# DCX - DiscovEx Resources



## System (11 August 2010)

Syndicated Metals Limited (SMD) is a base and precious metals exploration company with projects in the Mount Isa region of Queensland and Western Australia.

http://www.syndicatedmetals.com.au


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## Jako (10 September 2010)

Anyone follow this one ??

Just been looking throu copper & gold stocks, & this one ticks some boxes as a spec. buy.

Tightly held 71m shares outstanding with only 7m options to directors, management & employees.

A little over $4m in the bank.

Fairly close to other mills, for a take off deal,

or

Go it alone with a Capital Raising at a higher shareprice, when they prove up their resource ( or should I say "IF" they prove up their resource ) to a level where they could be a going concern.

anyway I'm still doing my own research, & so should you

cheers


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## STRAT (13 October 2010)

Hi Jako. 
Its on my watch list. Shares directors with EKM which is also worth a good look over.


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## djones (22 April 2011)

Encourage everyone to have a look into SMD, with over 3,700sq km of leases in the Mt Isa area covering two very prospective faults (The Barbara Fault and the main Mt Remarkable Fault). They have been hitting some very good copper grades and with AOH price skyrocketing this is the 'smaller brother' with a very low market cap and plenty of potential/little downside.

Currently drilling, if you are bullish copper definitely take a look into SMD.

http://www.syndicatedmetals.com.au/reports/SyndicatedMetals-Intersuisse-2011March30.pdf


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## joea (15 May 2011)

Update!
SMD will be hosting a site visit by brokers and fund managers from 16 - 18 May.
Intersuisse will attend.
Indicative value 26 cents, current price 17cents.

Currently drilling to increase its JORC resources of 78kt to at least 100kt and possibly 
150kt.
Cheers


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## Crom (15 May 2011)

I first read about this company in mining monthly Jan 2011, and bought immediately through my super fund as I don't have to worry about timing and interest charges.  In other words, I feel this stock is a longer proposition.

Re management, the article stated that despite their very low profile and share profile, that this company will not disappear despite the efforts of management, as they have a great story to tell.

Huge copper resource, plus useful volumes of molybdenum and an even more exotic mineral - rhenium.

While I am dissapointed with the recent SP falls, I aim to buy more.

Thanks JOea for the info on the site tours this week.

All the best

CROM


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## djones (6 June 2011)

joea said:


> Update!
> SMD will be hosting a site visit by brokers and fund managers from 16 - 18 May.
> Intersuisse will attend.
> Indicative value 26 cents, current price 17cents.
> ...




Here is the updated broker report from the recent site visit by the brokerage, new conservative target of 26cents:
http://www.syndicatedmetals.com.au/reports/SMD_11May25.pdf


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## springhill (18 July 2012)

Ordinary Shares 137.2M
Unlisted Options 28.8M (15c ‐ 55c) 
Share Price 6.5c
Market Cap $8.5M
Cash $2M

Top 10 shareholders 59%
Directors and Management 15%
Korea Zinc 10%
Cerro Resources NL 9%

*Board of Directors*
Peter Langworthy ‐ Chairman Ex‐Jubilee, WMC
Andrew Munckton – Managing Director Ex‐Avalon Minerals, Gindalbie Metals
David Morgan – Operations Director Ex‐Sundance Resources, Gindalbie Metals
Jan Hope – Non‐Executive Director Ex‐Ampella Mining, Investor Relations
KD Park – Non‐Executive Director Representative of Korea Zinc

*Northern Hub*

Barbara Project
• Resources defined to date: 5.3Mt @ 1.7% CuEq for 89,000t CuEq (Indicated + Inferred)
• Best drilling results to date include:
 10m @ 3.6% Cu, 0.28g/t Au from 53m (South Lode)
 15.9m @ 2.11% Cu, 0.3g/t Au from 248m (South Lode)
 12.2m @ 1.43% Cu and 0.13 g/t Au from 256.3 (South Lode)
 9m @ 1.74% Cu, 0.28g/t Au from 31m (North Lode)
• Drilling to target Barbara extensions as part of 2H 2012 program
• Exploration Target within 5km radius: 20Mt @ 1.5‐2% CuEq
• Overall Exploration Target within 20km radius: 50Mt @ 1.5% Cu Eq

Yamamilla Project
• JV with Deep Yellow Ltd – SMD earning 80%, with option to increase to 100% of Base Metals
• Drill‐ready targets
• Outcropping copper with coincident VTEM, magnetic and geochemical anomalies
• Rock‐chips to 30% Cu
• 7km copper‐in‐soil anomaly
• High‐grade rock chips outside established soil geochem
• Phase 1 drilling commencing 2H 2012

Blue Star Prospect
• Ownership: 51% SMD
• Located 70km from Cloncurry
• Inferred Resource: 0.2Mt @ 2.3% Cu and 0.3g/t Au for 4kt Cu and 1koz gold
• Significant growth potential with further drilling
• Several high‐grade intersections at UG mining levels
• Adjacent exploration targets (100% SMD) require follow‐up

*Southern Hub*

Kalman
• Ownership: SMD/Cerro JV
• SMD earning 60% with option to increase to 80%
• $1.6M spent to date
• Located 100km from Cloncurry
• Current Inferred Resource: 62.9Mt @ 0.74% CuEq for 465kt of contained CuEq
• Large system with high‐grade zones
• Potential strategic partnership opportunity at Kalman deposit
• Exciting satellite exploration target at Duchess
• Large mineralised system
• Similar footprint to world‐class Merlin deposit (Ivanhoe Mines)
• Potential high‐grade copper zone, with results including:
 9m @ 20% Cu,
 53m @ 2.1% Cu
• Best mineralisation at ~500m depth
• Exploration Target = Additional 20Mt @ 1.5‐2.0% CuEq

Countess Project
• 100% SMD and JV with Cerro Ltd:
• SMD earning 60%, with option to increase to 80%
• Part of tenure under competing application
• 25km granite contact horizon
• Outcropping Cu mineralisation with strong geochemical anomalies and drilling intersections
• 5 targets identified
• 3 strong soil geochem anomalies, never drilled
• Numerous +1% Cu and +1g/t Au intersections in historical drilling at Countess
• Comprehensive geochemistry and geophysics surveys commencing July 2012

Duke Prospect
• 100% SMD and JV with Cerro Ltd:
• SMD earning 60%, with option to increase to 80%
• 15km granite contact horizon
• Outcropping copper mineralisation with strong geochemical anomalies
• Target horizon never drilled
• Numerous high grade rock chips
• 2km copper‐in‐soil geochem anomaly, never drilled
• Adjacent to old Duchess Mine historical production grade of 8% Cu
• Detailed geochemistry to commence 2H 2012
• Drilling to commence 2H 2012


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## Clansman (18 July 2012)

Looking at that programme, a capital raising would likely be on the cards within 12 months.
Does anybody have any info on the rhenium mentioned previously?


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## springhill (18 July 2012)

Clansman said:


> Looking at that programme, a capital raising would likely be on the cards within 12 months.
> Does anybody have any info on the rhenium mentioned previously?




If you are looking for clear information, I would just email them and ask mate.


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## Paavfc (8 May 2014)

Looking good with grades over 3% Cu

Market starting to move and production early 2015...


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## Paavfc (18 June 2014)

Looks ready to move.....


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## System (26 March 2020)

On March 26th, 2020, Syndicated Metals Limited (SMD) changed its name and ASX code to Discovex Resources Limited (DCX).


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## greggles (4 February 2022)

DiscovEx moving up 40% today after Carnaby Resources announced a major copper gold discovery at the Nil Desperandum Prospect at the Greater Duchess Project. Over 85 million shares traded so far today.

DCX holds a 17.5% interest in the Greater Duchess tenements and is free carried through to a decision to mine. With a maket cap of only $25 million there could be some real value here.


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## finicky (4 February 2022)

Could still be a good buy - 17.5% free carried of Nil Desperandum and some other tenements is better than a poke in the eye even after closing on its high, up 40%. I never jump on these things once they've moved but that can often be a costly attitude.
If the 2.6 billion shares were consolidated to 100m shares the share price from 1.4c today would consolidate to about 37c. That's for an expense free 17.5% of a plausibly rich Cu deposit in a prime location.
They also hold a gold prospect at Edjudina where Gibbs (GIB) project is located. They have $2.5m cash, possibly enough for 4 Qtrs at their rate of spending.

Not Held
Not Buying


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