Discovery Metals (DML) - up and coming copper play

[Huang Chung]

If you like copper, and an African address doesn't scare you away, you should do some homework on Discovery Metals to see if it meets your investment parameters.

1,300km of strike on the Kalahari Copper Belt, all in Botswana (not a high risk country). Only explored about 3% of the strike so far, and have turned up a resource of some 50mt, grading 1.5% cu and 17g/t ag, all at shallow depth.

Aiming for production in 2011.

Link below to today's ASX release, updating the Petra Resource, the smallest of three so far identified as part of Discovery's Boseto Project.

http://www.stocknessmonster.com/news-item?S=DML&E=ASX&N=209574

Picked up some more today :).

[Dr_Who]

Thanks Huang. Will do some reading this week.

[Huang Chung]

Thanks Huang. Will do some reading this week.

Will be interested to hear what you think DW.

[Huang Chung]

A new 11km copper anomaly found in the Boseto project area. Only disappointment from my perspective is that they won't get around to testing it with the drill bit until 2010.

http://www.stocknessmonster.com/news-item?S=DML&E=ASX&N=209790

[Huang Chung]

Quarterly released today provides a detailed report on where DML is positioned in terms of developing the Boseto copper project.

Well worth a read for those with an interest in copper.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00948585

[macduffy]

It's over two years since any interest shown in DML in this forum.

A recent piece in the AFR noted that they may become a target for OZL who are sitting on a pile of cash and seeking to extend their Cu interests. DML's Boseto project has progressed well and is due to commence production next year.

Any comments? Interest? Huang Chung? Others?

[Rabbi]

It's over two years since any interest shown in DML in this forum.

A recent piece in the AFR noted that they may become a target for OZL who are sitting on a pile of cash and seeking to extend their Cu interests. DML's Boseto project has progressed well and is due to commence production next year.

Any comments? Interest? Huang Chung? Others?

George Soros bought into DML at 90 cents and it is a recommended stock by some brokers.
I have a feeling the train may have left the station.

[macduffy]

Thanks, Rabbi.

May not have moved too far yet!

I'll do some more reading.

[Huang Chung]

It's over two years since any interest shown in DML in this forum.

A recent piece in the AFR noted that they may become a target for OZL who are sitting on a pile of cash and seeking to extend their Cu interests. DML's Boseto project has progressed well and is due to commence production next year.

Any comments? Interest? Huang Chung? Others?

I haven't followed DML closely for quite a while now. I ended up going a bit cold on DML, because I felt that, while they have plenty of copper, it just seemed that the nature of the deposit was a like a thinish ribbon of copper that stretched for kilometers. It seemed to me that you would have to move a lot of dirt to get the copper out. As I recall, the studies indicated a managable cash cost, but that just didn't gel with me.

That was a long time ago now, so things would have changed considerably by now.