Another solid result by the team at DMA for the quarter.Key take...

Another solid result by the team at DMA for the quarter.

Key take aways from my perspective
1. Ability to delineate 160 mt of final product post benefitiation at 57% fe.
2. Only 2% of their total tenements have been explored to date
3. As brm would say they are in a strategic position with most of the "4 L's" covered. Longevity tick, location tick, lithology half tick but progressing well and not unlike brm. Beneficiation results should improve from further work but are already sound and logistics not yet ticked.
4. The location is good, surrounded by majors and acquisitive juniors ( read ago) so if they can prove a resource they can get the stuff to port IMO. Even if only as mine gate sales.
5. Tight capital structure and a mkt cap of only $24m
6. Quality management team with proven ability to grow small businesses especially Ian levy.
7. "cheaper than dirt" characteristics of their ore make then insulated from the potential effects of the MRRT. IMO detrital type producers will get a premium rating at some point due to their insulation from these potential taxes.
8. Management needs to be focused on delivering " a project" not just exploring the whole country side so the spear hole bore needs to be the core focus of their efforts including the expansion of the strike length. The 4 L's are best capitalized on from one big location. We need to monitor this so we get focus on delivering cash-flow. The other tenements should play second fiddle. This has been key to brm's success IMO.

Whilst this is no brm IMHO it is a very sound stock for a specie with mega low market cap for the potential that they have. It is one for the patient willing to ride out the ups and downs of the market.

It is very similar to the brm story however and the market will take time to come around but it will. Rail access is an issue for all but with large scale deposits these changes will be more easily addressed than small high grade deposits. 160mt of dso is worth plenty more that $24m.