Seems like Doray has been turning around thanks to the Deflector gold mine. This is an encouraging Annual Resources and Reserves Statement. Notwithstanding the resumption of the Andy Well mine operations, we can see that Doray has the potential to extract over 120koz p.a. but that has to wait till the Board is satisfied that the gold price is high enough for the Andy Well mine to be economical. I wonder though why with such high grades that the Andy Well mine can still be uneconomical. Hopefully they will sort it out in future.
The darkest days may be over for Doray.
DRM Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
