So what to do now? Be patient. Remember this is non binding - so it means next to nothing really I believe with the combination of quality Company management, a producing mine and highly prospective tenements, there are 2 possible outcomes here. 1) Directors do not recommend the takeover and eventually Cathay increase their bid, or other suitors come out of the woodwork; or 2) Directors do not recommend the takeover, Cathay goes away for now, and further drilling discoveries and mine capacity increases result in a higher Company valuation.
Either way - DML is worth more than $1.70 a share
At this stage, without further good drilling results I would suggest $2.20-2.50 is a starting point only
DML Price at posting:
$1.46 Sentiment: LT Buy Disclosure: Held
