some info on dml, page-3

Forgive me for being sceptical but - in January 2013 the final target statement issued by DML projected cash costs for the 6 months to June 2013 would be $1.90 - $2.00. They are nowhere near that. Cash costs for the 3 months to March were $3.89.

In the update for March or April 2013 the Company stated everything would be running as designed by June 2013. Now it's "probably" July.

Management built up some serious credibilty in the 5-6 years until January 2013. They have succeeded in destroying that in the space of only a few months.

I made the (mistaken) choice to follow management advice and reject the takeover offer of $1.70 based on managements credibility at that time.

The current price of 18c heavily points to a cap raising of some form rather than a takeover. If there are no bids, it's because the due diligence period has shown potential suitors that cash costs are going to remain uneconomically high - and the share price low, or in the worst case - worthless.