I am very concerned about the future for DML - this quarterly is...

I am very concerned about the future for DML - this quarterly is a shocker

Management tended to under promise and over deliver in the years of exploration and while the plant was being built.

Since mining started management have begun to over promise and under deliver.

Original Feasibility Study had debt repayment period of 2 years and expansion and coal power plant funded by mining cashflow - that ain't going to happen in the next couple of years at the current rate of "improvements"

Cash costs were forecast in one of the last takeover target statements to be around $1.90 for the 6 months to June 2013 - judging by this quarterly, if they get the cash costs down below $3 for the 6 months to June 2013 it will be a surprise

Exploration over the past few months seems to have stopped

Management used some pretty strong words to convince shareholders that the takeover offer of $1.70 undervalued the Company. At the time I based my decision on managements previous performance.

Management have some serious explaining to do if they undertake a severely dilutionary cap raising at 30-40c, 3 months after telling everyone that $1.70 a share under valued the company