DMM - DMC Mining

[Go Nuke]

AGAIN - DYOR on this one - I'm not accountable for anything you do with your own money!

lol. You don't have to worry about that mate.

Ive got no money to spend. Its all sitting stocks with badly beaten share prices...like Bannerman.

Flat broke (for investing) and struggling to save for a house, so as much as I'd like to buy more as this is a great time (almost perfect for loading up on bank stocks) but can't.

Goodluck to you too

 

[quarky]

last 6 months of DMM...

i should have sold it in June (at over a $1)


anyway, global markets don't look good at the moment and it'll be some time before DMM rises again to my $0.75 buying...and maybe if/when companies look toward investing in Africa.

 

[d_crome]

Quarky - I've shelved my interests in DMM until logic returns - god knows when that'll happen - however if you'll note that the last ASX announcement wanted to sure up the directors benefits in the event of a TAKE OVER.

Given their proximity to infrastructure and increasing JORC'd resource program - maybe they know something we don't?

 

[YOUNG_TRADER]

Interesting take D Chrome, what exactly was it in the announcement that makes you say "directors shored up to benefit in case of takeover"

p.s. I am in the exact same boat as you, all of my promissing juniors have been slaughtered mercilessly, but hey so have the CNP's the BNB's the BHP's the RIO's everyone so its all relative I guess

 

[J.B.Nimble]

Interesting take D Chrome, what exactly was it in the announcement that makes you say "directors shored up to benefit in case of takeover"

p.s. I am in the exact same boat as you, all of my promissing juniors have been slaughtered mercilessly, but hey so have the CNP's the BNB's the BHP's the RIO's everyone so its all relative I guess

I spotted it too. They have applied to the ASX to vary the terms of 3,000,000 unlisted options to include a term "that in the event of a takeover or change of control in the Company, the options should vest in the holder immediately." Could be just a smart bit of forward thinking to look after their own best interests but perhaps there is a sniff of activity here. At these prices you would have to expect bigger fish to be eyeing up the minnows...

 

[Sean K]

At these prices you would have to expect bigger fish to be eyeing up the minnows...

Their MC is down to $20m ish.

Incredible to think with the resource base thay have and could have.

Obviously much lower prices for IO are being factored in and lack of credit.

I didn't see the Intersuisse report slapping a spec buy on them.

Here's the summary:

DMC Mining Limited Speculative Buy

(ASX Code: DMM) www.dmcmining.com.au Price $0.50 August 2008

• GRD Minproc Scoping Study on Mayoko iron ore deposit in the Republic of The Congo indicates annual revenue potential of between US$177 million and US$308 million based on an 11 million tonnes per annum (mtpa) operation at
long term prices.
• The study considered an initial 3 mtpa direct shipping ore (DSO) project ramping up to 11 mtpa DSO hematite within four years. Capital cost estimates are US$198 million for the initial operation and US$486 million for the full 11 mtpa project. Operating costs are estimated at US$22.5 per tonne.
• A 3 mtpa DSO magnetite plant would follow as Stage 2 giving the project longevity.
• Initial Mayoko iron ore JORC resource of 33 million tonnes averaging 55.5% iron. Geological modelling has outlined a target of 110 million to 135 million tonnes of hematite enrichment at 55% to 58% iron and 750 million to 800
million tonnes magnetite at 35% to 45% iron.
• Existing railway located within 5 km of project linking to deep water port at Pointe Noire and European markets.

 

[d_crome]

YT - good to have you back mate, granted you certainly didn't miss anything too enjoyable in your absence.

As Nimble also pointed out - the announcement looks to be a cover for the existing directors for their own golden parachutes should they be "unfortunate" enough to be a TO target.

In times of public scrutiny of executive remuneration packages one could almost laugh at the timing of that announcement - however given the loss that most here are sitting on - to me this indicates a silver lining that indeed when the dust settles and the smoke clears from the fear mongers in the press that are selling covers of their monthly magazines by instilling fear (sorry for the personal rant on what I see as a simple problem with human perception) then we'll see what goodies the DMM team have been working away on *cough* upgraded JORC *cough*.

For me the true interest is in China - we've really heard VERY little out of them since the close of the Olympics - and given how shrewd an operator they are I'm almost willing to bet they're playing poker right now with world commodity prices - how do we know how "bad" things are in China? I'm willing to bet (as most of us have by holding shares such as DMM) that the Chinese are stating they're in financial difficulty/economic slow down to influence a reduction in the prices they more than willingly agreed to 6 months ago for I/O etc.

And if the Chinese ARE in such dire straights - I do believe that it's India's turn to take centre stage of the worlds economy - they've been applying extremely conservative financial practices that it's now their turn to be the cashed up ones looking to buy.

Either way I'm holding - to sell right now would just be a very short sighted decision given the benefits of what DMM previously HAD - let alone the additional value a revised JORC might entail.

 

[kenny]

Wish I could vary the terms of options that I hold like that. Do they have to seek shareholder consent at all?

I have to agree that it is a very astute move on their part.

Not too sure about India taking the baton from China just yet. The Chinese haven't finished I suspect despite these headwinds.

Speaking of which, India is not immune either. They have an inflation rate over 11% despite the 7%+ GDP growth.

Here's some recent news links for the interested.

Cheers,

Kenny


http://economictimes.indiatimes.com/News/Economy/Indicators/Growth_slowdown_major_concern_rate_cut_needed_Economists/articleshow/3615141.cms

http://indianeconomy.org/2008/10/16/the-indian-political-business-complex/#more-690

http://www.nytimes.com/2008/10/17/world/asia/17india.html?em

 

[Sean K]

What idiot sells a handful of shares to tank an sp 50%.



Bloody desperate taxi drivers needing money for some petrol.

Idiots!


(Maybe the question should be, who's the bigger idiot for still holding )

 

[JTLP]

LOL...well someone wants this bad boy smashed today...they just sold into the 15 cent shares! Current bid at 10.5...market cap at a HUGE $3M =).

What am I missing here? The infrastructure already in place? The ore waiting to be shipped out?

Kennas give me a High-5 big man...im holding as well LOL.

Only needs 1 person to buy 120,000 to make this look half decent

JTLP

 

[JTLP]

Oh and do my fingers want to get dirty or what...the way this thing moves and shakes...mmm

I do have a question though...why dont they do a share split to limit this volatility?

And why aren ´t directors buying! Confidence boys...

 

[Go Nuke]

Very good point JTLP!
I would feel better seeing directors buying in at these levels.
Maybe they are just like some of us atm, up to their eyeballs in debt or dont have any capital to play with because its tied up in investments already?
A few months back i would have been shocked to see a price movement like that, but hey we are living in times where the DOW goes up 900 points one day and down a few hundred points the next.

 

[jonojpsg]

LOL...well someone wants this bad boy smashed today...they just sold into the 15 cent shares! Current bid at 10.5...market cap at a HUGE $3M =).

What am I missing here? The infrastructure already in place? The ore waiting to be shipped out?

Kennas give me a High-5 big man...im holding as well LOL.

Only needs 1 person to buy 120,000 to make this look half decent

JTLP

He he, I'd love to have the cash to be able to take out the buy side and see what happened. The feeling of power over the market

 

[quarky]

What idiot sells a handful of shares to tank an sp 50%.



Bloody desperate taxi drivers needing money for some petrol.

Idiots!


(Maybe the question should be, who's the bigger idiot for still holding )

me.
i'm still holding.
i bought a small parcel at $0.74, many months ago.
saw it rise to $1.10 but didn't sell.

now it's at AU$0.15 !

my financial woes continue...

 

[Nuke]

http://www.tradingmarkets.com/.site/news/Stock%20News/1958896/

LONDON, Oct 21, 2008 (Dow Jones Commodities News via Comtex) -- FCX | Quote | Chart | News | PowerRating -- Congo's review of mining licenses is being held up a change in government that hasn't yet been completed, the chief executive of Freeport McMoRan Copper and Gold Inc. (FCX) said Tuesday.Speaking on a conference call, Richard Adkerson said the Congo prime minister was working to name a new government. The country's president Joseph Kabila, appointed Adolphe Muzito as prime minister on Oct. 10 following the resignation of Antoine Gizenga at the end of September.

Adkerson said he was confident that its license to operate in Congo was binding to both Freeport and the government, as well as fair to the country in terms of taxation and royalties.

Freeport operates the Tenke Fungurume copper and cobalt project, which is slated to start production in the second half of 2009.

Around 21 mining companies active in Congo could lose their licenses following a government review, and may be forced to compete for them from scratch. Around 26 other companies are renegotiating their licenses, while 14 miners look set to get the green light to continue with their existing contracts.

Freeport has spent around $1 billion of a total $1.75 billion estimated in a capital cost review for Tenke in April.

 

[Sean K]

http://www.tradingmarkets.com/.site/news/Stock%20News/1958896/

LONDON, Oct 21, 2008 (Dow Jones Commodities News via Comtex) -- FCX | Quote | Chart | News | PowerRating -- Congo's review of mining licenses is being held up a change in government that hasn't yet been completed, the chief executive of Freeport McMoRan Copper and Gold Inc. (FCX) said Tuesday.Speaking on a conference call, Richard Adkerson said the Congo prime minister was working to name a new government. The country's president Joseph Kabila, appointed Adolphe Muzito as prime minister on Oct. 10 following the resignation of Antoine Gizenga at the end of September.

Adkerson said he was confident that its license to operate in Congo was binding to both Freeport and the government, as well as fair to the country in terms of taxation and royalties.

Freeport operates the Tenke Fungurume copper and cobalt project, which is slated to start production in the second half of 2009.

Around 21 mining companies active in Congo could lose their licenses following a government review, and may be forced to compete for them from scratch. Around 26 other companies are renegotiating their licenses, while 14 miners look set to get the green light to continue with their existing contracts.

Freeport has spent around $1 billion of a total $1.75 billion estimated in a capital cost review for Tenke in April.

Wrong Congo GN.

DMM are in the Republic of the Congo, whose President is Denis Sassou Nguesso.

The bad Congo is the DRC and is to the south and is almost at war with Rwanda...

 

[Go Nuke]

Ummm actually Kennas that wasn't me..lol.

Close...but not me

And yes...wrong Congo nuke. Again close...but wrong one

 

[Nuke]

yep, sorry about that! I only realised I got the wrong Congo after posting!! Good news for DMM then!!.

 

[Sean K]

Who is the idiot taxi driver that sells 400@.145 and 4600@.12 to tank the price 17%.

Punters are desperate!

 

[eclectic_nish]

Okay....then why should i hold ?

Someone is selling prob coz they dont see the value in DMM. What has the company done in the last 2-3 months ? When are they going to drill?
Looks like they are just rehashing old anns.

Anyways i hold for the long term...but i wish i didnt.