Hi BobbyKennedy and all other friendly shareholders.
I remember few years ago, when I was just beginning to buy shares on the share market, a post by a member called Tibbs. I can't quote his exact words but it went along the lines of when you buy on a rising share price, the more profits you make as the share price continues to rise. I am not suggesting that the share price will go up in a straight line from here because that rarely happens unless there is a huge financial development or Takeover offer. I topped up at 48c when STB transitioned to DNK and had a spike back in June 2015. That was the highest price that I have ever paid for DNK. I have continued to buy between 25c and 41.5c since. I haven't sold a single share because I feel that in the long term, each share purchased will generate great wealth. I will sell a few to refund my investment outlay when the price is right and let the rest ride like in 2011. It has been a long road with more road ahead of us, perhaps containing more twists & turns (and the odd knucklehead who tries to destroy our belief and cost us wealth by persuading holders to sell at low prices with his/her baseless comments).
DNK is now trading totally differently to what it was a year ago. We are losing the weak traders, holders are growing in confidence, and the large overhang has now disappeared! The big Capper SPROTT has been removed from the register and we now have the backing of well renowned institutional investor JP Morgan, Well Efficient, Kam Lung Investment and Montezuma Mining Co. We have very strong, intelligent & experienced management led by Paul Donaldson (Ex BHP) and Seamus Cornelius who have built a very strong foundation involving the a very good relationship with the Eritrean Government through CMSC & ENAMCO and work milestones including:
Definitive Feasibility study demonstrating outstanding project economics & long mine life
Memorandums of Understanding (MoU) by multi-national parties who have signed nonbinding off-take MoU’s for SOP to buy 2 times the potash that can be produced in the first year of production!
Ministry Approval of Social and Environmental Impact Assessment
Fluor appointed as Front End Engineering Design and optimisation lead for Colluli project
Strong cash position of A$10m+
Mining agreements & Mining license approvals progressing positively and well advanced towards completion.
Director's have been buying shares on market for years & recently converting options - Some tipping in $100K each into DNK!
Colluli is a World Class Resource has a JORC-2012 compliant resource of 1.289 billion tonnes - a 200 year Mine life. Even the crap Rock Salt mined will make money!
A POSITIVELY UNIQUE RESOURCE
Most favorable combination of potassium bearing salts suitable for production of SOP, SOP-M and MOP. The Colluli definitive feasibility study demonstrated a large, long life, world class potash project with significant upside potential. Close to key markets and established Port of Massawa. Colluli has unrivalled access to global markets and is in close proximity to established infrastructure.
Simple Cheap open cut mine of a shallow resource.
Colluli is one of the most advanced greenfield sulphate of potash (SOP) developments in the world and demonstrates outstanding economics including industry leading capital intensity, bottom quartile operating costs, close proximity to coast and key markets and unrivalled product diversification potential. Colluli is an advanced stage project and is the most fundable, scalable, long life, low operating cost SOP project. Colluli has standout economics relative to peers.
In the 2015 Annual report, DNK Chairman Seamus Cornelius wrote
"Owning a piece of Colluli today is like owning a piece of the very best part of the Pilbara 50 years ago. It may even be better than that because people need to eat and more people means more food is needed. Eating isn’t discretionary, or at least it isn’t discretionary for long, whereas you can always decide to delay steel consumption. I know this is a very big call but I look forward to being proven right."
This company has in the past and I believe will in the future 'Stun the market' again. Just, hang in there & don't lose that belief & energy and we will all be rewarded handsomely!
GLTAH
Regards WC
DNK Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
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