what's going on at dart?

A year ago 'the information surrounding Dart was positive ..... They released their metallurgy earlier than most companies do, a very positive sign. Most of Dart's predictions relating to geology and the magnitude of the deposit were confirmed in later announcements. Only one single drill hole had tested the porphyry at depth and results indicated that it was consistent with Climax-stle mineralisation model. Dart was favourably compared with Endako which equated to a share price that I'll not post on here for fear of ridicule, given where the SP is at the moment. All this was yesterday.

It's my perception that the old board got caught up in the hype of the Henderson comparison and drilled deep when they could have gone to say 450 and spent the money at the depth that could have had Dart testing more areas at a shallower depth, a depth that gave Dart the 20 year mine life, and could have had them in production around the targetted date. It's obvious that the deposit is on a tilt and they drilled through the deposit into the breccia.

Then the board abandoned ship.

I think the project is now back on track, but we've lost a year.

I do have some concerns. When the anns came out last year the news was outstanding, but the SP remained stagnant and even dropped. Why? Was it only because of the depressed price of moly? Was it because the market in general wanted more certainty? I don't know but when a stock goes down despite continual good news that's a worry.

The recent SP drop is to be expected given that the uncertainty, brought about by the metallurgy issue puts the second tranche from Red Kite in some sort of jeopardy. Against this the board have announced they're committed to spend $9.9mil, a great portion going into drilling Unicorn. This is what we want to hear but where re they going to get the $9.9mil? Strange days indeed. I believe we have a committed group running Dart ATM.

My other concern is that the previous board were running the show when I believe they made a terrible error of judgement, and usually if things go pear shaped it's not just one issue! So I would not be surprised if the metallurgy issue also remains unresolved for one reason or another. If that turns out to be the case say goodnight Gracie!

So, we have the project back on track, and all those good reports are still valid. If you care to read back at some of the old announcements there are a couple of mind blowing targets that need to be investigated, including Mt Morgan.

The metallurgy issue is apparently common to moly projects, and the current board believe it can be successfully addressed. Hope so!

Drill lots and drill shallow lads, and lets get things rolling again!