DMN 0.00% 0.1¢ datamotion asia pacific limited

reposting from oro

  1. 287 Posts.
    I do not like what happened with the Mt Barrett fiasco. ORO placed all costs for the venture in the hands of DMN, a company which is not a mining specialist, and which was in the doldrums last May trading at 0.001 cents. A document, GEOPHYSICAL COMPARISON OF MT BARRET AND MT WELD by independent consultants Southern Geoscience Consultants Pty. Ltd. is at http://www.datamotion.asia/ (This site has not been brought up to date since the news of not finding a Mt Weld type REE)
    While SH are focussing in the debacle that took place on Tuesday 14 June 2011, when there was a surge in sales of DMN just before the trading halt and news of not finding a Mt Weld type REE, no one has focussed on whether the document by SGC was a fair statement of the prospects of finding REE.
    I note Geogeorge on 31 March 2011 posted on HC http://www.hotcopper.com.au/post_single.asp?fid=1&tid=1423856&msgid=8071822 (pardon my mild edit of his typos):
    "Just wanted to say that I had a look at that geophysical report to the Mt Burnett 'Mt Weld Look-a-like'. Personally I don't think it has legs. I could probably point out a thousand other anomalies in that area of WA with similar looking geophysical responses. What's even more worrying is the fact the anomaly is right on the edge of what I would interpret as a buried granite. More likely than not the high response is some magnetite rich segregation along the margin of a granite."
    Later in the same thread Geogeorge also suggested:
    "To be honest mate it's doing a couple of 2d profile models doesn't take a lot skill. There aren't a lot of mines found based solely on geophysical anomalies. Instead of committing half a mil on a drill program you could do a comprehensive partial ionic leach geochem survey for $50,00 and find out if there is a target there in the first place."
    Maybe we should take a closer look at how this fiasco developed longer term: Could the SGC document have been tempered with more doubt? Why didn't ORO take a more cautious path to testing the Mr Barrett anomaly that did not place SH at risk of such losses?
 
watchlist Created with Sketch. Add DMN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.