SEEMS TIME TO GIVE UP, page-412

Cheers for the reply John.
I don't mind a little confirmation bias, as I also view the USD as having some severe weakness into the future, and thought long and hard about how to best benefit from it (as all things being equal, the AUD will likely do well in a higher priced commodity bull market), whilst still having a strong base back in OZ. So I chose to hold some mid tier West African producers, their debt is denominated in USDs, yet they face different issues to W.A producers (sort of hedging the portfolio). Basically, equal holdings of OZ producers and W.A producers.

As for OBM, I appreciate your thoughts on it. I had hoped the after Hawkes points earlier issues with EGS/OBM, they had DQ really do all the due dilligence possible before turning the plant on again, as Hawkes have invested very heavily into OBM. Could be upwards of $50m from memory. Obviously they are not gods, and can lose $$ like anyone, but.... it would seem OBM still did not do enough grade control and testing of the ore/blend... when you say you are still watching them, is that because, like DCN, you could see yourself holding again? Is it the tenements you like, or the assets (the plant and tax losses now more than equal the E/V almost 200%, not that it guarantees anything I suppose).

Well done on the work you have lined up. By the sounds of it, you are in high demand!

Regarding DCN, I have to ask, what is it that keeps you watching it? Yes, its just a trade, but... is is the assets? The low valuation? etc?

Just trying to get a better view of why DCN would be on your radar, compared to others.

I would be tempted to take a position if DCN got below $0.22-0.23, just on the simple metric that the E/V would be under $200m
(I hold in my super, which in hindsight, was still too much of a high risk position, should have just bought NST/NCM etc, hindsight of course).

@Greenflint - I forgot to add, a company like TRY, has actually stated to the market, that it was only viable if it could produce above 2200 ounces per month a while back. Its a small producer, but, I think it validates the fixed cost viewpoint. That is before all other costs like exploration etc.