I am in line with your thought that any takeover is good so long as the price is right and the company is fairly priced. At this point, taking Phoenix Ridge potential and the Westralia U/G reserve into account, the LOM is more than 5 years.
Using the 5yr price modelling, DCN should be worth at least $1.15 and I will be happy to let go of my shares if any miner comes in with this offer.
On the other hand, to avoid takeover, its SP will have to increase drastically to make it expensive for any takeover attempt. Given current investor sentiment, that is impossible. The one consolation that DCN may not be a takeover target is that it has nothing exciting (ore quality is not that exciting) to offer to the other miner: any reasonable profit is going to be achieved through hard work. However this may change if there is any exciting gold find. By then, DCN valuation would have change drastically.
DCN Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
