Super fine accumulation going on. Since DCN Re-capitalised and...

Super fine accumulation going on.

Since DCN Re-capitalised and started trading again, this is the 8th time the share price has touched or crossed 40 and then again back to 35. They want to frustrate people and buy up around this level. This is buying happening and not selling. Stacking the sell side with few big lots masking as sell orders. They want the retail to load on the sell side at 35 for them to gobble up all. The buy side is stacked up with their order from .345 to .33. This can be only done in cahoot. There must be few big institutions orchestrating this jig.
As soon as they gobble up 35 another lots are stacked. If they were selling they would have sold it down to 30 or below.

Therefore, Patience is the name of the game.

The DCN business is in the best ever shape it has been. With near net cash balance (Cash on hand - Debt), operational improvements, outstanding drilling results, restructuring of hedging....110-115K ozs production with AISC around $1500, all for a market cap under $200 million. Time will tell....DCN at 35 is a value buy.
Below snapshot I have stolen from RED 5 recent presentation. I don't hold RED5 and will not buy until they start producing from King of the Hills.( A good 2 years away)


Seen these shenanigans at SLR, RMS & PRU when they were around 40-50c. They can carry on for months & months, even for a year.

That is why a lot of patience is required which most of us lack. Patience of 12 men for 12 months can reward 50-80% upside without any corporate activity. Still maintaining my target of 50c by 31st Jan 2021.

All the best.