Company Overview

Dacian Gold Limited (ASX:DCN) is a Western Australian based gold producer. The Company recently brought the 100% owned Mount Morgans Gold Operation into production with its first gold milestone achieved in March 2018. The mine is situated amongst numerous multi-million ounce gold mines in a highly prospective tenement position.

A November 2016 Feasibility Study concluded an initial Ore Reserve of 18.6Mt @ 2.0 g/t Au for 1.2Moz at an AISC of A$1,039/oz (US$779/oz) and an initial 8 year production schedule averaging 186,000 oz per annum for the first 4 years.

In conjunction with the Feasibility Study, an expansion Pre-Feasibility Study was also completed, demonstrating a potential increase in the initial Ore Reserve to 21.4Mt @ 2.4g/t for 1.7Moz at a corresponding ASIC of A$970-975/oz. The expanded PFS extends the initial mine life to 9 years with the first 7 years averaging 197,000 oz per annum.

Currently, Mt Morgans is underpinned by two mining complexes, 15km apart; Westralia, consisting of the Beresford and Allanson underground mines, and the Jupiter open pit operation. A potential third mining complex, Cameron Well, is in initial definition phase with an accelerated drilling campaign and resource estimation activities currently underway.

Upon completion of the Feasibility Study in November 2016, Dacian Gold secured A$150M in project debt funding with three tier-one banks. Construction started in early CY2017, and gold production commenced in Q1 CY2018. The production marked the completion of a rapid and successful 11-month construction timeline that saw the project completed on time and on budget at A$200 million.