I know other DRX posters are probably all over this information...

I know other DRX posters are probably all over this information like a rash, but I thought it worth noting the following:
* valuation of Cyclone deposit $156m released Jan 2011.
* current market cap $35m undiluted
* post Apr 2011 CR enough cash for next 12 months
* BauTi due diligence completion expected May 2011 (Googled article from egoli website - refer below)

Next May/June 2011 should be very exciting.

egoli article dated 14 May 2011 follows:

CYCLONE ZIRCON PROJECT BAOTI GROUP LIMITED HIGHLIGHTS BaoTi Group Limited (BaoTi) have now completed a successful site visit to the Cyclone Deposit. BaoTi to complete due diligence in May 2011. Diatreme and BaoTi aim to finalize a binding Heads of Agreement by end of June 2011 (subject to successful due diligence). Project Agreement is aimed to be completed in December 2011, after Government approvals. Diatreme Resources Limited (Diatreme) is pleased to announce that following a successful visit to the Cyclone Heavy Mineral Project in late March by a delegation from China, representing BaoTi, the parties to the August 2010 Memorandum of Understanding have agreed on a timetable to further the interests of BaoTi toward project participation. The visit by BaoTi comprised A review of Diatremes heavy mineral exploration data A review of Cyclone Scoping Study updated data Site visits to The bulk testing facilities and laboratories of Mineral Technologies at Carrara, Queensland. Diatremes Ceduna depot to view procedures and data regimes within the Companys preprep laboratory facilities. The Cyclone Deposit to observe drilling and field procedures in action. A review of Australian rail and port infrastructure for future transport purposes. The visit successfully answered all questions and concerns that BaoTi expressed and validated Cyclone Deposit as a significant zircon resource on a world scale. In recent days, there has been a lot of media and broker interest and discussion on emerging shortages of zircon and high grade titanium products due to supply constraints. Shortages in zircon are predicted by industry analysts to extend for up to ten years, due to the fact that there are very few rich zircon deposits ready to come into production and new worldwide scale deposits are yet to be identified. Any new zircon rich deposits, once discovered, could take at least seven to ten years to be brought into production. Zircon prices have doubled in the last 18 months to US$1450 per tonne and industry analysts are already predicting a zircon price in excess of US$2000 per tonne by the end of this year. According to Goldman Sachs, zircon consumers in China have been forced to destock by sparse availability of material and are now operating on a handtomouth basis. Diatremes Cyclone Project sits in a very favourable position with its bounty of high grade zircon and high value titanium minerals. The deposit continues to shape up as a major zircon resource by world standards, with more potential heavy mineral targets in the area yet to be drilled. Field work at Cyclone was recommenced in late March following delays caused to the Diatremes plans by recent adverse wet weather and flooding events in the project area.