DTM 0.00% 3.5¢ dart mining nl

over half a billion dollar resource?

  1. 14 Posts.
    I've been reading through today’s Dart's maiden JORC release and something doesn't seem to be right.

    If I haven’t made a mistake, then the maiden JORC would take the total indicated and inferred resources to have a current gross market value of over half a billion.

    Assuming that no further mineralisation is found and hence there are no further upgrades to the JORC release.

    According to the JORC there is 105 million tonnes @ 0.07% molybdenum

    Hence 105 x 1,000,000 x 0.0007 x USD$33,0000 = approx $242 million

    From the JORC there is also 105 million tonnes @ 0.06% copper, at say approx USD$7000 per tonne,

    Then 105 x 1,000,000 x 0.0006 x USD$7,0000 = approx $44 million

    But the true what the!!! figure comes from the silver.

    From the JORC there is 105 million tonnes @ 3.1 g/t silver, at say approx USD$32 per ounce,

    Then 105 x 1,000,000 x 3.1 / 28.3 = approx 11.5 million ounces x USD$32 = approx $368 million

    This would take the total indicated and inferred resources to have a current gross market value of close to $650 million.

    With the share price dropping by over 10% for the day’s close, either I’ve gotten my calculations wrong, or the market has potentially gotten it wrong, or the expected metallurgical results to be released soon are going to be appalling.

    Is my maths wrong? Or does anybody have other suggestions for the drop in share price?

    ---------------------------------------------------------

    This is not to be taken as financial advice, that is what you pay financial advisors and brokers for.


 
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