My most recent research on DOM indicates that the market does'nt seem to have recognized the importance of the Company being able to extend the M1 shoot at Challenger to give a further 2 years min. mine life and so support ongoing exploration generally and in particular the highly prospective greenfield areas of WA without the need to erode cash reserves or go to the markets.
Production from the Challenger pit since commissioning in Oct 02 has supported an exploration spend of approx. $900 000 per quarter ie. more than $6m in total, while maintaining group cash & bullion on hand at around $8m and repaying project debt at the same time.
Thus the Company will remain in a comfortable financial position as they apparently switch the exploration focus away from the Gawler area to WA where exploration plays have developed that must have the Geos licking their lips in anticipation.
If everthing falls into place at Magenta or any of the numerous other prospects in this extensive area of held tenements then the future for the Coy would be assured.
Cheers ..... WJ
please do independent research and/or seek pro advice.
DOM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
