Ann: Doray Signs Deal to Divest Andy Well, page-17

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Davisite

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05/10/18

14:38

Post #: 36013667
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Originally posted by glendronach ↑

Originally posted by katy
FY19 I expect LJ to deliver forecasted production numbers if not better them. Qtly reports will be positive with increasing cashflow.
The drill program will be the highlight and renew excitement in DRM and with AW bedded down plus Gnaweeda JV, LJ / Management will be considering additional growth options.
DRM will not be a single mine operation for long, with an increasing stronger balance sheet it will either be a takeover target or the acquirer.
Eagerly awaiting the next drill assays (not far off).

Originally posted by Davisite
I hope you are overseas @plough as it is a bit early in the morning to be drinking clear.png

Yes AW was going to need $20 million spent on it to get it back into production, but if the POG takes off then good luck finding a mine with a plant ready and 500k oz of gold for $20 million.

If the POG shoot up to A$2000 then how much would it have add to DRM MC if they came out with a plan to reopen AW? $100 million, $150 million? To me the optionality of exposure to the POG taking off was worth the C&M cost of hanging onto AW. Basically this is what Galane has bought - a very cheap option to restart AW if the POG takes off for the price of the C&M.

Anyway it is all history now.
POG aint goin up 20% mate. Not in my lifetime. Better spending an extra $4m drilling the sheet out of Def - Plough on the money - get rid of env liabs hey Plough how many you had now ? Time to play some LC methinks - nearly 2 years since he died. Time flies.

Expand

It certainly might if inflation takes off in the USA or the A$ falls much more. The gold price is very close to A$1700 and it would not take much to push it to A$2000.

Anyway it doesn't matter as it is Galane's problem now.

DRM Price at posting: 35.0¢ Sentiment: Buy Disclosure: Held
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Ann: Doray Signs Deal to Divest Andy Well, page-17

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