Couldnt agree with you more. You can never pick the bottom, but my thought are and have been for some time that DOM wont remain at these levels for long. It is my understandng that management has been actively reviewing and pursuing a number of opportunities however nothing has fit their criteria to date.
I completely disagree with the fact that management was misguided/tardy to not have done a deal when the share price was stronger. Deals cant happen overnight. They take time to analyse, review and ultimately action.
On review you will find there are very few small/mid cap miners who have been hit hard by the market in 2008. DOM is not alone. HEG is a prime example, at current market cap DOM could acquire from their balance sheet. This wasnt the case when they were trading upwards of 45c. Ditto a number of small companies around. IMO this pullback has actually left DOM better placed to explore acquisition opportunities given their strong balance sheet.
I feel it could come sooner rather than later
DOM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
