Ann: Presentation Strategic Merger - Dacian and NTM, page-16

Its a kick in the ass for DCN shareholders due to the heavy dilution and with whatever benefits to flow from the merger to come at least 9-12 months away from mining the high grade ore (currently only an inferred resource).

DCN shares will fall and remain in the dunny into mid next year.

The merger tells you something about what LJ thinks is the problem with DCN's current ore resource/reserves.

I am lucky to have sold half my shares and while its still a useful number the total value is a small part of my portfolio.

No doubt others will have different views.

I think I used to own shares in NTM when it had a different name (14-11 years ago) - it was a lifestyle company with the CEO/geologist scratching around the ground to show he was doing somethin.

GLA.

loki