Yes. Excellent and comprehensive report giving a lot of disclosure.
At the UG mine more levels are being accessed and the company says this will improve grade by normalising the stope to development ratio. Should see about 30 levels in production in the second half of FY2019 at Westralia.
The lower grade from open pit operations is explained and the grade and volume of ore is expected to improve as the deposit thickens and improves in grade where the deposit moves from being basalt hosted to syenite host at the base of the current pit.
The operations have just been declared commercial within the last month and have some more maturing to do. Debt level is minimal given the early stage the company is at.
I've only got three posters on HC on ignore. It seems like one of them is here either spreading their own style of incomprehensible down ramping or in the case of the other two their perma-pessimism. IMO this company is executing perfectly, managment have a great track record and if they say they can produce 200koz over 7 years they will give it their very best crack. RW isn't a one trick pony and I am fully expecting more to come as the company beds down this mine. I can see DCN becoming an acquirer of projects around its new domain and longer term RW will turn his eyes to value accretive M&A opportunities if they exist.
Won't be long before we are back over $3 where we belong. Esh
DCN Price at posting:
$2.60 Sentiment: Buy Disclosure: Held