Hi @meric I posted a back of the envelope valuation last year in...

Hi @meric

I posted a back of the envelope valuation last year in July and recommended DRM at 18cents for the glass half full investor here.

https://hotcopper.com.au/threads/ann-change-in-substantial-holding.3538662/page-20?post_id=25833306

I never bought as I'm not glass half full when it comes to risk. The speculators and jawboning have driven it up in my opinion and when it broke 30cents I stepped in last Friday with my net debt charts to try and give these threads some perspective.

https://hotcopper.com.au/threads/ann-investor-presentation.4002079/page-43?post_id=31122355

I'd promised to stay away and I did but that market valuation was just getting to high for me to stand back and supress my commentary. Lo and behold 4 days later the company went into a halt to raise money to get the bankers off their backs. Now they are in bed with the brokers. If BDR is anything to go by the brokers will run the price up if they can and churn some profits but I also remember how the TRY raising at about 30cents got little support from the people who stumped up the money (I'm always shocked when this happens). Take RSG's raising at $1.90 as well as an example, the price has been crushed down to as low as 95cents since because the market is in patient. The sentiment and gold price in the next few weeks will be crucial to how the DRM share price will travel IMO. Ultimately I'm not a believer in the story and I think Da Vinci will make little difference (it's no more than a short term high grading exercise) so if the price rises another few pips I still think this has more or less peaked or is heading lower in the long term unless they can reinvent themselves and find another mine or develop their other resources. Esh