DGR - D'Aguilar Gold (Molybdenum)

[Mothman]

Have a small holding in this one. Moly is the next big thing apparently;) D'Aguilar have a Molybdenum project with NPV of $155M. Market cap is approx $35M.

Have a look at the recent performance of this one and also have a look at Moly Mines (MOL).

Anyone else in?

[denpal]

Yep, I bought a couple of holdings recently at 16c just for the two upcoming spinoffs. Nice bonus to be up +50% in the meantime!!!

:D

[shasta]

Yep, I bought a couple of holdings recently at 16c just for the two upcoming spinoffs. Nice bonus to be up +50% in the meantime!!!

:D

DGR - Another resource mining company much like MLM, with 100% projects & listed investments worth more than its market cap

Market cap @ $0.105 = ~$33m

Main holdings,: ASX:MET 48% worth ~$14m, LSE:AIM:SOLG 15.6% worth ~ $30m, ASX:ANW worth ~$11m = $55m & there's plenty more!

Most recent presentation

http://www.daguilar.com.au/documents/2010.06.11-DGR%20Gold%20Coast%20Resources%20Presentation.pdf

Recent Article: (Highlights value of listed investments, & projects to be spun out)

http://www.abnnewswire.net/press/en/63797/Article

Seems to be a very pro-active company keen on unlocking value by spining out projects into separate company's to IPO

MD & Chairman both ex Arrow Energy

Disc: Nil, on close watch

[Huang Chung]

Not sure you're familiar with Gympie in South East Qld Shasta, but D'Aguilar have an industrial shed on the main road, where I think they keep a lot of their core and base their exploration from.

I know they were carrying out a program in SE Qld, but not sure if that is still a focus of the company.

As an aside, Newcrest have a office/light industrial building in the Brisbane suburb of Albion, just a couple of k's from where I live. Not really sure why it's there either. A guess would be that it is linked to their Cracow Operation (JV with Catalpa)

[shasta]

Not sure you're familiar with Gympie in South East Qld Shasta, but D'Aguilar have an industrial shed on the main road, where I think they keep a lot of their core and base their exploration from.

I know they were carrying out a program in SE Qld, but not sure if that is still a focus of the company.

As an aside, Newcrest have a office/light industrial building in the Brisbane suburb of Albion, just a couple of k's from where I live. Not really sure why it's there either. A guess would be that it is linked to their Cracow Operation (JV with Catalpa)

Ive been to Brisbane & the Gold Coast, thats all i know about Queensland, but MET (Mt Isa Metals 48% owned), was spun out of DGR, perhaps thats why they have the building there

[shasta]

Ive been to Brisbane & the Gold Coast, thats all i know about Queensland, but MET (Mt Isa Metals 48% owned), was spun out of DGR, perhaps thats why they have the building there

Up 1.6c to 11.5c today (+16.16%) on 2.2m turnover

In the weekend i'll complete the spreadsheet on DGR with all the listed investments & work out the discount as per the MLM thread.

Haven't seen an undervalued company this heavily discounted in a long time

[steve fleming]

Up 1.6c to 11.5c today (+16.16%) on 2.2m turnover

In the weekend i'll complete the spreadsheet on DGR with all the listed investments & work out the discount as per the MLM thread.

Haven't seen an undervalued company this heavily discounted in a long time

Interesting Shasta - cheap exposure to some interesting stocks.

Can't believe it was 5c just a month or so ago!

Look forward to seeing the updated NTA and discount.

[shasta]

Interesting Shasta - cheap exposure to some interesting stocks.

Can't believe it was 5c just a month or so ago!

Look forward to seeing the updated NTA and discount.

DGR's market cap @ $0.12 = $38.6m (It's had a great run from 5c, due to its Solomon Gold investment)

DGR's cash & convertible notes est @ $A2.6m

EV before Listed Investments = $36m

Listed Investments:

15.6% of AIM:SOLG - Solomon Gold worth $A22.2m - Has Gold exploration projects in Qld & Solomon Islands.
48.2% ASX:MET - Mt Isa Metals worth $A16.8m - Has Gold & Copper exploration projects in Qld & Burkina Faso
53.5% ASX:ANW - AusNiCo (IPO* 21/10/10) worth $A11.8m - Nickel Explorer, with exposure to Au, Ag, Cu, Co & PGM's in Qld
23.0% TSX:CTR - Coltstar Ventures worth $A5.6m - Gold exploration in Italy

Total value of Listed Investments = $A56.4m + est cash $2.6m = $59m/322m shares

NTA = $0.18

Discount to NTA = 34%

* IPO is to raise $4m cash, issuing 20m shares @ $0.20

Other Assets in the DGR pipeline to be IPO'd during 2010 (dependent on market conditions)

60.0% of Navaho Gold - Gold explorer in Qld & Nevada (USA) = worth $??? (maybe $5m?)
100% Barlyne Mining - Molybdenum, Cooper & Gold explorer in QLD = worth $??? (maybe $5m?)
100% Anduramba Molybdenum** - Molybdenum & Copper explorer in QLD = worth $??? (maybe 20 - 50m?)

** Anduramba Molybdenum is DGR's most advanced project with an inferred & indicated JORC resource of 31.6MT Mo @ 0.06%

For more info on any of the projects above visit - http://www.daguilar.com.au/

[shasta]

DGR's market cap @ $0.12 = $38.6m (It's had a great run from 5c, due to its Solomon Gold investment)

DGR's cash & convertible notes est @ $A2.6m

EV before Listed Investments = $36m

Listed Investments:

15.6% of AIM:SOLG - Solomon Gold worth $A22.2m - Has Gold exploration projects in Qld & Solomon Islands.
48.2% ASX:MET - Mt Isa Metals worth $A16.8m - Has Gold & Copper exploration projects in Qld & Burkina Faso
53.5% ASX:ANW - AusNiCo (IPO* 21/10/10) worth $A11.8m - Nickel Explorer, with exposure to Au, Ag, Cu, Co & PGM's in Qld
23.0% TSX:CTR - Coltstar Ventures worth $A5.6m - Gold exploration in Italy

Total value of Listed Investments = $A56.4m + est cash $2.6m = $59m/322m shares

NTA = $0.18

Discount to NTA = 34%

* IPO is to raise $4m cash, issuing 20m shares @ $0.20

Other Assets in the DGR pipeline to be IPO'd during 2010 (dependent on market conditions)

60.0% of Navaho Gold - Gold explorer in Qld & Nevada (USA) = worth $??? (maybe $5m?)
100% Barlyne Mining - Molybdenum, Cooper & Gold explorer in QLD = worth $??? (maybe $5m?)
100% Anduramba Molybdenum** - Molybdenum & Copper explorer in QLD = worth $??? (maybe 20 - 50m?)

** Anduramba Molybdenum is DGR's most advanced project with an inferred & indicated JORC resource of 31.6MT Mo @ 0.06%

For more info on any of the projects above visit - http://www.daguilar.com.au/

DGR up 4.5c to 16.5c (+37.5%) today on the back of there announcement from Armour Energy (an energy play)

DGR have referred to an energy subsidiary before, but this is the first time i've heard Armour Energy mentioned, yet another project/company to be spun out & IPO'd (circa Feb 11)

http://www.asx.com.au/asxpdf/20101011/pdf/31t1433kmsgy8k.pdf

40 TCF Shale gas potential?

Armour Energy IPO is probably worth another $A5m minimum to DGR?

That brings the number of companies/projects to be spun out to 4, which i believe the total value will be worth between $A25 - 50m to DGR.

It's current listed investments are alrerady worth more than its market cap, & these spin off provise even more upside

[steve fleming]

DGR up 4.5c to 16.5c (+37.5%) today on the back of there announcement from Armour Energy (an energy play)

DGR have referred to an energy subsidiary before, but this is the first time i've heard Armour Energy mentioned, yet another project/company to be spun out & IPO'd (circa Feb 11)

http://www.asx.com.au/asxpdf/20101011/pdf/31t1433kmsgy8k.pdf

40 TCF Shale gas potential?

Armour Energy IPO is probably worth another $A5m minimum to DGR?

That brings the number of companies/projects to be spun out to 4, which i believe the total value will be worth between $A25 - 50m to DGR.

It's current listed investments are alrerady worth more than its market cap, & these spin off provise even more upside

Cheers for that Shasta....looks like a really interesting play.

I assume DGR shareholders receive priority entitlements to the spin-offs?

Looks like the market is catching onto it now though - with a big rise today.

[shasta]

Cheers for that Shasta....looks like a really interesting play.

I assume DGR shareholders receive priority entitlements to the spin-offs?

Looks like the market is catching onto it now though - with a big rise today.

DGR - AusNiCo IPO closes oversubscribed

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=224815

Yup Steve, DGR shareholders always get priority in the spin offs

Yesterdays rise, is due to the Armour Energy ann, which has never been mentioned before & Shale Gas is getting some headlines of late

[shasta]

DGR - AusNiCo IPO closes oversubscribed

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=224815

Yup Steve, DGR shareholders always get priority in the spin offs

Yesterdays rise, is due to the Armour Energy ann, which has never been mentioned before & Shale Gas is getting some headlines of late

Plenty of news flowing from DGR to keep things ticking over!

Navaho Gold secures further Gold project interests (DGR owns 60% of this project)

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=224863

With Navaho Gold in the pipeline to be IPO'd (& what better time when GOLD is hitting new highs >$US1,350/oz) nice to see more projects being added, should help secure investor interest when raising capital via the IPO (anticipated to be late 2010)

[shasta]

Plenty of news flowing from DGR to keep things ticking over!

Navaho Gold secures further Gold project interests (DGR owns 60% of this project)

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=224863

With Navaho Gold in the pipeline to be IPO'd (& what better time when GOLD is hitting new highs >$US1,350/oz) nice to see more projects being added, should help secure investor interest when raising capital via the IPO (anticipated to be late 2010)

DGR - Presentation @ Gold Coast

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=224961

Even more projects highlighted, i'll revise my spreadsheet during the weekend!

[shasta]

DGR - Presentation @ Gold Coast

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=224961

Even more projects highlighted, i'll revise my spreadsheet during the weekend!

The news flow keeps on keeping on!

DGR - Further exploration results by Solomon Gold (Rannes Gold & Silver Project, Qld)

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=225081

DGR - Market Update Coltstar Ventures Transaction

http://www.stocknessmonster.com/news-item?S=DGR&E=ASX&N=225086

DGR's 86% Ridge Exploration is under a scrip takeover by Coltstar Ventures, whereby DGR will end up with 8.6m Coltstar Venture shares or ~23% of the company, post takeover

DGR currently down 1c to 14c

[trackers]

Big trading range too today huh? Bounced between 12-15.5c

[shasta]

Big trading range too today huh? Bounced between 12-15.5c

MET - Resource Upgrade - Barbara Copper Projects

After Steve Fleming brought SMD to our attention, todays announcement from MET who have a 40% interest in the permit (& SMD 51%), might increase interest in MET.

(Nb, DGR own 52m MET shares or 38%)

[shasta]

MET - Resource Upgrade - Barbara Copper Projects

After Steve Fleming brought SMD to our attention, todays announcement from MET who have a 40% interest in the permit (& SMD 51%), might increase interest in MET.

(Nb, DGR own 52m MET shares or 38%)


DGR's 38% owned MET - Drilling in Burkina Faso

http://stocknessmonster.com/news-item?S=MET&E=ASX&N=226538

[shasta]

DGR's 38% owned MET - Drilling in Burkina Faso

http://stocknessmonster.com/news-item?S=MET&E=ASX&N=226538

DGR's 38% owned MET - Presentation

Another exciting West African Gold play (see PIR thread also)

http://stocknessmonster.com/news-item?S=MET&E=ASX&N=226854

MET has alot or permits with assay results due by end of the year, some high grades results will really spark the share price given the number of gold targets they have, & Burkina Faso has many large (1m/oz+) gold resources.

Disc: Nil held

[shasta]

DGR's 38% owned MET - Presentation

Another exciting West African Gold play (see PIR thread also)

http://stocknessmonster.com/news-item?S=MET&E=ASX&N=226854

MET has alot or permits with assay results due by end of the year, some high grades results will really spark the share price given the number of gold targets they have, & Burkina Faso has many large (1m/oz+) gold resources.

Disc: Nil held

DGR - Ridge Exploration/Coltstar transaction update

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=226944

DGR owns 86% of Ridge Exploration, an Iron Ore & Titanium explorer & will end up with approx ~23% of Coltstar post transaction

[buns]

hmm, sounds like a mini CFE.

Will look into it

[shasta]

hmm, sounds like a mini CFE.

Will look into it

Yeah i guess they are a little bit like CFE, except rather than outright sell there projects, they spin them off to be self funding & retain large stakes.

With up to 5 spin offs over the next 6 months, there will be alot of news to spark more interest in DGR

I wish they would retain say 20% stakes, & provide DGR shareholders with the balance via in specie distributions, would create more interest in DGR

Still vastly undervalued

[Huang Chung]

Sounds more like Giralia...AKA The Magic Pudding

[shasta]

Sounds more like Giralia...AKA The Magic Pudding

If DGR does half as good as GIR, look out!

GIR started the 2010 comp @ $1.46, now its around $3.00 pretty impressive

[buns]

I gave this quite a few hours last night (on dial up internet so really about 30mins of proper time), and had really made my decsion up in a few minutes. It diddn't take long for the sum of the parts to far exceed it's market cap - and with the 'parts' (projects/companies) being potentially very attractive, and in diverse sectors/geographies, with near term action, I got excited. Amazed at the acerage on some of these.

This thing will warrant more research, Ha it is actually never ending on companies like these with small unlisted projects - it just takes forever. You just about need to draw the line in the sand and say this group of projects is 'the company', any other benefits from other projects just being a bonus (assuming they are not capex intensive).

Anyway - Thanks for finding this Shasta, now the 3rd stock (after ACL, CFE) I've bought from sharetrader.

[shasta]

I gave this quite a few hours last night (on dial up internet so really about 30mins of proper time), and had really made my decsion up in a few minutes. It diddn't take long for the sum of the parts to far exceed it's market cap - and with the 'parts' (projects/companies) being potentially very attractive, and in diverse sectors/geographies, with near term action, I got excited. Amazed at the acerage on some of these.

This thing will warrant more research, Ha it is actually never ending on companies like these with small unlisted projects - it just takes forever. You just about need to draw the line in the sand and say this group of projects is 'the company', any other benefits from other projects just being a bonus (assuming they are not capex intensive).

Anyway - Thanks for finding this Shasta, now the 3rd stock (after ACL, CFE) I've bought from sharetrader.

There listed investments already easily exceed there market cap, & i worked out the unlisted spin offs could be worth around the market cap again, especially there advanced Molybdenum project, with a JORC resource to be spun out among those in the pipeline.

Definitely one of those "sum-of-the-parts" companies that is undervalued, due to liquidity, different exchange listings, & unlisted investments.

DGR follows a model of spinning out projects into separate companies, to be self funding & provide DGR shareholders priority entitlements to have direct access to the project, or indirect via DGR.

HC described DGR as a mini CFE, which i understand why he thought that, very active management, looking to unlock value

[trackers]

Problem is you need a degree to unravel the whole situation - Very deterring

They should take the new MLM approach and provide an update on the portfolio every now and again perhaps?

[shasta]

Problem is you need a degree to unravel the whole situation - Very deterring

They should take the new MLM approach and provide an update on the portfolio every now and again perhaps?

I had a spreadsheet, but lost it when my computer died, funny how when i lost the MLM spreadsheet, they came out with the same kind of analysis!

DGR will be easier to value when they have spun off the 4 or 5 projects in the current pipeline, as most of these will be ASX listings

If i get a chance i'll rehash the DGR spreadsheet & update the thread

[shasta]

I had a spreadsheet, but lost it when my computer died, funny how when i lost the MLM spreadsheet, they came out with the same kind of analysis!

DGR will be easier to value when they have spun off the 4 or 5 projects in the current pipeline, as most of these will be ASX listings

If i get a chance i'll rehash the DGR spreadsheet & update the thread

DGR - Market Update - Solomon Gold

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=227038

DGR holds 35.2m Solomon Gold shares or 12.6%

Also, note the Navaho Gold (Gold & Silver, Qld & Nevada) IPO ASX listing is progressing

[trackers]

I had a spreadsheet, but lost it when my computer died, funny how when i lost the MLM spreadsheet, they came out with the same kind of analysis!

DGR will be easier to value when they have spun off the 4 or 5 projects in the current pipeline, as most of these will be ASX listings

If i get a chance i'll rehash the DGR spreadsheet & update the thread

Haha, yeah that is a bugger!! Met is doing well lately

[Corporate]

Hey Shasta, if you did pull the spreadsheet back together I'd be very keen to see it.

Cheers,
C

[shasta]

Hey Shasta, if you did pull the spreadsheet back together I'd be very keen to see it.

Cheers,
C

Not yet, i'll put it on my to do list tomorrow, & will update the thread when done

[shasta]

Not yet, i'll put it on my to do list tomorrow, & will update the thread when done

Right spreadsheet complete

DGR Market Cap @ $0.13 = $41.8m

Cash - Est @ $4m

Listed Investments: (all converted to $A)

ASX:ANW = 59m @ $0.18 = $10.6m
ASX:MET = 52m @ $0.38 = $19.8m
TSX: CTR = 8.6m @ $C0.60 = $5.1m
AIM: SOLG = 35m @ $GBP0.3175 = $17.8m

Listed Investments = $53.3m

Unlisted Investments:

Archer Resources (Moly & Copper) due to list Q4 10/Q1 11

Includes the Anduramba project (QLD) with a JORC resource of 31.6mt @ 0.6 Mo

Assuming DGR retains a 30% interest, assumed value $3m (raising $7m by offering 70% in IPO)

Navaho Gold (Gold & Silver) due to list ~Q1 11

Includes 7 Gold projects in QLD & Nevada (USA)

Assuming DGR retains a 30%* interest, assumed value $3m (raising $7m by offering 70% in IPO)

Armour Energy (Shale Gas 40 TCP target!) due to list Q2 -Q4 11

Conventional & Unconventional Gas (Shale Gas & CSG) Northern Territory, Australia

Assuming DGR retains a 30% interest, assumed valued $3m (raising $7m by offering 70% in IPO)

*DGR owns 60% of Navaho, not 100% like the other projects

DGR "sum-of-the-parts" valuation

Cash = $4m
Listed Investments = $53.3m
Unlisted Investments = $9m (Conservative valuation & assumes DGR retains a 30% stake post IPO)

Total Assets = $66.3m/322m shares, NTA = ~20cps

Discount to NTA (20c - 13c)/20c = 35%

[shasta]

DGR Announcements

Market Update - Solomon Gold
http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=227866

MET - Maiden Drilling results - Burkina Faso Gold Project
http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=227868

I see another project to be IPO'd (Barlyne Mining), as mentioned in the bottom paragraph of the above link

Heres the extract...

In the development pipeline, D’Aguilar is also progressing plans for other subsidiaries – Archer Resources (molybdenum and copper) and Barlyne Mining (porphyry copper, gold and molybdenum) and its energy‐focused subsidiary Armour Energy.

[Huang Chung]

So Shas, does DGR solely exist as a magic pudding.....EVERYTHING gets spun out?? (Even Giralia, magic pudding extrordinaire, only spun out the non-core stuff....the hematite iron ore was definitely kept with the parent company)

Do the DGR shareholders receive in-specie distributions in each of the spun out companies, or any other benefits?

[shasta]

So Shas, does DGR solely exist as a magic pudding.....EVERYTHING gets spun out?? (Even Giralia, magic pudding extrordinaire, only spun out the non-core stuff....the hematite iron ore was definitely kept with the parent company)

Do the DGR shareholders receive in-specie distributions in each of the spun out companies, or any other benefits?

They spin all projects out with priority entitlements for DGR shareholders, no in specie distributions, as DGR retains a meaningful stake to block takeovers.

DGR is now really a "Listed Investment Company & trades at a discount, as the market ascribes no value to its unlisted projects

Basically you have two choices:

1. You buy DGR for the entitlements for the IPO's, especially good for those "stags" out there

2. You buy DGR for the indirect exposure, as the unlisted projects have there value realised on listing & DGR retains a stake to benefit, without having to initially stump up with any cash

With 4 IPO's due within the next 6 months, including the very promising "Armour Energy" a NT shale gas play targetting 4O TCF with historical gas shows - i expect DGR to get alot more media attention, especially this project (im hoping Oiler can find out whats the go for conventional/unconventional gas in the NT)

[yogi-in-oz]

:)

Hi folks,

DGR ... expecting a positive reaction to a lunar trigger, around 19012011 ..... :)

Happy New Year 2011

paul

:)

=====

[shasta]

:)

Hi folks,

DGR ... expecting a positive reaction to a lunar trigger, around 19012011 ..... :)

Happy New Year 2011

paul

:)

=====

Thanks Yogi

Being Q1 that timing could be more details about the IPO of Archer Resources, Navaho Gold, or possibly Barlyne Mining (a bit early for Armour Energy)

[Entrep]

:)

Hi folks,

DGR ... expecting a positive reaction to a lunar trigger, around 19012011 ..... :)

Happy New Year 2011

paul

:)

=====

Hi yogi, I've read plenty of your posts. Just wondering what they are based on?

Cheers

[yogi-in-oz]

Hi yogi, I've read plenty of your posts. Just wondering what they are based on?

Cheers

:)

Hi Entrep,

..... analysis of individual markets is based on Gann's astroanalysis, as described in
his books, written in the first half of last century.

happy new year

paul

:)

=====

[denpal]

A key driver of DGR's value is its stake in Solomon Gold which I see was up nearly 10% last night on the FTSE, code SOLG. This company has so much potential yet the share price has stagnated for far too long. On the 5 year weekly chart once it clears 18-20c it'll be away northwards at a trot as the basing pattern has already been broken by the move above 5c in September with round two breakout above 18-20c the next target if all goes well. I have a few of these from a long time ago.

[gazprom1]

A key driver of DGR's value is its stake in Solomon Gold which I see was up nearly 10% last night on the FTSE, code SOLG. This company has so much potential yet the share price has stagnated for far too long. On the 5 year weekly chart once it clears 18-20c it'll be away northwards at a trot as the basing pattern has already been broken by the move above 5c in September with round two breakout above 18-20c the next target if all goes well. I have a few of these from a long time ago.

I have joined you on the share registry Denpal....lots of news flow due out in the next few months re IPO's and a nice discount to assets has made it a too good of an opportunity to miss IMO. SP is relatively volatile at the moment having touched 12 a month or so ago. Happy to hold in the short to medium term.

Gazprom

[Corporate]

I have joined you on the share registry Denpal....lots of news flow due out in the next few months re IPO's and a nice discount to assets has made it a too good of an opportunity to miss IMO. SP is relatively volatile at the moment having touched 12 a month or so ago. Happy to hold in the short to medium term.

Gazprom
I'm looking to join you on this one Gaz. More to get access to some Armour shares when it is IPO'd.

[Oiler]

I'm looking to join you on this one Gaz. More to get access to come Armour shares when it is IPO'd.

I put an order in for 5000 shares on Xmas Eve just to get my foot in, have ended up with 1800 so cancelled the outstanding buy.

Like you, I am only for the IPO's (thanks Shasta) and in particular Amour Energy. Very interesting exploration area. Hard to find much info, have spent time over the holidays trolling the internet for info in that area of the NT and cant find anything of major interest. May have to check through the backdoor.:cool:

[Corporate]

. May have to check through the backdoor.:cool:

Nice work Oiler. I ended up buying WPG today instead. What's the backdoor?

[shasta]

I put an order in for 5000 shares on Xmas Eve just to get my foot in, have ended up with 1800 so cancelled the outstanding buy.

Like you, I am only for the IPO's (thanks Shasta) and in particular Amour Energy. Very interesting exploration area. Hard to find much info, have spent time over the holidays trolling the internet for info in that area of the NT and cant find anything of major interest. May have to check through the backdoor.:cool:

Im picking the Armour Energy IPO will be in Q2, so plenty of time to get in, but theres at least 2 IPO's while ya wait, with a focus on Gold/Silver & Molybdenum

Hopefully DGR announce more details about Armour Energy soon to "get the story out", it should be a popular IPO!

[gazprom1]

Been looking at MET as part of my research on DGR (as DGR own $25million or 38% of MET stock and is their biggest single listed investment) and note that inital assay results due for Yacti and Nabanga are due out mid-January.

Armour Energy Feb 1011 listing is obviously going to be delayed as no news out yet.

Gazprom

Discl: Hold

[Oiler]

Been looking at MET as part of my research on DGR (as DGR own $25million or 38% of MET stock and is their biggest single listed investment) and note that inital assay results due for Yacti and Nabanga are due out mid-January.

Armour Energy Feb 1011 listing is obviously going to be delayed as no news out yet.

Gazprom

Discl: Hold

Gaz I have my toe in DGR purely for the IPO potential, Amour Energy more like 2nd or 3rd qtr potential IPO.

Watching with interest

[shasta]

Gaz I have my toe in DGR purely for the IPO potential, Amour Energy more like 2nd or 3rd qtr potential IPO.

Watching with interest

Sounds about right Oiler, definitely 2nd half of 2011, given they have at least 2 or 3 other IPO's ahead of Armour Energy

The Armour Energy IPO interests me, else i'd be happy with the indirect interest via DGR on the other spin offs

[buns]

Its pretty obvious the market dosen't care (or know) for anything unlisted or marketable with DGR. All of these assets are sitting all around Queensland, I would have expected some sort of drop in the SP related to the extreme flooding...

Instead its sitting pretty around 16c

[yogi-in-oz]

:)

Hi folks,

DGR ... expecting significant move/news, later this week,
as multiple time cycles come into play, around the full moon,
on 19012011 ... :)

have a great week

paul

:)

=====

[Crypto Crude]

Hey Shasta,
thanks for the heads up...
Looks like an interesting stock,

Whats you opinion,
Which is the best investment vehicle...

Buy DGR,
Or buy Amour Energy IPO...?
:cool:
.^sc

[shasta]

Hey Shasta,
thanks for the heads up...
Looks like an interesting stock,

Whats you opinion,
Which is the best investment vehicle...

Buy DGR,
Or buy Amour Energy IPO...?
:cool:
.^sc

I'd buy a small holding of DGR (say $500), just to get priority entitlement for ALL there IPO's, at least 3 scheduled for this year. (refer my earlier posts)

Barylene has a JORC Molybdenum resource, Navaho has Gold & Silver projects in Qld & Nevada, & Armour Energy the shale gas play

DGR should be re-rated as it unlocks some value by listing these projects into separate self funding entities, so the market can attribute a more accurate valuation to them. Once they have IPO'd the 4 projects they are essentially a "Listed Investment Company", but i suspect they will continue this model of acquiring advanced exploration pemits & keep spinning them off

Im anxiously awaiting some more details on the Armour Energy project, that could really be a popular IPO, if the Shale Gas (targeting 40 TCF) story gets out

[Crypto Crude]

thanks shasta,
Im personally only interested in oil and gas and this shale spin off...
I was just interested in which is the preferred investment vehicle putting aside all the other spinoffs other than amour...
ie, dgr shareholders get preferential rights...
Or maybe Amour might be well over subscribed and I cant buy in the IPO...

Sure DGR have all these other things happening, but dont you think buying the underlying security is the preferred option?
IE, buying a portfolio of these IPO's... thus being able to eliminate bad stocks, or get rid of companies you dont understand......
I remember a NZ company doing spinoffs a few years back now,
it looked like a great idea,
but who wants to be given shares companies that are crap...

:cool:
.^sc

[shasta]

thanks shasta,
Im personally only interested in oil and gas and this shale spin off...
I was just interested in which is the preferred investment vehicle putting aside all the other spinoffs other than amour...
ie, dgr shareholders get preferential rights...
Or maybe Amour might be well over subscribed and I cant buy in the IPO...

Sure DGR have all these other things happening, but dont you think buying the underlying security is the preferred option?
IE, buying a portfolio of these IPO's... thus being able to eliminate bad stocks, or get rid of companies you dont understand......
I remember a NZ company doing spinoffs a few years back now,
it looked like a great idea,
but who wants to be given shares companies that are crap...

:cool:
.^sc

DGR spin them out so they become self funding (not cos they want rid off the project), & they usually retain 20% + as a cornerstone shareholding, i'd prefer them to hold just a 10% blocking stake & give there own shareholders an in specie distribution as well as priority entitlement in the IPO's, would create far more interest in DGR

[gazprom1]

:)

Hi folks,

DGR ... expecting significant move/news, later this week,
as multiple time cycles come into play, around the full moon,
on 19012011 ... :)

have a great week

paul

:)

=====

Hi Paul,

You were right on the money with the news out today...well done!!! They were expecting news out mid Jan from Nabanga and the results look promising. Looks like they may be able to further extend the strike.

Gazprom

[trackers]

Damn looks like I won't get those DGR I've been in the queue for for some time... Oh well just picked up some MET. For a maiden drilling programme, grades of that size over such a big strike thats a real goody IMO

[trackers]

Highlights (note depth):




2m @ 15.98g/t Au from 19m (in NARC003)
• 10m @ 3.00g/t Au from 25m (in NARC004)
• 8m @ 14.01g/t Au from 26m (in NARC006)
• 3m @ 24.62g/t Au from 59m (in NARC011)
• 4m @ 13.88g/t Au from 17m (in NARC017)
• 8m @ 10.11g/t Au from 34m (in NARC030)
• 3m @ 11.36g/t Au from 36m (in NARC031)

MET completed twenty one RC drill holes in the maiden drilling program for a total 2,008 drilled
metres. The drilling was designed to test the Nabanga structure along the full length of the
artisanal workings on approximate 300 metre spaced sections and to a vertical depth of generally
less than 50 metres from surface.

....

Gold mineralisation above 0.5g/t was recorded in every drill hole completed at Nabanga
confirming a significant gold mineralised system below the near‐surface artisanal workings

...

The average Nabanga drill hole intersection is 4.6m @ 5.66g/t Au (this includes all 20 drill holes
which intersected the main structure). It is apparent that higher grade zones exist within the
Nabanga structure which indicates strong potential for delineation of discrete zones of even
higher grade mineralisation.

....

Significant potential exists to extend the defined gold mineralisation at Nabanga with addition
drilling. The structure is open along strike with +1g/t Au drill intersections recorded by MET at
either end of the current drill pattern. The Nabanga structure is also open at depth and presents
considerable potential to extend the deposit through deeper drilling. Lode gold mineralisation in
greenstone provinces typically extends to significant depths.

Wish I'd found this one sooner, could be an absolute monster

[Oiler]

Highlights (note depth):

Wish I'd found this one sooner, could be an absolute monster

Trackers I hope you are right about this being a "monster" !!

I bought a few at 12cents late last year just to be able to get in on the IPO's

[Serpie]

I was reading up on DGR last night after having a yarn to Gaz. Loads of irons in the fire, and quality irons at that. Something for everyone.

[Oiler]

I was reading up on DGR last night after having a yarn to Gaz. Loads of irons in the fire, and quality irons at that. Something for eveyone.

You are not wrong Serpie!! Many Irons in the fire.......... and thanks to Shasta for alerting us to this jewel.

I only put my little toe in but wish now I had put the big one in... .:mad ;:

[shasta]

You are not wrong Serpie!! Many Irons in the fire.......... and thanks to Shasta for alerting us to this jewel.

I only put my little toe in but wish now I had put the big one in... .:mad ;:

I'll update my DGR spreadsheet over the weekend & post the NTA & discount to NTA etc

[Serpie]

Thanks for all of your work on this one Shasta. Quality research.

[gazprom1]

I'll update my DGR spreadsheet over the weekend & post the NTA & discount to NTA etc

Yeah, thanks for your research Shasta - excellent. I would not be in the stock if it wasn't for your going through the NTA/ discount which got me interested.

Thanks again.

Gaz

[shasta]

Yeah, thanks for your research Shasta - excellent. I would not be in the stock if it wasn't for your going through the NTA/ discount which got me interested.

Thanks again.

Gaz

No worries, i've had a bit of time on hands while i'm in job hunting mode & i hope everyone makes plenty in DGR, even though i dont hold any!

I have a few more gems that i'll start new threads for & share with everyone

[shasta]

No worries, i've had a bit of time on hands while i'm in job hunting mode & i hope everyone makes plenty in DGR, even though i dont hold any!

I have a few more gems that i'll start new threads for & share with everyone

DGR has doubled from when i first mentioned it (from 9.9c to 20c), the NTA & Discount to NTA has narrowed quite a bit, here's the update...

DGR Market Cap @ 20c = $64.4m

Cash est @ $3m

Listed Investments (all converted into $A)

ASX:ANW = $9.4m @ 16c
ASX:MET = $36.4m @ 70
AIM:SOLG = $17.4m @ 30.75p
TSX:CTR = $3.6m @ 41c ($C)

Total Listed Investments = $66.8m (v an EV of $61.4m)

Cash + Listed Investments = NTA 22c

Discount to NTA = ~8%

So the market has cuaght on to the listed invetsments so it seems, but all the unlisted projects have NO value attributed

IPO's to be listed during 2011:

Archer Resources - (also referred to as Barylene Mining) - the Moly/Copper advanced project with a JORC 31.6mt Mo @ 0.06%

NB, Moly price is currently ~$U16/lb & Archer Resources effectively has 41.8m/lbs so over $650m resource (hope i calculated this right, could be more!)

Navaho Gold - a Gold & Silver explorer in QLD & Nevada (USA) - with 7 projects

Armour Energy - the NT, Australia Shale Gas/Unconventional Gas project, targetting 4OTCF

These 3 IPO's could be worth anything from a minimum $A10m upwards to DGR, i really dont know what Archer Resources is worth with a large JORC resource already, & of course Armour Energy should be a popular IPO.

With these all to be fully funded for drilling programs, the news flow should mean a quick return for DGR shareholders post IPO

[trackers]

Highlights (note depth):

Wish I'd found this one sooner, could be an absolute monster

Abbbsolutely dominating

[percy]

shasta.
thank you for the update.

[shasta]

Abbbsolutely dominating

Yeah MET up another 14.5c to 84.5c, & DGR up 2c to 22c

[Oiler]

Yeah MET up another 14.5c to 84.5c, & DGR up 2c to 22c

Wish I had bought a lot more Shasta :mad ;:

Happy to have got a few at 12.5cents just to get the inside running on the IPO's:t_up:

[shasta]

Wish I had bought a lot more Shasta :mad ;:

Happy to have got a few at 12.5cents just to get the inside running on the IPO's:t_up:

DGR closed up 1c at 21c

MET closed up 20c (28.6%) to close at 90c

DGR's 52m shares in MET are now worth $46.8m, so DGR's investment went up 12m, but market cap only went up 3m!

NTA after todays acton is now 25c, EV is $64.6m v Listed Investments of $77.2m (not including cash est @ 3m)

...& then there's the 3 IPO's, am looking forward to the ASX comp Jan results, DGR & MLA have gone gangbusters

[shasta]

DGR closed up 1c at 21c

MET closed up 20c (28.6%) to close at 90c

DGR's 52m shares in MET are now worth $46.8m, so DGR's investment went up 12m, but market cap only went up 3m!

NTA after todays acton is now 25c, EV is $64.6m v Listed Investments of $77.2m (not including cash est @ 3m)

...& then there's the 3 IPO's, am looking forward to the ASX comp Jan results, DGR & MLA have gone gangbusters

MET - Investor presentation (DGR owns 38%)

http://stocknessmonster.com/news-item?S=MET&E=ASX&N=228422

After a couple of days of big gains, MET has dropped back from 90c to 75c, & DGR from 22c to 19c

http://stocknessmonster.com/news-item?S=MET&E=ASX&N=228422

Top 3 shareholders in MET control 63% of the shares

[denpal]

Great work Shasta! Yes DGR will always trade at a discount like most holding companies it's just a fact of life. JRL was the same, a glaring example of mis-pricing a couple of years back when they sold a shareholding with the cash back from the deal just about more than their MC! TRF has also had the same problem with its holdings in ROL and IFE.

I've had my DGR for about 3 years, took part in the MET float and sold them at a very slight loss from memory (August 2008 a poor time to float!). I'm now ahead a reasonable amount and will continue to hold these and see what happens. Actually Solomon Gold could be a key driver of DGR's value going forward IMO.

[trackers]

Should really do a new thread but oh well... Trading Halt for MET: Cap raising.

Will be watching that with interest, hopefully its an issue to SH'ers (though I doubt it)

[shasta]

Should really do a new thread but oh well... Trading Halt for MET: Cap raising.

Will be watching that with interest, hopefully its an issue to SH'ers (though I doubt it)

I've rattled on enough about the value in DGR, here's a nice read & wow the IPO's are priced well above what i had estimated!!!

Armour Energy to raise $50m in July...this IPO will be as hot as Texas & just as big!

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=228672

[denpal]

WRT the upcoming float of Armour Energy, note that DGR CEO Nicholas Mather is a non-executive director of BOW and was involved in both Arrow and BOW at early stages, ie acquisition and exploration . This is a very good thing. $50M is quite a decent sized float as well.

The Quarterly is very positive and it's easy to see that DGR has significant share price growth ahead if it.

[shasta]

WRT the upcoming float of Armour Energy, note that DGR CEO Nicholas Mather is a non-executive director of BOW and was involved in both Arrow and BOW at early stages, ie acquisition and exploration . This is a very good thing. $50M is quite a decent sized float as well.

The Quarterly is very positive and it's easy to see that DGR has significant share price growth ahead if it.

DGR - Solomon Gold - Exploration Update

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=228686

Great that Solomon Gold are actively drilling, up until recently it was the DGR SP driver

[shasta]

DGR - Solomon Gold - Exploration Update

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=228686

Great that Solomon Gold are actively drilling, up until recently it was the DGR SP driver

DGR - NTA & NTA Discount Update:

Market Cap @ $0.18 = $58m

Cash @ 31/12 = $4.4m

Listed Investments = $70.7m (ANW $9.4m, MET $41.3m, SOLG $16.6m, CTR $3.4m - all converted to $A)

Unlisted Investments to be IPO'd in 2011 = $56m (Projected value @ IPO - figure off quarterly ann)

Total Assets = $131.2m* (NB, Cash + Listed Assets = $75.1m)

NTA (incl unlisted projects) = 41c (or 23c w/out unlisted assets)

Discount to NTA = ~56% (or 23% w/out unlisted assets)

* Attributes no value to DGR's other unlisted projects currently in the pipeline to be IPO'd in the future

I'm surprised the market hasn't awoken to this yet, especially as the quarterly ann spells it out loud & clear!

[denpal]

The weekly chart looks like it's sitting on strong support. Clearly good times ahead for DGR. It will always have periods of under-valuation as do many holding companies.

I'd like to see the ATH at 49c from 4 years back taken out sometime later this year.

[gazprom1]

DGR - NTA & NTA Discount Update:

Market Cap @ $0.18 = $58m

Cash @ 31/12 = $4.4m

Listed Investments = $70.7m (ANW $9.4m, MET $41.3m, SOLG $16.6m, CTR $3.4m - all converted to $A)

Unlisted Investments to be IPO'd in 2011 = $56m (Projected value @ IPO - figure off quarterly ann)

Total Assets = $131.2m* (NB, Cash + Listed Assets = $75.1m)

NTA (incl unlisted projects) = 41c (or 23c w/out unlisted assets)

Discount to NTA = ~56% (or 23% w/out unlisted assets)

* Attributes no value to DGR's other unlisted projects currently in the pipeline to be IPO'd in the future

I'm surprised the market hasn't awoken to this yet, especially as the quarterly ann spells it out loud & clear!

Thanks Shasta - it is a compelling story IMO and I appreciate your posts on DGR. They mention re Armour Energy that they are in the process of raising $10 million seed capital. I wonder how they determine what "sophisticated investors" (my terminology not theirs) get the opportunity to participate?? They are looking at raising $2 million seed capital for Archer as well and have raised $1 million for Navaho. It would be great to get in at pre-IPO levels!!!

The good news is that the Navaho IPO is imminent!!!!! Then we will have Archer followed by Arnour.

Question re valuation, they state in the presentation that they have $600,000 cash as at December 2010. You have a higher figure. Is that based on other information you have ?

Thanks
Gaz

Discl: Hold

[denpal]

gazprom, I'd suggest if you want to get a crack at seed capital call the CEO and ask the question. Let us know what he says! It would be likely to be already sewn up but you won't know until you ask. Apart from that DGR holders will surely get a chance to apply for an allocation for the float.

[shasta]

Thanks Shasta - it is a compelling story IMO and I appreciate your posts on DGR. They mention re Armour Energy that they are in the process of raising $10 million seed capital. I wonder how they determine what "sophisticated investors" (my terminology not theirs) get the opportunity to participate?? They are looking at raising $2 million seed capital for Archer as well and have raised $1 million for Navaho. It would be great to get in at pre-IPO levels!!!

The good news is that the Navaho IPO is imminent!!!!! Then we will have Archer followed by Arnour.

Question re valuation, they state in the presentation that they have $600,000 cash as at December 2010. You have a higher figure. Is that based on other information you have ?

Thanks
Gaz

Discl: Hold

My figure was off the cashflow report, maybe they have used some cash in the seed capital raisings???

I'll do some more digging

[shasta]

My figure was off the cashflow report, maybe they have used some cash in the seed capital raisings???

I'll do some more digging

DGR - Further ann from MET re Burkina Faso Gold projects

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=228855

[gazprom1]

DGR - Further ann from MET re Burkina Faso Gold projects

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=228855

Shasta et al,

Good news re spin off of Navaho Gold....priority entitlement of $1 million to DGR shareholders. IPO of $9 million fully underwritten.

Question: from past experience do S/hers of DGR get a fixed amount of the priority entitlement or is it pro rata according to s/hing in DGR.

Gaz

[shasta]

Shasta et al,

Good news re spin off of Navaho Gold....priority entitlement of $1 million to DGR shareholders. IPO of $9 million fully underwritten.

Question: from past experience do S/hers of DGR get a fixed amount of the priority entitlement or is it pro rata according to s/hing in DGR.

Gaz

Good question Gaz

Am casting my eye over the prospectus on the Navaho Gold website

DGR shareholders can apply for as much as they like, minimum is 10,000 shares or $2k, but the size of the DGR pool is limited to $1m, so thats a max 5m shares available, over 10,000 shares you can go up in 5,000 increments, so if its popular it will be scaled back.

DGR will hold ~27m shares or ~30% of Navahao post IPO (valued ~$5.4m)

In addition for every 2 shares bought, a bonus option is attached (these wont be listed) with a $0.20 strike price expiring 31/12/12

[percy]

Good question Gaz

Am casting my eye over the prospectus on the Navaho Gold website

DGR shareholders can apply for as much as they like, minimum is 10,000 shares or $2k, but the size of the DGR pool is limited to $1m, so thats a max 5m shares available, over 10,000 shares you can go up in 5,000 increments, so if its popular it will be scaled back.

DGR will hold ~27m shares or ~30% of Navahao post IPO (valued ~$5.4m)

In addition for every 2 shares bought, a bonus option is attached (these wont be listed) with a $0.20 strike price expiring 31/12/12

Right I will ask the question.Is it worthwhile to apply for this issue,or just stay content with DGR holding?I am finding the number of companies with shares I should be buying far excedes the resources avaliable for such purchases.ie I have run out of doe,and will have to sell something to take these up.!!

[shasta]

Right I will ask the question.Is it worthwhile to apply for this issue,or just stay content with DGR holding?I am finding the number of companies with shares I should be buying far excedes the resources avaliable for such purchases.ie I have run out of doe,and will have to sell something to take these up.!!

Just my personal opinion Percy. for whatever its worth, is re Navaho Gold & Archer Resources, im happy with DGR as an indirect exposure.

The IPO that i want in on pre IPO, is Armour Energy & thats the 3rd IPO in line (after Navaho Gold & Archer Resources) so maybe Q3 at least 6 months away

[percy]

Just my personal opinion Percy. for whatever its worth, is re Navaho Gold & Archer Resources, im happy with DGR as an indirect exposure.

The IPO that i want in on pre IPO, is Armour Energy & thats the 3rd IPO in line (after Navaho Gold & Archer Resources) so maybe Q3 at least 6 months away

Thanks for your speedy reply.I have noted on previous posts there was one IPO that was a must.

[upside_umop]

Armour energy looks quite expensive doesn't it?
Am I right in that they are assuming an EV of around $40m for their 'applications' on the NT permits?

[shasta]

Armour energy looks quite expensive doesn't it?
Am I right in that they are assuming an EV of around $40m for their 'applications' on the NT permits?

Its a much bigger IPO than i imagined it was going to be.

DGR was involved in obtaining $10m seed capital for it, & the IPO is to raise $50m, so yeah the EV is high

The DGR quarterly had alot of guff re the Armour Energy projects, targetting a huge 40TCF, in an area with known historic gas shows

No one seems to know too much about the area, i asked Oiler who was looking into it, but with Shale Gas getting alot of headlines, the timing of the IPO couldnt be better

[gazprom1]

Just my personal opinion Percy. for whatever its worth, is re Navaho Gold & Archer Resources, im happy with DGR as an indirect exposure.

The IPO that i want in on pre IPO, is Armour Energy & thats the 3rd IPO in line (after Navaho Gold & Archer Resources) so maybe Q3 at least 6 months away

Thánks for the information Shasta. I will look at the prospectus in due course. I agree that Armour is the one to go after especially if shale remains hot. Navaho is least interesting for me so will probably just buy a few and see how it pans (excuse the pun) out. The fact that it is underwritten gives me some confidence. I am looking forward to more information on Archer...

Thanks again,
Gaz

[shasta]

Thánks for the information Shasta. I will look at the prospectus in due course. I agree that Armour is the one to go after especially if shale remains hot. Navaho is least interesting for me so will probably just buy a few and see how it pans (excuse the pun) out. The fact that it is underwritten gives me some confidence. I am looking forward to more information on Archer...

Thanks again,
Gaz

Archer Resources (previously referred to as Barylene Mining, if thats confused anyone) has a very promising Copper/Moly project with a JORC 31.6MT of Mo @ 0.06%

You dont get too many resource companiy IPO's with a JORC resource already!

I should add my preference of DGR over the IPO's of Navaho Gold (Gold/Silver) & Archer Resources (Moly/Copper) is not a reflection of those companies, i just have enough exposure to those metals elsewhere.

BTW, the Navaho Gold prospectus is 121 pages & over 11mb!

[buns]

Preso out today - nice reading.

One graph in there showing DGR's forecasted future Market Cap by tacking on value from up incoming IPO's and such.

Quite impressive. Worth a look for those cashed up CFE holders who like that kind of business. This one has lower risk, with projects in safer spots and ownership in companys which are well on the way to production.

I like the story and have been buying.

[shasta]

Preso out today - nice reading.

One graph in there showing DGR's forecated future value by tacking on value from up incoming IPO's and such.

Quite impressive. Worth a look for those cashed up CFE holders who like that kind of business. This one has lower risk, with projects in safer spots and ownership in companys which are well on the way to production.

I like the story and have been buying.

Heres the link

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=229305

Just read page 6, look at the ASX chart & relax, this is a stonewall dead cert no brainer, if there was such a thing!

[Oiler]

Heres the link

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=229305

Just read page 6, look at the ASX chart & relax, this is a stonewall dead cert no brainer, if there was such a thing!

Great find Shasta !! :t_up:

I am slowly accumulating DGR, because for me it is a basket of companies that all have great potential and DGR are maintaining sizeable chunks of these companies. Plus I get exposure to resources other than oil and gas. As you say "this is a stonewall dead cert no brainer"

I am undecided as to whether I take up any of the Navaho or Archer IPO's or just buy more DGR. The one that interests me the most is the Amour Energy IPO. Will certainly be taking all the shares I can get. :cool:

[buns]

Oiler - You are not the only one interested in the Armour Energy IPO, lots are talking about this one.

Have you spent a bit of time to run the ruler over this, possibly dig up some NPV numbers some general valuations from Armour? I have no knowledge in oil exploration what so ever, but hold good amounts of DGR just knowing the IPO estimate of Armour. Without knowing to much about Armour, I still feel the sum of the parts well exceeds DGR’s market cap, so I felt safe investing here without top notch info on one of the larger projects.

I've told myself not to touch any oil/gas plays until I build any sort of base knowledge in this field, but if DGR comes up with a super compelling offer to shareholders on the IPO I would like to at least know it is 'compelling'..

[shasta]

Oiler - You are not the only one interested in the Armour Energy IPO, lots are talking about this one.

Have you spent a bit of time to run the ruler over this, possibly dig up some NPV numbers some general valuations from Armour? I have no knowledge in oil exploration what so ever, but hold good amounts of DGR just knowing the IPO estimate of Armour. Without knowing to much about Armour, I still feel the sum of the parts well exceeds DGR’s market cap, so I felt safe investing here without top notch info on one of the larger projects.

I've told myself not to touch any oil/gas plays until I build any sort of base knowledge in this field, but if DGR comes up with a super compelling offer to shareholders on the IPO I would like to at least know it is 'compelling'..

Write it in your diaries folks, ARMOUR ENERGY IPO - Due Q3

Plenty of time to buy DGR to get entitlements & if we go off the Navaho Gold prospectus (yes i read all 121 pages, all 11mb of it!), DGR pool will be limited to "$Xm" but im picking you can apply for as many as you want, even this far out i'm confident it will be scaled back, so you dont need a large parcel of DGR.

Oiler - Unless Gold in Qld/Nevada spins your wheels, or Copper/Molybdenum in Qld, i wouldnt worry about Navaho Gold & Archer Resources IPO's, enough upside in DGR.

[drillfix]

Hi folks, sorry for the off topic post, but has there been an issue with ShareTrader over the past day or 2?

I have not been able to access the site since yesterday afternoon.

Has the site been up all this time? by viewing the posts, it must have been, but could not access from the gold coast, qld.

Anybody else in Aus or elsewhere having drama accessing it?

[shasta]

Hi folks, sorry for the off topic post, but has there been an issue with ShareTrader over the past day or 2?

I have not been able to access the site since yesterday afternoon.

Has the site been up all this time? by viewing the posts, it must have been, but could not access from the gold coast, qld.

Anybody else in Aus or elsewhere having drama accessing it?

No issues with me - its been fully functional as far as i know

[denpal]

Anyone see the dump today down to 12.5c? And now it's 17c or so again. Amazing what happens when someone just has to liquidate. And it was only on around 250,000-300,000 volume too. Just about cleaned out the whole buy side except for some orders around 6c!!

[shasta]

Anyone see the dump today down to 12.5c? And now it's 17c or so again. Amazing what happens when someone just has to liquidate. And it was only on around 250,000-300,000 volume too. Just about cleaned out the whole buy side except for some orders around 6c!!

Havent caught up with that yet, but i assume there will be a "please explain" from the ASX?

[JBmurc]

Anyone see the dump today down to 12.5c? And now it's 17c or so again. Amazing what happens when someone just has to liquidate. And it was only on around 250,000-300,000 volume too. Just about cleaned out the whole buy side except for some orders around 6c!!

same thing happened with ARV

[shasta]

DGR - Update on NTA & Discount to NTA

M Cap @ $0.155 = ~$50m

Est Cash = $4m

Listed Investments = ~$62m (ASX:ANW, ASX:MET, AIM:SOLG, TSX:CTR)

EV = $50m - $4m - $62m = (~$16m)

NTA = 20c (or 38c, if you include the $56m*)

Discount to NTA = ~24% (or 59%, if you include the $56m*)

*Note, I've used the $56m value (refer to in the Dec quarterly) for the unlisted Navaho Gold, Archer Resources, & Armour Energy, all yet to be IPO'd

Crazy how DGR isn't at least trading at NTA, given the value soon to be realised from the unlisted projects

[denpal]

I'm afraid it's the reality of holding companies, 95% of the time they trade at a discount to the sum of their parts. At least it's consistent!!

[Corporate]

I'm afraid it's the reality of holding companies, 95% of the time they trade at a discount to the sum of their parts. At least it's consistent!!

Agreed. The 24% discount to listed shares and cash doesn't surprise me. However, the yet to be IPO'd assets is another story :-)

[shasta]

I'm afraid it's the reality of holding companies, 95% of the time they trade at a discount to the sum of their parts. At least it's consistent!!

I can understand a "nominal" amount being placed on the unlisted companies, but the market is basically saying the $62m of listed securities is worth just $46m

Add the $4m cash to the "reduced" $46m & you get the current DGR Market Cap. with NO value whatsoever on the soon to be listed 3 companies, whose combined value looks to be in excess of DGR current market cap alone!

I just think DGR's business model is misunderstood by the market, same way SRL were, MLM is, CFE is, & RCO as well.

[denpal]

I can understand a "nominal" amount being placed on the unlisted companies, but the market is basically saying the $62m of listed securities is worth just $46m

Add the $4m cash to the "reduced" $46m & you get the current DGR Market Cap. with NO value whatsoever on the soon to be listed 3 companies, whose combined value looks to be in excess of DGR current market cap alone!

I just think DGR's business model is misunderstood by the market, same way SRL were, MLM is, CFE is, & RCO as well.

Exactly. Of course that's why we are in DGR and why we expect a large increase in the shareprice once the floats hit the market. In that case, the holding company discount won't matter, as it is a consistent discount.

Bit surprised to see it couldn't hold 17c support. We had the big spike down a few days ago too on light volume.

[shasta]

Exactly. Of course that's why we are in DGR and why we expect a large increase in the shareprice once the floats hit the market. In that case, the holding company discount won't matter, as it is a consistent discount.

Bit surprised to see it couldn't hold 17c support. We had the big spike down a few days ago too on light volume.

NVG - Navaho Gold - IPO prospectus

http://stocknessmonster.com/news-item?S=NVG&E=ASX&N=229985

Nice long read to see if DGR shareholders wish to apply for shares in NVG

[Corporate]

Nice - Armour seed capital raised...$10m

https://ost.asbbank.co.nz/9CDF5C53F35BF4EA3B486E868D837A4A/external/pdf/dgr/asx/230189

[shasta]

Nice - Armour seed capital raised...$10m

https://ost.asbbank.co.nz/9CDF5C53F35BF4EA3B486E868D837A4A/external/pdf/dgr/asx/230189

That link requires a log in

Heres another link

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=230189

[lakeys]

i got a few last week at 15c and thought that was good buying and today buyers at 13c !

[shasta]

i got a few last week at 15c and thought that was good buying and today buyers at 13c !

DGR closed at 14c, on relatively modest volume - given the carnage on resource stocks, was a great day to announce the Armour Energy seed raising!

DGR's market cap is still well below its listed investments, the market will eventually wake up!

[Entrep]

In at 12.5c

[Corporate]

Hey shasta, have you updated your spreadsheet recently? What is the current state of play for DGR?

[shasta]

Hey shasta, have you updated your spreadsheet recently? What is the current state of play for DGR?

I have done, will post shortly, have been rehashing the MLM spreadsheet & im the process of doing TAS as well

[shasta]

I have done, will post shortly, have been rehashing the MLM spreadsheet & im the process of doing TAS as well

Based on todays closing prices & FX rates (all listed investments are in $A)

DGR @ $0.135 = MCap $43.5m

Cash - Est = $3m

EV before Listed Investments $40.5m

Listed Investments:

MET = $30.4m
SOLG = $14.7m
ANW = $7.7m
CTR = $3.0m

Total LI = $55.8m

NTA = 18c

The last presentation gave a see thru value of DGR's unlisted projects @ $56m, i'll discount this by 50%

Adding in $28m for the unlisted projects, NTA = 27c (or 36c incl the full $56m)

The weakness in DGR of late is bizzare to say the least, with the value of the unlisted projects reportedly around the same as there listed projects

Navaho Gold is being listed with record Silver & Gold prices, so the fundamentals still all line up!

[buns]

Did anyone take part in the Navaho Gold offer?

Nice movement today - No coincidence that Shasta's post showing a raging discount (low side calc as well) the same day...?

Someone here got some DGR.

[shasta]

Did anyone take part in the Navaho Gold offer?

Nice movement today - No coincidence that Shasta's post showing a raging discount (low side calc as well) the same day...?

Someone here got some DGR.

DGR - Update on Solomon Gold

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=230744

Active drilling program fully funded by some tin pot outfit called Newmont ;)

[JBmurc]

yeah very undervalued , treated much like CFE which is till the cash is in the bank the market gives 0% chance they will grow the value of the company like a negative goodwill even though they are growing the company

[shasta]

yeah very undervalued , treated much like CFE which is till the cash is in the bank the market gives 0% chance they will grow the value of the company like a negative goodwill even though they are growing the company

I'll be updating the LOW EV List, the Negative EV list (MFC, DGR & MLM) & the healthcare list over the weekend

[shasta]

DGR: Update on NTA

Based on todays closing prices & FX rates (all listed investments are in $A)

DGR @ $0.145 = MCap $46.7m

Cash - Est = $3m

EV before Listed Investments $43.7m

Listed Investments:

ASX:MET = $29.4m (Au, Cu)
AIM:SOLG = $13.6m (Au,Cu)
ASX:ANW = $10.6m (Ni, Au, Ag)
TSX:CTR = $3.0m (Fe, Ti)

Total LI = $56.6m

EV = ($12.9m)

NTA = 19c - excludes all unlisted projects

Unlisted Projects:

ASX:NVG @ IPO price of $0.20 x 27m shares = $5.4m (Au)

Archer Resources - DGR holding 67% post $6m seed raising = $4m??? (Cu, Mo, Au)

Amour Energy - DGR holding 58% post $10m seed raising= $5.8m??? (Shale Gas, conventional gas, oil)

[denpal]

So what is this saying Shasta? To me it says the market does not care for holding companies and will always significantly discount their true value, ie their EV is always less than the sum of their parts.

I guess so long as the "parts" are growing in value, DGR's sp will be dragged up as a side-effect.

Of course we trust that the upcoming IPO's will light a bonfire under the sp. For that reason I'm happy to hold.

[percy]

Am I being foolish in thinking the potential profit shareholder's will enjoy from hopefully their priority rights to Amour Energy float will give them just about a free ride in DGR?

[shasta]

Am I being foolish in thinking the potential profit shareholder's will enjoy from hopefully their priority rights to Amour Energy float will give them just about a free ride in DGR?

Yes Percy, at present the market is saying DGR's listed investments & cash totalling ~$60m is worth just ~$47m & thats without factoring in any of the 3 IPOs.

We already know the Navaho Gold ASX:NVG will be worth $5.4m at IPO of $0.20, as DGR own 27m shares

DGR was involved with getting $13m seed capital for Navaho, Archer Resources & Armour Energy & are looking at raising via IPO, the following:

Navaho Gold (ASX:NVG) - $9m
Archer Resources (to be listed) - $6m sought at IPO (im surprised at this low amount given the JORC Molybdenum resource)
Armour Energy (to be listed) - $50m sought at IPO

So clearly the Armour Energy IPO is the biggie, & im expecting it to be a very popular IPO, with DGR's shareholder entitlements being scaled back

[shasta]

DGR - Navaho Gold officially added to the ASX, under NVG

DGR will be holding 27m shares, worth $A5.4m at the opening price of 20c

No movement in DGR @ 15c, in fact no trades today at all!

From now on i'll reflect NVG's market value into the DGR NTA calculations

[Oiler]

Yes Percy, at present the market is saying DGR's listed investments & cash totalling ~$60m is worth just ~$47m & thats without factoring in any of the 3 IPOs.

So clearly the Armour Energy IPO is the biggie, & im expecting it to be a very popular IPO, with DGR's shareholder entitlements being scaled back

Shasta

The Amour IPO is going to be the biggie. :D

I am going to raid every piggy bank I can get my hands for this one and at the same time I am adding a few more DGR in case they make the IPO proportional based on DGR holdings.

I am happy with where DGR is at the moment and time will hopefully prove

[shasta]

Shasta

The Amour IPO is going to be the biggie. :D

I am going to raid every piggy bank I can get my hands for this one and at the same time I am adding a few more DGR in case they make the IPO proportional based on DGR holdings.

I am happy with where DGR is at the moment and time will hopefully prove

I suspect DGR will do the same as per the NVG listing, but with a bigger pool, say maybe $10m worth for DGR shareholders, might be worth obtaining a few different HIN numbers in case its capped, (you can always get your broker to transfer them off market back into a single a/c).

The market still isnt awake to DGR & its true value yet, but surely when the Armour Energy details are announced, the market will catch on to the "shale gas"

[shasta]

DGR - NTA Update

DGR @ $0.14 = MCap $45.1m

Cash est @ $3m

Listed Investments: (All converted to $A)

ASX:ANW = $8.9m
ASX:MET = $29.1m
ASX:NVG = $5.4m*
AIM:SOLG = $13.6m
TSX:CTR = $3.0m

Total LI = $60m

NTA = 20c

Discount to NTA = 28.35%

* valued at opening listing IPO price of 20c

NB, No allowance or valuation has been applied to the Archer Resources or Armour Energy unlisted projects, despite a combined $12m in seed capital having already be raised (NB, after the seed capital DGR now owns 58% of Armour Energy & 67% of Archer Resources)

[Corporate]

DGR is on my radar and I'm looking to buy as soon as the price stops trending downward. I keep a close eye on the depth which I find is usually a good indicator of a change in sentiment.

[shasta]

DGR is on my radar and I'm looking to buy as soon as the price stops trending downward. I keep a close eye on the depth which I find is usually a good indicator of a change in sentiment.

Monday should see NVG trading & thereby providing DGR with an increase in value (as assumed in my post above)

[buns]

Some big buys lining up on NVG

[trackers]

So here I was just this morning running the ruler over MET (looking at awe at their African ground and thinking of using them as an entry into SMD's current drill) and pop! Off they go, on news of 14km new prospective ground. Wow.

These guys could be the next EKM imo... But I've chosen to take an increased position in DGR to get exposure to them + Armour Energy float.

NVG float is a bit of a fizzler. Think they needed to be actually drilling or extremely close to drilling when they listed for them to have done any good in this market

[shasta]

So here I was just this morning running the ruler over MET (looking at awe at their African ground and thinking of using them as an entry into SMD's current drill) and pop! Off they go, on news of 14km new prospective ground. Wow.

These guys could be the next EKM imo... But I've chosen to take an increased position in DGR to get exposure to them + Armour Energy float.

NVG float is a bit of a fizzler. Think they needed to be actually drilling or extremely close to drilling when they listed for them to have done any good in this market

I thought NVG would do alright, listed at 20c & now at 16.5c

I mean a gold explorer with multiple projects in Qld & Nevada, at a time with gold > $1450/oz - nevermind its small fish compared to Armour Energy

[drillfix]

While there is mention of a few other goldies anybody else on MKO (Metaliko Resources) or Shasta, what would FA opinion on them be should you know them?

[Corporate]

Shasta, any idea what is pushing DGR down (other than the general market)? I'm looking for an entry :-)

[shasta]

Good point, i cant see any real reason for the 13c share price, MET & NVG have fallen & the SOLG:AIM, CTR:TSX investments have had slightly unfavourable FX drops, maybe low on cash?

Updating the NTA spreadsheet:

DGR@ 13c = MCap $41.8m, est cash @ $3m, listed investments $56.5m, NTA = 18c, @ a discount of ~30%

Thats attributing NO VALUE to the Archer Resources (Cu, Mo) IPO, nor Armour Energy (Shale Gas)

[gazprom1]

Hi Shasta,

Good news out re Armour today - although it would be nice to be in a 20 cents like the $14 million raised (with free attached options). DGR have stated that the IPO will be at 75 cents a share which will value DGRs 75million shares at over $56 million plus options - more than the total capitalisation of DGR!!!

Gaz

[shasta]

Hi Shasta,

Good news out re Armour today - although it would be nice to be in a 20 cents like the $14 million raised (with free attached options). DGR have stated that the IPO will be at 75 cents a share which will value DGRs 75million shares at over $56 million plus options - more than the total capitalisation of DGR!!!

Gaz

Havent even looked at the market yet, will digest it & post my thoughts later tonight :)

[shasta]

Well seems i dont need to prattle on about DGR's value anymore, if that ann don't spell it out, i don't know what else will!

DGR only up 0.5c to 15.5c surprises me, those sitting on DGR shares ready for the Armour Energy IPO should star to see a re-rating of DGR as todays ann gets a mention, & people realise buying DGR gets you in pre IPO.

Good to see they are getting on with the work already for Armour Energy, they have the $10m seed capital

Just for those who are new to the thread/DGR in general.

The people running DGR are ex Arrow Energy (formerly ASX:AOE), who have vast knowledge of conventional/unconventional Gas

[percy]

Well seems i dont need to prattle on about DGR's value anymore, if that ann don't spell it out, i don't know what else will!

DGR only up 0.5c to 15.5c surprises me, those sitting on DGR shares ready for the Armour Energy IPO should star to see a re-rating of DGR as todays ann gets a mention, & people realise buying DGR gets you in pre IPO.

Good to see they are getting on with the work already for Armour Energy, they have the $10m seed capital

Just for those who are new to the thread/DGR in general.

The people running DGR are ex Arrow Energy (formerly ASX:AOE), who have vast knowledge of conventional/unconventional Gas

Another one of your great finds from all your research about ready to fire up.Great.!!

[Entrep]

AFAIK you will be able to get the Armor pre IPO with just one DGR share. So it may not re-rate on this announcement as much?

[drillfix]

Entrep, but will 1 share only entitle you to 1 share or will it be some % set for issue? or will it be if your name is on the register you qualify for whatever fill you ask for?

BTW, good work Shasta~!

[Entrep]

Their last IPOs were if your name is on the register you can apply for as many as you want

[shasta]

Their last IPOs were if your name is on the register you can apply for as many as you want

Yeah there will either be a pool of either $Xm or Xm shares for DGR shareholders (going off the ASX:NVG IPO), i suspect this IPO will be hot & it'll get scaled back

Those interested in DGR's base/precious metal assets may see this as a "stag" opportunity

[gazprom1]

AFAIK you will be able to get the Armor pre IPO with just one DGR share. So it may not re-rate on this announcement as much?

Yep, one share would get you an entitlement based on DGRs other IPOs. IMO Shasta is right in that there will be a pool of shares/ $XXmillion available to DGR shareholders. I do think DGR should potentially be re-rated on the basis of Armour especially if the IPO is underwritten at 75 cents per share. Like I posted above, that would value DGRs share at $56 million plus the options which would be in the money (exercise is 50 cents). DGRs SP does not reflect the potential value or any value to Armour IMO.

Gazprom

[buns]

DGRs SP does not reflect the potential value or any value to Armour IMO.

Gazprom

I've noticed DGR this year has followed Solomon gold's SP pretty closely this year. Maybe ASX investors want exposure to that? It is quite obvious that none of these portfolio type miners have any value attributed to non listed projects – Shasta has pointed this out many a time.

I like this announcement (shame it fell on a bad day for miners), however am not banking on major re rating from it as I'm yet to see it happen. The market just seems so slow to pick this kind of thing up in these companies, Look at what happened post NVG (I know it is nothing compared to Armour) listing - DGR went down.

Once the Armour affect is shown in DGR - I'm splitting my DGR holdings with HRS who have a larger discount to NTA than DGR.

[lewinsky]

The report today makes interesting reading and they have even done a Shasta type valuation.

This shows an NTA of 26 cents per share against current price of 16.5.

I have been patiently holding and hopefully this could be the start of a rerate.

Esp if gold and silver keep going up.

Interesting suite of projects.

Thanks to Shasta for putting this on the radar sometime ago.

LEW.

[Oiler]

The report today makes interesting reading and they have even done a Shasta type valuation.

This shows an NTA of 26 cents per share against current price of 16.5.

I have been patiently holding and hopefully this could be the start of a rerate.

Esp if gold and silver keep going up.

Interesting suite of projects.

Thanks to Shasta for putting this on the radar sometime ago.

LEW.

I am also patiently holding and as you say is ready for a rerate.

Am nibbling away at this one. The biggie for me is the upcoming Amour Energy IPO.

Isnt it time we had another Wellington meeting Lew ? Should we give Liz a nudge :)

[lewinsky]

Hi Oiler,
You must have me mixed up with someone else, as I hate to admit it, I live north of the Bombay Hills.

In saying that, I did meet you a few years back at the Field days in Hamilton.

I was manning a stand there and somehow we got into conversation on investing and I discovered oil(er).

Trust you are well.

LEW

[Caesius]

Wow, what was so bad about this announcement that it drove the SP down 10 percent? Looked positive to me. Was it not as good as expected?

http://au.finance.yahoo.com/news/D-Aguilar-Gold-Limited-ASX-asiacorp-1656928713.html?x=0&.v=1

[roniirani]

I was on only $5000 worth of volume - which i think happened before the announcement came out.

[buns]

I've noticed DGR this year has followed Solomon gold's SP pretty closely this year.

More good news from MET today.

However I think the rise (and weak sell side) on DGR today comes down to SOLG going up 9% in London.

[shasta]

More good news from MET today.

However I think the rise (and weak sell side) on DGR today comes down to SOLG going up 9% in London.

DGR - Presentation

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=231899

Flag reading the whole presentation, page 8 says it all, say no more...

[shasta]

DGR -NTA Update

MCap @ $0.155 = $49.9m

Est Cash = 0.5m (Cash has largely been spent on the seed capital raisings/IPO costs)

ASX Listed Investments:

MTE @ $0.42 = $21.8m
ANW @ $0.145 = $8.5m
NVG @ $0.165 = $4.4m

Others:

SOLG (AIM) = $A11.8m

Total Listed Investments = $A46.6m

See thru value in companies to be listed:

Armour Energy = $56m
Ridge Exploration = $10m
Archer Resources= $4m

Total Value = $A70m

NTA = 36c

Discount to NTA = ~57%

There are also another 5 projects in the pipeline for future IPO's, including Tin, Diamonds, & Rare Earths (2012 > IPO's)

[shasta]

DGR -NTA Update as at 27/5/11

MCap @ $0.135 = $43.5m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.38 = $19.8m
ANW @ $0.145 = $8.6m
NVG @ $0.165 = $4.4m

Others:

SOLG (AIM) = $A11.3m

Total Listed Investments = $A44.1m

See thru value in companies to be listed:

Armour Energy = $56m
Ridge Exploration = $10m
Archer Resources= $4m

Total Value = $A70m

NTA = 36c

Discount to NTA = ~62%

There are also another 5 projects in the pipeline for future IPO's, including Tin, Diamonds, & Rare Earths (2012 > IPO's)

[shasta]

DGR -NTA Update as at 3/6/11

MCap @ $0.12 = $38.6m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.37 = $19.2m
ANW @ $0.145 = $8.6m
NVG @ $0.13 = $3.5m

Others:

SOLG (AIM) = $A10.0m

Total Listed Investments = $A41.3m

See thru value in companies to be listed:

Armour Energy = $56m
Ridge Exploration = $10m
Archer Resources= $4m

Total Value = $A70m

NTA = 35c

Discount to NTA = 65%

[BIRMANBOY]

I see DB have DGR NTA as 0..you have it listed as 35c? Do they not recognise some aspect of the assets that you have built in? (I'm new so forgive me if this is a silly question)

[shasta]

I see DB have DGR NTA as 0..you have it listed as 35c? Do they not recognise some aspect of the assets that you have built in? (I'm new so forgive me if this is a silly question)

DGR's listed investments are worth more than its market cap, BEFORE including the 3 projects to be IPO'd.

Armour Energy the Shale Gas company will list @ 75c & DGR owns 75m shares, its all in there announcements, so DB have dropped the ball here.

DGR, MLM, HRS & MFC are all trading well below NTA, ie Negative EV!

[deks14]

Was doing some research on shale gas and it has seen some negative news lately in the US and England over environmental issues surrounding fracking. Will be interesting to see how this plays out for Armour Energy in Australia over regulations that maybe imposed. May explain the slow uptake of support for the SP of DGR.

Some interesting reads:

http://www.time.com/time/health/article/0,8599,2070533,00.html

http://www.ft.com/cms/s/0/0577dda0-8c82-11e0-883f-00144feab49a.html#axzz1OS6YYgza

DISC: stock held

[whipit]

Was doing some research on shale gas and it has seen some negative news lately in the US and England over environmental issues surrounding fracking. Will be interesting to see how this plays out for Armour Energy in Australia over regulations that maybe imposed. May explain the slow uptake of support for the SP of DGR.

Some interesting reads:

http://www.time.com/time/health/article/0,8599,2070533,00.html

http://www.ft.com/cms/s/0/0577dda0-8c82-11e0-883f-00144feab49a.html#axzz1OS6YYgza

DISC: stock held

Yes I watched the movie Gasland the other evening which doesn't exactly leave you with a warm fuzzy feeling about shale gas. A polarized view no doubt but still. Hopefully its not weighing on the minds of to many, as I am holding too

[drillfix]

Was doing some research on shale gas and it has seen some negative news lately in the US and England over environmental issues surrounding fracking.

http://www.ft.com/cms/s/0/0577dda0-8c82-11e0-883f-00144feab49a.html#axzz1OS6YYgza


That link requires registration there Deks.

Also with regards to fracking, correct about the chemicals and issues it causes as in the move GasLand

Cant say I am a big fan of it regardless of what energy it brings as it displaces good honest people which to me is a complete sin.

dis: dont hold~!

[deks14]

Sorry about that drillfix i could only access that one article on that site the rest was subscription must be limited free access.

[drillfix]

No worries mate, such as life with some of these sites.

Cheers anyway~!

[shasta]

MET - NABANGA GOLD PROSPECT – DRILLING OF HIGH GRADE GOLD DISCOVERY RE‐COMMENCED

http://stocknessmonster.com/news-item?S=MET&E=ASX&N=232511

Some high grade results & both MET & DGR fall!

DGR @ $0.105 = Mcap $33.8m (as at 7/6/11)

Cash = est $0.5m

Listed Investments = $37.1m

Unlisted Investments = $70m

NTA = 33c

Discount to NTA = ~68%

Market clearly unaware of the projects to be listed, no value attributed?

[Entrep]

I'm on board at 10c. Markets looks very bad at the moment but can't argue with the value.

[roniirani]

Any thoughts on the 5m shares dumped at 4.10? someone just needing to liquidate?

[gazprom1]

Any thoughts on the 5m shares dumped at 4.10? someone just needing to liquidate?

IMO it seemed like a "fake" trade. If you look at volumes over the past several months you typically see 50,000, 100,000 and maybe up to 200,000 per day. I think around 4.7-8 million went through at 4.10pm. I have never seen a 4.7 million bid or offer on the table and the fact that there was a bid and an offer makes me a little bit wary. JBM on another thread has been talking about the end of the tax year being 30 June and some investors locking in losses and wonder whether this was a deliberate "tax" trade. I am only speculating though and it may well have been a legitimate trade.

IF I had to (and I don't thank goodness) be on the buy or sell side of DGR today, I would be buying at 9.5 as I believe we may see it higher at days end. Regardless, we have seen DGR fall from that 13.5 cent level down to 9.5 - 30% fall in a matter of days. UGLY!!!!

Gazprom

Discl. Hold

[Entrep]

The bid for the shares was lined up prior, I saw it. Given normal trading volumes, this was deifnitely pre-arranged or something (admitedly I am unsure exactly how XT work though).

[gazprom1]

The bid for the shares was lined up prior, I saw it. Given normal trading volumes, this was deifnitely pre-arranged or something (admitedly I am unsure exactly how XT work though).

I agree. Interestingly this morning the offer is at 13 cents....I wonder whether there has been some manipulation the past couple of days to get the price down ready for the dump. The cost would have been minimal in brokerage costs. If you look at say 4.7 million shares dropping from 13.5 to 9.5 cents you have losses close to $200,000 - probably worth the hassle??

Gazprom

[Entrep]

We have our answer?

[gazprom1]

We have our answer?

We certainly do Entrep...31% rise for the day. I have never seen such an obvious manipulation before and really hard to believe. Still, we all had the opportunity to participate!!! Well done on the 10 cent purchase.

Gazprom

[percy]

I wasn't clever or brave enough to fill up the muck spreader at 10cents,but added to my modest holding at 10.5 cents on Tuesday.

[evilroyrule]

I wasn't clever or brave enough to fill up the muck spreader at 10cents,but added to my modest holding at 10.5 cents on Tuesday.

good evening chaps,

i notice the interesting trade you speak of above of abnormal volume driving the price down. interestngly on the same day 22 million ayn shares were sold in 3 mins, same effect. no bounce as yet, but likely will be.

not sure of the reasoning for either but reminds us how small we really are. i sold my ayn at 9.9 for a small loss.

[shasta]

DGR -NTA Update as at 10/6/11

MCap @ $0.12 = $38.6m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.33 = $17.2m
ANW @ $0.125 = $7.4m
NVG @ $0.11 = $2.9m

Others:

SOLG (AIM) = $A9.1m

Total Listed Investments = $A36.6m

See thru value in companies to be listed:

Armour Energy = $56m
Ridge Exploration = $10m
Archer Resources= $4m

Total Value = $A70m

NTA = 33c

Discount to NTA = ~64%

DGR's Market Cap now covers Listed Investments & Cash, most of DGR's NTA remains in the Armour Energy IPO

[shasta]

DGR -NTA Update as at 17/6/11

MCap @ $0.115 = $37.3m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.315 = $16.4m
ANW @ $0.09 = $5.3m
NVG @ $0.14 = $3.8m

Others:

SOLG (AIM) = $A8.4m

Total Listed Investments = $A33.9m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 29%* or 64%**

I guess the market is rightly being skeptical of the size of the Armour Energy IPO @ $75m, i wonder whether it will be repriced, or the IPO delayed due to market conditions?

DGR in there recent presentation have targetted up to 20 IPO spin outs over the next 5 years, very ambitious & i know there are Tin, Rare Earth & Diamond projects in among them.

[shasta]

DGR - Change of SSH

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=232799

This explains the current weakness, Indium Investments selling ~7,2m shares on market at an average of 10.36c!

Still hold 30m+ shares but just under the 10% blocking stake

[Oiler]

I guess the market is rightly being skeptical of the size of the Armour Energy IPO @ $75m, i wonder whether it will be repriced, or the IPO delayed due to market conditions?

DGR in there recent presentation have targetted up to 20 IPO spin outs over the next 5 years, very ambitious & i know there are Tin, Rare Earth & Diamond projects in among them.

I put that very question to Nick Mather, whether this was the right time to IPO Armour and he said he was very comfortable with the pricing and that the IPO would be fully taken up. He knows something that we dont see, I guess.

[shasta]

I put that very question to Nick Mather, whether this was the right time to IPO Armour and he said he was very comfortable with the pricing and that the IPO would be fully taken up. He knows something that we dont see, I guess.

Without Nick saying too much, perhaps DGR may under write the IPO themselves?

DGR could retain a bigger chunk of Armour Energy, & reward DGR shareholders with an inspecie distribution, or add to the DGR shareholders pool, if undersubscribed?

No wonder he's comfortable, DGR have a few options to unlock value for there shareholders with Armour Energy

[shasta]

DGR - Update re Soloman Gold

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=232809

Heres the full Soloman Gold announcement

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10897368

[Oiler]

Without Nick saying too much, perhaps DGR may under write the IPO themselves?

DGR could retain a bigger chunk of Armour Energy, & reward DGR shareholders with an inspecie distribution, or add to the DGR shareholders pool, if undersubscribed?

No wonder he's comfortable, DGR have a few options to unlock value for there shareholders with Armour Energy

I think you hit the nail on the head Shasta. Both Nick and Phil were very confident, almost smug about there upcoming float. I asked them the question "which would be the better buy?" and i got the expected answer....buy both.

[bung5]

Anyone have a top 20 shareholder list for this year? Have emailed company but no response.

[shasta]

NVG - Exploration Update - Nevada & Queensland

http://stocknessmonster.com/news-item?S=NVG&E=ASX&N=232839

DGR owns 27m shares or ~29% of NVG

DGR - (To be listed) Archer Resources, High Grade Silver results at Rossmore

http://stocknessmonster.com/news-item?S=DGR&E=ASX&N=232837


I thought Barylene Mining was included into Archer Resources, might seek further clarifaction on this, as they have a JORC Molybdenum resource & im not sure if that project is being held back, or not.

I'm confused?

[shasta]

DGR -NTA Update as at 24/6/11

MCap @ $0.11 = $35.6m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.32 = $16.6m
ANW @ $0.09 = $5.3m
NVG @ $0.135 = $3.7m

Others:

SOLG (AIM) = $A7.5m

Total Listed Investments = $A33.1m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 31%* or 66%**

DGR's share price is basically tracking the decrease in value of it's listed investments, whilst factoring nothing of the 3 IPO's

[shasta]

DGR -NTA Update as at 1/7/11

MCap @ $0.105 = $34.0m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.31 = $16.1m
ANW @ $0.065 = $3.8m
NVG @ $0.13 = $3.5m

Others:

SOLG (AIM) = $A9.1m

Total Listed Investments = $A32.5m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 33%* or 67%**

[shasta]

DGR -NTA Update as at 8/7/11

MCap @ $0.14 = $45.3m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.39 = $20.3m
ANW @ $0.06 = $3.5m
NVG @ $0.145 = $3.9m

Others:

SOLG (AIM) = $A8.1m

Total Listed Investments = $A35.9m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 17c* or 33c**

Discount to NTA = 17%* or 57%**

DGR's movement from 10.5c to 14c this week, has reduced the discount to NTA on the listed investments, but still very little of the 3 IPO's is being factored in, this tells me the market needs some more assurance regarding the Armour Energy - Shale Gas IPO.

[shasta]

DGR -NTA Update as at 15/7/11

MCap @ $0.135 = $43.8m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.425 = $22.1m
ANW @ $0.06 = $3.5m
NVG @ $0.15 = $4.1m

Others:

SOLG (AIM) = $A8.6m

Total Listed Investments = $A38.3m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 18c* or 34c**

Discount to NTA = 23%* or 60%**

[shasta]

DGR -NTA Update as at 22/7/11

MCap @ $0.12 = $38.9m

Est Cash = $0.5m

ASX Listed Investments:

MTE @ $0.48 = $25.0m
ANW @ $0.07 = $4.1m
NVG @ $0.185 = $5.0m

Others:

SOLG (AIM) = $A7.4m

Total Listed Investments = $A41.5m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 19c* or 35c**

Discount to NTA = 35%* or 65%**

[shasta]

DGR -NTA Update as at 5/8/11

MCap @ $0.12 = $32.4m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.35 = $18.2m
ANW @ $0.07 = $4.1m
NVG @ $0.11 = $3.0m

Others:

SOLG (AIM) = $A7.9m

Total Listed Investments = $A33.2m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 38%* or 69%**

[shasta]

DGR -NTA Update as at 19/8/11

MCap @ $0.09 = $29.5m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.35 = $18.2m
ANW @ $0.062 = $3.7m
NVG @ $0.13 = $3.5m

Others:

SOLG (AIM) = $A9.7m

Total Listed Investments = $A35.1m

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 17c* or 33c**

Discount to NTA = 45%* or 72%**

[denpal]

DGR is a bottom drawer hold for me. Been quite a bad performer really despite all the hype about creating value by spinoffs.

Looking for all time highs to be reached (49.5c) once we have done the Armour spinoff.

[shasta]

DGR is a bottom drawer hold for me. Been quite a bad performer really despite all the hype about creating value by spinoffs.

Looking for all time highs to be reached (49.5c) once we have done the Armour spinoff.

DGR started 2011 @ 15.5c & now at 9c, shows the market doesnt believe the Armour Energy IPO will happen, given its DGR's biggest asset.

One critical thing being missed by the market is that Nick Mather is ex Arrow Energy, if anyone knows about Gas projects he would!

I also fail to understand the logic of why the DGR shareprice isn't tracking the gold price closer, given SOLG/MET/NVG are primarily gold companies!

[whipit]

Yes I found it strange that last week while MET etc. were clawing some back, DGR just stood still. Any opinions on whether they would postpone the IPO?
3546

Please excuse my rough chart. Not exactly proficient as yet.

[shasta]

Yes I found it strange that last week while MET etc. were clawing some back, DGR just stood still. Any opinions on whether they would postpone the IPO?
3546

Please excuse my rough chart. Not exactly proficient as yet.

There is every chance the Armour Energy IPO could be postponed, should general market/economic conditions prevent them from getting enough interest to list.

The IPO price may be lowered (not sure about ASX rules around this, i guess a full prospectus is required to read the legal fine print?).

Unconventional Gas is seemingly all the rage at the moment (CSG, LNG, Shale Gas)

The slide in DGR's share price means the market cap doesn't even cover there listed investments, even ignoring ALL non listed projects!

As Denpal states, it's bottom draw stuff, DGR can hold onto projects until better market conditions, as they are under no duress to sell (ie, no debt).

Armour Energy may also attract a JV Partner or cornerstone shareholder to fund the exploration & developement, DGR have a few options here

[whipit]

There is every chance the Armour Energy IPO could be postponed, should general market/economic conditions prevent them from getting enough interest to list.

The IPO price may be lowered (not sure about ASX rules around this, i guess a full prospectus is required to read the legal fine print?).

Unconventional Gas is seemingly all the rage at the moment (CSG, LNG, Shale Gas)

The slide in DGR's share price means the market cap doesn't even cover there listed investments, even ignoring ALL non listed projects!

As Denpal states, it's bottom draw stuff, DGR can hold onto projects until better market conditions, as they are under no duress to sell (ie, no debt).

Armour Energy may also attract a JV Partner or cornerstone shareholder to fund the exploration & developement, DGR have a few options here

Thanks for your thoughts Shasta, always interesting! :)

[shasta]

DGR -NTA Update as at 26/8/11

MCap @ $0.085 = $27.6m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.32 = $16.6m
ANW @ $0.052 = $3.1m
NVG @ $0.125 = $3.4m

Others:

SOLG (AIM) = $A9.4m

Total Listed Investments = $A32.5m (NTA based on listed investments ONLY is 10c)

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 46%* or 73%**

[Corporate]

DGR -NTA Update as at 26/8/11

MCap @ $0.085 = $27.6m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.32 = $16.6m
ANW @ $0.052 = $3.1m
NVG @ $0.125 = $3.4m

Others:

SOLG (AIM) = $A9.4m

Total Listed Investments = $A32.5m (NTA based on listed investments ONLY is 10c)

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 46%* or 73%**

Thanks for the continued updates shasta, I've been a buyer today between 8.9c and 9.1c. Very good value in my opinion!

[Corporate]

Well I got 90,000 shares today, which for me, is enough for now.

Looking forward to some news on the Armour IPO.

I think it bodes well that I drive past Armour Avenue in Wellington every day ;) it's a sign.

[shasta]

Well I got 90,000 shares today, which for me, is enough for now.

Looking forward to some news on the Armour IPO.

I think it bodes well that I drive past Armour Avenue in Wellington every day ;) it's a sign.

No material change in NTA this week

[Crypto Crude]

go corporate,
you have the right idea...
load, lock and blow them away...
utututut
:cool:
.^sc

[bung5]

Well it it is crunch time. We are in september so should find out the fate of the IPO . Does anyone know details around the IPO listing value of 100mil and how much equity from that will be retained in the company and what stake DGR plan to hold after the IPO?

[bung5]

Asked the above questions to the company, response below:

"The IPO of Armour is still a bit of a “work in progress”. The current plan is to raise $75million (100 million new shares at 75cents per share) all of which is to be retained by Armour Energy. D’Aguilar is currently planning to retain its current shareholding in Armour, and the post-IPO value (at 75cents) would be worth approximately $56million."

[whipit]

Cheers for sharing that Bung, might have to wait a little longer eh.

[Corporate]

Well worth the wait I believe. Just got to have a medium to long term view. Quality management on this one.

[shasta]

Well worth the wait I believe. Just got to have a medium to long term view. Quality management on this one.

DGR owns 75.3m shares in Armour Energy, which post listing will be roughly 50%

The IPO is issuing 100m shares @ 75c each.

On listing DGR's investment will be 75.3m x $0.75 = hence where the $56m figure in

[whipit]

SOLG up 38% for the week with building volume and no news

[shasta]

DGR -NTA Update as at 9/9/11

MCap @ $0.09 = $29.2m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.305 = $15.9m
ANW @ $0.06 = $3.5m
NVG @ $0.10 = $2.7m

Others:

SOLG (AIM) = $A11.9m

Total Listed Investments = $A34.0m (NTA based on listed investments ONLY is 11c)

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 45%* or 72%**

[Corporate]

Friday looks like a marked changed in depth. The sell side under 11c is very thin! Bring on the Armour IPO.

[shasta]

Friday looks like a marked changed in depth. The sell side under 11c is very thin! Bring on the Armour IPO.

Will update the Negative EV threads (DGR, MLM, HRS) tomorrow

I seem to have lost the LOW EV spreadsheet, so may not continue with that thread, hopefully i can find it & update it!

[whipit]

Saw this on HC

"Nick Mather's Armour Energy gas float gains altitude" The Australian FInancial Review, Thursday 15th September 2011, p.26.

"Given Nick Mather's track record as co-founder of Queensland coal seam gas explorer Arrow Energy, as well as several other resource plays, his next ventures are closely watched.
So no wonder his unconventional Armour Energy gas spin-off which is gearing up for a $75 million raising, is attracting some attention.
This latest float to emerge from D'Aguilar Gold is expected to have a market cap of $220 million. It lured $4.5 million from Och-Ziff Capital Management as part of a $14.5 million seed capital raising in March-April and the hedge fund has also committed to $7.5 million in the IPO. Other seed investors are set to take $10 million, cutting the public offer to $57.5 million.
Armour has 130,000 square kilometres of acreage in the Northern Territory and Queensland under tenure application, equivalent in size to Britain - targeting 40 Trillion cubic feet of shale gas and conventional gas.
The acreage in the McArthur and Nicolson Basins lies to the east of the Beetaloo Basin, where US independent Hess is working on shale gas and to the north of the Georgina Basin, the focus of Canada's PetroFrontier.
Australia, with about 396 Trillion cubic feet of shale gas, has also recently lured Conoco-Phillps and BG Group into the sector. Two investment banks in Sydney are tipped as joint managers of the listing".

[Corporate]

Thanks whipit, I also saw that on HC. Look at the graph on page six of the latest presentation. I like the look of a 90-100 million market cap once Armour is IPO'd (circa 28-30c).

[whipit]

Thanks whipit, I also saw that on HC. Look at the graph on page six of the latest presentation. I like the look of a 90-100 million market cap once Armour is IPO'd (circa 28-30c).

Yes the graph is a nice elegant way of telling the story. Hopefully we see it follow the script sometime in the next few months

[shasta]

DGR -NTA Update as at 19/9/11

MCap @ $0.091 = $29.5m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.31 = $16.1m
ANW @ $0.05 = $3.0m
NVG @ $0.09 = $2.4m

Others:

SOLG (AIM) = $A10.7m

Total Listed Investments = $A32.2m (NTA based on listed investments ONLY is ~10c)

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 16c* or 32c**

Discount to NTA = 42%* or 71%**

[Corporate]

Thanks for the update shasta - next MLM :t_up:

[shasta]

DGR -NTA Update as at 30/9/11

MCap @ $0.08 = $25.9m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.27 = $14m
ANW @ $0.045 = $2.7m
NVG @ $0.09 = $2.4m

Others:

SOLG (AIM) = $A9.5m

Total Listed Investments = $A28.6m (NTA based on listed investments ONLY is ~9c)

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 15c* or 31c**

Discount to NTA = 45%* or 74%**

[whipit]

Some may have seen it, but to quote Mr Chairman:

"Currently, D'Aguilar's major focus is on progressing Armour Energy, our emerging gas giant, to a public listing at the end of 2011. Armour plans a substantial raising managed by JP Morgan and Deutsche Bank in late 2011."

[Corporate]

Much higher than average volume today!

[drillfix]

Much higher than average volume today!

Yep, there has not been volume like that since August 8th.

Total today was 6,657,099 previous days: 50,000 and 0 before that and 202K prior to that, so right you are Corp, a huge volume today for DGR.

[whipit]

Yep, there has not been volume like that since August 8th.

Total today was 6,657,099 previous days: 50,000 and 0 before that and 202K prior to that, so right you are Corp, a huge volume today for DGR.

I noticed the majority was a single "crossed" trade? Drilly does this mean much?

[shasta]

DGR -NTA Update as at 7/10/11

MCap @ $0.085 = $27.6m

Est Cash = $0.8m

ASX Listed Investments:

MET @ $0.27 = $14m
ANW @ $0.044 = $2.6m
NVG @ $0.095 = $2.6m

Others:

SOLG (AIM) = $A7.7m

Total Listed Investments = $A26.9m (NTA based on listed investments ONLY is ~9c)

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 14c* or 30c**

Discount to NTA = 40%* or 72%**

[Corporate]

Finally some positive movement for DGR! Buying in the low 9's was a no-brainer.

Now all I need is MOX to move. It's been a long time coming and has nearly been taken to the chopping block once or twice.

[bung5]

Yes looking good. Hopefully we see the IPO of amour this month and we get into the 20's by the end of the year.

[Huang Chung]

Where's Shasta?

[drillfix]

Where's Shasta?

Good question there HC.

Shasta, are you out there reading these posts and is everything ok there mate?

Hope to hear read some updates on those lists of co's you have kept, although some prices in some co's are all over the place it seems.

[Corporate]

DGR really starting to kick on. The chart looks great and the volume too. Closed at 12.5c and still very cheap on the back of Armour's pending IPO.

[bung5]

Yes big volume. I have a feeling there is some news to follow this run...

[shasta]

Where's Shasta?

Like the phoenix rising from the ashes, i'm back :D

Been a little preoccupied with the rehab program on my back injury.

I shall update the NTA spreadsheets & update the threads.

[percy]

Like the phoenix rising from the ashes, i'm back :D

Been a little preoccupied with the rehab program on my back injury.

I shall update the NTA spreadsheets & update the threads.

Nice to have you back.Trust rehab program is going well.

[Crypto Crude]

anyone heard anything about the Armour IPO listing date?
:cool:
.^sc

[Corporate]

SC, I heard its been delayed until next year.

[bung5]

Feb next year most likely but it won't be available to the public.

[Corporate]

Guys, if you are in DGR for Armour shale potential, I suggest taking a look at NSE. I'm taking the direct route :-)

[trackers]

MET up 20% and waking DGR up from slumber today.... Surely we're overdue some info on Armour shale listing... If gas/oil prices stay high, markets semi-sane, and no bad news in the shale sector we should be in business fairly shortly I would have thought?

[gazprom1]

Gidday Trackers. Happy New Year. I agree, they should be rolling Armour out sooner rather than later given where the market is at. Oil looks to remain high in the short term. They should have all their ducks lined up ready to go.

Gaz

[trackers]

Heya Gaz, happy New Year to you and yours too - Hope the farm and everything is going well.

Dec 5 announcement re: Lakes Oil says "Armour Energy is preparing for an IPO in February 2012." so whether its going ahead or not we should know soon enough!

[bung5]

I agree.. seems I have been the only one buying the last few weeks from 8.7 to 9.1 range!

[gazprom1]

Heya Gaz, happy New Year to you and yours too - Hope the farm and everything is going well.

Dec 5 announcement re: Lakes Oil says "Armour Energy is preparing for an IPO in February 2012." so whether its going ahead or not we should know soon enough!

Thanks Trackers....could have news anyday. They, management, will be wanting to ride the back of the current wave of enthusiam.

Bung - could be buying at the right time IMO. Could see some interest as soon as we get news and details about Armour float.

Gaz

[bung5]

I have talked to the company and they have advised that April is now on the cards for the IPO and shareholders will get an allocation but it will not be available to the public

[percy]

bung5
thank you for the update.

[denpal]

DGR says they are in the business of creating value - but where are the long-term gains for DGR shareholders? The share price is basically awful and has gone nowhere in 5 years.

I still have a few. Are the upcoming floats life-changers? Surely one day the spinoffs will add serious value. I'd like to see 30-50c within a year at least but maybe not.

[bung5]

denpal - for me DGR is more short term getting the gains of the revaluation of the armour IPO which should give a mark to market value of that investment of 50 million odd. So with the current market cap at 30 million it looks like it "should" create some value .

[trackers]

Thanks for contacting the company bung... I wonder what the delay is this time... Pretty poor really, but the company is undervalued by quite a margin *when* the IPO goes through fully (or nearly fully if there's shareholder allocation) subscribed.

[shasta]

DGR says they are in the business of creating value - but where are the long-term gains for DGR shareholders? The share price is basically awful and has gone nowhere in 5 years.

I still have a few. Are the upcoming floats life-changers? Surely one day the spinoffs will add serious value. I'd like to see 30-50c within a year at least but maybe not.

Armour Energy is the largest unlisted project, but they have 3 or 4 further projects (over & above the current IPO pipeline) to set up, fund & list etc, from memory DGR try to list at least 1 company per year, & to keep putting Armour Energy off isn't helping the SP, but i would expect alot from Nick Mather given his background.

The market has also all but forgotten the old Barylene Mining/Archer Resource JORC Moly Resource for some reason?

[Caesius]

MET shooting up, DGR refuses to budge. I guess MET doesn't really factor in at the moment and it's the IPO that will drive the SP if anything. What is the timeframe now?

[shasta]

MET shooting up, DGR refuses to budge. I guess MET doesn't really factor in at the moment and it's the IPO that will drive the SP if anything. What is the timeframe now?

Probably Q3 or 4, later this year.

Will update my DGR spreadsheet & see what the NTA is, & if the discount has closed or blown out

[trackers]

Probably Q3 or 4, later this year.

Will update my DGR spreadsheet & see what the NTA is, & if the discount has closed or blown out

Is that just a guess? Bung5 called the company and they said April:


I have talked to the company and they have advised that April is now on the cards for the IPO and shareholders will get an allocation but it will not be available to the public

[shasta]

Is that just a guess? Bung5 called the company and they said April:

Only a guess, & until i see an ASX announcement on it, im picking it will be later on in the year.

[Caesius]

Probably Q3 or 4, later this year.

Will update my DGR spreadsheet & see what the NTA is, & if the discount has closed or blown out

Cheers shasta.

[trackers]

Only a guess, & until i see an ASX announcement on it, im picking it will be later on in the year.


Woah ok there, so either Bung5 is lying or the company is - got ya.... :)

[shasta]

Woah ok there, so either Bung5 is lying or the company is - got ya.... :)

I have no reason to doubt/question Bung5, he could well be right.

This IPO was initially intended to be in 2011, so does anyone expect the global situation to improve dramatically by April?

Just saying slippage for IPO's in this market is to be expected, in saying that Nick Mather is a smart cookie, so they won't list til there;s enough interest

[shasta]

DGR -NTA Update as at 10/02/12

MCap @ $0.098 = $31.8m

Est Cash = $1.0m (Nb the $7.1m in the cashflow statement is the consolidated cash)

ASX Listed Investments:

MET @ $0.40 = $20.0m
ANW @ $0.04 = $2.4m
NVG @ $0.049 = $1.3m

Others:

SOLG (AIM) = $A5.3m

Total Listed Investments = $A29m (NTA based on listed investments ONLY is ~9c)

See thru value in companies to be listed:

Armour Energy = $14m* or ($56m**)
Ironridge Exploration = $2m* or ($10m**)
Archer Resources= $2m* or ($4m**)

Total Value = $A18m* (based on seed capital raising) or else $A70m** (Expected value on ASX listing)

NTA = 9c* or 31c**

Discount to NTA = 0%* or 68%**

DGR is basically trading at the value of its listed investments + cash, with no value to any of its projects to be listed

[gazprom1]

3 month high on reasonable volumes - up 22%.....would be good to get some more info re Armour!!

Still holding.

Gazprom