Why a trading halt for a production update - this is an unnatural act. Are their data so bad that it takes 4 days to work out how they have been going and what they are likely to produce in 2019? That sort of data should be updated weekly, if not daily, so that they can work out their cashflow projections.
Perhaps its because there have been a lot of questions about the share price slide - if so its bad timing because it may miss the current bounce in the gold price.
I would be surprised if there is anything wrong with the plant and mining, so this trading halt seems stupid.
My take on the slide in the share price is that the market wants proof of their AISC and their current claim of a LOM at 200k ounces pa over 7 years is not supported by the facts.
This company is a puzzle for me. I got taken out out when the share price retraced back to $2.69 (put a sell on DCN to raise cash when the gold price broke below USD1300). I was going to buy back again a bit lower down from here on hopium. The USD POG is also confusing me. Normally its seasonal pattern suggests that without some catalyst it would be trending down - but it has been pretty strong so far. The US Fed is not helping with my goldie accumulation plan.
GLA.
loki (I hope to be back in in the fullness of time, even if its only another smallish holding.)
DCN Price at posting:
$2.45 Sentiment: None Disclosure: Not Held
