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DML - Discovery Metals

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I have been searching for the amazing copper stock that soros has been buying and this is it, seems like it....
the daily reckoning has been banging on about it in their newsletter but you have to subscribe to get the company name. ha!
well, with the copper action maybe DML is worth a bit of investigation.
Looks like the heat is really on this...Good solid interest and good volumes; increasing at a glance.
Basically writing this to bring to anyone's attention who has also been searching for it / might be interested in a small copper play with good interest.
cheers
 
Ah, the DR huh. I think they do that to certain stocks from time to time. I seem to recall them doing something similar with LNC. They called it the Black leaf project, mentioned it was a QLD company in Chinchilla turning coal into diesel.....set to really take off.
I think they leave enough clues so as a five minute google search gets you what you are looking for. The DML mention is the same thing.

I just wonder if they're trying to create a bit of interest, but for whos gain?

....yes I hold both LNc and DML
 
anybody have any ideas as to why DML are on a nose dive? How far do we think it will go?
 
I just think it's a bit of a correction... it ran hard from July to October and doubled in price so a correction was always on the cards. I would think it should find some support around the $1 mark from looking at the chart.
 
Cheers Eddy,

I dont know how to read charts and your reply makes me feel a little better.
 
Ding said:
anybody have any ideas as to why DML are on a nose dive? How far do we think it will go?
Click to expand...

DML has pulled back 50% of the 26/8 - 28/9 run up.(by Fibonacci)
It is currently in a wave 4 pullback, which may have finished yesterday.
Wave 3 peak can be confirmed by MACD as the cross is high in the indicator area. Should head for $1.46 +. If next cross of MACD is lower it will confirm wave 5 and then be set for another pullback.

Anybody in copper stock, PNA is doing$110 million expansion in Laos.

Cheers:
 

What do people think of the fact that DML think they've found a 'new' copper province?

Yes I hold - inherited from Gramps (bless him).
 
Trusted these guys since 2007 and haven't been disappointed once.

Quoting managing director Brad Sampson from the latest Zeta resource upgrade:

"We would like all shareholders to understand the value proposition embedded in Discovery metals above and beyond the value that can be seen in the current Development Plan, which we reagard as very much the start of things."

Have no doubt --- this copper is better than gold.
 
I like he potential in DML over and above PNA. Sensitivity on the PNA Business case return from the $100m makes me think the $100m is excessive. Maybe they are absorbing $20m in further exploration drilling within the $100m ?

Either way Charlie Aitkin loves both PNA and DML .
 
I have decided to lock DML into the Super Fund and close my eyes on it for 24 months. I see it as a mid term growth stock. As a minimum I think it will maintain its value.
 
trading halt today, see announcement (summary) of equity raising,
BIG ANCHOR!

This will explain the run down lately in the SP. now the action begins ? thats a lot of equity raised.
 
actually see page 11 of the ann. it has a good graph showing production costs vs. tonnes mined.
actually makes indophil IRN look quite attractive!
Could I postulate that as the rights issue begins trading "Issue shares begin normal trading (T+3) December" 13th dec then I guess anyone thinking about getting in may wait until the last bit of loose stock gets thrown around about this date.... DML is made to sound very attractive and may well be; will be interesting to watch as this development goes forward, sounds like they sure won't be wasting any time!!
 
I was just thinking the other day that these guys were going to have to raise some cash sooner or later... and bingo - institutional placement and rights issue to raise 142 mil announced!

Should be a good opportunity to get some cheaper stock...
 
I have also added these to my SMSF portfolio - They seem to have good potential over the medium to longer term.

On the look out for similar small to medium companies over a broad range of sectors. Small sector requires so much more research and time to find potential buys.
 
Some crazy buying is happening today at huge volume with no apparent news, (seems like a speeding ticket to follow soon) anyone knows what's happening here?
 
Interesting I have these in my SMSF and the rights issue which closes this Thursday is @ 1.05
 
SilverRanger said:
Some crazy buying is happening today at huge volume with no apparent news, (seems like a speeding ticket to follow soon) anyone knows what's happening here?
Click to expand...

I believe it's called "Jack the price up so the rights issue will close successfully"...very useful strategy.
 
skc said:
I believe it's called "Jack the price up so the rights issue will close successfully"...very useful strategy.
Click to expand...

Does this then mean that the $1.05 shares will get sold off for what they can above $1.05 causing the sp in general to come down to "sensible" levels?
 
teabagger said:
Does this then mean that the $1.05 shares will get sold off for what they can above $1.05 causing the sp in general to come down to "sensible" levels?
Click to expand...


A share price above the issue price will certainly prompt eligible holders to take up their rights, but it doesn't necessarily mean that those same people will sell for quick profits when they get their share.

I hope they don't anyway because that's exactly what I will be doing

DML has been in a pretty good uptrend. But I suppose it all depends on the copper price and risk on/off situation around the world.
 

Got lucky last week picking up a small parcel last week at below offer price and offloaded them on Monday. Now just waiting for skc and others to dump their new shares to get in again (hopefully near the offer price)
 
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