DMM - DMC Mining

[tigerboi]

Re: DMM-rail maintenance is vital with old lines

I think some may have missed the point about 40 year old gear(as well i think it was actually built in the 20's)

It is ok to run the old gear but when your running bulk tonnages with iron ore,coal,manganese etc you have to be right on top of your preventitive maintenance.so you must do your work upgrades BEFORE they go crash bang wallop.i believe the line is 360 km long...mayoko to the port,lot can go wrong in 360 kms with old gear.

if you want an efficient operation you would punt the old gear...its just too unreliable

new engine from downer edi costs $5m,guy that owns stc transport just bought 8 new ones to run bris-melb-perth for the woolies contract...he hauls 20,000 tonne from melbourne to perth...

remember this is a single line to start with so maintenance is doubly important as down time with bulk haulage is a killer.

If you read the reports you will see the line has only been used for passengers since 1986...

do you know how long it takes AIO to get a train through sydney on a good day...6 1/2 hours...

 

[prawn_86]

Re: DMM-rail maintenance is vital with old lines

do you know how long it takes AIO to get a train through sydney on a good day...6 1/2 hours...

what/how does that have anything even remotely related to DMM, aside from the fact that there are trains in both examples....

 

[tigerboi]

Re: DMM-rail maintenance is vital with old lines

what/how does that have anything even remotely related to DMM, aside from the fact that there are trains in both examples....

talking about rail effiencies which is crucial in DMM'S case as they propose to use a single line on the 1st half of the trip...example of what can go wrong when you dont get things right such as capacity overload & not performing maintenance when required...

AIO & others trains get held up because of preventitive maintenance not being performed...

 

[Sean K]

Re: DMM-rail maintenance is vital with old lines

AIO & others trains get held up because of preventitive maintenance not being performed...

Yes, you're spot on with this one. I was reading in the Scoping Study that GRD recommended NO preventative maintanance to be performed. That would ensure that the track and trains would fall apart and make the project uneconomical. DMM are right behind this recommendation.

 

[JTLP]

New low today. 7 cents. Ouch.

Kennas hold me...i'm scared

What are we waiting on now? Feasible studies? Resource Upgrades?

Someone to just buy some shares?

DMMO expires in Jun '09. They'd want to start some sort of SP increase between now and then...it's only 4 months away . And by increase i'm not talking about a spike.

What's the G-O with the Iron Ore market these days anyway? Prices up?

Any takeover potential with DMM?

 

[Sean K]

New low today. 7 cents. Ouch.

Kennas hold me...i'm scared

What are we waiting on now? Feasible studies? Resource Upgrades?

Hi JTLP, Yes looks untidy on the screen, but think the significance of the volume.

30K ish @ 7 c = $2100 ish I think.

Obviously a big player trying to take get out of their position ....

Or, maybe it's tigerboi's uncle making a trade while pushing the red and greeen buttons on his train?

As I think I mentioned a while ago in my blog, too late for me to get out. They have enough cash to get by for a year of exploration and development I think, at which time a few economists are saying there will be a bottom. So, I'm either taking a massive paper loss and potential capital loss in June, or we'll see a turn around and maybe even a buying opportunity later in the year.

Cripes $1.10 to 7c.... That is crap if anyone bought and held from the top. Ouch.

 

[kenny]

As a chronic lurker on this thread I'm wondering whether most holders of DMM are reluctant ones presently. Trader turned Investor so to speak.

Has there been any word as to the intended use for the funds gained from the conversion of the options in June? Does DMM have enough funding to last till then?

Regards,

Kenny

 

[shag]

As a chronic lurker on this thread I'm wondering whether most holders of DMM are reluctant ones presently. Trader turned Investor so to speak.

Has there been any word as to the intended use for the funds gained from the conversion of the options in June? Does DMM have enough funding to last till then?

Regards,

Kenny

id say everyone here is stuck with the thing.
i still like the story, even the pic's of the 'dodgy' railway line looks damn flash to me, they just need some tordon granules on the track to kill the grass forever and a few hot locos and wagons from someone dumping old stock like nz.
like the liquidy on this one is about as wet as the middle of aus....

 

[d_crome]

The thing that kills me right now is the absolute near silence of management - their stock price has sunk near 90% and the ONLY news we get is "Oh - took a rather highly risky finance offering" and that's that.

NO news on the revised JORC progress.

NO news of the JV search.

NO news....

I think DMM is the stock that taught me a lesson unfortunately.

 

[Sean K]

The thing that kills me right now is the absolute near silence of management - their stock price has sunk near 90% and the ONLY news we get is "Oh - took a rather highly risky finance offering" and that's that.

NO news on the revised JORC progress.

NO news of the JV search.

NO news....

I think DMM is the stock that taught me a lesson unfortunately.

Yeah, pretty average, and certainly if you bought and held from over $1.00. They were supposed to start a drilling program in Aug 08 I recall to extend the JORCs. Now they say they are about to do some chanelling or something in prep for drilling.

The news on you three points here were actually covered in their Dec Qtly out last week, but it was VERY light on for detail. The news was....NO news!

Maybe if IO spot has bottomed then punters will revisit. One thing's probably sure though, those that had to get out, have already.

 

[d_crome]

Kennas - one can only hope - though people still dump this stock at 5, 7 and 9 cents over the last 5 months or so has me pretty amazed.

I didn't buy at the peak, but I'm certainly sitting on a loss like most holders on this one.

The revised JORC for me was what kept DMM in play - thats what they need to focus on right now, simply informing the market that they're alive, drilling and awaiting good results.....

 

[d_crome]

So no news at all - makes you wonder how management are "spending" that 2 Million $ lifeline - if at all - or if their working out how best to line their own pockets should she go under.

Its not THAT hard to release a JORC update in progress announcement is it??

 

[Beethoven]

Just looking at the quarterly cashflow. Seems a little fishy to me. They spent $640,000 on administration fees and spent $321,000 on exploration. How does that work out? They spent more running the business rather than exploration totalling almost 1 million spent in a quarter. How can you spend that much on administration fees. Last quarter they say they are going to use $300,000 however they burn twice that much and this quarterly cashflow statements states the same thing. Thats quite a lot for doing nothing don't u reckon. Also they get a $2 mil lifeline which will only last half a year???? . I don't see how you could possibly justify using that much money and not release anything. I wouldn't touch this company with a 10 foot pole.

 

[JTLP]

DMM down on massive p volume...ouch.

CGT write offs for this bad boy it seems...

Surely management can provide a little update once in a while? No real news since the funding facility...getting quite stale actually...

What are we expecting in the coming months?

 

[Sean K]

I think it's been no news because they went into hybernation due to the crisis and have wanted to save money for when the world turns around, which is the right thing to do imo. I don't think they're yet to continue the drilling program to expand the JORC. Time to get out, or just wait it out I think. And yes, that volume on the sell down is alarming. Capitulation. lol

 

[JTLP]

DMM bouncing up down and around the last few days...

Does this report have anything to do with it:
http://www.researchfrc.com/

Scroll down the page and look for the date 2009.02.25...DMM should be listed there.

The report makes for some interesting reading...and the research company puts a fair value of 20 cents on DMM

Anyway...read for yourselves and tell everyone what you think...

 

[Aargh!]

DMM bouncing up down and around the last few days...

Does this report have anything to do with it:
http://www.researchfrc.com/

Scroll down the page and look for the date 2009.02.25...DMM should be listed there.

The report makes for some interesting reading...and the research company puts a fair value of 20 cents on DMM

Anyway...read for yourselves and tell everyone what you think...

Well I had a read over it. I don't think it provided more insight really. Just appeared to be recycled information.

I did note that DMM has paid them for the 'research' a sum of less than $30,000 (in disclosure section). Also their rating ratio says they rate a BUY 70% of the time. It appears they generally provide a buy for the right price.

 

[JTLP]

Trading halt...

Pending announcement of an infrastructure agreement...

PLEASE OH PLEASE be a good thing (it sounds like one )

Holding and watching...waiting...

Thoughts?

 

[Largesse]

I would truly love it if the announcement sparked some interest in this stock.
Maybe then my options might have a value again....

 

[grace]

Trading halt...

Pending announcement of an infrastructure agreement...

PLEASE OH PLEASE be a good thing (it sounds like one )

Holding and watching...waiting...

Thoughts?

Yes, I'm praying that it wakes up from the dead too. Most of the other iron ore explorers have had a bit of a move up recently. This one is lagging the chain.