Ann: Trading Halt, page-27

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Davisite

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08/07/19

12:15

Post #: 39419287
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Originally posted by eshmun ↑

85% of 1.389Mozs is 1.181Mozs . Over 8 years this is 147kozs of average annual production over LOM.

If you concentrate a good proportion of that production in the first 5 years you can aim for 160-170kozs in the first few years and still retain an 8 year mine life.

Once again it just depends on what costs they are now expecting. The mine life is not the issue, getting the gold out of the ground, the margins obtained and how fast they can pay off the sunk costs are what's important. I'd say the funds abandoned the ship without thinking and soon the vulture funds with more appetite for risk will start moving in. We've seen it before with DRM, TRY etc but in those instances the market gave those companies more of a chance before walking away, ie their share prices weren't unfairly thrashed like DCN's. Let's face it commercial production was declared in early January and the price got thrashed less than 6 months later.

Do you really think our forgetful director is stupid enough to put $1million of his money into this to hand the company a few weeks later to administrators? Maybe he is so forgetful that he forgot to look at what is going on in the office as well? Esh

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Don't reserves have to be economic? Lower the grade and some of those previous reserves will have to go.

The forgetful director may well be this stupid. I think the update will be sold as all rainbows and unicorns, the real unknown is what is the market going to think.

DCN Price at posting: 52.5¢ Sentiment: None Disclosure: Not Held
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Ann: Trading Halt, page-27

Top Stories

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