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Volume 458.3K
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As of 12:10 AM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

discovery metals ltd (DML) Snapshot

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07/7/14 - A$0.07
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discovery metals ltd (DML) Details

Discovery Metals Limited is engaged in the acquisition, exploration, development, mining, and initial processing of base and precious metals in Australia and Botswana. It explores for copper, silver, gold, nickel, and manganese ores. The company’s principal project includes the 100% owned Boseto copper project located in Kalahari Copperbelt in north-west Botswana. It also has prospecting licenses covering approximately 26,150 square kilometers in Botswana. The company was formerly known as Discovery Nickel Limited and changed its name to Discovery Metals Limited in 2006. Discovery Metals Limited was incorporated in 2003 and is based in Brisbane, Australia.

473 Employees
Last Reported Date: 08/28/14
Founded in 2003

discovery metals ltd (DML) Top Compensated Officers

Chief Executive Officer and Chief Operating O...
Total Annual Compensation: $405.3K
General Manager of Boseto Operations
Total Annual Compensation: $79.0K
General Manager of Operations
Total Annual Compensation: $73.4K
Compensation as of Fiscal Year 2014.

discovery metals ltd (DML) Key Developments

Discovery In Exclusive Discussions To Sell Its Boseto Copper Operation To Cupric Canyon Capital

Discovery Metals Ltd. (ASX:DML) said that it is engaged in exclusive discussions with Cupric Canyon Capital, LLC in relation to a potential sale by Discovery Metals of its Boseto Copper Operation to Cupric. Discovery Metals said, "The Company has entered into a $5 million short term working capital facility (the Facility) with Cupric. A condition to the Facility agreement grants Cupric a period of exclusivity to allow it to complete due diligence, and to allow time for both DML and Cupric to finalize and agree definitive terms of the potential Transaction." The exclusivity period extends until the earlier of the execution of a legally binding sale and purchase agreement with Cupric, and January 31, 2015. The Facility has a final termination date of August 31, 2015. Ironstone Capital are acting as advisor to DML in relation to this transaction.

Discovery Metals Ltd. Reports Consolidated Audited Earnings Results for the Year Ended June 30, 2014

Discovery Metals Ltd. reported consolidated audited earnings results for the year ended June 30, 2014. For the year, the company reported profit before income tax expense of USD 19,008,000 compared to loss before income tax expense of USD 227,733,000 a year ago. Profit after income tax expense was USD 15,002,000 compared to loss after income tax expense of USD 224,280,000 a year ago. Profit attributable to members of the Consolidated Group was USD 15,002,000 compared to loss attributable to members of the Consolidated Group of USD 224,280,000 a year ago. Basic & diluted ordinary earnings per share attributable to ordinary equity holders were 2.73 cents compared to basic & diluted ordinary loss per share attributable to ordinary equity holders of 46.58 cents a year ago. Net cash used in operating activities were USD 7,654,000 compared to net cash from operating activities of USD 121,952,000 a year ago. Payments for exploration were USD 2,727,000 compared to USD 9,016,000 a year ago. Purchase of plant and equipment and mine development cost were USD 14,761,000 compared to USD 140,488,000 a year ago. Revenue from continuing operations were USD 155,066,000. Net debt as on June 30, 2014 was USD 104,979,000 compared to USD 129,541,000 as on June 30, 2013.

Discovery Metals Ltd. Auditor Raises 'Going Concern' Doubt

Discovery Metals Ltd. filed its Annual on Aug 28, 2014 for the period ending Jun 30, 2014. In this report its auditor, Ernst & Young LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.


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