Cheers John.
I pretty much agree with you about the potential of DCN.
Perhaps having held in the past and being disappointed by the grades, it continues to cause my skepticism.
I take it that you view the U/G ops near the plant as viable? Can I ask what you think LJ will do differently to make this so?
@GreenflintProbably best not to dwell on the March Q too much! Don't want you losing your marbles.
![rolleyes.png](https://hotcopper.com.au/images/smilies/rolleyes.png)
I guess the shutdown of the U/G has been discussed to death, yet when I see BLK/WMX able to keep a mining crew doing with less than 2k per quarter, and still be slightly profitable, well... more ounces overall, even if barely profitable, are ok when you have all the fixed costs etc.
drilling per rig. Hard to quantify as it depends on what sort of holes your drilling. Obviously air core, easiest/cheapest which is why DCN has been able to paint up the 300k figure. Yet, from the stocks I follow that are drilling heavily, I don't think 5 rigs could do it in 12 months. So I am guessing more like 6-8.
I cannot agree with you about the internal cash generation, DCN has to have a decent buffer of cash, and until recently, it was dwindling. The $15m due Dec 30 was a big overhang.
Anyway, would like to respond to other posts on this thread, but... HCs page setup does not allow me too....