I think the chance for a TO of DCN has passed. The real...

I think the chance for a TO of DCN has passed. The real opportunity I think was for Goldfields before the finance was raised for the mine.

You have to remember that Avoca (under RW’s ?? stewardship....need to check so don’t quote me) turned acquirer after developing Norseman and even ended up in a bidding war with Ramelius for Dioro Exploration NL After launching the bid for Dioro in 2009 Avoca ended up finally getting to 90% compulsory acquisition during 2010 after saying it wouldn’t pay more when it failed to reach 50%. They ended up paying $A126 million for Dioro and also tried and failed to buy the other 51% of Frog’s Legs from La Mancha.

Based on the past form of this management I can see this company growing by acquisition themselves and it might be a good play for a long term hold strategy. Better to have a strong (overvalued) share price as it protects you from takeovers and gives you strength if you ever consider offering your own script in any TO bid.

Need to think outside of the box when it comes to this company in my opinion. They like getting stuff done and getting stuff done quickly. Their own TO plans wouldn’t be out of the question once the mine is bedded down.

Eshmun