There's no doubt the company requires a savior to rectify this...

There's no doubt the company requires a savior to rectify this mess.

Analysing the company's total net debt minus cash held over the last 3 quarters DCN is going backwards at a great rate of knots. June figures will be telling IMO.

September 2018 - $51.4 million

December 2018 - $47.9 million

March 2019 - $53.3 million

June 2019 Estimated Net Debt - $75.73 million

My estimates for June taking into account the increased outflow spend and what we know from the company regarding June quarter production estimate of 38,000 oz, the AISC and the $1,756 oz hedged gold price.

September quarter operating cash balance looks likely to be around $47,764 million. A cash position this low isn't enough funding for debt commitments, the rehabilitation commitment of $15 million, not to mention development @ $18 million and production @ $45 million a quarter.

At minimum an injection of $30 million appears to be desperately required for September quarter just for continued production IMO.

I'm not sure retail investors are going to chip for a raise. If you think the company can survive it's probably a great BUY at current prices as some have said.

However without clear direction from management and certainty of future funding, ZERO is a more appropriate valuation IMO.