Very happy with this announcement. I very much think...

Very happy with this announcement.
I very much think expectations for some were over the top, when most of what they have been doing is exploring Cameron well which is still very raw and needs much more drilling. A bit of infil drilling, but as I discuss below, they are only now really ramping up the U/G drilling.

The reserve upgrade is just a baby step. The full suite of what they can add to the mine life is still to come.
They have only just started mining in all of the their U/G mines. The sheer amount of drilling that is to come if we look 3-4 years ahead would be breathtaking.

Management are fairly confident already that they will have 2m ounces in reserve in the future, the question is when. Considering how much money they are ploughing into exploration I am also quite confident they will more than meet their longer term goal.

As noted by others, these points also caught my eye:



All of these points could significantly alter the profitability of DCNs operations. Some initiatives will take longer than others.

@loki01 - as always, I appreciate your views and prefer your critical analysis, however, I do think you are making too much of DCNs debt. I believe the company has been implying that their net debt position of $81m is going to be as high as it gets, if this is the case, then the next few years will not see the company dragging a big debt ball and chain. The last raising, plus the company reaching commercial production is hopefully going to see they continue to follow their debt payment schedule whilst also building a cash pile with I think will be again thrown into more exploration.

We will see and to date, my optimism in gold developers have caused me great consternation.

So far DCN has shown they may be able to finally break the drought of successful developers.