Now there is an announcement which should cause headlines but...

Now there is an announcement which should cause headlines but maybe won't.

1. For shareholders, the gist is the board has decided to cease earning revenue from the mill, even though the mill could have been kept going profitably with third party ore. From now on the focus will solely be on spending shareholders' funds. Luckily there is plenty there.

2. No wonder instead of shareholders we read references to "the group" (there is no group ... the GMD takeover has failed) and "stakeholders".

3.Although all of the issues associated with managing mill feed, costs, uncertainties, are what every successful mine has to deal with, including operating a mill, exploring for more ore, and planning for the future all at the same time, apparently that is all a bit too hard for DCN.

4. It is time to stop pretending the GMD - DCN - SBM --> Hoover house plan is a done deal. The GMD TO is dead now ... there is zero chance of reaching 90% because there is zero chance of Kin / Delphi accepting the current offer. I expect the remaining 20% will cost 30 - 40 cents a share.

5. GMD majority directors were probably never going to have the DCN mill process Kin ore, even though that ore could have allowed DCN to make money from the mill for some months. It is been clear they were slow walking a decision so potential ore suppliers would have no chance of getting mining organised in time.

6. Cutting off revenue does not "buy time". It does the opposite, because sooner rather than later the company will run out of planning and exploration funds.

7. The shot gun approach ("so many reasons") is pretty lame. For example, the need to expand the tailings facility has been known since the DFS, and the expected cost was $3 million.

8. Perhaps the most insulting reason is that because Ulysses ore can't be planned for, the mill might have to shut down in the future if enough third party ore isn't forthcoming down the track. How on earth is that a reason to shut the mill down now, instead of if and when third party ore runs out?This seems to me a board not even trying to pretend to be acting in shareholders' interests.