Proactiveinvestors recommends

Additional Information

Market:	ASX / AIM
Sector:	General Mining
EPIC:	DML
Latest Price:	1.64 (0.92% )
52-week High:	1.66
52-week Low:	0.98
Market Cap:	722.37M

1 year chart

1 day chart

Discovery Metals

Discovery Metals (ASX: DML) combines a portfolio of mineral assets in Africa and joint ventures in Australia. Discovery Metals is focused on developing the Boseto Copper Project in north west Botswana and to create shareholder wealth through discovery and development of economic mineral deposits.

The Company’s major asset and current focus is its Boseto Copper Project in north west Botswana. The company also controls the Dikoloti Nickel Project in north east Botswana. There are two smaller Australian projects which are joint ventured with the JV partners potentially earning into 51 percent equity.

FD Capital retains ‘Buy’ for Discovery Metals after Boseto news

Friday, May 22, 2009

Fox-Davies Capital issued a note on Discovery Metals Ltd (ASX/BSE: DML; AIM: DME), following the group’s report of assay results from the most recent 91 infill diamond drill holes at the Plutus prospect, part of its Boseto copper project in northwest Botswana, which confirmed the continuity of copper-silver mineralisation over a 12,000 metre strike length.

The broker retains its ‘Buy’ recommendation with an unchanged target price of £0.23 per share.

The results have shown many intersections above 2 percent copper, with some significantly higher than this, it said, adding that this is important as it will enable Discovery to plan a high grade starter pit.

Fox-Davies modelling has shown that the net present value of the project is extremely sensitive to a 2percent copper starter pit and how long it will last before copper grades drop towards the average grade for the resource.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.