Apologies plough. I meant no offence and will remove that part.
As for your posting abilities, the harshest critic is always oneself.
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Stubby, while I agree that gold stocks are unpopular, DRM will not go under. The merger will basically cost DRM $3 million. Yes, there will be dilution, but that does not cause a company to go under.
I still think DRM should simply walk away, then offer a lower hostile script offer. MYG will not get any other offer so... MYG will owe DRM $3 million anyway. So not only do they not have any cash left, they are in debt too.
DRMs hedge will more than protect them for the next 7-8 months, plus gold in AU is holding up fairly well. DRM also has approx $18 million in cash and bullion, yes they have debt, but not much, and its not due for years. I am being totally selfish, but DRM need to play hard. MYGs project is a decent one, especially if it ever gets more drilling, but that won't happen under current MYG management... no money.
Lastly, if gold does go to U.S $1000, so be it, that will not affect DRM overly, especially if it is simply a sharp correction before a move back up. DRM has an E/V of approx $48 million. Not too bad even if they simply stop all exploration and just produce from what they have. 3-4 years is more than enough to build up a cash pile to then actually build MYGs project. Or... if things get really bad, use up the mines reserves, then move the whole plant. Capex solved, whilst ensuring the company survives.
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