Ann: GMD:Notice on Status of Conditions for Dacian T/Over s630(3), page-7

East to justify fiduciary responsibility in delisting DCN. DCN is cashflow negative, so reducing expenses including annual cost of compliance with meeting obligations as a publicly listed company is in long-term shareholders interest (different story if you don't want to hold long-term, but want out at a higher price). Otherwise DCN will slowly get chewed up with capital raises, with GMD as the largest shareholder always taking full allocation, so slowly increasing their holding this way.

As a former DCN holder I sold up a year or so ago (though I apparently had a small parcel of DCN I forgot about, that is being converted to GMD). I have purchased further GMD, as GMD combined with DCN just needs a commonsense approach to extract value.

I never understood why DCN kept throwing money at drilling Mt Morgan's. At the time I thought and commented, that I believed the play was to wind down Mt Morgan's as quickly as possible. Then divert all resources to extract the shallow, open pit feasible, high grade oxide ore from Hub at the Redcliffe project, 100km trucking to DCN plant, and should have been a $1000 per ounce cashflow on 140K oz, for $140 million in cashflow. Then continue with the Redcliffe project and then spend money on exploration as justified.