Dacian Gold (DCN)

Discussion in 'Stocks & Derivatives' started by SilverSanchez, Sep 1, 2016.

  1. SilverSanchez

    SilverSanchez Active Member

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    These guys are developing a high grade mine

    They may seem expensive, but they have lots going for them (management seems pretty good for one)
    I bought recently - which killed me because I had my eye on it from 40c and missed it, it was Capilano Honey all over again for me.

    Do you own research but might be worth a look in if your into developers.

    http://daciangold.com.au/
     
  2. scott_reeve

    scott_reeve Active Member

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    DCN wkly chart (below).
    DCN was unloved for most of 2017, but now getting more attention as it draws closer to first production.

    [​IMG]
     
  3. finicky

    finicky Well-Known Member Silver Stacker

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    This company is doing a cap raising (placement and SPP) at 2.70

    They can raise a lot of potentially highly productive money for little dilution at this price and there will still only be around 220m shares out there with not many options.

    I'm buying a few on market if the share price retreats towards the level of the cap raising. The raising is to accelerate exploration that has been hitting more paydirt within their production field of Mt Morgans.
    Dacian's brownfield discovery of Cameron Well looks very enticing. Cameron Well will give them a third mining 'spoke' for their processing hub in the Mt Morgan project.
    They've got the mill up and running, producing enough cashflow to fund their debt servicing and ramp-up costs to reach circa 200,000 oz p.a production for fy2019.

    Management has prior success at this sort of thing - brought Avoca Resources from $7m ipo to $1B value when it was folded into Alacer Gold Corp. Dacian's Mt Morgan project has minimum 10 years production ahead at 200,000oz p.a but it makes a convincing picture of more gold to be found and the option of increasing production to a higher rate than the original plan. Mt Morgan is in a region with more 2+ million oz endowment mines than anywhere else in Australia.
     
    Last edited: Jul 13, 2018
  4. scott_reeve

    scott_reeve Active Member

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    DCN weekly chart update:
    [​IMG]
     
    mmm....shiney! likes this.
  5. scott_reeve

    scott_reeve Active Member

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    DCN chart update:

    [​IMG]
     
  6. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    They're significantly hedged below current gold prices.
     
  7. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    A mate asked why DCN has such large volumes of shared traded daily with very little range in prices. Anyone care to explain?
     

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