The current SP is certainly not overvalued for a producer which...

The current SP is certainly not overvalued for a producer which has a near term outlook of 100,000 per annum for 5 years.

What is the unknown is just how valuable the Deflector tenement is, so far the drill has turned up good results. And Deflector is a Copper - Gold mine. Copper's price is fluctuating but copper is needed for the electric car battery and Doray provides exposure to any upside down the track assuming DRM is producing copper over the next 5 years.

The DRM story starts to gain traction as we get regular assay results this financial year. If they're good or spectacular (gold or copper/gold) then what could another 2 years deliver, management stated 3 years of drilling. SP $1 seems more than doable depending on the hits and the gold price.

There wasn't a substantial shareholder notice after the last big trades went through which indicates it was probably movement between entities. Institutional shareholders own 37% and with the current exploration underway are unlikely to sell out anytime soon.