I dare not plant any positive thought on DCN at the moment given the consistency of the disappointments from them. Obviously my HOPE is that DCN can deliver.
My sneaky thought is that LJ may be gearing up to deliver good outcomes for the coming quarters. Sneaky in the sense that he may be front loading the expenses (i.e. spending as much as possible in stripping the mines and therefore the huge expenditure ($50M): got caught out in the cashflow in the early 2022 and had to go to the market to raise capital and diluting our shareholding! ) and therefore less for the future quarters leading to June 2023, 2024 and 2025, so that the cashflow in the coming quarters will do extremely well for him to qualify for his share options and hopefully for us as well.
Have a look at the highlighted row. Mar qtr dropped sharply from the previous two quarters. Is that because he is pulling back from the expenditure or is it because he had pushed out the expenditure to next quarter? If he is pulling back, then I wonder if the allocated $66.5M amount for such a minor gold producer is really needed for the FY? Just wonder and therefore my sneaky thought.
I could be very wrong.
Cheers.
DCN Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
) and therefore less for the future quarters leading to June 2023, 2024 and 2025, so that the cashflow in the coming quarters will do extremely well for him to qualify for his share options and hopefully for us as well.
