공시 • Nov 23
Dacian Gold Limited Ordinary Shares to Be Deleted from OTC Equity Dacian Gold Limited Ordinary Shares (Australia) will be deleted from OTC Equity effective November 22, 2023, due to CUSIP Suspended. 공시 • Oct 18
Genesis Minerals Limited (ASX:GMD) made an offer to acquire remaining 19.921697% stake in Dacian Gold Limited (ASX:DCN) for AUD60 million. Genesis Minerals Limited (ASX:GMD) made an offer to acquire remaining 19.921697% stake in Dacian Gold Limited (ASX:DCN) for AUD60 million on October 15, 2023. The Offer is recommended for acceptance by Dacian shareholders by the Independent Board Committee of Dacian, comprising Independent Non-Executive Chairman, Craig McGown and Independent Non-Executive Director, Sue-Ann Higgins, in the absence of a superior proposal and subject to the Independent Expert opining and continuing to opine that the Offer is fair and reasonable or not fair but reasonable. The Offer is conditional only on Genesis holding a relevant interest in at least 90% of all Dacian Shares on issue during or at the end of the Offer period. The Implementation Deed also details circumstances under which Dacian may be required to pay a AUD570,000 break fee to Genesis payable in certain circumstances, and Genesis may be required to pay a “reverse” break fee in the same amount to Dacian. Genesis does not require any Regulatory Approval or the approval of its shareholders or the approval or consent of any other person to enter into or perform any of its obligations. Dacian has appointed Longreach Capital as financial advisor and EMK Lawyers as legal advisor in connection with the Offer. New Risk • Oct 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 31% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Earnings have declined by 44% per year over the past 5 years. 공시 • Sep 22
Dacian Gold Limited, Annual General Meeting, Nov 27, 2023 Dacian Gold Limited, Annual General Meeting, Nov 27, 2023. Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.052 loss per share (vs AU$0.19 loss in FY 2022) Full year 2023 results: AU$0.052 loss per share (improved from AU$0.19 loss in FY 2022). Revenue: AU$124.6m (down 44% from FY 2022). Net loss: AU$62.7m (loss narrowed 68% from FY 2022). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. New Risk • Aug 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 54% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$146.0m market cap, or US$93.5m). New Risk • Aug 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 54% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$139.9m market cap, or US$90.6m). 공시 • May 04
Dacian Gold Limited Announces Promotion of Sonia Hamilton-Browne as Chief Financial Officer Dacian Gold Limited announced that Sonia Hamilton-Browne has been promoted to Chief Financial Officer and continues as Company Secretary. The Independent Directors have appointed experienced mining engineer, Andrew Doe, to assist in this transition, and to advise on business matters where conflicts of interest may exist between Genesis and minority shareholder interests. Mr. Doe has previously provided services to Dacian and will remain a Dacian employee. Current Interim Chief Executive Officer and Company Secretary, Derek Humphry is completing handovers to the new team and transitioning out of the business. Reported Earnings • Feb 23
First half 2023 earnings released: AU$0.037 loss per share (vs AU$0.044 loss in 1H 2022) First half 2023 results: AU$0.037 loss per share. Revenue: AU$91.5m (up 18% from 1H 2022). Net loss: AU$44.8m (loss widened 4.4% from 1H 2022). Revenue is forecast to decline by 128% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Director Anthony Am is the most experienced director on the board, commencing their role in 2022. Independent Non-Executive Chair Craig McGown was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Breakeven Date Change • Sep 05
No longer forecast to breakeven The 2 analysts covering Dacian Gold no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$5.60m in 2023. New consensus forecast suggests the company will make a loss of AU$26.0m in 2024. Breakeven Date Change • Sep 02
No longer forecast to breakeven The 2 analysts covering Dacian Gold no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$5.60m in 2023. New consensus forecast suggests the company will make a loss of AU$26.0m in 2024. Board Change • Apr 27
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). MD, CEO & Director Leigh Junk is the most experienced director on the board, commencing their role in 2020. Independent Interim Chairman Mick Wilkes was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Reported Earnings • Mar 02
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: AU$0.044 loss per share (down from AU$0.024 profit in 1H 2021). Revenue: AU$77.9m (down 42% from 1H 2021). Net loss: AU$42.9m (down 415% from profit in 1H 2021). Revenue missed analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 36%, compared to a 1,049% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 02
Full year 2021 earnings released: AU$0.012 loss per share (vs AU$0.41 loss in FY 2020) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2021 results: Revenue: AU$241.6m (down 11% from FY 2020). Net loss: AU$7.50m (loss narrowed 94% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has fallen by 54% per year, which means it is performing significantly worse than earnings. Executive Departure • May 21
Independent Non-Executive Chairman Ian Cochrane has left the company On the 10th of May, Ian Cochrane's tenure as Independent Non-Executive Chairman ended after 5.2 years in the role. As of March 2021, Ian personally held 670.49k shares (AU$925k worth at the time). A total of 3 executives have left over the last 12 months. Reported Earnings • Feb 27
First half 2021 earnings released: EPS AU$0.024 (vs AU$0.35 loss in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: AU$134.0m (down 5.7% from 1H 2020). Net income: AU$13.6m (up AU$92.1m from 1H 2020). Profit margin: 10% (up from net loss in 1H 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 66% per year but the company’s share price has only fallen by 50% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 04
New 90-day high: AU$0.46 The company is up 18% from its price of AU$0.39 on 07 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$3.74 per share. Recent Insider Transactions • Dec 08
MD, CEO & Director recently bought AU$351k worth of stock On the 4th of December, Leigh Junk bought around 1m shares on-market at roughly AU$0.35 per share. This was the largest purchase by an insider in the last 3 months. This was Leigh's only on-market trade for the last 12 months. Is New 90 Day High Low • Oct 09
New 90-day high: AU$0.41 The company is up 3.0% from its price of AU$0.40 on 10 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$5.85 per share.