DML - Discovery Metals

[rafsanjani]

There isn't any thread about this one yet so I thought I'd start it up.
Developing copper and nickel projects in Botswana. Just listing on AIM. Already listed in Botswana.

I like that it's Africa and it's not uranium but rather a healthy base metal devlopment story -- and with some change in management recently it seems like they are quite determined to actually go ahead with developing their assets towards production.

A fairly recent analysis that might have helped spur some interest lately
http://www.stateone.com.au/market/pd...SOS_%20DML.pdf

Been in it since the Botswana government took a piece a while back - and will stay in it for long, hopefully.

[sampson]

I'm in it too - I like the names in their top 20 shareholders release. Definitely a relief to get into something that isn't Uranium based. Holding long term.

[moneymajix]

Ann. 30 August
Early positive metallurgical results on
Maun Copper Project in Botswana


Ann today.

SHARE PRICE: A$0.365 SHARES: 95.9M Market Cap: A$34.9M

Bio-Ox metallurgical test enters final phase
for Dikoloti Nickel Project in Botswana

Metallurgical tests based on oxidation heap leaching of samples of nickel-copper sulphide
mineralisation from Discovery Metals Limited (ASXML) Dikoloti Nickel Project, in northeast
Botswana, are progressing to their final phase of testing following positive initial tests. Bio oxidation
(Bio-Ox) processing has shown the most promising results to date of a range of processing
techniques being trialled as part of an ongoing scoping study of Dikoloti. The project work aims to
define a cost effective method for processing Dikoloti’s nickel mineralisation.

Metallurgical Test Work Highlights

• Initial tests on the Dikoloti nickel sulphide mineralisation indicated that high nickel extractions
could potentially be achieved using a bacterial leaching process;
• A column test, simulating the heap-leach bacterial process, has achieved 50% nickel
extraction to date with the nickel extraction now accelerating rapidly, suggesting that a final
high nickel extraction value could be obtained at the conclusion of the test.
Discovery Metals’ Managing Director, Mr Jeremy Read, said that due to its fine grained nature, the
Dikoloti nickel mineralisation presented some challenges for conventional processing and as a
consequence, alternative methods of processing the nickel mineralisation are being investigated.
“The first bacterial process test we undertook on the Dikoloti nickel mineralisation was a stirred
reactor test which showed that it should be possible to achieve high nickel extractions using a biooxidation
process, as the reactor test achieved 97% nickel extraction,” Mr Read said.
“Following the successful reactor test, we moved to a 2m column test which simulates the actual
processes in a heap leach environment,” he said.
“The column test has highlighted several issues relating to the release of iron into solution which has
been slowing the nickel extraction. In recent days, however, progress has been made on controlling
the iron and the rate of nickel extraction is now increasing rapidly. We are optimistic of a successful
column test.


Further information on the Company is available on its website: www.discoverymetals.com.au

[moneymajix]

Interview on Boardroom Radio today at 2.30pm


http://www.brr.com.au/DML/discovery-metals-limited-


Current price 37c, up half a cent.

[rafsanjani]

Not very surprising that Discovery needed to finance developing their assets --- but being able to pull it off at current market shows nice support for DML:s copper project in Botswana.

Discovery Metals in Landmark AUD$11.4M Capital Raising
http://www.asx.com.au/asx/statistics...idsID=00760008

[Trader52]

Any ideas why this one has dived lately. It seemed to be firming up and all the signs on its African project were good. I haven't heard of any problems.

[crisstoff]

I think with the lack of liquidity it has fallen on relatively low volumes. I personally like the future prospects for DML, but it is off the radar of most investors. With the upcoming revised JORC for Zeta, plus further drilling of Plutus and the nearby Quinious Prospect, it should start to look even better. Some recents assays at up to 2.3%.

I think allot is dependent on the market at the moment

Fox Davies have a target of $1.45 - http://www.fox-davies.com/Reports/20...anuary2007.pdf

Would be interested in your comments.

[crisstoff]

Todays Presentation looks good. I particlulary like page 13 showing the large amount of historic data which DML has avaliable.

Also noticed that Healy is still increasing his holding - up to 6.2% from 5.8%.

Regarding Quirinus, it is looking promising - 4m @ 1.7% Cu and this is after only 3 RC holes - it will only get better imo.

At this stage it looks like having a 6k strike, potentially another 14.5Mt - 27.1MT like Plutus or Zeta. Im expecting good news flow over the next couple of months, especially looking forward to the PFS


But the best comment in todays ann. was by the MD -

“We believe that we are exploring in an emerging and significant copper province”, he said.

[crisstoff]

Good to see DML getting this article on Kitco.


Botswana: Discovery Confirms More Copper Finds

Mmegi/The Reporter (Gaborone)

10 June 2008
Posted to the web 10 June 2008


Discovery Metals has confirmed the presence of potential economic mineralisation from the first three exploration drill holes into its Quirinus prospect covering over 600 metres of this anomaly that has now been drill tested.

The Quirinus prospect is located 15 kilometres from the current mineral resources at Zeta, Plutus and Petra in northwest Botswana.


The prospect remains open along strike to both the northeast and southwest and at depth.

These three holes were all drilled by the reverse circulation method to a maximum down hole depth of 90 metres.

Previous studies of the nearby Zeta, Plutus and Petra inferred mineral resources have shown that holes drilled by the reverse circulation method can underestimate the copper grade of the liberalisation.

The company, which is listed on the BSE, ASX and AIM, said surface geochemical sampling has previously defined a 3 300-metre long copper anomaly at Quirinus.

Historic geochemical results suggest the anomaly in this portion of the Quirinus prospect could extend to greater than 6 000 metres-along strike. A regional soil geochemical survey is being undertaken in this area to better define the lateral extents of this anomaly.

A diamond-drilling programme similar to those used to define the Zeta, Plutus and Petra Inferred Mineral resources is also underway at Quirinus to define any potential mineral resource.

Said the Managing Director Discovery Metals, Brad Sampson: "To-date we have been drilling in areas which will allow us to fast-track the development of a significant copper mine at Zeta, Plutus and Petra.

"We have now successfully taken the knowledge and experience gained during this work into our regional exploration programme and have already identified another very prospective green field area at Quirinus.

"We believe that these results reinforce the potential for finding further mineralisation within Discovery Metals' entire tenement package in north-west Botswana."

Discovery Metals is focused on developing its copper and nickel projects in northern Botswana.

Its major assets are its Copper Project in the north-west and the Dikoloti Nickel Project in the north-east of the country."We believe that we are exploring in an emerging and significant copper province," Sampson said.

The company commenced a pre-feasibility study on the copper project in August 2007 and aims to complete the pre-feasibility study by mid-2008.

The Dikoloti Nickel Project comprises four prospecting licences covering 610km sq surrounding the three nickel deposits of BCL Mine in Selebi-Phikwe.



http://allafrica.com/stories/200806101157.html

[crisstoff]

Good to see DML increasing their land holdings. With the historic information from BHP and the knowledge they already have of the mineralisation in the areas this can only be positive.


DISCOVERY METALS NEARLY DOUBLES TENEMENTS IN BOTSWANA
• Discovery Metals has secured seven (7) additional 100%-owned prospecting licences in
Botswana covering 5,700 square kilometres.
• The new tenements are an extension of the Company’s existing 6,400 square kilometre 100%-
owned tenements in the Kalahari Copper Belt in north-west Botswana.
• These tenements have potential to add to the current resource base of 46.1mt @ 1.3% Copper.
Grant of New Licences
Discovery Metals Limited (ASX/BSE:”DML”, AIM:”DME”) has received formal approval from the Botswana
Department of Geological Survey for an additional seven (7) prospecting licences.
The additional area covers 5,700 square kilometres stretching as a continuation from the western boundary
of the Company’s current copper-silver tenements across to the Namibian border. (Figure 1)
An initial assessment of the seven new tenements indicates they have the potential to contain
approximately 600 strike kilometres of mineralisation of a similar style to that found in the Company’s
current Zeta, Plutus and Petra Inferred Mineral resources.
Managing Director Brad Sampson stated, “Securing these tenements provides Discovery Metals control
over a substantial portion of the Kalahari Copper Belt, which is emerging as a new copper province. We
are excited to be the driving force in this significant regional copper play.”
“Discovery Metals already has an Inferred Mineral Resource of 46.1 million tonnes at 1.3% copper. We
estimate that this mineral resource has been identified from only the first 5% of the favourable geological
horizon tested to date. This testing has only been within the first of our existing seven tenements.
Mineralisation of a similar style has recently been encountered in the first drill holes from our second
tenement to be explored at the Quirinus prospect.”
“Our geological model has provided a “near 100%” success rate for our exploration and resource drilling
program to date and we have great confidence in the exploration potential throughout all Discovery Metals
tenements in the Kalahari Copper Belt.”
“We have secured the right to a further 600 strike kilometres of the favourable geological setting, adding to
the 700 strike kilometres already held,” he said.
Exploration
Historic work in relation to the new licences included a regional 5 to10 kilometre spaced geochemical soil
sampling survey completed by BHP in the 1990’s. Interpretation of this historical information in
conjunction with the regional aeromagnetic dataset, suggests that the copper and silver mineralisation
discovered in the Discovery Metals current tenement area extends much further to the southwest.
The aeromagnetic dataset when coupled with the Discovery Metals geological model indicates that copper
and silver mineralisation may continue for hundreds of strike kilometres, as it is repeated many times by the
tight folding of mineralised structures throughout the region.
Over the next year, Discovery Metals plans to accelerate ground exploration and follow-up drilling
programmes encompassing all of its expanded tenements.

http://www.discoverymetals.com.au/re...0000000204.pdf

[crisstoff]

Fat Prophets put out an Initial BUY around 52.5c on the 18 June on Discovery Metals.

Should be an interesting few months coming up with an updated JORC and PFS due soon, plus the ongoing drilling.

[crisstoff]

Another good announcement from DML.

They are certainly progressing and getting consistent results, infact imo some of the results are getting better. Some good grades in the announcements - plenty around 2% Cu and even 0.69 m @ 6.11% Cu & 43.48 g/t Ag.

Good to note they hope to have the pre-feasibility-study out this month.

They have only tested 3% of prospective areas and have a very good hit rate for striking mineralisation - from memory around 99%.

Its obviously running under the radar which is fine by me as I am slowly accumulating. All this for a MC of $58M and approx $6M cash.

http://www.discoverymetals.com.au/re...0000000205.pdf

[Boggo]

I am surprised that there hasn't been more discussion on here about this stock.

Seems to be quietly climbing away with increasing interest.

(disc. - I do hold)

[toastpaint]

I'm considering buying in. They're sending me out a copy of Reports, etc today.

I'm a bit of a n00b, but I'm assuming the small price dive is due to the new share issue?

Cheers,

Jack

[eddyeagle]

I am surprised that there hasn't been more discussion on here about this stock.

Seems to be quietly climbing away with increasing interest.

(disc. - I do hold)

I'm surprised too. It's been tipped by a couple of tip sheets recently, and is up around 25% since the start of the year, hitting all time highs today.

[eddyeagle]

A 21% jump today and still no interest on this forum!

They announced a massive resource upgrade at Boseto and it looks like Citigroup have bought in too.

[Apples]

Fantastic day.
What was the deal with the 21 Million odd shares prior to open this morning?
I was waiting for the feasability and they mentioned in the announcement that it should be released before the end of month. The resource upgrade was a pleasant surprise though.

[eddyeagle]

This thread very quiet given DML has jumped from 60c to 97.5 in the space of about 6 weeks! Trading at all time highs at the moment...

BFS just around the corner alledgedly...

[Grannymoney]

thought you guys may find this useful

wish id bought in at .72c
George Soros sent the price up back in april....
everything seems to be on track.........still up to 1.50c is acceptable

[Grannymoney]

now @ 1.31 the chinese whispers are out on this one........
up 40%for september and still going....