DCN dacian gold limited

Quick rough calculation using the metric EV/AISC-adjusted...

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    Quick rough calculation using the metric EV/AISC-adjusted production, DCN market cap is around $170m with $58m of net debt. Annualising this quarter's production gives around 146 000oz at AISC $1 519/oz, giving AISC-adjusted production at 96 000oz. Thus, the company is valued at around $2 375 per AISC-adjusted oz of production. For a mid tier miner, this is in the lower end of the peer valuation range. But given its high risk, I would say it is fairly valued and will require more stability for it to be rerated.
 
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Currently unlisted public company.

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