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1.80%

54.5¢ doray minerals limited

Resistance at 38.5c, amy retrace back to 35c before the next...

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malay

7,365 Posts.

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24/07/18

11:38

Post #: 34534030
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Originally posted by goldbear77 ↑

thats just above the bollinger technical positioning. bollinger positive is at 38c

those technical positions shift as the curve shifts based on buying support - nothing to do with newsflow

to put it in perspective DRM is trading 3.5x EV/gross mine margin vs sbm on 8x, sar on 10.2x.

its on 3.1x if you take mgts 100koz numbers at face value

Its a single mine operator going to 100koz so it wont get their premiums - but if market feels confidence in the turnaround and wnats to position for that outcome there's no reason if cant get to say 4 -5x with no further newsflow barring quarterlies

50c would put it on 4.5x at its current 75koz run rate though need to allow for cash position to change with exploration cost

i suspect its all about confidence in mgt being on the up and up

my own view - for whatever it is worth - is that if EMR is worth an implied $180M market cap still having to build its $90m mine to produce 106kozpa with all the teething risks associated and with the crapshoot cambodian sovereign risk factor - DRM at $151m EV appears significantly undervalued

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Resistance at 38.5c, amy retrace back to 35c before the next move.

DRM Price at posting: 38.0¢ Sentiment: None Disclosure: Not Held
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