Hi Green,The hedging prices were still around $2k AUD. If it...

Hi Green,

The hedging prices were still around $2k AUD. If it only becomes profitable at $2400 AUD, then, will DCN be undertaking some hedging?
Its sort of semantics, as the U/G could have been sold at Spot, and the Open pit into the hedging.... which then means, will the U/G be viable even at $2400 AUD? As from memory, the POG was around $2400 when the decision to stop U/G mining was made.

I realise that a lot of studies, infil and met work have been done, to sure up the U/G, but.... I just struggle with all of it.

doublejay average grade is 1.2g/t, which is already below your 1.3g/t, but of course, its an average.



Only $10m is set aside for all of NTMs projects, and none of them are planned to be in the mine plan until FY2023.

Lots of work to be done before any of NTMs assets start providing ore (thought I think 15 months is achievable for perhaps 1 pit)

The $10m for the U/G makes sense, I wonder if that will cover all of the U/G portals (I know some are already accessible).

I guess the skeptic in me just looks at the use of funds... and think, we know they lost money in the March Q, and unless they have a great June, they will again, so... really, the money is simply about ensuring they have capital, no more, no less.

Perhaps if we see the inclusion 5+ new rigs that are already on the ground, as 300,000 metres is not a small target drilling wise, can prove me wrong.

I mentioned in earlier posts, that.. there is also $20m of debt due by Dec 30. I think LJ realized pretty quickly, that internally, this won't be generated.

We will see!