My sentiment is none at the moment. Yes I do have it in for Rohan and would like to see him moved on, not to prove how smart I am (if I had been smart I wouldn't have been caught out by AIS/ARE), but because I don't like being blatantly mislead.
DCN is now a trading stock as we are all in the dark as to the resource. Yes if I had bought in at 38c and sold out at 60c I could claim to be some sort of trading genius, but I am not a trader. I look to buy quality assets that are undervalued that I think will re-rate in the next 12 to 18 months and hold for the rerate. There is nothing wrong with being a trader, but it is not my investment strategy.
If DCN becomes an investable stock I will buy back in. While I might miss the very bottom, any positive change in sentiment is going to take a long time to be fully reflected in the SP.
It is not the reserves that have been reduced by 15%, but the grade. If you reduce the average grade by 15% then you should expect the reserve to decline by more than 15% as ore on the margins is no longer economically viable.
We seem to have opposite opinions on many gold stocks at the moment. It is going to be an interesting 6 months.
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