Yes. But...In early 2007 Nick Mather publicly stated that DGR...

Yes. But...

In early 2007 Nick Mather publicly stated that DGR were not miners but were in the business of "making companies". They failed to address lead-times related to equipment (I pointed out around this time last year that the lease market on crushers was out to 18 months, and the new equipment market even longer - ref Thyssen Krupp's order book). Anduramba is a prime example - excellent resources, but an inability of the company to address the basics of converting JORC's into market prices.

That said, DGR's structure is now such that it can only go forward - enough of silly "company making" and now the time has come to put firm plans in place to get the stuff out of the ground and "on to the shelf".

As long-time holders would know, I stopped out of DGR around the 30 cent mark, after initially entering from 11 through to 19. A good profit at the time, but I, like many, lost faith when the spin became too much to bear.

Now, however, I do consider D'Aguilar extremely undervalued - a 5 cents (or thereabouts) it is around 50% of book value, even allowing for the lack of action. Completed value is, as those with calculators know, well in excess of $1 - so the current price reflects lack of confidence in management more than anything else.

But at 5 cents - imo its well worth a medium-term buy. Certainly one I will be buying and holding as I can envisage a price of mid-teens within six months (once the dust settles).

Best regards to all holders.

Kit