Discov. Met Share Discussion Threads

[sagem] 01/5/2010 09:00

DONT FORGET THIS STAKE IN DME

George 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...

[chipperfrd] 28/4/2010 09:50

Peter - Lol!

I rather think it will be 'the gift that keeps on giving'.
Chip

[p3dr036] 28/4/2010 09:46

That's another fine share you've got me into, chip!!
Peter

[chipperfrd] 28/4/2010 08:46

SAGEM,

Suggest you look at the wider markets for a clue!

[sagem] 28/4/2010 08:28

No increase in the share price which is NOT better with four sellers already so whats going wrong with this company

[johnrxx99] 28/4/2010 08:12

Latest news, just gets better and better.

[chipperfrd] 28/4/2010 01:32

Another set of positive U/G drill results:


.. and it looks like the DFS results will appear in May.

[chipperfrd] 27/4/2010 13:34

We should be hearing the outcome of the BFS this week.

[sagem] 26/4/2010 22:11

FOR INTEREST

Blackswan Equities comments on Discovery Metals next phase of exploration
Thursday 15 Apr, 2010Blackswan Equities commented on the potential of the company's next phase of exploration. According to the Perth based stockbroker, Discovery's new exploration expertise could unlock a second 'Boseto sized' resource on the Kalahari copper belt.

Discovery's wholly owned Boseto copper project is located on the Kalahari copper belt in North West Botswana, approximately 80 kilometers south west of the town of Maun within the district of Ngamiland.

The stockbroker highlighted that Discovery recently appointed a new exploration geologist and with more expertise, they believed that the company will focus on the identification of new prospects and pin pointing higher grades and thicker zones.

Blackswan noted that Discovery currently has a 10,100 square kilometers exploration package, consisting of 14 tenements along the Kalahari copper belt and that the company and its neighbor Hana Mining are quickly demonstrating the significant potential of the belt.

According to the broker note, the two companies now have a combined resource base of approximately 2.5 million tonnes of contained copper 163.2 million tonnes grading 1.5%.

Blackswan stated that Discovery is well aware of the need for increasing value from its regional exploration and it is planned that two additional RC rigs will start testing many regional prospects.

In terms of the development of the flagship Boseto mine, Blackswan said that its recent site visit re affirmed its confidence in the project and it is comfortable about the project's resource and development progress. In particular the broker noted the project's resource growth and the positive scoping study regarding an underground mining operation which would follow the open pit operation.

(Sourced from www.proactiveinvestors.com

[raymund] 26/4/2010 18:50

Most perverse, no recorded buys today at all yet share price only fell 0.5p. Bankable feasibility due any day now which should move share price noth again.

[andrbea] 26/4/2010 14:01

We retain the Buy recommendation with an unchanged target price of £0.65 (A$1.07)/share. At this point in time, we are waiting the results of the BFS before we upgrade the model. However, it is fair to say that the economies of scale associated with a 3Mt pa plant would be expected to give a significantly higher target price, all other factors remaining constant."

april 20

[jonny flame] 24/4/2010 07:48

China sees increase in refined copper imports

Apr. 23, 2010 (China Knowledge) - China's imports of refined copper rose 13% year on year to 337,125 tons in March, according to the statistics released by the General Administration of Customs today.

China imported 53% more refined copper in March than in February, when it imported 220,520 tons.

In the first three months of this year, the country's refined copper imports grew slightly 0.8% from the same period in 2009 to 754,994 tons.

The increase in imports indicates strong market demand for the metal in the country. In 2009, the country consumed 5.94 million tons of copper, 20% more than in the previous year, according to an earlier report from China Knowledge.

China produced 385,000 million tons of copper in March, 11% more than last March, according to statistics recently released by the National Bureau of Statistics. The country's copper output in the first quarter of this year was 1.05 million tons, up 13% from the same period of last year.

Copper is the main raw material for the manufacture of power transmission cables.

[jonny flame] 23/4/2010 17:44

April 21, 2010
Inferred Copper Resource Tonnage Estimate for Banana Zone Increases by 80.7%, with Cu Grade Of 1.47%; Total Ghanzi Project Contained Cu Estimate - 3.9 B Lbs, Plus Contained Ag Estimate -- 62.1 M Oz

[hamish123] 23/4/2010 16:12

Just bought in on back of some nice press.Showed as a sell.But a hefty 1.2 million has just just shown up as unknown.Good luck all it looks really interesting.

[scottishfield] 23/4/2010 08:43

yes I bought (more) yesterday.

[raymund] 22/4/2010 21:43

A sea of red today, seems surreal with more positive news expected shortly. Still, little change to share price Very quiet on this thread, anyone else been stocking up on DME like I have? Don't forget, with ASX listing, you can pop DME into an ISA.

[sagem] 18/4/2010 19:43

INVESTORS CHRONICLE

Botswana mining company Discovery Metals is releasing the final feasibility study in late April for a concentrating plant that could support up to 3m tonnes per year capacity. Assuming a 20 year mine life of 2m tonnes per year, Broker Westhouse has valued the shares at 79p, but if production were to increase to 3m tonnes, the value would be 114p. Price to earnings ratio is 3 times for first full year of production and shares are likely to be re-rated. Buy.

Shares Magazine

AIM-listed and Botswana-based miner Discovery Metals will shortly publish a feasibility study on its Boseto copper project, laying out capital requirements for a two million tonnes per year operation. Management have indicated they will look at three million tonnes prompting analysts to say that six million might be considered. Trading at 54.68p, buy.

[andrbea] 16/4/2010 15:02

George 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...

[raymund] 16/4/2010 14:55

Just made another purchase but has been shown as a SELL! 13,360 shares at time 14:32:36 at 55.5p. I had asked for spread from 57p to be tightened so was well pleased! So surprised to see my purchase wrongly identified as a SELL that I phoned broker back to double check I really had made a BUY and this was confirmed. Wonder how often this sort of recording error occurs?

[euclid5] 16/4/2010 14:04

we got a full page mention in Investors chro today plus Shares magazine

[jonny flame] 16/4/2010 11:37

Largest copper producer Codelco bullish on China demand2010-04-12 by Proactiveinvestors

World copper consumption is expected to grow 5.4 per cent this year, led by China which is expected to buy nearly 40 per cent of global output, industry experts told the World Copper Conference on Wednesday.....

[chipperfrd] 13/4/2010 13:34

Copper consumption in China expected to grow 14%!

[euclid5] 12/4/2010 22:17

Blacswan's latest report also shows Sorus FM having bought RFC's 21 mill shs - but why have RFC sold out - however Sorus FM's have bought in & that's pretty good news for DME - they also bought into AUL

suprissed with Black swan's report today saying current share price equals the NPV/ $ of about 1.20 aud - very conservative