Doesn't he think he has done enough damage this week?
Now he is talking up the risk of Dacian being a one mine company and talking up a merger instead of confidently reaffirming his abilty to deliver on the June guidance.
"As it stands, we see no significant impediments to Dacian eventually reaching the base case outlined in our economic studies...."
I thought according to yesterday's announcement and revised guidance the based case levels are going to be achieved in the June quarter, not "eventually"!!!
A logically equivalent restatement of the above quote would suggest that there are impediments to reaching the base case, ie no serious impediments doesn't rule out that impediments exist.
What is the guy trying to do?
We won't do well out of a merger because most of our peers are running at unrealistic valuations based on the US bubble markets and the easy money that has been pumped into them through massive worldwide debt creation. DCN seemed to me as one of a few gold stocks left with an honest value based on the due diligence done by banks that have supplied hard loans to the company, ie not valued on run away equity prices based on cheap US money. A merger will see no premium for DCN investors and a potential loss of value for DCN shareholders because the other party will be overvalued.
It is almost like Rohan Williams is throwing in the towel if these lastest comments to reporters are accurate.
Are we becoming a shambles? Seems that way from this report.
A lack of equipment due to miantenance or other contractor supply constraints is not a reason to be considering or advocating for a merger of the company.
I've seen the contractor equipment excuse used before but the problems actually ran much deeper so it is time to be very cautious IMO because the comments made by RW to that reporter sound like there is more to this story than equipment availabilty. Esh
DCN Price at posting:
$2.29 Sentiment: None Disclosure: Held