higher but it came down with plans to develop on ore and in a more cost effective way. If you look at this the Zeta Pit is in really nice ore which continues down dip and is still open past 700m vertical depth. Then there are other undergrounds in the pipeline. ie Zeta NE - 7km from Zeta, Mango NE 1 and 2 and on top of these there are two other resources, not to mention the prospectivity of the Exploration ground they hold, which is without a doubt the best of the Kalahari. Remembering of course that it stretches all the way to Aphrodite some 250km to the south west. Those are very nice results in a new style of mineralisation.
Remember there was 90mT of copper plus silver added to the inventory in less than 12 months in the Boseto surrounds. This continuation of new resources was only stopped due to the need to focus on production and not on Exploration. That is what CP and other investors are seeing including CC. Don't underestimate the value of the company ground.
DML is a little Aussie battler dealing with a first play in Africa - that is a challenge in itself and up against first Cathy who employed a heap of nasty tactics to try and get the price of the shares down enough to make a substantial saving and now ex Phelps Dodge and Barclays directors in CC.
If this hurdle can be surmounted then there is a bright future for the company, particularly if the copper price rises as predicted over the next couple of years. If it cant a lot of people will get hurt but it won't be due to the lack of trying on the part of DML board and management.
DML Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
