Sean K
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DMM - DMC Mining
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Sean K
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Hmmm, the punters are lining up. Looks like just about the entire sell side is going to be wiped out. Risky for new traders to try and jump on IMO, best of luck to anyone who plays it.
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i hate these sorts of announcements... estimates and vague numbers.. give me some drill hole results, hole locations.. maybe some gravimetrics..
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I'm thinking more geography and politics with this one. Congo has been torn apart by civil war with millions dead over the years. It is definitely not Cameroon (ie Sundance). All for taking a risk but not with the Congo.
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its actually in the
"Republic of Congo"
http://en.wikipedia.org/wiki/Republic_of_the_congo
not the "Democratic Republic of the Congo"
http://en.wikipedia.org/wiki/Democratic_Republic_of_the_Congo
These are two different countries right next to each other.
DMM's iron ore project is in the first one.. not great.. but if it was in the 2nd one then you can forget about it!
"Republic of Congo"
http://en.wikipedia.org/wiki/Republic_of_the_congo
not the "Democratic Republic of the Congo"
http://en.wikipedia.org/wiki/Democratic_Republic_of_the_Congo
These are two different countries right next to each other.
DMM's iron ore project is in the first one.. not great.. but if it was in the 2nd one then you can forget about it!
Sean K
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bigdog
Retired many years ago
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DMM 1.05 +0.300 +40.00% 509,661 shares $474,371 @ 10-Dec 12:43:58 PM
http://www.theaustralian.news.com.au/story/0,25197,22895916-18261,00.html
Offshore predators circle the pride of our land
Robin Bromby | December 10, 2007
Iron ore attractions
SO will demand for iron ore. So much so, in fact, that deposits that have proved too hard in the past are getting another look-over.
The 1.5 billion tonne Gara Djebilet deposit in Algeria has previously put off some companies because of its high levels of alumina, phosphorous and arsenic. But now ArcelorMittal, Korea's Posco and China Metallurgical are running the ruler over it.
DMC Mining saw its shares double last week when it acquired 80 per cent of the Mayoko project in the Republic of the Congo. The Romanians estimated up to 800 million tonnes when they explored Mayoko for iron ore in the 1970s. The French state geological agency also did a great deal of work there. One of the key attractions is an existing railway running through the project to the country's main port of Pointe Noire. It's one of three big iron ore projects in the region - the others being Mbalam in Cameroon now held by Sundance Resources and the Chinese-owned Belinga deposit in Gabon - for which the developers, incidentally and sadly, plan a hydro-electric dam that may destroy the Kongou Falls, described as the most beautiful waterfall in central Africa.
http://www.theaustralian.news.com.au/story/0,25197,22895916-18261,00.html
Offshore predators circle the pride of our land
Robin Bromby | December 10, 2007
Iron ore attractions
SO will demand for iron ore. So much so, in fact, that deposits that have proved too hard in the past are getting another look-over.
The 1.5 billion tonne Gara Djebilet deposit in Algeria has previously put off some companies because of its high levels of alumina, phosphorous and arsenic. But now ArcelorMittal, Korea's Posco and China Metallurgical are running the ruler over it.
DMC Mining saw its shares double last week when it acquired 80 per cent of the Mayoko project in the Republic of the Congo. The Romanians estimated up to 800 million tonnes when they explored Mayoko for iron ore in the 1970s. The French state geological agency also did a great deal of work there. One of the key attractions is an existing railway running through the project to the country's main port of Pointe Noire. It's one of three big iron ore projects in the region - the others being Mbalam in Cameroon now held by Sundance Resources and the Chinese-owned Belinga deposit in Gabon - for which the developers, incidentally and sadly, plan a hydro-electric dam that may destroy the Kongou Falls, described as the most beautiful waterfall in central Africa.
chart looks great imo. it is set to move higher. keep in mind that the company is worth $10,313,000 and with 13.75 million shares(55% held by top 20) it doesn't take long for it to reach $3-$5!!!
this is extract from yesterdays announcement:
• Initial infrastructure review completed
• DMC is encouraged by the review and is seeking to commence a more extensive scoping study on the Mayoko Iron Ore Project
• Resource calculation currently underway
Alot of people are comparing DMM with SDL at the moment, but with huge difference:
SDL: MC of $523 million 1.8 Billion shares, NO rail way, est 800MT +60 Fe
Current price $0.28
DMM: MC of $10 million 13 million shares, with rail way, est 800MT +60Fe
current price $0.75
Hope you all can see the huge potential this stock has.
this is extract from yesterdays announcement:
• Initial infrastructure review completed
• DMC is encouraged by the review and is seeking to commence a more extensive scoping study on the Mayoko Iron Ore Project
• Resource calculation currently underway
Alot of people are comparing DMM with SDL at the moment, but with huge difference:
SDL: MC of $523 million 1.8 Billion shares, NO rail way, est 800MT +60 Fe
Current price $0.28
DMM: MC of $10 million 13 million shares, with rail way, est 800MT +60Fe
current price $0.75
Hope you all can see the huge potential this stock has.
Sean K
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asx, Please take note of ASF policies for posting price targets. ANY price target MUST be accompanied by some attempted FA or TA, or the post usually gets removed. So, can you please provide some justifcation, or it goes. Thanks, kennas
DMM, jumped from 0.20 cents to $1.06 just in couple of days!(November to December 07).
All i am saying is that $5.0 a share will give it a $50 million market cap which is extremely cheap for a iron company IF they can prove 800MT +60Fe!
Don’t you think so?
All i am saying is that $5.0 a share will give it a $50 million market cap which is extremely cheap for a iron company IF they can prove 800MT +60Fe!
Don’t you think so?
Sean K
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Yep, and I suppose the peer comparison with SDL satisfied the requirement too. Looks extremely cheap on that basis, but what price it should be is still questionable. Probably need to drill into it a little more to make sure the peer comparison has some strength.
Well according to the company there was some drilling done by a French company, and the UN, about 15 to 20 yrs ago, but a lot has changed since then and we have to wait for more announcement it think.
But overall I think this company is xxxx atm. However buyers need to be careful with its liquidity, as there are not many shares out there!
But overall I think this company is xxxx atm. However buyers need to be careful with its liquidity, as there are not many shares out there!
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Trading halt on this one,speculation on HC that its either a capital raising(hope not) or a resource estimate on original drill holes(that would be nice)
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Oh snap was so engrossed in GCR I didn't realise this went into a trading halt,
I have bought some but would have liked more, alot more
It looks like a very cheap DSO Heamatite player in Africa
Has now gone into a trading halt pending a JORC
Has a historical resource of like 800Mts
Has 36m shares + 24m 20c options = $36m mkt cap at 60c
I'll try and put some more info together
I have bought some but would have liked more, alot more
It looks like a very cheap DSO Heamatite player in Africa
Has now gone into a trading halt pending a JORC
Has a historical resource of like 800Mts
Has 36m shares + 24m 20c options = $36m mkt cap at 60c
I'll try and put some more info together
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YT that would be great to put some facts and figures together.Still holding some from IPO but sold some heads last week to buy more oppies after I noticed a bit of action-problem is it is so thinly traded that any buying/selling gets interpreted as someone in the know.I know that my little sale last week caused a bit of anticipation that someone in the know was sellingTalk on HC has been of something big and also got a small mention in The West but havent seen the article.Did you get onto PSP
Talk on HC has been of something big and also got a small mention in The West but havent seen the article.Did you get onto PSP
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Hey Alan
here's what I have so far
Mkt Structure
Shares
28m
13m 20c 30/6/09 options
Cash $1m + $5m from options = $7m
Mkt Cap @60c= $17m undiluted or $25m diluted
Projects
Mayoko Iron Ore, 80%, CONGO in Africa NOT DRC
The first thing to stress is that the project is in CONGO not DRC, Congo like Tanzania and Zambia border with the DRC however are relatively unaffected by its unrest
The project is within 30kms of Infrastructure and there is an exisitng 3mt p.a. rail line which leads straight to the exisitng Port Pointe Noire.
This is a huge advantage as the Cap Ex savings in having existing rail and port facilities will be huge, further more since the company has DSO Iron Ore the opportunity opens up for the company to look at a 2 stage operation
Stage 1 can be a small 1-3Mtp.a. DSO operation (similar to AGO)
Stage 2 can be the big Elephant type project ie 30Mt's p.a. or something using the 750Mt-800Mt historic resource
More to come
here's what I have so far
DMM
Mkt Structure
Shares
28m
13m 20c 30/6/09 options
Cash $1m + $5m from options = $7m
Mkt Cap @60c= $17m undiluted or $25m diluted
Projects
Mayoko Iron Ore, 80%, CONGO in Africa NOT DRC
The first thing to stress is that the project is in CONGO not DRC, Congo like Tanzania and Zambia border with the DRC however are relatively unaffected by its unrest
The project is within 30kms of Infrastructure and there is an exisitng 3mt p.a. rail line which leads straight to the exisitng Port Pointe Noire.
This is a huge advantage as the Cap Ex savings in having existing rail and port facilities will be huge, further more since the company has DSO Iron Ore the opportunity opens up for the company to look at a 2 stage operation
Stage 1 can be a small 1-3Mtp.a. DSO operation (similar to AGO)
Stage 2 can be the big Elephant type project ie 30Mt's p.a. or something using the 750Mt-800Mt historic resource
More to come
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lol so my figures were actually right time the first before I amended them,
The reason for the confusion is that I worked out how many shares DMM had on issue + the
Mkt Structure
Shares
36m
24m 20c 30/6/09 options
Cash $1m + $5m from options = $7m
Mkt Cap @60c= $21.5m undiluted or $36m diluted
Projects
Mayoko Iron Ore, 80%, CONGO in Africa NOT DRC
Historical Resource 750Mt's - 800Mt's@56% Fe
Lots of drill assays show good 30m-50m hits at 56% - 60% Fe ALL ENDING IN MINERALISATION
JORC due out and reason for trading halt
@$10/t EV the Mayoko project is worth $4.2 - $4.5 Billion
The first thing to stress is that the project is in CONGO not DRC, Congo like Tanzania and Zambia border with the DRC however are relatively unaffected by its unrest
The project is within 30kms of Infrastructure and there is an exisitng 3mt p.a. rail line which leads straight to the exisitng Port Pointe Noire.
This is a huge advantage as the Cap Ex savings in having existing rail and port facilities will be huge, further more since the company has DSO Iron Ore the opportunity opens up for the company to look at a 2 stage operation
Stage 1 can be a small 1-3Mtp.a. DSO operation (similar to AGO)
Stage 2 can be the big Elephant type project ie 30Mt's p.a. or something using the 750Mt-800Mt historic resource
For more info see http://www.dmcmining.com.au/
http://www.dmcmining.com.au/download.php?fname=./uploaddir/announcement/Pdf_118.pdf
http://www.dmcmining.com.au/download.php?fname=./uploaddir/announcement/Pdf_111.pdf
So the next questions are how big will this intial JORC be?
How much should DMM be worth given the huge upside Mayoko holds?
The reason for the confusion is that I worked out how many shares DMM had on issue + the
DMM
Mkt Structure
Shares
36m
24m 20c 30/6/09 options
Cash $1m + $5m from options = $7m
Mkt Cap @60c= $21.5m undiluted or $36m diluted
Projects
Mayoko Iron Ore, 80%, CONGO in Africa NOT DRC
Historical Resource 750Mt's - 800Mt's@56% Fe
Lots of drill assays show good 30m-50m hits at 56% - 60% Fe ALL ENDING IN MINERALISATION
JORC due out and reason for trading halt
@$10/t EV the Mayoko project is worth $4.2 - $4.5 Billion
The first thing to stress is that the project is in CONGO not DRC, Congo like Tanzania and Zambia border with the DRC however are relatively unaffected by its unrest
The project is within 30kms of Infrastructure and there is an exisitng 3mt p.a. rail line which leads straight to the exisitng Port Pointe Noire.
This is a huge advantage as the Cap Ex savings in having existing rail and port facilities will be huge, further more since the company has DSO Iron Ore the opportunity opens up for the company to look at a 2 stage operation
Stage 1 can be a small 1-3Mtp.a. DSO operation (similar to AGO)
Stage 2 can be the big Elephant type project ie 30Mt's p.a. or something using the 750Mt-800Mt historic resource
For more info see http://www.dmcmining.com.au/
http://www.dmcmining.com.au/download.php?fname=./uploaddir/announcement/Pdf_118.pdf
http://www.dmcmining.com.au/download.php?fname=./uploaddir/announcement/Pdf_111.pdf
So the next questions are how big will this intial JORC be?
How much should DMM be worth given the huge upside Mayoko holds?
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YT,
AGO is now capped at $1bn.
DMM are only valued at $21.5million. Am i missing something?
What were AGO capped at at the stage DMM is now?
Smurfette
AGO is now capped at $1bn.
DMM are only valued at $21.5million. Am i missing something?
What were AGO capped at at the stage DMM is now?
Smurfette
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I think the figures being put about elsewhere in some ways have put people off-they just seem too big to be feasible based on the current MC of company.This and the fact that the reliability of the historical figures being used and the confusion over Congo and DRC.Still holding so hoping its not all pie inthe sky but now YT is onboard who knows where we will end up
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Alan I thought that too but then after I saw the re-assayed drill holes I changed my mind,
Like ACS and YML I knew it was only a matter of time for them to get a JORC, DMM in a lot of ways reminds me of YML (now BRM)
tiny unloved company trading at a huge discount to what it should be
The JORC should make peopel take the company more seriously, I've done some rough calcualtions and I'm expecting 20Mts-40Mt's@57%Fe @ $10/t Fe EV = $114m - $228m
= NET 80% DMM $91m - $182m
Using 60M shares fully diluted = $1.50 - $3 DMM share price
Like I said YML/BRM all over again
p.s. See the re-assayed drill holes
Note the reason I'm expecting the intial JORC to be so small is because only a very small part of the entire project was drilled on a closed space drilling grid which is required for the JORC, the rest of the drilling was wide spaced exploratory type drilling
Like ACS and YML I knew it was only a matter of time for them to get a JORC, DMM in a lot of ways reminds me of YML (now BRM)
tiny unloved company trading at a huge discount to what it should be
The JORC should make peopel take the company more seriously, I've done some rough calcualtions and I'm expecting 20Mts-40Mt's@57%Fe @ $10/t Fe EV = $114m - $228m
= NET 80% DMM $91m - $182m
Using 60M shares fully diluted = $1.50 - $3 DMM share price
Like I said YML/BRM all over again
p.s. See the re-assayed drill holes
Note the reason I'm expecting the intial JORC to be so small is because only a very small part of the entire project was drilled on a closed space drilling grid which is required for the JORC, the rest of the drilling was wide spaced exploratory type drilling
