Just comparing the Equinox Minerals take-over price compared to DML (once it is in production). DML will make about one-third of EQN's copper concentrate, but is some-what comparable, both African Cu companies just beginning to go into production.
Haven't taken into account: Tax, debt, mine life, cost of electricity etc. This is a very rough comparison only! You're welcome to improve it.
EQN ~~~ Production: 140,000 t/y Cu Price (March 2011): 4.00 Market Cap (take-over): C$7.32B
DML ~~~ Production: 34,400 t/y Cu Price (May 2012): 3.70
So, using EQN as a guide, DML is worth (with a take-over premium):
Market Cap: 1.66B Share price: $3.75
**this is not advice**
DML Price at posting:
$1.46 Sentiment: None Disclosure: Held