DCN (ASX) Ann: First Ore Mined At Allanson Underground

Originally posted by eshmun ↑

RW said in bold font in the title to this announcmemt that

“Beresford North set to start this week ensuring Mt Morgans is on track to meet FY19 production guidance of 180-210,000oz”

As far as I’m concerned this guy’s word is his bond as far as ASX CEOs go.

This is not unlike RSG, you either have faith in the quality of the development that is occurring or you don’t. If you do, you know you are buying at or near an operational low point. It’s sometimes hard to pick a chart low, but an operational low is far easier to pick IMO. Even if the next quarterly is lagging forecasts and the share price falls a little more you can be pretty confident you are still buying a long term operational low IMO. It’s looking like accumulation here to me and I’ve increased my portfolio weighting by over 300% at the current price levels. I’ve also got more money allocated should the Dec quarterly disappoint the market as I think the present quarter and next will see out a long term share price low. The company remains cashed up and very unlikely to need to go to the market for more cash. Also the company has a very small number of shares on issue by peer standards given the stage of development. Plus, once commercial production is declared and the company’s production falls into a a bit of a groove, the ETF bankster scum may want to get DCN shares into their trash hole, derivative, passive, time bomb disasters in the making offerings, meaning a phase of ETF accumulation may start to occur next year if the liquidy conditions for inclusion in Van Eck are met.

Apart from that, my feeling is that in very short term these two events

-Westralia Ore Reserve Update

-Cameron Well maiden Ore Reserve,

(that are forecast to occur this month) could push the price back up past about $2.20 and as I’ve continually said about this stock I think it is worth well north of $3 every day of the week, in the long run.

It’s easy to sleep owning this stock as it’s near enough to the proverbial no-brainer gold stock IMO.

I also think this comment needs to be heeded.

“The three mine production areas now operational at Westralia are spread over a distance of 1.8km making Westralia one of Australia’s largest new underground gold mines.”

This comment has a certain feeling of ominence and optimism about it. Shouldn’t be long before the market does what I have done and skips through the important parts of this announcement to figure out we seem to have a goer on our hands here. All but 99% derisked for the future IMO, bar the Dec quarterly continuing to disguise how good this will ultimately become. Esh

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DCN is a screaming buy IMO esh, for ALL the reasons mentioned.

Perfect storm of great asset, great mgmt., great timing.

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DCN is a screaming buy IMO esh, for ALL the reasons mentioned....

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