Good to see C that you are diversifying a bit. I just find that there is less and less value in the micro cap miners these days. Most of the good ones were good value a couple of years back when no body was talking commodities. I don't hold DKN but think that they are a good stock with not too demanding fundamentals.
Just a quick comment/question re: IGO. When they listed the point was to get some initial cashflow to go about drilling the extensive gold/nickel prospects they had. Buying Long was a great move, they got it for a bargain and it has proved a great little earner.
However, IGO had to use that cashflow to seek growth opportunities through acqusition or exploration. While some progress was made on the exploration front around Long suring up reserves, little ground was made on their other tenements - not even indications of something bigger.
They then went out and bought a stake in MRX spending $11m. (I believe). While it might be still too early, the market has voted what it thinks about this acqusition. Thee SP is rooted. IGO is having problems in growing and this is the reason the share price is stuck. IGO needs growth options and the MRX purchase raises too many questions than gives answers.
No matter how good the production numbers are from Long are the market is not going to re-rate this excellent co. IMO until it sees longer production potential, whether nickel/copper or whatever.
Unfortunately, I am seeing better value elsewhere and am considering selling my stake which I do hold at a nice profit.
Lust wanted to hear your opinions. Cheers J.
DKN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
