DMM 0.00% 52.0¢ dmc mining limited

falling share price

  1. 236 Posts.
    I'm getting nervous about the weakness in the share price.
    on face value i like the Mayoko story but doubts are starting to creep in.
    i've heard stories that others have been burnt badly from African leases where the historical data is very unreliable and may even have been tampered with to sell at exaggerated prices.
    So far they will have already qualified for a payment of $500k plus 4M shares as the MC would have been over $25M when the shares reached $1. So they have already got in excess of $2.5M based on a 50c share price.
    If the work being done by Range Limited to convert the historical data to JORC status doesn't come up with the goods then this is dead in the water. How long is this going to take. They started in December last year.

    I just reread the terms of the deal and they only need a 400Mt inferred resource to get more payment. What if the indicated resource is only 50Mt or less. I believe it is the indicated value which is most important.

    I just tried to ring the company but the secretary said no one was there to take my call.

    I've sent an email and will try to call again tomorrow.

    Appreciate any other info or thoughts anyone has on this.

    If Mayoko is as good as originally thought why has the sp fallen so much without any bad news?
 
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