Amazing that ,in the good old days, the SP used to fluctuate more than 5c in a day - now we hang onto the last 5c for dear life....
We are all deeply underwater with this one - after averaging down a few times, my average price is still 47c :-(( (and I am sure I am not alone)
As I see things, there are 2 major problems - high cash costs and debt.
Once we solve the high cash costs, then the debt is easily solved (new capital raising/paid off with profits).
If I was CEO, I would forget about all this takeover/due diligence nonsense and concentrate ALL efforts into coming up with a solution to mine cheaper - keeping my shareholders informed on a daily basis.
That way, confidence in the company will be built up again so that when we are making a profit (or breaking even) it would be very easy to do a capital raising and pay off the debt in one go.
It there is no way to reduce the mining cost, then use what ever capital we have left to mothball the whole project until the copper price increases - which it will, sooner or later.
DML Price at posting:
4.9¢ Sentiment: Hold Disclosure: Held
