General Discussion Topics, page-2448

More metrics and a story. Did alot of reading and typed from memory so facts could be off. DYOR.

in 2015 DCN had a MC of 40m. 23c a share. 96m SOI. Resource was 2.6g/t for 2.1moz. 71% of shares in T20. Peer was BGL at 2c. Sound familiar?

in 2018 completed a $200m mine.
They hit over $3.00 and a 550m MC, and that at the time was considered crazy cheap. BGL crept up to 20c (now $1.22)...DCN were shooting for a AISC of $1000. they were making $2mill profit a WEEK. They then had a 3.5moz resource and 1.2moz reserve. Some claimed 4 year life, the company claimed 8 year will further drilling etc.

2022 inflation, a $2000 AISC, Going past 200m deep for low grade up to 330m, cost of fuel and wages they shut down the open pit and kept U/G. SP bombed and now a TO target for 10c - ~100m bucks.. Even still look at a 2 month production window from Sept 2022.



Also.
in 2020 (POG was USD1600/oz) Echo Resources had 1.8moz at 2g/t with an old plant and sold to NST for $246m. NST did some games and stole it for that price. Should have been 350-400m. That's biz though. BFS shows a low AISC (open pit).




Message is no matter where I look at peer comparisons, getting into GBR now is the key. The MRE will make a big difference, more than I thought.

The number one standout for GBR IS the extremely high grade, shallow, close to infrastructure and other plants and open. Cash cow.

What a ramble....lol.