AUSTRALIA
DRX.ax
0,02 AU$
0,00%
(DRX) | Price = 0.7c | Target = 6.5c | Negotiating Cyclone project buy=2Din | BUY=2C High Risk=C2=A
Publié le 04 juillet 2017
Cyclone project has the required approvals |
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On 10 January 2017, DRX announced it has been granted Environmental Approval for the development of the Cyclone project. DRX was granted a Mining Licence in November 2014, after it had reached agreements with the Traditional Owners.
DRX has proven adequate water resources within its tenement area.
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PFS updated; DFS requires development agreement |
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On 15 June 2016, DRX announced the results of its updated PFS.
Since securing all pre-conditions for a development, together with an updated feasibility study, DRX has been in active discussion with potential development partners. On 27 June, DRX advised that it now has 6 potential partners.
Beer & Co expects that DRX will name its preferred partner(s) later in 2017, considering finance, dry plant capacity and product need.
The DFS will be completed in conjunction with the preferred partner to optimise the value from sale of Cyclone�s Heavy Mineral Concentrate.
Click here to access copy of previous report :
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Cape Bedford |
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Beer & Co believes that DRX�s Cape Bedford silica and HM sands is an exciting prospect. DRX will execute its maiden drill programme later this month.
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Beer & Co.�s valuation 6.5c/share |
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Beer & Co.�s previous research on DRX, in August 2016, outlined the basis for our valuation.
Beer & Co is confident in the development of Cyclone given the tightening market for zircon and the number of parties interested.
Click here to access copy of previous report :
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Beer & Co conclusion : Strong BUY, High Risk |
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While there is significant uncertainty in our valuation, Beer & Co is confident that the firming zircon market will ensure a development agreement is concluded.
Beer & Co.�s valuation is a multiple of risked valuation.
Click here to access copy of report :
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Beer&Co.
ACN 158 837 186
Authorised representative Melbourne Venture Securities Pty Ltd
www.beerandco.com.au |
Author:
Pieter Bruinstroop
pbruinstroop@beerandco.com.au  |
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Copyright  2015 beerandco.com.au, All rights reserved.
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