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Business Description: Discovery Metals Limited (DML) is an Australian based copper and silver production company from its 100% owned major asset, the Boseto Copper Project. The company also focuses on the development and exploration around the Boseto area in Botswana.
Strategy Analysis: DML is focused on developing the Boseto Copper Project in Botswana. DML also aim to discover and develop other economic mineral deposits.
Discovery Metals reported a net loss of US$14.58m for the half-year ended 31 December 2012, up from the US$7.0m loss for the corresponding period in 2011. This result is consistent with the ramp up in activity, manning and costs by the company as it commenced production at Boseto in June 2012. Revenues from ordinary activities were US$114.0m, compared to US$309.0m from the same period last year. Basic and Diluted EPS was (3.03) US cents compared to (1.56) US cents last year. The net operating cash inflow was US$11.39m compared to an outflow of US$4.13m in the pcp. No dividend was declared.
The Age 21/05/2013 |
Optus says its 4G mobile network will reach 70 per cent of the Australian population by mid-2014. The carrier revealed it has upgraded 4000 3G sites to 4G in five capital cities and in Coffs Harbour, the Gold Coast and Byron Bay. It also plans to make its 4G network suitable for customers with dual-band 4G mobile devices.
The Age 21/05/2013 |
Hong Kong private equity firm Quantum Pacific Capital says it is best placed to resolve a dispute over the ownership of a troubled $5 billion copper and gold project in Java and is negotiating to grab back as much as 80 per cent of the project on behalf of former owner Intrepid Mines.
The Age 21/05/2013 |
Shareholders in Transfield Services were bracing themselves on Monday for an earnings downgrade following downgrades by other mine services operators such as UGL, WorleyParsons and the smaller Coffey International last week.
The Age 21/05/2013 |
The whole retail recovery story has wandered perilously off script over the past quarter. The start of the year held the promise of green shoots at the discretionary spending end. But as we near the close of the financial year, the fragile recovery appears to have been nipped in the bud.
The Age 21/05/2013 |
New Leighton Holdings chairman Bob Humphris has moved to dispel fears that its directors remain at war with its German parent Hochtief, insisting the relationship was "collegiate" despite the abrupt resignation of three fellow directors two months ago.
The Age 21/05/2013 |
Australian shares flirted with five-year highs on Monday, returning to levels not seen since the onset of the global financial crisis, as investors were spurred on by signs of strength in the US economy.
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