next steps, page-3

...Maybe. But to get the loan, they needed to hedge production. I have no experience in project financing, but I'd be surprised if the bankers cared too much about the share price. Incidentally, I had a look - tiger similarly had to hedge 33% production IOT secure it's loan. It doesn't need it, but 'just in case' should it runs into working capital trouble.

From what I've read on the wider commodity piece, the warehouses at the LME and Shanghai exchange are full. You may find the below interesting from ANZ research on 2 April.

The bellwether copper market is being held back by rising LME and Shanghai inventories, suggesting either demand has not warmed up yet or stocks are being switched from unwarranted (hidden) supply to warranted supply. We think it's a combination. Stocks are ample suggesting key Chinese importing activity will only be opportunistic to healthy positive arbitrages – a key trend to watch in April. The primary concentrate (cons) market is also diverging. Higher availability of copper cons should prompt greater supply of refined output in the short term, while tightening zinc and lead cons plays into lower refined supply (and higher prices) going forward.

Short term issues (next few months maybe). These are unique opportunities and DML has quality assets. It appears way oversold. My inner contrarian probably can't stay away another week.