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DMM - DMC Mining

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Datsun 180B mate - I haven't' seen a "material" based announcement out of management in sometime.

The few they did mention - namely the increased JORC plans and the ore sampling tests have not been mentioned since - both well behind schedule.

What we have heard is about the appointment of "connected" people within the region to the company and studies of what look to be a Thomas the Tank Engine scale rail line from the English Empirical age - not earth breaking stuff here.

I'm personally waiting for this to get marginally higher so I can get out, I can't stand the thought of an 80% loss right now, I'll take 50% and be happy.
 
The current share price sucks, but fundamentally you've got to give it to them, they are one of the few companies that actually stand a chance of getting into production like ADY and TTY and MGX did, theyre slowly chipping away

unfortunately odds are CFE will pounce once all the hard work has been done and imo reap the rewards
 
Not sure if this was posted before, just some thoughts on the infrastructure taken from Proactiveinvestors:

Comparable Infrastructure

"The Mayoko to Pointe Noire line is comparable in distance and axle tonnage constraints to the Westnet rail infrastructure being utilized by Cliffs Natural Resources (Portman’s) for haulage of approximately 8Mtpa of iron ore from Koolyanobbing to the Port of Esperance, and also the narrow gauge rail system being utilized in Queensland for the haulage of coal to the Hay Point Port facility."
 
Lets see if they can do anything to get those options over the line and converted

Given the recent spate of good news it looks like they're trying but I reckon they will need to try harder, also if Cape want to make a tilt at DMM my guess is it will be after the options expire and they'll be hoping and perhaps trying to make sure as few as possible get converted

All speculation on my part :cautious:
 
DMMO cease trading today 23 June 09. So today is the last chance to get in on them if you believe the company is capable of some magical turnaround!

Personally, while I am a holder of the options I don't like the odds.

Unless, they release the test results and they are exceptionally good.
 
Looks to be game over for DMM with the options finishing out of the money.

Will be an interesting scenario for them now with CFE waiting with baited breath to eat them up come note conversion time.

DMM said they were looking into funding agreements/JV's with other parties...surely they would have released an update on this and the metallurgical testing to get the oppies across.

Call me crazy but I smell a rat here...
 
Sure management did try to get the oppies past the mark, with I believe two rather ridiculous "announcements" that were deemed by management to require a trading halt - 1 for when the copier jammed and the other because they were out of Tim Tams at the office *end sarcasm*.

The metallurgic results are nearly 6 weeks behind schedule, there's been no mention of the proposed plan to upgrade the existing JORC and also no discussion what so ever in regards to any potential J/V's.

These are important company making issues - NONE of which were mentioned in the slightest over the past weeks/months.

From what I can gather from previous announcements the powers that be have their golden parachutes all set - it's just really a matter of time for us, the shareholders, to get royally...(fill in the blank).

Again - DYOR - just my own ramblings of an ill informed imbecile.
 
CFE to acquire 37% DMM.

Cape Lambert to acquire 37% of DMC Mining.

Highlights:
● Cape Lambert subsidiary converts A$2 million Convertible Note in DMC,
● Also exercises 5 million, unlisted 15 cent options resulting in a cash injection to DMC of A$750,000,
● Conversion of note and exercise of options will result in Cape Lambert controlling 25 million DMC shares, approximately 37% of its issued capital, and
● Cape Lambert to request additional board representation to enhance the DMC board skill set.
Click to expand...
What does this mean?

Well spotted LN.

eeeeek
 
YOUNG_TRADER said:
The current share price sucks, but fundamentally you've got to give it to them, they are one of the few companies that actually stand a chance of getting into production like ADY and TTY and MGX did, theyre slowly chipping away

unfortunately odds are CFE will pounce once all the hard work has been done and imo reap the rewards
Click to expand...

rhyslivs said:
Not sure if this was posted before, just some thoughts on the infrastructure taken from Proactiveinvestors:

Comparable Infrastructure

"The Mayoko to Pointe Noire line is comparable in distance and axle tonnage constraints to the Westnet rail infrastructure being utilized by Cliffs Natural Resources (Portman’s) for haulage of approximately 8Mtpa of iron ore from Koolyanobbing to the Port of Esperance, and also the narrow gauge rail system being utilized in Queensland for the haulage of coal to the Hay Point Port facility."
Click to expand...


It means as I thought Cape are pouncing on a bargain basement asset

however since they are getting 37% of the company for such a cheap level, they can probably afford to pay a bit more for the balance

edit it also means since they've gone over 20% unless they have an ASIC or ASX waiver they are forced to now launch a full takeover bid
 
YT - mate, in your opinion then, what would you feel a take over bid from CFE would comprise of?

Cash or scrip?

This could be a good "out" for most of us holding - if the world recovery continues to be slugish and ore prices lower, DMM, even in production might not produce the results in a shorter/medium term.

CFE however does however have the cash and have been using it wisely during this time of financial distress, such that trading in DMM stock for CFE stock might actually make sense.

Either way this is interesting to say the least.
 
YOUNG_TRADER said:
edit it also means since they've gone over 20% unless they have an ASIC or ASX waiver they are forced to now launch a full takeover bid
Click to expand...

I dont think the takeover provisions are enlivened as shareholders approved the transaction at a meeting in May.

Though am wondering how many seats they will want on the board.
 
Just got a reply to an email I sent to DMM earlier today. They are very prompt to reply!

"Thanksyou for your email.

Regarding the metallurgical testwrok results, they have not been available to us at this point. You are correct that our initial expectations and statements were that we intended to have the results by May. It is certainly dissappointing to us as well that that has not occured.

The main reason for the delay was that we decided to do a more in-depth minerology/metallurgy analysis of the main ore type at the Mayoko Project which has taken more time, in addition, the turnaround time at Ammtec has taken longer than expected.

Our expectations from here are to have the ASX release within 2 weeks.

Best Regards,

David Sumich"

Looks like they are expecting the test results within the next 2 weeks. We'll see what happens I guess.
 
YOUNG_TRADER said:
It means as I thought Cape are pouncing on a bargain basement asset

however since they are getting 37% of the company for such a cheap level, they can probably afford to pay a bit more for the balance

edit it also means since they've gone over 20% unless they have an ASIC or ASX waiver they are forced to now launch a full takeover bid
Click to expand...


Cape really are gonna end up stealing this one away from the market and us investors




"DMC Confirms Exploration Target Size of 0.7 to 1 billion tonnes at Mayoko Iron Ore Project

Geophysical modeling, constrained by recent trenching and historic
drilling information, estimates an exploration target size1 of 0.7 to 1
billion tonnes of dominantly itabirite iron mineralisation at Mt
Lekoumou and Mt Mipoundi.

Recent trenching and mapping along the Mt Lekoumou – Mt Mipoundi trend, and historic shallow diamond drilling (38 holes; refer Figure 2) at Mt Lekoumou has confirmed the occurrence of supergene hematite mineralisation extending from surface to depths of 10-40m. The supergene hematite mineralisation overlies banded itabirite with grades in the range 35 – 45% Fe being intersected in the base of several of the historic diamond drill holes."
 
Good DMM announcement.

Probably a good time to buy CFE shares as this announcement is generating about as much excitement for DMM as a BeeGee's concert...

True shame that this whole fiasco is starting to look like a well played out scam - why couldn't something like this have been announced PRIOR to the options expiration??

Ah well - just my rumblings and rantings...
 
As I stated on the 03/04/09..

"
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"

Looks like a large amount of IO there.

Lets see if the sp or a t/o offer can get me back into the black:cautious:
 
rhyslivs said:
Just got a reply to an email I sent to DMM earlier today. They are very prompt to reply!

"Thanksyou for your email.

Regarding the metallurgical testwrok results, they have not been available to us at this point. You are correct that our initial expectations and statements were that we intended to have the results by May. It is certainly dissappointing to us as well that that has not occured.

The main reason for the delay was that we decided to do a more in-depth minerology/metallurgy analysis of the main ore type at the Mayoko Project which has taken more time, in addition, the turnaround time at Ammtec has taken longer than expected.

Our expectations from here are to have the ASX release within 2 weeks.

Best Regards,

David Sumich"

Looks like they are expecting the test results within the next 2 weeks. We'll see what happens I guess.
Click to expand...

Well it looks like we should have some results this week, but with DMM you never know. If the results are good it will mean DMM is one of the leaders in the Iron Ore Juniors. I think it will be taken over.
 
How come so many news on DMM and our revered Kennas has not posted anything on DMM

Have you gone for fishing than watching DMM thread ?:D
 
Similar stuff in their quarterly to the content of all their other announcements.

Of particular disappointment is this line:

"DMC had initially indicated metallurgical test work results would be available to market in May 2009, however the revised anticipated release is 4th quarter 2009."

I have emailed the company with a please explain.
 
late afternoon rally for DMC Mining...

Last Trade: 0.290 AUD
Trade Time: 3:15PM AEST
Change: 0.080 (38.10%)
Prev Close: 0.210
Open: 0.235

Day's Range: 0.220 - 0.290
52wk Range: 0.011 - 0.685
Volume: 81,170


can't find the news of why it spiked... :confused:

i'm still holding a sizable portion, bought at $0.70+ about 1.5 years ago.
 

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