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As of 2:10 AM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

discovery metals ltd (DML) Snapshot

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08/23/13 - A$0.27
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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 primary project is the 100% owned Boseto copper project located in Kalahari Copperbelt in north-west Botswana. It has prospecting licenses covering approximately 26,150 square kilometers. 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 headquartered in Brisbane, Australia.

571 Employees
Last Reported Date: 02/28/14
Founded in 2003

discovery metals ltd (DML) Top Compensated Officers

Chief Executive Officer and Chief Operating O...
Total Annual Compensation: $263.0K
Chief Financial Officer and Company Secretary
Total Annual Compensation: $220.6K
Compensation as of Fiscal Year 2013.

discovery metals ltd (DML) Key Developments

Discovery Metals Limited Appoints Royston Denysschen as Non-Executive Director of the Company

Discovery Metals Limited announced the appointment of Mr. Royston Denysschen as a Non-Executive Director of the Company. Royston Denysschen has 18 years' experience in commerce and logistics in Southern Africa. He has been key to the start-up, development, management and as director of successful logistics and peripheral businesses throughout Southern Africa.

Discovery Metals Ltd. Announces Appointment of Jeremy Read as Executive Chairman

Discovery Metals Ltd. announced the appointment of Mr. Jeremy Read as Executive Chairman of the Company who will undertake this role until 31 December 2014, after which the Company will appoint a new Non-Executive Chairman on a permanent basis. Since 30 October 2013, Mr. Jeremy Read has been the Acting Non-Executive Chairman of the Company. Jeremy Read is also a Non-Executive Director of the Company, a position he has held since 1 February 2008.

Discovery Metals Limited Executes Term Sheet with Lenders for Debt Re-Profile

Discovery Metals Limited announced that it has executed a legally binding term sheet with its lenders for the Debt Re-Profile. The term sheet is subject to the parties entering into definitive, long form documents which reflect the terms of the term sheet in all material respects by July 11, 2014. The long form documents will include customary conditions precedent for a financing of this nature. Under the Debt Re-Profile all continuing defaults were waived on execution of the term sheet, the revolving credit facility will cease to exist and the project finance facility will be amended and restated to reflect the terms and conditions of the term sheet, the current gross interest bearing debt owing under the facilities of approximately USD 159 million will be reduced to USD 100 million, the new balance will have a loan term of 9 years (Loan), with interest to be capitalized for the first 4 years of its term, interest rate to be LIBOR plus 5% with interest capitalized until September 2018, scheduled principal repayments will be made commencing in year 5 of the Loan.


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