The perfect combination, page-25

Col one of the best things about DRM is their transparency (management). In their BFS they had all the qrty AISC costs mapped over the mine life. AISC will actually get worse over the next few quarters then when they mine their 2nd stage pit in Jan and process it in June qtr it will come back down. They outline this. They way they built their mine and brought it into production all on time and below budget says something. The fact they could borrow from a aussie bank also says something about the robust economics of the project and faith in management.

The big rise was the start production and hitting their milestones. CBA became a substantial holder around 90c (CBA employees super fund) they bought more recently too at ~50c. The fall I believe is to do with minelife slowing become a program and poor near mine exploration results (didn't find another Wilber lode).

They added some 8g/t Au dirt to their reserves (Judy South) but AISC won't be a good as previously one would think.

Also good to keep in mind DRM have other potential growth options. A JV with AYR and having recently purchased Gnaweeda Project.

I don'y currently hold a gold stock. Have held DRM a few times. If this merger goes ahead this is the stock I will be looking at.

Feel sorry for long time MYG holders, but I think there is a real case of value being realized in Deflector - finally. TJ is good (he was great with Avoco and Alacer) but with DRM I think you will be pleasantly surprised.