your post Allgood is as uninformed as the other transient non-holders stopping by with their 2 cents to pooh pooh the party. DML at least is in productions now and whilst not great, there are solid signs that it has turned a corner. the company you mentioned are still a cash guzzling explorer who won't start production (hence cash flow) for quite some time forward. Not to mention the uncertainties in the transition like DML has suffered and now appear to overcome.
However you are right that Transamine bought in to protect their hold of DML's copper. By buying a controlling stake they are able to prevent companies like Montsant demanding 50% share of the offtake agreement.
lets also not forget that as POC and POS (soon Price of nickel as well) recovers DML has advantage over your suggested company. Plus plenty of upside with established infrastructures and huge tracts of unexplored tenements.
as with a lot of small cap capital raising, you take it as it comes. Its easy now to look back at the 50% discount and shareholders were shafted so forth. but Its says a lot for Transamine to drops in with $2.8 million (a 8% premium over VWAP, no less) while there were still so many uncertainties at the time when it was done.
Lets wait till the upcoming quarterly to see how the money was spent. I am banking that the $2.8 million goes towards settling sedgman's lawsuit and therefore another problem off our lists. Although if this is done an announcement would have been made (so keep waiting on that front).
The current management has done quite a substantial amount of work on very difficult circumstances and critiques to get us to where we are. Some tough decisions were made such as letting a whole bunch of people go, pay cuts, restructures, rework of the mines and etc. Weak managements like some would have let this go a while back, and not kept up the fight. Many of the big miners now were at one stage struggling during the ramp up phase, but its through pure hard yakka, that pulls them through and flourish.
I for one won't write this one off just yet.
DML Price at posting:
5.4¢ Sentiment: None Disclosure: Held
