Ann: Preliminary December Quarter Update, page-12

This is a good report. Starting to look like DCN has turned the corner. Great to see that they are significantly reducing debt - and the amount of gold hedged as well.

HIGHLIGHTS
• Production of 27,162oz for the December quarter and year to date production of 59,961oz is tracking
well for FY2021 guidance of 110,000-120,000oz
• Repaid $15.7M in debt during the quarter, total debt now stands at $23.4M
• Cash and gold-on-hand at 31 December 2020 totals $37.9M for a net cash and gold position of $14.5M,
a $15.1M improvement from 30 September 2020
• Hedge commitments reduced to 55,488oz at an average price of $2,140/oz
• Merger with NTM Gold announced on 16 November 2020 scheduled for completion mid March 2021