DMC’s Re-Listing Hangs in Balance as Guinea Licence Delays Persist
DMC Mining Limited reports steady progress on its Guinea projects’ licences amid ongoing ASX re-admission efforts, despite critically low cash reserves.
- Firawa and Labe reconnaissance licences remain valid; exploration licence applications progressing
- Shares suspended pending completion of acquisition of Guinea projects
- Cash on hand critically low at A$4,000 with A$600,000 drawn on loan facility
- No fieldwork conducted on Ravensthorpe project during the quarter
- Company engaged in ongoing dialogue with ASX for re-listing and plans new prospectus
Licence Status and Project Acquisition
DMC Mining Limited continues to navigate the complex regulatory landscape in Guinea as it awaits the granting of exploration licences for its Firawa and Labe projects. The company’s existing reconnaissance licences remain active and valid, and the exploration licence applications are progressing through formal approval processes with the Guinean Ministry of Mines. DMC maintains regular dialogue with senior government officials, expressing confidence that the licences will be granted shortly, a critical step for advancing its critical minerals development strategy in the region.
The Firawa Uranium-Rare Earth Element-Niobium project, acquired under binding agreements announced in June 2024, holds promise as a potentially globally significant deposit. However, the acquisition remains incomplete, and DMC’s shares remain suspended on the ASX pending this transaction’s finalisation.
Financial Position and Operational Activity
Financially, the company is in a precarious position. With cash reserves dwindled to approximately A$4,000 at the end of September 2025, DMC has drawn A$600,000 from an A$800,000 unsecured loan facility with Aries Finance Pty Ltd. This reliance on external financing underscores the urgency of progressing the acquisition and re-listing to restore investor confidence and capital access.
Operationally, DMC has paused activity on its Ravensthorpe nickel project in Western Australia to focus resources on the Guinea projects. No exploration or evaluation expenditure was reported for Ravensthorpe during the quarter, reflecting a strategic prioritisation of the critical minerals assets in Guinea.
Regulatory Compliance and Re-Admission Efforts
The company withdrew its August 2024 prospectus due to delays in licence approvals but plans to lodge a new prospectus aligned with ASX requirements. DMC remains in constructive dialogue with the ASX to progress re-compliance and re-listing. The company’s commitment to completing the acquisition and achieving re-admission is clear, though timing remains uncertain.
Investors will be watching closely for updates on licence grants, prospectus lodgement, and any shifts in financial health or project activity. The company’s ability to secure the necessary approvals and capital will be pivotal in determining its near-term trajectory.
Bottom Line?
DMC’s path to re-listing hinges on Guinea licence approvals and financial replenishment amid tight cash constraints.
Questions in the middle?
- When exactly will the exploration licences for Firawa and Labe be granted?
- How will DMC address its critically low cash reserves if re-listing delays persist?
- What impact will continued suspension have on investor confidence and project momentum?
