Thrilled about Great White.
Key asset in DIM are tenements surrounding M1M's Eloise Cu mine, itself exploring.
Jericho drilling to extend resource.
Breena Plains exploratory.
Altia is lead and unloved.
Extensive Cannington tenements - be nice to excite drill money out of S32.
Peake & Denison, Windsor and Pyramid are early stage, large in area.
Looking at the division of spoils in the Andromeda merger, I think all parties would be advantaged by allowing DIM an extra quarters opex, say $3-3.5m added to the $5m cash agreed to. This greyhound has many options before it and a JV track record. If they cant lever this extra funding into $10-12m of drilling over time, I'll eat my hat.
Yes, there is a cap raise coming. Put that on a base $3m stronger with an already-exciting slate of activity.
An extra $3m may gave DIM confidence to fund 30% of Jericho not revert to a 20% free carry. Better opportunities elsewhere? Go right ahead.
Ash
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