Hi allJust had a chance to read the Q rep and have to say that...

Hi all

Just had a chance to read the Q rep and have to say that at face value it looks reasonable. I talked to Rhod Grivas last week (and David Mc a while ago) and he did mention some of the headwinds mention in the report. One of the problems cited was takeover of the South Kal assets from Harmony Gold which presented some integration problems, however, these were being worked through and they were eventually getting on top of things.

Overall I think the Q rep looks positive for the future given the reserves and stockpiling that is going on coupled with the drilling program and cash in hand all bodes well for the future. They don't need to go cap in hand to the market which is a big plus and will be able to grow organically.

If gold continues to increase in price and the the next Q rep is more positive then I believe that DIO will enjoy a sharp re-rating. I don't think these are necessarily big ifs and think that the current price is an opportunity to buy.

I'm not making any forcasts where the price might get to but it has to be higher than the current trading.

Cheers
BW