Member Info for ceckyspunt

fairfax value 79p 24/5/10

this is not a share for the t traders... buy and hold, and your patience will be rewarded! having said that, at 40p this is a no brainer so long as your sure that WWIII is not about to happen... but if it does then we are all dead anyway!

fairfax value 79p 24/5/10, blackswan value $1.35 (82p) 24/5/10, Argonaut value $1.22 (74p) 25/5/10....this is well under value and has recently been shorted down to this silly low value, in fact ever since george soros took nearly 8%!... but with another boseto #2 a strong possibility then DME should easily be a multibagger over the next year!

that is old news based on SP of 56p... there are 3 new broker notes out in the last 2 days! http://www.discoverymetals.com.au/irm/content/reports_broker.html

although we dropped 5p earlier we are still above the level we were last week... and since i sold some at 43 yesterday i bought a load more back today... but im a little concerned about the reckless negetivity in the markets and media at the moment... korea has been in a state of war for over 50 years and it never bothered the markets before, so why now? the euro was a bad idea ten years ago, and is a bad idea now, so whats changed? spain portugal ireland and greece are bankrupt, but thats nothing new, they have been for years... so whats new? lets look at the positives... china is now no longer a truely communist state, euroland is waking up to the fact that the euro is not working and action must be taken, in the UK we also are emmerging from a decade of waste, the USA is growing slowly, and the world generally is taking steps to resolve the problems we face... all is not as bad as it all seems sometimes... tho we may see some pain for a few people in coming months we will recover!

broker note by fairfax raises valuation from 61p to 79p as a result of the upgrade announced by DME on monday!

BFS update... "Boseto Project capacity upgraded to 3Mtpa (from 2Mtpa previously)" full BFS revised to July 2010... underground mining at Zeta will extend life of mine from 10 to 15 years... DFS compltetion due june 2011... well funded, EPC contract is approx US$85m, cheap as chips... the only negetive is the delay of BFS by another 2 months, and perhaps general market jitters!

i rolled the dice one more time today and added 29,000 more DME shares to my portfolio at under 40p, and i cant believe my luck! the story this week is one of institutions shorting and selling everything in order to bid for euro and dollar treasuries, which due to supply outpacing demand offer great guarenteed yields, and the trillion euros and dollars were dueley raised for the EU/IMF bailout... and now its back to business... copper up 5% to £310, dow going north, euro/dollar also positive... had a roller coaster ride today, sold my 2 remaining uneffected stocks to average down my losers...doubled up KAH then sold the lot with 10p profit, then douybled up FOGL and saw that rally 10p with spud news due monday...

we may get a rebound today, the recent treasury auctions of euros and dollars to raise cash for the EU bailout are now finished and have sapped the cash from all other markets, but today we should see some recovery... if we dont then things are far worse than i thought!

added another 20k today at 46.25p, tho it was recorded as a sell... copper up 3%, silver also up, euro has to be near its bottom, US dollar therefore cannot keep strengthening so i expect sopper to stabilise from here and DME to recover strongly... and BFS news due any day...

sold 2/3rds of my DME holding last friday, and im pleased i did... DML took a hiding on ASX on monday down 7c, and DME opened down 4p on LSE, copper now down 6%+ and below $295, so DME looks to be going further south IMO... will add as and when...

"It is anticipated that a couple of mines that were put on hold will be developed, including Discovery Metals operation in Maun, which is coming back on track with a uranium deposit quite likely to be developed." http://sundaystandard.info/article.php?NewsID=7607&GroupID=3

my plan appears to have worked... i sold all my profitable shares last week to pile into DME, my lowest price paid was 46p, yesterdays 5p rise put me back to breakeven on my present holding, but todays 4.5p rise puts me well ahead again... news very soon on BFS and financing, i suspect the BOD's want a firm SP for any placing/equity issue therefore i think the current surge will continue tonight in Oz and tomorrow over here... i really should sell some of these now as DME now accounts for nearly 30% of my portfolio, and that is uncomfortably high, but why would anyone sell these with such a great future?

getting a bit ahead of ourselves now... DME doesnt normally do those big day trader attracting swings... so i expect we will settle down a little now!

whoosh!... up 10% and loads of buys since 12 ish... BFS and finance news due any day now so is there a leak or is this just a correction in line with general markets?

i have been studying the DME charts... it is clear to me now that the recent high of 56p was above and outside of the trading range and therefore i should have taken profit at that level, but since BFS news could arrive any day i decided NOT to sell at that point... so i missed my chance, but instead i added at 51 and 46 and as a result have a rather large portion of my portfolio in this now! the current SP is near the bottom of the year long rising trading range, 43p being the bottom, so i expect that we will see a consolidation here and a strong recovery when BFS news eventually arrives... all the bad news in the world has been over played as usual by the markets, copper demand in china is expected to fall 13% over the next year as they tighten fidcal policy, but growth in the US appears to be excellerating and will cover the chinese reduction... the fear of Euro collapse is also over played as the germans french and spanish have all aggressively supported the Greeks, and the Greeks have also done their part... and in the UK finally we have an end to Browns waste and maybe even we will start recovery, a tory/lib dem partnership could work really well for our country as the lib dems will thwart the excesses of the tories... all we need to do now is dump the scots and our defecit will sharp reduce since they are the ones spending all our money!

i really dont think this tax will ever be implemented... good people of Oz will realise the error of this crazy tax and vote liberal at the next election... yet another great example of how labor parties around the world can destroy any motivation to invest in any country ruled by these idiots! --------------- the idea in case PM rudd hasnt quite learned the lesson from PM Brown is to earn more than you spend, not TAX more than you spend...

The Coalition would oppose the new tax on ''super profits'' from mining, with Opposition Leader Tony Abbott (liberal) declaring yesterday he could ''see no way'' to support change. After meeting senior executives from BHP Billiton and Rio Tinto at Parliament House, Mr Abbott said it was a ''very, very bad tax''. ''I can see no good arguments for this great big new tax, I can see no way that the Coalition could support it and certainly the only way to avoid it is to ensure that there is a change of government at the election,'' MrAbbott said.

copper down 2% today to about $310...

a red day today, who would be a buyer on election eve? but we will get a bounce tomorrow and for a few days after that, then at some point the new PM will have to tell everyone the real situation regarding the UK deficit and how WE are going to pay for it! real uncertainty here now, banks are being crushed in a wave of pesemism but come on guys, the banks will be looked after regardless of what politicians say wont they? as for resource companies, the US is growing, China is getting its economy under control but is still growing massively, India is also growing massively, and the UK and Europe will slowly recover and have started recovery, so the outlook beyond today is actually very good... more up than down at these silly prices...