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Post by donaldslump on Nov 21, 2008 19:14:04 GMT -5
The key it seems to survival is not going bankrupt........Looking at coach247 recent posts though for ECU on Agoracom seems to paint this dismal picture that the whole Junior market is pemanently damaged. Im assuming Coach is someone informed and reading his last few posts isn't encouraging. These are beyond dismal times so really the financing is the key here. Can DRV survive going forward? Or should I say going down?
Not trying to be a downer, but I get the feeling the whole picture is not being shown here. They need to add a tumbleweed icon on here!
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Post by downer on Nov 21, 2008 19:49:46 GMT -5
Its best to get out of DRV now before too late Donald. You are getting a good price at 22 cents. Please sell now Donald! You must sell!!
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Post by Gr8rMinds on Nov 21, 2008 19:51:25 GMT -5
the only way I would sell was if we had bad management, or a ceo who didnt communicate with us. that is the only way I would sell.
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Post by donaldslump on Nov 21, 2008 20:23:29 GMT -5
Geez thanks guest......sarcasm is great! Really trying to make some points here , not sell.
Heres a joke for you......
q: Whats the capital of Iceland?
a: About $4.50 !
hahahahahahahahaha...........ha?
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Post by pasacancha on Nov 21, 2008 20:32:49 GMT -5
There is nothing to worry about. We have a great property and excellent management who are capable of pulling us through. Let it go.
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atlas
Junior Member
Posts: 3
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Post by atlas on Nov 22, 2008 0:09:35 GMT -5
We have enough money at the current burn rate to keep 2 drills going to around the end of May. After that we'll need more cash.
The problem as I see it, is that we need to keep this going for a year and hopefully by that time the current economic crisis will begin to pass.
But we do have options.
Raise more money (which will be difficult in this market to say the least), enter into a partnership, or try to conserve what cash we have (maybe switch back to only 1 drill), or a combination.
This does concern me, but not enough to sell. We have more than most junior exploration companies, both in terms of cash and more importantly, in the property itself. It's worth will be realized.
We will get through this.
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Post by michtechguy on Nov 22, 2008 11:53:24 GMT -5
Atlas very good points. I think management at this point has to assume this environment may be around for quite awhile. Conserving capital should be key. Having only enough money until May is a problem. A of an eye and May is here. A partner maybe the only way for the company to move forward and live to fight another day. If we think that the economy is going to get better soon, we should think again. We are now living in the first modern day depression.......not as hard as the depression your grandparents told you about but pretty close. Thank God we don't live in the US!!!! We aren't experiencing the same pain!!! YET!!!!!! Sorry don't mean to be a downer but we must be a realist!!! I hope the management, before Christmas lets us know what is in the cards for Duran and MacMillan. I hate being left in the dark!!!!! Anything!!!! At least George could tell us about his plane ride to Peru! Was the climate pleasant? Something.... ? Keep smiling.
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Post by Franjo11 on Nov 24, 2008 23:15:13 GMT -5
I haven't posted in a long time, but I have been following the company news. I sold my DRV and MMG positions at the last peak ($1.20 and $0.70 respectively). It just so happened that in the short-run I saw more potential in Quebec shale gas plays than here, so that was the main reason why I got out. I don't think anyone expected the deleveraging to affect the commodities in such an extreme way. But the storm will pass and the new foundations will be built. I think it is clear that more regulation is needed in the financial industry and in the long-run this can only be good for an average investor. To put things in perspective, a company like FNX Mining used to trade for around $30 and now it's under $3. So for DRV to trade at 20c from a recent high of $1.20, it is not that bad. But to get back to some reasonable levels, I think it's going to take at least a year from now. We have a worldwide deflation happening. A lot of 'electronic money' has simply evaporated and the process of replacing it is going to take a while. MMG/DRV were slow to execute in good times, so they should not rush things now. They should focus on cash preservation and not dilute the shareholders value by raising money in this deflated market. In the longer run this is still a viable play, because it has great assets. I just hope they will act in the best interest of shareholders and at this point it is best not to rush until the market sorts itself out.
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