what is dml s true value per share , page-6

gents,

its a bit yes and no with their current situation.

Yes they have been unable to meet their debt repayments.That does place them in default of their original obligations.
Their lenders have been awaiting a resolution.
The lenders other option is to call in the debt,collapse the operations and cease business.

Sensibly that makes it all worth a lot less than whatever its true value is.

Far better to let those who know the operations keep it running.Hence their accommodating stance,they are well aware of what was offered some time ago for the company shares.

Since then resource figures and grade have reduced and operations have not risen significantly in a positive manner,or have they?

Chibrown,unfortunately there is not $20m in the bank.If you read the announcements of late they have been giving you dated figures to follow that cash down to around $14 and they have just under $20m to pay on the 15th.

I imagine that would allow 14 days for the remainder of Decembers production to be credited and DECEMBER accounts to be done.

The lenders will then see how much more accommodating they will be without a guaranteed $2m hedge income monthly.

Value?-business could be here 31st Jan,might not be.
However,i did buy at above current market value on the basis there is value in this operation and run efficiently,costs as i see them could be considerably lower.Those moves appear to be being done.

Too little too late---15th deadline approaches.

If they are still operating after this date then i can only see upside and that will be soley because they are generating CASH.

That would change the value of everything considerably,including what a trade sale would get and what the market values this company at.

e.g. if they could drop 5mw of hired generators and the diesel they consume --- could be exceedingly interesting

DYOR+DYODD