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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Discov. Met | DME | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 101.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 101.50 |
| Top Posts |
|---|
Posted at 23/7/2011 14:06 by excellance reasonable drilling results this week, not fabulous grades but large scale over wide area, and they will find the "sweet spot" to concentrate on...BHP billiton copper miners to strike... we could see a major surge in copper prices next week, even if it is short lived! as for DME, they keep up the steady flow of good news, so far have not missed a target, and the management claims have never been over cooked once, and there is NO private investor froth on this or any DME/DML board which gives me confidence that even at 87p the share price is not over inflated |
Posted at 21/3/2011 14:21 by p3dr036 Chip - regarding EMED, I am divided in my opinion. I have held shares for a number of years and met Harry Anagnostaras-Adams a couple of years ago at the Master Investor Show. He impressed me then and I still feel confident that the local government in Spain [Junta de Andalucia] will eventually grant permission to re-open the old Rio Tinto Mine there. But EVENTUALLY is the key word!The problem for me is that the saga has dragged on and on and on now and I sold some shares last month as I felt then that there were better opportunities around. You probably know all this but I'm putting it down here to bolster my reasons There have been some positive developments since I sold the shares and perhaps [there's always a perhaps!] things might be getting better for EMED. There is a great deal of local pressure on the Junta to allow the re-opening, as some 400 jobs would be created in what is one of the poorest areas of Spain with very high unemployment levels. But overall there is a history of shenanigans and dodgy dealing which pre-dates EMED. The previous owners of the mine are involved in this and the story is convoluted. The story also has local political overtones and there are said to be government and political party individuals involved in this past history. EMED appear to be closer to getting permission and appear to have had their 100% ownership of the land on which the Rio Tinto mine is situated confirmed in the last few days. But they do not own all the land where the tailings dams are situated. EMED has, I understand, been trying to negotiate for years with these owners, who are said to be connected to some of the previous owners!! EMED's access to the dams has been blocked by the landowners and a court case, started by EMED, is presently on hold. If EMED cannot negotiate their way through this morass they will go to court and I understand that there is a legal solution via Compulsory Purchase. But this will inevitably take time. You ask how I rate EMED's probability of getting to production. My answer is that I think they will get there but it is unclear exactly when that may be. Slide 21 from EMED's March 2011 presentation shows a period from Q2 to Q4 2011 for "Detailed engineering, site preparations, operating licensing, commence commissioning for production in 2012". If EMED get their permission then their future profitability would be good. According to EMED there is no other current Copper Project anywhere that could be put into production for $70-100M dollars. they have the funds and the expertise. All they need is the will of the local governing authority. Bit of a sorry saga really. Do you still have my e-mail address? This was so long and off-topic [apologies to all!] that I nearly sent it you by e-mail! Cheers Peter |
Posted at 31/1/2011 17:33 by jasper2712 Maybe this news might help or at least get investors looking at copper projects. |
Posted at 23/11/2010 12:00 by spike_1 Codelco Said to Raise Copper Fee 35% for Chinese UsersBy Bloomberg News Nov. 23 (Bloomberg) -- Codelco, the world's biggest copper producer, agreed with two Chinese buyers to raise the surcharge on sales by 35 percent next year, according to two industry officials involved in the negotiations. The fee, added to the price of metal for immediate delivery on the London Metal Exchange, will increase to $115 a metric ton from $85 this year, said the officials, who declined to be identified because the decision hasn't been made public. China is the world's largest consumer. Copper, used in cables and pipes, advanced 10 percent this year and climbed to a record $8,966 a ton in London on Nov. 11 as demand led by China outpaced supply and as investors bought commodities to protect their assets. The move by Codelco sets a benchmark and may prompt Freeport-McMoRan Copper & Gold Inc. and Pan Pacific Copper Co. to follow suit. The increase tops gains of 32 percent for Korea and 31 percent for Japan. "This falls into the higher end of our expected range," said Grace Qu, an analyst at metals advisory company CRU International Ltd. in Beijing. "Codelco seems to be very confident of next year's market," she said by phone today. Copper will lead a rally in base metals into 2011 as increased consumption cuts stockpiles and weaker currencies spur investment demand for commodities, according to Morgan Stanley. Lots more at: |
Posted at 17/11/2010 16:50 by jasper2712 Nearly 16% drop since the placement was announced . It better start going up soon or all of these sophisticated Aussie investors will be able to buy them on the open market at a better discount to the $1.05 (64p )they were being offered. |
Posted at 13/11/2010 16:20 by andrbea just noticed Boseto is copper-silver too:102.8Mt at 1.4% Cu and 17.3 g/t Ag containing 1.4Mt copper and 57 Moz silver maybe dme should focus more on the silver!!! (as those companies are attracting investors just now) |
Posted at 30/9/2010 21:13 by sagem Whatever you read about discovery metals its always good with huge potential ;-Discovery Metals* (LSE:DME) Annual results demonstrate progress at Boseto Discovery Metals is evolving rapidly as the company pushes ahead with its Boseto project to take it into production. We note the recent share price appreciation as investors become increasingly excited over the copper market as copper prices firm and the opportunity to invest in companies for copper exposure are relatively thin versus other commodities such as gold. The company is pre-revenue with the Boseto Mine due to start producing towards the end of next year and reach commercial levels during the first half of 2012. By which time we envisage copper prices firming leading to strong margins at the start of production. Bloomsbury Minerals Economics has recently completed a study that outlines a scenario where copper could hit US$10,000/t by late 2012 and 2013 as supply struggles to meet rising demand and ETF's start purchasing copper early next year. The company's annual report to June 2010 reflects total assets of A$75.4m of which A$39.34m was in cash following equity issues totalling A$44.4m. Major milestones were achieved in the year including an offtake and equity agreement with Transamine, the selection of Sedgman as EPC contractor of the project, environmental approval etc. Since the year end, progress has not abated and we look forward to final permits by the government, the securing of a debt facility, construction starting in Q4 etc. Valuation: We value the company at 104p/share based off the free cashflows of Boseto producing initially from open pit then phasing in underground development. The company plans to mill 3mtpa of ore grading 1.46% Cu leading to production of around 35-37ktpa of copper in concentrate at a cash cost ranging between 128-170c/lb. Higher costs are due to underground production which has been modelled from a scoping study produced previously. We expect more detail from a feasibility study currently in progress on the underground mine that could outline improved operating parameters. Capex for the project is expected to be in the region of US$175m of which US$100m or so is expected to be debt financed. The remainder from cash and A$48m of equity raised at 10% discount to current prices (42m shares to issue of current 302m). We have assumed that the company only applies A$25m of its current cash towards the capex. Copper prices used start at 350c/lb in 2011 and fall to 250c/lb by 2018, which is more conservative than the forward curve. We have applied the forward curve to 50% of the first 2.5 years of production as we anticipate this will be required as part of the financing agreement e.g. hedging. Conclusion: The company continues significant progress at Boseto and the significant prospective tenement package surrounding Boseto appears likely to hold additional resources to support either expanded production, longer mine life, additional standalone mining operations or all three of these. We are increasingly bullish about the fundamentals driving the copper market that could add significant further value. Fairfax acts as Nomad & Broker to Discovery Metals |
Posted at 25/5/2010 05:57 by sagem LOOKING GOODA couple of points of interest from the report below; - There remains considerable upside potential. - The company will not be subject to the proposed "Henry" windfall tax in Australia" - The long term fundamentals for the copper market are also strong which we feel will enhance value for shareholders and consequently view the company as an exciting opportunity for investors. Fairfax Note - DISCOVERY METALS PROJECT CAPACITY UPGRADE INCREASES VALUATION 24 May, 2010 @ 01:52 pm BST | By Marc Elliott DISCOVERY METALS - 24th May 2010 PROJECT CAPACITY UPGRADED TO 3MPTA LEADS VALUATION HIGHER Discovery Metals Plc Activities - Copper exploration and development in mine in Botswana Price @ close 21st May 41.75p Target Price 79p Index AIM Sector Basic Resources Ticker DME.LN Shares in issue 271m Market cap 113m Net cash (March 2010) A$34m Next event Project Update Fairfax act as Nomad & Broker Yes Discovery Metals has significantly upgraded its plans for the development of the Boseto Project in Botswana from a 2mtpa to 3mtpa ore mined operation, following findings from the BFS work and the substantially larger resource base that can clearly support the enlarged plan. As a consequence we are raising our valuation from 61p to 79p YEAR END JUNE |
Posted at 07/5/2010 12:59 by sagem OK So are we all now onto a looser un til about an another 5 years when economies MIGHT improve...I certainly dont think so as all these large stakes would never have been taken if that was the case. These large stakes are by world class investors who know hosw to invest whatever the climate now and into the future.........i A\M SURE THAT GEORGE SOROS KNOWS BESTGeorge Soros buys stake in Discovery Metals London 13 April 2010 11:37 High-profile investor George Soros has bought a 7.85% stake in Discovery Metals, it has emerged. The legendary market speculator, best known as "the man who broke the Bank of England", bought 21,237,428 ordinary shares in the junior miner after it announced last week that its resources in Botswana were much higher than previously thought. Discovery was unavailable for comment at the time of writing, but a source confirmed that Soros Fund Management.. |
Posted at 06/1/2010 03:54 by chipperfrd Botswana copper-silver district holds major promise for DiscoveryAustralian junior explorer Discovery Metals is currently working on a bankable feasibility for its very promising Boseto copper-silver project in Botswana Author: John Chombah Posted: Monday , 04 Jan 2010 GABORONE, BOTSWANA - Investors are said to be upbeat about Australian junior mining company, Discovery Metals. The company has operations in Southern Africa's diamond rich country, Botswana. Investors believe that its ongoing exploration in Botswana looks promising, and is working on what could be a major copper-silver district. Discovery Metals primary asset is Botswana's Boseto Copper Project with a total resource of 60.4 Mt grading at 1.4% copper and 19.5g/t silver. This is in the same area which is also being explored by Canada's Hana Mining which has the similarly-sized Ghanzi copper-silver project close by. Discovery also has a nickel project, south east of Boseto called Dikoloti with a current resource of 4.1Mt inferred at 0.7% nickel, 0.5% Cu and 1.2 g/t PGE. Australia based RBS Morgans said in a statement that Discovery Metals is a "strong fundamental story, going unrecognised in a buoyant copper price environment". Moving from Australia to the UK, London based Westhouse Securities said in a mining research report that, "Discovery has plenty of exploration upside with only 5% of the 1,300km of its Kalahari Copper belt licence having been explored". Discovery Metals is yet to complete the bankable feasibility study (BFS) for its Boseto copper project in March 2010. Discovery is well funded to complete the BFS by March 2010. Westhouse noted that the company has raised A$13.1m through a placement, which was completed in October 2009. This was followed by A$2.7m through a share purchase plan with approximately 20% of the company's shareholders taking the offer, said Westhouse. There is also a potential A$9 million available from the exercise of options which are priced at A$0.30 due to expire in May 2010. This provides ample cash for Discovery Metals to complete the BFS. Production is expected in 2011 at 2Mt per year for 25,600 t copper and 690,000 oz silver per year with a probability of high grade initial production to increase revenues in early years. There is also a possibility of Discovery Metals pursuing underground mining, which will increase production and the mine's life beyond the currently planned 10 years. Westhouse said that, "Due to the large high grade zones and the continuity of the ore body, Discovery believes that it will be possible to switch to underground mining below the currently planned open pits". Discovery Metals is also, according to Westhouse, highly geared to the copper price and that a 25% increase in this gives 76% increase in EPS. Last but not least, Discovery Metals has only explored 5% of the 1,300km of copper mineralisation known within its 14 tenement areas. However investors have to watch out for certain issues that could aggravate Discovery's rosy future. For one the company has not yet started production. All figures and results are a projection of what might be expected in the future. As an example, capital expenditures and operating costs on the proposed company's financials are not filly estimated until the BFS is complete. In addition grid power is not yet guaranteed which could increase operating costs, said Westhouse Securities. In addition to the Boseto project, Discovery is also pursuing the Dikoloti Nickel project near Selebi Phikwe in Botswana. The project comprises four prospecting licences covering 612 km2. Westhouse said that the project surrounds the three nickel deposits of BCL ltd and is within 45km of BCL's concentrating and smelter plant, which is the largest nickel processing facility in Africa". Dikoloti has an inferred resource of 4.1Mt at 0.7% Ni, 0.5% Cu and 1.5 g/t PGE's at a cut off of 0.5% Ni. In its research report, Westhouse said that in November 2006, Snowden consultants re-evaluated the project economics which showed that the project was economic at nickel prices above US$ 10,000/t which is well below the current nickel price of over $18,000/tonne. |
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