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Someone selling via a BOT. They are trying to prop the price at $1.44 to entice buyers they can sell into.


Also think the drop in grade to to 14.8gpt from 17.5gbt has surprised some, fundamentaly that makes little sense given DRM is hot property and primed for RMS or maybe ANOTHER to take it over, what DRM holders need to be aware of is the possibility that RMS could sell out gradually for a profit or even dump the lot via a crossing at a lower price, still doesnt alter the inherent value in the stock---IMHO.

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Strategic Review


In recent months, ASX-listed Ramelius Resources Limited has acquired a substantial shareholding in your company and as at the date of this letter, Ramelius' holding stands at 8.12%. Ramelius' shareholding in Doray has been acquired through a number of on-market acquisitions by several nominees commencing in late June 2011, at prices up to $1.38 per share.


Your Board is fully focussed on delivering production and cash flow from the Andy Well Project as soon as is prudent and practicable. However, in light of recent developments at the corporate level, the Board has determined to appoint Gresham Advisory Partners to assist it in undertaking a broad-ranging strategic review, in order to ensure that the Company continues to create significant shareholder value. This review will canvass a number of potential funding, growth and development options for the company




IMO significant phrase in letter to shareholders.


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DRM seems expensive to me when you compare to other goldies

Hi melua, comparing gold explorers (as DRM is) is fraught with problems, but any gold explorer which has an orebody consistantly throwing up drill holes of over 17gpt, is under takeover threat from RMS, is about to announce more feasability study results in the Andy Well project, also likely to announce further high grade results from its Side Well and Abbotts projects, cannot be valued in any other way than what the market is prepared to pay, short of a formal T/O offer.


SP making the anticipated move today ahead of the 2011Q4 results--IMHO. (holding.)


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High Grade Results from 2011 drilling


The Company has received results from holes completed during the latter part of 2011, with a number of holes returning significant high-grade gold intersections, including several holes designed to lift the status of parts of the recently defined inferred resource to indicated status (Figures 1 and 2.)


Significant results include:


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ MNDD099 - 1.7m @ 91.1g/t from 323.1m


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ MNDD104 - 0.5m @ 80.6g/t from 265.5m


ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ MNRC116 - 2m @ 75.0g/t from 264m



Another set of high grade drilling results from DRM out today--(am holding)



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