prasadg007 - I will be as happy as any other DML investor if the...

prasadg007 - I will be as happy as any other DML investor if the massive price drop is indeed solely due to market manipulation.

I am worried about the cash costs and the ability of the Company to service the $170m debt though. Going by this quarterly showing a cash bleed of $19m from operations, the cash costs have not improved. If the cost of getting the copper out of the ground doesn't fall very quickly closer to $2 than $4 - that is a very big change to the fundamentals of the company.

As for the company being cashflow positive for the June quarter, we were forecast to have cash costs around $1.90/lb for the 6 months January - June 2013. The last 3 months have completely blown that out of the water, so please excuse me if I am becoming dubious about the forecasts.

The Feasibility Study forecast the ability to repay debt in 2 years using mining proceeds - not carrying debt indefinitely via a bond issue. Mining investment is risky and cyclical enough without a change in the goalposts about how much and how long the company will have debt for. That is also a change to the fundamentals of DML

Regarding manipulation/BOTS and downramping etc - this is possibly part of the problem, but if there wasn't so much uncertainty about cash costs and debt servicing there would be far too many buyers for them to be effective.

I am not trying to downramp - just a concerned investor

Time will tell