Share Name Share Symbol Market Type Share ISIN Share Description
Discov. Met LSE:DME London Ordinary Share AU000000DML9 ORD NPV (CDI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 101.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 2.1 -9.7 -2.4 - 443.18

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Date Time Title Posts
20/11/201218:37Discovery Metals - Emerging copper producer643.00
15/5/201201:23Discovery Metals Ltd.242.00
01/4/200910:37Discovery Resources32.00
31/3/200009:06Dominion changes-

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DateSubject
20/11/2012
18:37
lobb: I kept mine in my ISA. At least for the time being while there is an active offer from the Chinese (recommended to be rejected as an under valuation), the share price performance is satisfactory.
08/3/2012
09:50
p3dr036: Excellent new presentation out today. See http://uk.advfn.com/news/UKREG/2012/article/51531522 First production in H1 2012 - so there should be only a few more weeks before Boseto 1 starts producing cash. So I doubt the share price will be at the current sub 100p level for much longer
18/1/2012
23:13
hertsbirder: A bit more confidence has no doubt helped a few resource stocks recover lost ground, but I've been struck by just how well the DME share price has held up when many other AIM stocks have been slaughtered. I suspect it reflects Market confidence in the company's ability to deliver, the political stability in Botswana, the large institutional holdings, and the long term potential of the license area. The regular positive news flow has helped too. I'm looking forward to the release of the Zeta underground dfs. This was due for completion by the end of last year and assuming it is positive - no obvious reason why it shouldn't be - then this should trigger a further step up in the share price as it should underpin phase two expansion plans for extended mine life and increased production both of which will significantly boost the already good economic case. It is possible the company will delay the release of the dfs until they have completed talks with banks etc over financing the development as I'm not sure they will be able to fund it entirely from cash-flow, though that must be an option if the credit markets are closed in the current climate but would mean a delay. Also possible the company will look to commence production to demonstrate delivery before the banks will release more cash. In any event, this company remains in my view one of the safest mining investments on AIM.
24/11/2011
09:02
nfs: is this why-in part-the share price has tumbled?I think that AIM holders would simply be transferred yes/So if you don't mind the change then the price is down unnecessarily?
28/10/2011
11:37
lageraemia: I've been enjoying the recent movement in the share price, and consider it still undervalued by a wide margin. I have an interest in Silver. The planned DME output of 1.1 million Oz per year is not insignificant in terms of annual world mining output, which is around the 800m Oz mark. Silver is a highly manipulated (supressed) commodity and there is every chance that the physical and paper markets may decouple next year leading to massively higher prices. DME has about half of it's future out put hedged at $37 per oz, which is higher than today's price.
01/2/2011
17:34
chipperfrd: jasper2712, As most market transactions are speculative rather than for investment, I doubt that the recent decline is anything more than profit taking. And with first production due in 2012 there will probably be at least another surge both ways in the DME share price before we have actual earnings under-pinning a more realistic price. For myself, I have built my holding and fully intend to sit on it through production and well beyond! What the price does in the meantime is of little relevance to me other than perhaps offering the opportunity for further top-ups if it becomes excessively over-sold. Chip
23/9/2010
13:21
strark: Sorry for o/t SF - have a look on the NYO board and follow the link to minesite.com report Here is an extract that should interest you....... "Our base case valuation is predicated on the Company defining a JORC resource of up to 2 million ounces which we think that it will achieve within the next 6 months which implies a valuation for the Company of £98m or £0.33 per share. Our back-stop (or worst case) valuation is to assume no further exploration success beyond the current 1.38moz resource which implies a valuation of £73m £0.25 per share. We feel that the resource upgrade is achievable within 6-9 months and that (assuming the gold price remains strong) the share price should easily achieve our base case level by the end of 1Q 2011. We also highlight that fact that as Nyota progresses Tulu Kapi through the feasibility stages, the share price should attract a (somewhat unquantifiable) premium to reflect Nyota's attraction as a take-over target. Some major gold miners are starting to establish a presence in Ethiopia and as a 'first-mover' in the burgeoning Ethiopian exploration scene we expect Nyota to be at the top of any potential acquisition list.
06/7/2010
14:54
uncle john: DME 6 July Hi All I am just back from a presentation from Brad Sampson the managing director of DME. They are quite happy with the way things are going. They are very relaxed and confident. They said very little about the project that has not been said before. In the Q&A session they explained that: The share price declined recently for three main reasons. · The BFS was delayed from May/June because the mgt increased the capacity from 2million tonnes to 3mt per annum. Initially the plant was to have been a modular 2mill extendable to 3 mtpa, but they decided to go for 3m from the off working on a 15 year mine life going underground in year 5. · Consequential revision of the calculations and re quote from the manufacturers of the kit. A further BFS will be produced for the deep mine · There have been rumours in the market of an upcoming fundraising first in May then July to coincide with the BFS and the start of construction. This rumour was false. Many holders took their profits in readiness for the fundraising discount. · When the new tax plans were announced all ASX miners were sold off without discrimination between those affected and those like DME that were not. The BFS will now be published in August after being presented to the board in July. There will be no fund raising until after the BFS probably late this year. The company has about A$40million cash to fund continued exploration. Construction will start late 2010 aiming at production of first concentrate 12 months later. The open pit will be to 200m approx depth. Top layers of low grade ground will be stripped and left for processing at the end of mine life. Work will be planned to dig higher grade ore early. Mineralisation to 600m below surface. Take off agreement with Transamine for mine concentrate, they have taken an 8% holding. No fixed amounts and spot prices to be paid. Exploration:- Budgets are being worked on currently for another two diamond drilling teams. Water: deep aquifers discovered and certified by SRK that will give 2x-required volume. Water is saline so will not rob local communities who are drawing water from shallow sweet sources. Power: Diesel generators at start of project. Options later may be the existing enhanced grid or a local coal fired power station for the area in which DME may make an investment. There are other projects in early stages and it is a tourist region. One question I asked was about the presence of Hana mining. Not surprisingly it was denied that there would be any advantage in DME taking over HANA. The preference is for DME to develop another Boseto of similar size within the licences that are already owned. In my opinion DME can probably expand to 3x its size within it's own land or extensions. GLA
27/3/2010
22:13
sagem: I would think that he needs the money like I do but I have only got a few if I wanted to sell which I dont LOOKING GOOD Monday, March 08, 2010 Libertas and Westhouse Securities bullish on Discovery Metals ahead of Boseto copper project BFS Both Libertas and Westhouse Securities issues a note on Discovery Metals (AIM&ASX: DME) in anticipation of the upcoming release of the bankable feasibility study (BFS) for its flagship Boseto copper and silver project in Botswana that will follow a positive pre-feasibility study completed in 2008. Both firms have given the miner a 'buy' rating with Westhouse upping its price target, expecting the BFS along with rising copper prices to boost the share price in the near term. Discovery's flagship Boseto project in Botswana has a JORC compliant resource of 60.4 Mt (million tonnes) at 1.4% copper and 19.5 g/t (grammes per tonne) silver, containing approximately 846 kt (kilotonnes) of copper and 38 Moz (million ounces) silver at a cut-off grade of 0.60% copper. A 2008 Pre-Feasibility Study derived an NPV (net present value) of US$115 million at US$2.38/lb copper, and US$220 million at US$3.50/lb copper, with Internal Rates of Return (IRR) of 23% and 35% respectively, achieved at a 10% real discount rate with annual throughput of 2.0 Mtpa (million tonnes per annum). Libertas initiated coverage of Discovery with a 'buy' rating and said the BFS will significantly de-risk the project as it passes through the final stages of project finance, construction and ultimate commissioning. The broker offered valuation scenarios based on a ten year discounted FCF (free cash flow) valuation model, assuming a start-up date of late 2011 with a two year ramp-up period to plateau production of 2 Mtpa and 3 Mtpa in 2013. The report estimated the total throughput over the ten year period at 22 Mt and 33 Mt with Libertas' scoping model annual production output amounting to 25,333 tonnes of copper in concentrate and 0.691 Moz of silver in concentrate at 2 Mtpa and 38,000 tonnes of copper in concentrate along with 1.04 Moz of silver in concentrate at 3 Mtpa. Assuming a primary throughput of 2 Mtpa and a base case NSR (net smelter return) copper price of US$2/lb, unit costs of US$28.0/tonne and capex (capital expenditure) of US$150 million, the report put the NPV (net present value) for 100% of the Boseto project of US$33.4 million, which goes up to US$157.4 million at a copper price of US$3/lb. A tonnage of 3 Mtpa would bring the NPV up to US$90.8 million at a copper price of US$2/lb for unit costs of US$24.0/tonne and a capital spend of US$200 million, and to US$272.8 million at the optimal NSR of US$3/lb. With Discovery's current working capital position of US$14.4 million, the sum of the parts (SOTP) valuation stands at US$47.89 and US$171.8 million for the base case scenario and US$105.3 and US$287.2 million for the optimal scenario. The SOTP per share amounted to US$0.21 and US$0.74 for the base case and US$0.46 and US$1.24 for the optimal scenario, which Libertas converted into SOTP per share to share price ratio of between 0.32 and 1.89 respectively. The target price for the company currently stands at 62 pence compared to the market value of 44 pence. Research firm Westhouse Securities also kept its bullish stance on the company, retaining its 'buy' recommendation for the stock and upping its target price from 35.25 pence to 55.50 pence, expecting the current market valuation to appreciate with the release of the BFS and the upcoming scoping study on the underground potential at Boseto, which are both expected in the next few weeks and will likely be followed by offtake and financing decision as the company aims to enter production in mid 2011. Westhouse noted that Discovery has benefited from rising copper prices and a stronger US dollar and revised its own copper forecasts with an increased upside, projecting a price of 7,800/tonne in 2010, which would then fall to US$5,000/tonne by 2015. The valuation assumed an operation of 2 Mt per year producing 25.6 kt (kilotonnes) of copper and 690,000 oz of silver over a ten year mine life. The research report said that the production rate and mine life could increase when Discovery enters production, noting that the company already has a plant footprint of 3 Mtpa to accommodate further expansion. Shares in Discovery have soared 79% since Westhouse's last report on the company in mid-December. Back in February, Blackswan Equities and Fox-Davies Capital both rated the mine developer as a 'buy', targeting 90 pence and 72 pence respectively. Investment bank Fairfax said Discovery offered a "rare opportunity", giving it a net present value (NPV) of US$256 million or 44 pence per share, which did not include further expansion and discoveries within the company's tenements.
11/3/2010
14:31
sagem: TAKEN FROM OZ BULLETIN BOARD AND MAKES GOOD READING ;- Libertas and Westhouse Securities bullish on Discovery Metals ahead of Boseto copper project BFS Both Libertas and Westhouse Securities issues a note on Discovery Metals (AIM&ASX: DME) in anticipation of the upcoming release of the bankable feasibility study (BFS) for its flagship Boseto copper and silver project in Botswana that will follow a positive pre-feasibility study completed in 2008. Both firms have given the miner a 'buy' rating with Westhouse upping its price target, expecting the BFS along with rising copper prices to boost the share price in the near term. Discoverys flagship Boseto project in Botswana has a JORC compliant resource of 60.4 Mt (million tonnes) at 1.4% copper and 19.5 g/t (grammes per tonne) silver, containing approximately 846 kt (kilotonnes) of copper and 38 Moz (million ounces) silver at a cut-off grade of 0.60% copper. A 2008 Pre-Feasibility Study derived an NPV (net present value) of US$115 million at US$2.38/lb copper, and US$220 million at US$3.50/lb copper, with Internal Rates of Return (IRR) of 23% and 35% respectively, achieved at a 10% real discount rate with annual throughput of 2.0 Mtpa (million tonnes per annum). Libertas initiated coverage of Discovery with a 'buy' rating and said the BFS will significantly de-risk the project as it passes through the final stages of project finance, construction and ultimate commissioning. The broker offered valuation scenarios based on a ten year discounted FCF (free cash flow) valuation model, assuming a start-up date of late 2011 with a two year ramp-up period to plateau production of 2 Mtpa and 3 Mtpa in 2013. The report estimated the total throughput over the ten year period at 22 Mt and 33 Mt with Libertas scoping model annual production output amounting to 25,333 tonnes of copper in concentrate and 0.691 Moz of silver in concentrate at 2 Mtpa and 38,000 tonnes of copper in concentrate along with 1.04 Moz of silver in concentrate at 3 Mtpa. Assuming a primary throughput of 2 Mtpa and a base case NSR (net smelter return) copper price of US$2/lb, unit costs of US$28.0/tonne and capex (capital expenditure) of US$150 million, the report put the NPV (net present value) for 100% of the Boseto project of US$33.4 million, which goes up to US$157.4 million at a copper price of US$3/lb. A tonnage of 3 Mtpa would bring the NPV up to US$90.8 million at a copper price of US$2/lb for unit costs of US$24.0/tonne and a capital spend of US$200 million, and to US$272.8 million at the optimal NSR of US$3/lb. With Discoverys current working capital position of US$14.4 million, the sum of the parts (SOTP) valuation stands at US$47.89 and US$171.8 million for the base case scenario and US$105.3 and US$287.2 million for the optimal scenario. The SOTP per share amounted to US$0.21 and US$0.74 for the base case and US$0.46 and US$1.24 for the optimal scenario, which Libertas converted into SOTP per share to share price ratio of between 0.32 and 1.89 respectively. The target price for the company currently stands at 62 pence compared to the market value of 44 pence. Research firm Westhouse Securities also kept its bullish stance on the company, retaining its 'buy' recommendation for the stock and upping its target price from 35.25 pence to 55.50 pence, expecting the current market valuation to appreciate with the release of the BFS and the upcoming scoping study on the underground potential at Boseto, which are both expected in the next few weeks and will likely be followed by offtake and financing decision as the company aims to enter production in mid 2011. Westhouse noted that Discovery has benefited from rising copper prices and a stronger US dollar and revised its own copper forecasts with an increased upside, projecting a price of 7,800/tonne in 2010, which would then fall to US$5,000/tonne by 2015. The valuation assumed an operation of 2 Mt per year producing 25.6 kt (kilotonnes) of copper and 690,000 oz of silver over a ten year mine life. The research report said that the production rate and mine life could increase when Discovery enters production, noting that the company already has a plant footprint of 3 Mtpa to accommodate further expansion. Shares in Discovery have soared 79% since Westhouses last report on the company in mid-December. Back in February, Blackswan Equities and Fox-Davies Capital both rated the mine developer as a 'buy', targeting 90 pence and 72 pence respectively. Investment bank Fairfax said Discovery offered a rare opportunity, giving it a net present value (NPV) of US$256 million or 44 pence per share, which did not include further expansion and discoveries within the companys tenements. http://www.proactiveinvestors.com.au/companies/news/5489/libertas-and-westhouse-securities-bullish-on-discovery-metals-ahead-of-boseto-copper-project-bfs-5489.html
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