In 2007 they had planned two stages of development.
Stage 1 was to truck 1 - 3 mt of ore to port and then use the profits from those sales to build it's own rail way which would lead to 17-20mt in stage 2.
GFC hit and BRM management realised that they wouldnt be able to get stage 1 off the ground due to lack of global funding, so they shelved it and started planning for stage 2.
My point is, DMA could mimic exactly what BRM had originally planned and get a few million tonnes trucked to port in order to get some profits through the door and then build rail for expansion.
1 million tonne of ore is a lot, current spot price is $177/tonne and because a lot of DMA's ore is all less then 30metres below the surface it will cost very little to get it dug up.
We HC posters could all buy some shovels and dig it up by hand! :)
Profit margin on $177/tonne spot price is very very high
DMA Price at posting:
23.0¢ Sentiment: None Disclosure: Held
