Discovery Metals (DSV) - Cordero Bringing Size & Margin in Focus

Matthew Gordon,
Ptolemy Capital

6 Months ago

Run by an enterprising management team (Taj Singh is driven, bright and ambitious and is ably supported by geologist Gernot Wober) with an excellent share registry and market profile. They also have a strong balance sheet and abundant with cash (over $80M in cash) and strong paper. Taj is keen to push the size of the system and explains why they are keen to re-do the previous PEA which had been commissioned by the previous management team. They want to come at this a different way and feel that it may answer a few of the technical questions about how to mine this as a low cost operation. They want this to work at $17/oz. To do this they are going to focus initially at the higher-grade core, and look at the approach to their 'mega pit', strip grade and feeders, and understanding the veins to be able to deliver a rigorous PEA 'PLUS'. We think they will too.

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