DMM - DMC Mining

[Go Nuke]

At least there are stuff all sellers...mind you stuff all buyers too

Guess we are all holding losses and thats why there's no sellers

 

[ColB]

Originally posted by Go Nuke

At least there are stuff all sellers...mind you stuff all buyers too

Guess we are all holding losses and thats why there's no sellers

Good to see I'm not the only one holding these for which i paid 86c !!

We should rename it the 'Biggest Losers Thread'

 

[d_crome]

Granted I'm not sitting on as big a loss as you - but I'm close!

Given that there are a lot of DMM victims here I say a support group could be in order. lol

You live, you learn.

 

[Bomba]

i have 6,000 of these beauties at 0.80.

i am glad i offloaded the other 5,000 i had at 0.60.

please count me in the support group.

 

[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

lol 6,000? If you only knew how many of these bad boys I have and how much it cost me, oh well not selling at these prices, granted the game has changed but this one is just ridiculously cheap so will hold and wait for something to happen

Only concern cash is getting low, but the resource is there and does have value to it, the conv note funding package is a bit of a joke but times are tough for juniours I guess


Interesting to see the following, probably just a coincidence though

On the 19th December 2008 DMC announced the appointment of Mr Kim
Bischoff to the Board of the Company, in the capacity as Non Executive
Director.
Kim Bischoff is an experienced Australian geologist with over 24 years
experience in mineral exploration, project and business development,
production and country management in Australia, Africa and South East Asia.
He has held a variety of roles including Exploration Manager, Chief Mine
Geologist and other senior positions for companies in Indonesia, East Africa,
and Australia. He has managed exploration and development of gold, copper
and iron deposits and has significant production experience in underground and
open pit mining. His expertise lies in the geological and commercial assessment
and progression of metalliferous exploration and mining projects, in building
and managing project teams, in technical systems development, and in country
management. Kim is currently employed as General Manager – Exploration for Cape Lambert Iron Ore Limited.

 

[d_crome]

lol 6,000? If you only knew how many of these bad boys I have and how much it cost me, oh well not selling at these prices, granted the game has changed but this one is just ridiculously cheap so will hold and wait for something to happen

Only concern cash is getting low, but the resource is there and does have value to it, the conv note funding package is a bit of a joke but times are tough for juniours I guess


Interesting to see the following, probably just a coincidence though

On the 19th December 2008 DMC announced the appointment of Mr Kim
Bischoff to the Board of the Company, in the capacity as Non Executive
Director.
Kim Bischoff is an experienced Australian geologist with over 24 years
experience in mineral exploration, project and business development,
production and country management in Australia, Africa and South East Asia.
He has held a variety of roles including Exploration Manager, Chief Mine
Geologist and other senior positions for companies in Indonesia, East Africa,
and Australia. He has managed exploration and development of gold, copper
and iron deposits and has significant production experience in underground and
open pit mining. His expertise lies in the geological and commercial assessment
and progression of metalliferous exploration and mining projects, in building
and managing project teams, in technical systems development, and in country
management. Kim is currently employed as General Manager – Exploration for Cape Lambert Iron Ore Limited.

YT - you think CFE could be a potential buyer?

Would make sense given the rather "poor" finance deal DMM secured for themselves....

 

[Sean K]

I'm not sure why this needed a trading halt.

Good news with a quick glance though.

Any war stoppers in the minor detail on the rail line?

Just questions on the bridges really.

700 plus cars for the 11Mt pa won't come cheap will they?


DMC Completes Landmark Rail Access Agreement

Highlights
● DMC granted immediate access to the Mayoko to Pointe Noire Rail Line.
● The rail line is approximately 2.2 km from DMC’s Mayoko Iron Ore
deposit and runs to the wharf of the established deep water port of
Pointe Noire.
● DMC has engaged Perth based project management and engineering
company, Engenium Pty Ltd to compile all available information on the
Mayoko to Pointe Noire rail line as a preliminary to commencing a
feasibility study.

 

[d_crome]

Well - it IS April 1st - and we are all FOOLS for holding this stock - hence I assume that's why the announcement was held till today.

 

[YOUNG_TRADER]

YT - you think CFE could be a potential buyer?

Would make sense given the rather "poor" finance deal DMM secured for themselves....

Well I just had a very interesting conversation with a broker mate,

Turns out the company that advanced the conv note to us
Dempsey Resources Pty Ltd (“Dempsey”) see ann http://imagesignal.comsec.com.au/asxdata/20081211/pdf/00912627.pdf

Is a subsidiary of Cape Lambert

See the ann's where Dempsey Resources Pty Ltd (“Dempsey”), a wholly
owned subsidiary of Cape Lambert Iron Ore provided funding to LAT Ltd.http://www.latinresources.com.au/Investors/Announcements/Latin%20Resources%20secures%20$2.2m%20funding%20facility.pdf

Now the note converts at the lesser of 10c of 5 day VWAP, so lets assume 10c = 20m shares, given DMM currently only have 45m shares that would be 30% of the issued capital to CFE for a measely $2m

 

[rhyslivs]

Is there anything to expect in the next quarter that might stimulate a bit of movement in this stock. It would be good to get some of the options converted at the end of June.

 

[Go Nuke]

Hi YT nice to see ya back

Its funny how all these directors have so many connections with other companies.

I found something like that the other day NGE and ORD having a connection through directors being on different boards.

Thats a great theory about CFE making a play for DMM. Though CFE has just done a deal to secure the Marampa Iron Ore project (Sierra Leone).

Is it possible for them to take a stake in DMM?

Maybe someone likes the idea of investing in these nations.

Pehaps they want to be the next "Force in Iron Ore"...from Africa.

(sorry thats probably ramping..lol)

 

[YOUNG_TRADER]

Hmmm interesting volume of late, guess the rail/infrastructure access agreement has got this back on a few radars

Its Mkt Cap is ridiculous around $4m or less

With JORC 33Mt's@55.5% Fe and upside exploration targets of 135Mts@57%Fe and 800Mt's Mag at 35%Fe


So yeah I can definately see someone like Cape splashing out some $$$$ to take this over, how much and when is another story but this is just too cheap, always has been... hope it won't always be

Has been trading between 7c and 10c if it can break up through 10c would be nice

 

[JTLP]

Connections connections connections...I always thought it was just a way of directors making more $$$ and going on more holidays!

Anyway, volume is up a bit today and somebody has grabbed all on offer at 9 cents. Not saying we are going to be flying any time soon but its nice somebody has chewed them up...

 

[YOUNG_TRADER]

Hmmm interesting read of the AGM meeting notes especially the Experts Report,

Much of the AGM notes are directed at Dempsey (ie Cape Lambert CFE) being able to convert their convertible note for shares, the experts report states that the conversion is NOT fair but reasonable go figure lol

Also the companies assets mainly Mayoko is worth 23.5c per share (very conservative when compared to value being placed on SDL's Iron Ore prject) but nevertheless thats 23.5c vs current SP of 10c

 

[YOUNG_TRADER]

Hmmm interesting announcment out

A follow up to the Experts Report on the "control" value of DMM


The Independent Experts Report states the assessed value per DMC share
including premium for control to be $0.287 per share as at 31st March 2009


Could a takeover be in the wings? very interesting they are going to this effort to state what the takeover/control value of DMM is

 

[Largesse]

Reading today's assesment of our finance leaves me feeling like i'm riding a bike with no seat

anyone care to throw in their thoughts aswell?
36% dilution sounds pretty bad

 

[d_crome]

Don't worry - you usually can get good value bike lube at any reputable bike store...might make it easier!

I think we're all feeling it at this point - looks like CFE are going to get this dirt cheap - pretty much how I saw it coming if you you back over the last few months.

CFE provided some funding in a very poor deal for DMM.

Management secured their golden parachutes.

Now Management release documentation stating the company is worth oh, about 23.5% of what some LARGE INVESTORS (*cough* passport *cough*) bought in at - at least so I believe.

Bottom line - we're all not going to like any of this at all.

 

[ColB]

Originally posted by D-Chrome

"...Don't worry - you usually can get good value bike lube at any reputable bike store...might make it easier!..."

If I get 28.7 cents per share I'm gunna buy meself a new bike!!

Could be worse guys. You could've bought 500,000 shares of LOD @ 6.5c like I did and watched em drop to 1 cent about 2 months ago.

Look at em now (7.7 cents) Glad I didn't capitulate. Let's hope DMM does the same

 

[d_crome]

Announcement out...

Is it just me or are the proverbial's starting to leave the sinking ship??

Again - DYOR, just my own idiotic ranting going on here...

 

[Sean K]

Announcement out...

Is it just me or are the proverbial's starting to leave the sinking ship??

Again - DYOR, just my own idiotic ranting going on here...

A company secretary leaving is probably not too much to worry about.

Although VERY thinly traded (warranted by SOI), looks like a bottom was formed around 6c. Perhaps the dead wood has been cleared?