Hey Green, really feel for you. DCN has been a rollercoaster for...

Hey Green, really feel for you. DCN has been a rollercoaster for all holders. That being said, I very much dislike the recent brief update which 'explained' the reasons for no longer mining the open pit, which, from memory, is supposed to be the base load ore feed for the next 2-3 years?
With potentially 100m+ having been spent on the pre-stripping for the main open pit, plus, this quarter supposedly to have been DCNs best in a long time, I still struggle with their reasoning. They did not once mention grade reconciliation, which... must mean its reconciling? But if it is (open pit & U/G), then... it should still have been profitable. Something seems rotten with Doublejay.



Just seems to me, there is a lot more to this, or... the company is not being absolutely clear with the market (see how careful I am being with my wording). For starters... why was DCN spending $6m+ per quarter on exploration!!

If I am even close to understanding things, they actually have produced free cashflow this quarter?
The update states they have paid off $12m in debt, plus have $17m in cash/bullion. I can only think that they must owe huge amounts of cash to their suppliers/contractors and they are saying.. enough is enough.



Mine plan.... is in tatters!


Putting a Geo in charge of the company does not seem like a solid fix for a company that is not profitable....

Good luck to all holders. I have no doubt many would like to just see DCN T/Oed, but... rarely does this happen quickly, just look at BDC!
That being said, I think GMD will be taking a look, though, there is still going to be a lot of capital required to rebuild DCNs plant into a long term viable project. (I only hold a few shares in my Superannuation, otherwise I would much prefer to have a 'no position held stance'.