DM1 investor risks, page-35

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The low grade of its REEs mean that strong leachability is critical.
But to date DM1 has not produced meaningful leachability test results for its REEs.
The chosen Method ME-MS41W is a 1:1 ratio of nitric and hydrochloric acids, both powerful acids. There is nothing weak about it. The reference to 'weak' is entirely relative ie compared with Method ME-MS41L™ a mixture of nitric and hydrochloric acids in a 1:3 ratio. Both are used for trace detection. They identify the particular rare each elements in the lab. These days their use in actual mining and processing is limited due to the high level of toxic waste they produce and the environmental damage. Imagine how green groups and indigenous owners would react to powerful acids being used to leach RREs? Regulators would not allow it.
DM1 has not shown that its nickel is sulphide.
Given the shallow depth of the nickel it is likely to be laterite rather than sulphide imo.
Nickel sulphide deposits are typically found deep underground, in comparison to laterite deposits, which are found near the surface.
The low grade nickel resource is completely worthless if it is a laterite even if higher grades are found in the next drilling campaign,
DM1 could and should have tested it's REEs and Nickel 6 months ago as an important step to derisking the project.
These are cheap tests, $400 for the REE leachability test, $1,000 for the nickel analysis.
While all results are called outstanding by the company this is not correct.
So far the results are low grade and non commercial and they cannot be outstanding without the proper metallurgic testing.
May investors could be confused by DM1 and some posters here referring to PPBs rather than percentage
1 Parts per billion [ppb] = 0.000 000 1 Percent [%]
Investors need to be wary of the Polymetal advantage theory being spruiked on this thread. Nickel, PGE's and REEs cannot be processed together. This means that the comparison with Julimar polymetal processing which is based on Nickel, Copper and PGEs does not hold up. Processing costs for DM1'S low grade nickel, PGEs and REEs will be very high and a Capex of $1B would not surprise. The grades are far too low to off take.
Defining a resource is a goal of the company but I doubt this unless higher grades are found. With an obviously uncommercial deposit why would you define a resource?
IMO DM1 will not deliver on its commitment to defining a resource. This appears to be just more of the pretence that they have found a commercial discovery.
Investors should be wary of posts that compare drill result grades with JORC resources grades. This is complexly invalid.
IMO the investment value in DM1 is not what they have found but what they might find.
DM1 is prospecting on ground that is prospective for REEs, PGEs and Nickel. Should they produce high grades in any of these the market valuation will dramatically increase. But the company is high risk and presents far more risk than its announcements suggest,
Anns from the company should be treated with caution imo.


My Opinion DYOR