The way I see it, payment of annual environmental levies sees the bond gradually reduced.
I believe issues with previous management tussles for the company's direction to advance Plutonic on their own rather than JV it out to ORD are now sorted and behind us. I don't think money would have being an issue should DAU had solely advanced it on their own from the holders/backers whom succeeded in the EGM for management change.
I personally believe the JV to ORD isn't too bad an idea, it de-risks the project with minimum outlay to DAU. Likewise If ORD succeed then it's a minimum 25% interest with little outlay to DAU. Looking at the preliminary feasibility numbers released by ORD, a 25% interest would put DAU on a PE of 1 or less.
Comparing this years 2014 annual shareholders list to last years sees the top 20 accounting and increasing to around 63% compared to 56%, with a new entry holder, Piat Corp Pty Ltd that a Google search shows them with substantial top 20 investments in numerous ASX listed companies.
DAU is a clean tightly held listed cash box trading below fair value and judging by today volumes doesn't have many shares on offer which equals, if you want it, you'll need to pay!
Good luck to all holders and hopefully this would balance up for my other speculative investments in the red!
VAN Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
DAU Price at posting:
2.6¢ Sentiment: None Disclosure: Held
