# DEG - De Grey Mining



## brerwallabi (15 September 2005)

Well I picked this in the tipping competetion this month, I have been able to pick up a few cents here and there trading in and out. De Grey was a darling stock twelve months and was trading around 60 cents last year. It is a very advanced explorer you could say in gold, platinium, copper and zinc. De Grey was even explorer of the year 2004.It has been ranging for a while now hence the small pickups I have had, it is worth keeping a very close eye on, a run of news might well get it going again. There was a fair bit of volume today and it picked up 3cps upto 24cps.I have attached a chart not detailed but it gives you some idea of the ranging. The volume that occurred yesterday 14/09/05 may be an indication of a move upwards. Anyway I got back in again.
Carpe Diem


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## brerwallabi (15 September 2005)

*Re: DEG*

Another nice increase today in DEG up another 1.5 cents to finish at 25.5cps further increase in volume today, anybody who managed to buy in on Monday at 19.5cps would be up 30% today - very nice. I think its worth more then what it is currently. 
Check it out http://www.degreymining.com.au/
Hope this time it keeps going preparing stop in case.


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## mikeA (17 September 2005)

*Re: DEG*

I have been accumulating DEG for a few weeks brerwallabi,I'll be very happy if you win this months comp!
Rumour of the day (The West Australian 15/9/05)
"Investors piled into De Grey Mining yesterday sending shares in the gold and base metals explorer up 3c to 24c.Word in the market is that De Grey is poised to release some handsome results from its Orchard Well gold prospect.
De Grey started drilling the prospect in July. De Greys preliminary resource estimate was for 203,300 ounces of gold.''


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## brerwallabi (19 September 2005)

*Re: DEG*

De Grey really going along again this morning moved up another 1.5cps, if I as you say Mike something is cooking then we might head back to last years prices- the price of gold will also certainly help, not worried about winning the comp, it would be nice but my focus is watching this double, all trends look very bullish and MACD looks very encouraging.


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## mikeA (10 October 2005)

*Re: DEG*

I wouldn't call the results so far as "handsome"-good looking maybe,hopefully more news to come.


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## Dutchy3 (21 November 2006)

Here's a weekly. What don't we know about this stock that only a few do?

This is going to be a performer. The four weeks with elipises are a tell tail sign that someone with insider (ooops ... surely I mean insight) is hitting this one.


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## pacer (22 November 2006)

A friend of mine is on a drilling rig up north....working for these guys..they all recon the dirt is ok....I'm not a holder, YET!....hehe.....

Ps guys I have got you all on the comp.....SLA....50%.......NWR was mine origionaly but found a better one...SLA is worth a look...My first bio company.


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## exgeo (10 January 2007)

The Turner River project is DEG's flagship, located about 60km from Port Hedland. The Great Northern Highway passes through the project area as does a BHP rail line and a gas pipeline. Handy stuff to have in the event of being able to prove up a mineable orebody.

Their objective (as per 22/11/06 AGM presentation) is 3MT of base metal resource - which would be enough for a small mine - or 0.5M Oz Gold. This doesn't mean they'll achieve it of course. Turner River is a VMS style of deposit (Volcanogenic Massive Sulphide) containing Zn, Ag, Pb, Au, Cu. Generally these deposits occur in clusters of 4 to 11 (Golden Grove is an example). LME Zinc stocks are only 100Kt at the time of writing. More normal levels are 750Kt. From 2007 a zinc supply deficit is forecast.

Initial drilling was by RAB, this has been followed up with RC and most recently, DD drilling. The most recent DD (diamond) drilling got 3.85m @ 19.4% Zn equivalent in hole WADH003. This hole is 140m west of a previous RC hole which also had grade. This is good stuff. For comparison CBH are mining a grade of 6.8% Zn, 4.1% Pb, 51g/t Ag. The strike extent of the mineralised horizon has been shown to be 20km from RAB drilling (quick & cheap but low quality drilling technique). Other hits are WARC049 2m @ 7.95% Zn, 246g/t Ag, 4.78% Pb, 1.2g/t Au, 0.57% Cu from 88m depth (open pittable depth). There are many other hits of this calibre. The grades would be economic even at much lower metals prices. All they have to do now is prove up some tonnes by getting enough drilling density to calculate a JORC resource. Also in the most recent DD programme hole WADH005 got 6m @ 45.8g/t Au and 66g/t Ag from 193m. Highest grade to date WADH012 (announced on 20/12/06) returned: 4.90m @ 12.7% zinc, 331g/t silver, 7.31% lead, 2.54g/t gold and 0.35% copper from 514.4m (4.9m @ 20.3% Zn equivalent). This hole was 210m down dip of a previous ore-grade intersection. Mineralisation remains open at depth, to the west and stretches 130m east to another high-grade hole drilled previously.

179m shares on issue (market cap 26m @ 14.5c). Presentations etc can be seen at the company's website http://www.degreymining.com.au/


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## Dr Doom (16 February 2007)

Hi Exgeo   ,

DEG has gone into a trading halt for ann by Monday.

I've been accumulating this one for a while on the dips, as the figures that keep coming out are very good, as you have compared.  Personally I can't see how the fundamentals when the price was at 60c have changed negatively to currently have a price of 14.5c. That is, since the price was 60c it's been all very good news, yet the sp has drifted lower each time after the good ann's.

Another case of when the penny finally drops and the company is re-rated there should be spectacular gains eg HLX.


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## exgeo (16 February 2007)

Well, I guess there are probably more shares on issue now than there were then, that'd be one reason. They have $5m in cash from the Dec 06 qtly and plan to spend $1.5m in the next qtr, so the trading halt probably isn't a capital-raising.


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## exgeo (16 February 2007)

OK, looks like I was wrong. It IS a capital raising, although if they manage to get a JORC resource proved up then that should give a boost to the shares (one of their stated uses for the money raised).


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## porkpie324 (17 February 2007)

Be careful with DEG, the last lot of options ended worthless after the share price dropped. porkpie


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## exgeo (18 February 2007)

Well there's one easy way to avoid that particular pitfall isn't there? Buy the ordinary shares instead.


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## moses (18 February 2007)

The Neilson SMA shows a steady positive buying pressure from "smart money", buyers who trade bigger parcels than average. This is a bullish signal. It means that the more serious orders are from buyers waiting to pick up any dips than sellers hoping to cash in on peaks.

For more info see Neilson Smart Money Analyser thread.


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## moses (20 February 2007)

And here is the smart money...


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## Dr Doom (20 February 2007)

This one requires a bit of patience. Maybe they should announce that they are to also test for U308?.


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## exgeo (6 March 2007)

where's the smart money when you need it?! Filling their boots with uraniums maybe?


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## GRTRADER (23 March 2007)

Good announcement today - exploration results for 3 activities in the next 2 weeks + the beyondie results in 3 weeks time.

Shall be interesting to see what they have found


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## Dr Doom (26 March 2007)

If the ann's are good, & I cant see why not based on past exploration results, then we may get a bounce off the weekly double bottom?.


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## GRTRADER (4 April 2007)

Anyone read the announcement yesterday?
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00708285

it all looks quite positive but the sp hasnt really moved much

There are more announcements to come so hopefully that will help


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## Uncle Festivus (10 April 2007)

DEG announcement just out!          
Copper Intercepts at Beyondie

Slowly building a company maker portfolio. As in above chart, looks like a double bottom to rebound from if more good announcements follow maybe.


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## -merry (1 August 2007)

anyone else following this one? 

http://imagesignal.comsec.com.au/asxdata/20070801/pdf/00744693.pdf

but the sp hasn't really moved much. any thoughts?


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## Uncle Festivus (1 August 2007)

-merry said:


> anyone else following this one?
> 
> http://imagesignal.comsec.com.au/asxdata/20070801/pdf/00744693.pdf
> 
> but the sp hasn't really moved much. any thoughts?




Again, more excellent results, sort of swamped by other minor matters today


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## -merry (1 August 2007)

i don't really understand why the sp is going down when they've got so much going for them and the cash in the bank to back it up along with management who seems to know what they're doing =/ maybe it hasn't received enough attention yet


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## exgeo (1 August 2007)

I emailed the company a week or so ago and got a very prompt and full reply from Darren Townsend (MD). I expressed the opinion that the sp would do nothing until a JORC resource was calculated. He agreed with me, but said that they didn't want to spend money to prove up a resource until they were sure of which prospect was the best one to be drilling out to JORC status. He said that he thought at least one, if not two more drilling programmes would be needed before they were in a position to make a decision on the best prospect to concentrate on. 

If you have a long term outlook then I'd say it's a good one to accumulate while others are panicking or looking elsewhere. You could have done well buying Vulcan (VCN) at 20c 6 months ago for example.


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## Uncle Festivus (1 August 2007)

I agree Exgeo, all they have done so far is kick some rocks around, although some very promising rocks. The Co would be aware of the fact of spending money wisely, but are in the fortunate position of possibly being able to have the choice of which tenement to mine in the hopefully not too distant future.

It certainly has been a dud as far as share price goes, but their fundamentals continue to be enhanced with every drill hole and announcement, so I am hoping for a re-rating in more favourable market conditions?


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## exgeo (1 August 2007)

Well, it looks to me that if and when they finally get around to doing a drillout to JORC status, the grade will certainly be there (some of the drilling results have been excellent), it's just a matter of will there be enough tonnes to support a mine? My money is on "yes" anyway. Prairie Downs PDZ shows what can happen when one of these tiddlers looks like it's on to something economic.


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## -merry (2 August 2007)

do you know if the 203,300 oz of gold that they say they have at wingina well is JORC certified? Cause at the moment they say they have a gold resource base of 203,300 oz at Wingina Well


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## Uncle Festivus (2 August 2007)

Following the successful discovery of the Wingina Well gold mineralisation in December 2003, the company announced in October 2004 a JORC compliant resource estimate of 203,300 ounces of gold for Wingina Well.

http://www.degreymining.com.au/TurnerRiver.asp


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## -merry (14 August 2007)

Anyone have any idea at all when they'll be looking at production? it seems like all they've been doing the past 5 years is exploring, exploring and more exploring. If they know theres something in the ground why dont they start up production and use the revenue from that to fund future explorations instead of constantly raising capital from the market and diluting the shareholder's stake in the coy. On a side note, anyone have any idea how long it takes to drill say 10m?


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## Uncle Festivus (4 December 2007)

There was movement at the station..... Something happening here on an otherwise slow day for gold stocks, DEG spurting higher. A definate but subtle weekly up trend emerging since the low in August, supported by volume. Anyone know anything the rest of us should know?


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## danc (4 December 2007)

Cracker of a chart both day and week and look at the vol spikes on the up days and weeks ,,, some assay reports and other results this month isnt there??? preety good strong and experienced managment behind this one and in the back ground . may go some were this time has had a few previous starts maby a real start this time and not a false one..


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## Uncle Festivus (21 December 2007)

danc said:


> Cracker of a chart both day and week and look at the vol spikes on the up days and weeks ,,, some assay reports and other results this month isnt there??? preety good strong and experienced managment behind this one and in the back ground . may go some were this time has had a few previous starts maby a real start this time and not a false one..




Well, it did fade again, but this time after a company called Karari Pty Ltd gave notice that it had become a major shareholder with nearly 7.2% of the company, buying since early October, so that explains the rise. Back to consolidation again!


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## Uncle Festivus (24 January 2008)

It used to be Uranium, but now it's iron ore, & DEG might have found a bit.



> De Grey Mining Limited (ASX code: DEG) is pleased to advise significant high-grade
> iron assays have been received from reconnaissance rock sampling completed at Mt
> Dove.
> 
> ...


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## Mr Peaman (2 April 2008)

They just got an iron ore tennant in the Pilbara region... Looks like it could be a turnaround for DEG


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## Uncle Festivus (3 April 2008)

This does look promising after the disappointing efforts so far. Mt Dove is looking more viable as well. Maybe time for DEG to diversify into the hot iron ore sector and maybe another country for better gold prospects? Perhaps 12c is now too cheap with the potential in a well established iron ore province with infrastructure close by. It should at least get the day traders into a frenzy for a few days.



> DE GREY WINS BALLOT FOR IRON TENEMENT, PILBARA
> De Grey Mining Limited (ASX code: DEG)  is pleased to advise that it has been
> awarded first priority to application E45/3188 in a ballot of eight applicants. De Grey
> was successful over several iron mining  and exploration companies in the region
> ...


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## Uncle Festivus (26 June 2008)

DEG still want's to be an iron ore producer?

De Grey Mining Limited (ASX: DEG) is pleased to advise that it is seeking to secure 
title over 1,292 square kilometres of  tenements with geology prospective for iron 
mineralisation in shallow waters west of Cape Preston in the Pilbara region of 
Western Australia.


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## alankew (26 June 2008)

Sounds like a similair project to that of VEC-hasnt done their sp any harm.Havent read this through but if its anything like VECs where they talk about 250Mt(not all iron though) of sediment being dumped annually so unlike a traditional IO resource whereby once its dug up its done this may be sustainable.Check out VECs ann for more info on what this may hold for DEG


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## springhill (26 July 2012)

*Vein Breccia Zone Drill Results*
• Drillhole SM-12-01 returns significant results including 0.45m @ 0.53% Zn and 95ppb Au from 118.50m
• Drillhole SM-12-02 returns significant results including 1m @ 2.16% Zn from 82.80m, 1m @ 329ppb Au and 14g/t Ag from 186.80m and 1m @ 59g/t Ag from 219.80m
• Results confirm that drilling at the Vein Breccia Zone has intersected a low sulphidation epithermal system
• Excellent potential for the Vein Breccia Zone to host Au-Ag mineralisation at depth

*Vein Breccia Target - Background*
The Vein Breccia Zone is located in the eastern portion of the Sierra Morena Project, Santa Cruz Province in Argentina. De Grey Mining Ltd has been exploring the project since 2010 and has completed rock chip and soil sampling, geological mapping and diamond drilling.

The Vein Breccia Target is a zone of low temperature quartz veining, brecciation and alteration developed along a >800m long north-west trending duplex fault system, with north-south striking extensional faults developed within this overall north-west oriented fault system. A large proportion of the area is covered by a thin layer of recent volcanic ash, which has limited geological mapping and sampling generally to the crests of hills.

Sampling of the area has located numerous vein and vein float occurrences with rock samples returning up to 11.75g/t Au and 96.2g/t Ag1 accompanied by significant arsenic, lead and zinc over an area of approximately 750 metres by 800 metres (Figure 1). These high metal grades appear to be associated with both the northwest striking faults and northsouth striking extensional faults.

With the encouraging 1st results from a limited drilling program, the company plans to continue exploration at the Vein Breccia Zone in the 2012-2013 field season. Initially the company will complete trenching and further geological mapping in the area to better understand structural controls on mineralisation, and then proposes a Gradient array IP program prior to further drilling. This next stage of drilling will aim to test the deeper parts of the epithermal system (100-400m below surface) which typically contain the Au-Ag rich zones.


*SIERRA MORENA PROJECT – ROCK CHIP SAMPLES TO 23g/t Au and 3,240g/t Ag*
At the Eastern Zone, rock chip samples returned up to 23.3g/t Au and 3,240g/t Ag. The zone consists of partially outcropping quartz veining and silicification with coincident Au-Ag- As-Hg-Sb anomalism (in soils) over a strike distance of approximately 725 metres.

The Western Zone consists of partially outcropping quartz veining and siliceous breccia with coincident Au-Ag-As-Hg-Sb anomalism (in soils) over a strike distance of more than 1.2 kilometres. Rock chip samples have returned up to 7.2g/t Au and 755g/t Ag.


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## pixel (27 September 2017)

... and the next Big Breakthrough comes from the Pilbara:
http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01900143


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## greggles (2 October 2017)

DEG soaring on high volume today. Up an impressive 50% from yesterday's close, currently at 22.5c and looking very strong.



> *De Grey accepts strategic investor Kirkland Lake to its Register*
> 
> De Grey Mining Limited (“De Grey”) is pleased to announce that Kirkland Lake Gold Ltd. (“Kirkland Lake”) has agreed to subscribe for up to 33,333,333 shares in De Grey at a price of $0.15 per share to raise $5M. Each share will have a free attaching option, with the options exercisable at $0.20 per share at any time before 30 November 2019.
> 
> ...


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## pixel (17 November 2017)

De Grey has enjoyed a brilliant run, but will it continue? 
The last week leaves some serious doubt.


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## Joules MM1 (25 May 2018)

ASX: DEG






335MM scrip at auction

* Top 20 Shareholders as at 27/09/2017 DEG *
* 
 Shareholder* *Effective Date* *Capital (%) * *Shares* *Notes*
Total Held by Top 20 Shareholders 29.74 79,214,288


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## HelloU (25 May 2018)

assume that is a positive post above......
DGO is throwing some cash at DEG (and then DGO is asking DGO shareholders to pay for it.....but DGO holders could almost fit in my bathroom at the same time so they must think some future value here). 
Lots to get ones head around here (and lots of guessing by me tbh) but buckled in anyway.


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## Joules MM1 (25 May 2018)

HelloU said:


> assume that is a positive post above......
> DGO is throwing some cash at DEG (and then DGO is asking DGO shareholders to pay for it.....but DGO holders could almost fit in my bathroom at the same time so they must think some future value here).
> Lots to get ones head around here (and lots of guessing by me tbh) but buckled in anyway.




even tho the issue for DGO raises the total scrip at auction, relatively, well held size and the spread will lift itself to the cap raise of .200 (which may seem unusual compared to vwap issues but the DGO get the benefit of further holdings at .250's so both groups assuming the stock is in a low-ball zone)


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## Joules MM1 (28 May 2018)

HelloU said:


> assume that is a positive post above......
> DGO is throwing some cash at DEG (and then DGO is asking DGO shareholders to pay for it.....but DGO holders could almost fit in my bathroom at the same time so they must think some future value here).
> Lots to get ones head around here (and lots of guessing by me tbh) but buckled in anyway.



as the stock is in take-off mode, this should gap it

https://www.asx.com.au/asxpdf/20180528/pdf/43vbjk4lb4cfxn.pdf


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## Joules MM1 (31 December 2018)

Joules MM1 said:


> ASX: DEG
> 
> View attachment 87511
> 
> ...




that post didnt age well, albeit  a clear signal to exit when the leap (where i cited a break-out level) gapped up then fell over, the exit signal was the fail level itself,  with smart money exiting on the "is that all?"  my guess is, as with many goldies,  the then underlying weakness on speculators was in full bloom as seen in the COT*, conversely we now see commercials in their typical 'we make trend' mode of buying easy supply (whatever currency you wanna argue, the world mostly deals in USD's) 

DEG appears to be in the not interested bin and veering into cheap relative to insitu resource, with work to come in the Pilbara, as this is a forward looking at what 2019 might bring there's no technical horse to hitch and money flowing the wrong way (21day/13week TMF) it's hard to get excited for DEG's upside and arguably there's a gap to close below and a year's a long time for a decent swing on bargain goldies to go from fuggit to huggit

so i guess over the next 12 months the company is dependent on how it is perceived given that there are no more promises it can offer the market place other than bigger resource to qualify the plant-build $'s required which require a strengthening (uptrending) gold price, again, pick your currency to argue the case, it's reliant on larger sentiment to drive bids in the auction rather than a single mechanism

* http://www.timingcharts.com/


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## HelloU (31 December 2018)

soz joules for not talking ... jumped off back in early august .....have not even looked since but may in the new year. appreciate ur efforts but cannot add to it atm. maybe later. have a good new year.


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## Ann (7 January 2019)

_17/10/2016 A$1.26M was raised in an oversubscribed share placement to sophisticated investors of Beer & Co Pty Ltd and DJ Carmichael Pty Limited with a capital raising price of $0.0029 per share with a 1 for 3 attaching option. Existing shareholders will be offered an opportunity to participate in a Share Purchase Plan to raise up to an additional $1.25M under same terms as placement. Funds will be used to continue work at the Company's De Grey Turner River Project. An unmarketable share sale facility will be initiated alongside the proposed SPP. A capital consolidation on a 1 for 20 basis to be voted on by shareholders at the Company's forthcoming AGM._

_



_




*WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital. Better value elsewhere.*


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## Joules MM1 (27 January 2019)

appears to be a lot of (cough) red ink about for some holders, so, you have to ask, who's buying all that selling?
let's look thru the square window that is Twiggs Money Flow vista....






beware that this is also a hallmark of 'smash the sentiment and sell into strength' to late comers once the spike hits .....this should not be confused with ideas about long-term value

then again...it might run like the wind, do-do-do...do-duh-duh-duh...dah-dah-dah, gotta-run like the wind...
...


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## barney (27 January 2019)

Joules MM1 said:


> then again...it might run like the wind, *do-do-do...do-duh-duh-duh...dah-dah-dah, gotta-run like the wind...*
> ...




Lol … Joules you are obviously a lot younger than I am ….. But I suspect since you listen to both the Police and Cristopher Cross …. you may morph into a late 50's child in your older age!!

Don't be distressed …. it's not that bad … lol …. 

That's "all I want to say to you"


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## Joules MM1 (27 January 2019)

if i was any younger i'd not be the age i am now

"A day without sunshine is like, you know, night" Steve Martin


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## barney (27 January 2019)

Joules MM1 said:


> if i was any younger i'd not be the age i am now
> 
> "A day without sunshine is like, you know, night" Steve Martin




LOL …..


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## Joules MM1 (26 February 2019)

time for a 240volt kick up the hooter....chance for recent bids to exit on a ping!
https://www.asx.com.au/asxpdf/20190226/pdf/442zz2p4rnfpll.pdf



> White Quartz Hill
> 11m @ 0.29g/t Aufrom 0m in WQRC002, incl 1m @ 0.93g/t Au
> 5m @ 0.53g/t Auform 0m in WQRC003, incl 1m @ 1.04g/t Au
> 10m @ 0.23g/t Aufrom 0m in WQRC004, incl 1m @ 0.74g/t Au
> ...


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## Joules MM1 (19 March 2019)

@greggles  a candidate for the BII thread ?

march 12 sees tiny swing, consistent news flow upto,  interesting the swing in the 13week money flow commences along with drilling....


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## greggles (20 March 2019)

Joules MM1 said:


> @greggles  a candidate for the BII thread ?
> 
> march 12 sees tiny swing, consistent news flow upto,  interesting the swing in the 13week money flow commences along with drilling....
> 
> View attachment 93082




Well spotted. 

DEG up another 6.7% today to 9.5c after announcing more high-grade drilling results from the Withnell gold deposit.


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## Cam019 (27 December 2019)

Big volume signature change since mid-July '18... accumulation... maybe, we'll see. One to keep an eye on.


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## Dona Ferentes (7 February 2020)

anyone following DEG?

up 100% yesterday and a further 40% today. Gold intercepts.


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## Trav. (7 February 2020)

unfortunately not..what a nice couple of days. Hopefully someone here is holding and out enjoying a beer or two now.


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## greggles (5 March 2020)

Dona Ferentes said:


> anyone following DEG?
> 
> up 100% yesterday and a further 40% today. Gold intercepts.




More good news for DEG today. RC drilling has confirmed a large scale gold system at the Hemi Prospect.






Some very wide intercepts there. Looks like there's a lot of gold under the ground.

From today's announcement:


> Exploration Manager Phil Tornatora, commented:
> 
> "*Early drilling at Hemi has produced some of the best discovery intersections that I have seen.* Drilling to date, shows exceptionally wide, continuous and good grade gold mineralisation.
> 
> ...




DEG currently up 40.5% to 26c and looking very bullish with volume of more than 24,000,000 shares traded.


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## finicky (5 March 2020)

Looks like a 10:1 share consolidation somewhere way back? Looks like the original shareholders who are left would need 10 × 25c just to be standing still. One of the reasons today I don't regret passing over *DEG* (if you can believe me, lol) - it would never be a buy candidate in my book. Any company that's diluted long standing shareholders into oblivion is an immediate pass for me.

Not Held

*DEG All Data Qtrly





*


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## HelloU (5 March 2020)

Borrow recall

(is this the one that bought lots of tenements using options/rights to the previous tenement owners? cannot remember the history.... might be thinking spitfire??)


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## Cam019 (29 March 2020)

DEG is my pick for the April tipping competition.


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## Dona Ferentes (5 June 2020)

Still early stage; drilling ahead, with two more rigs on site, now 6. 

_Hemi is a new major gold discovery, where gold mineralisation is hosted in a series of intrusions associated with stringer and disseminated sulphide rich zones.  This style of mineralisation is new to the Pilbara region and shows a scale of mineralisation not seen in the project previously.  

Hemi is shaping up as a world class, large scale deposit with world class infrastructure on our doorstep.  Drilling is continuing to determine the extent of the Hemi mineralisation with the expectation that overall project resources will increase significantly from the current 2.2Moz. 

There are at least four other look-alike intrusion targets already defined in the immediate region surrounding Hemi, three of which have known ore grade mineralisation.  A detailed airborne magnetic survey was recently completed and will be used to further improve and enhance targeting. _


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## Dona Ferentes (12 June 2020)

baggus decimus in H1CY20


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## over9k (12 June 2020)

Yeah I bought this at just under 40c/share. So far, so good


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## over9k (19 October 2020)




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## over9k (23 April 2021)

Big strike announced today - anyone else hold? I'm at 4 bags & counting


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## over9k (23 April 2021)

@barney Because you got me on to VML


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## Smurf1976 (24 April 2021)

over9k said:


> anyone else hold?



I'm holding yes.

Unfortunately didn't buy more or sooner but nonetheless it's nicely in profit so I'm not complaining.


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## barney (24 April 2021)

Always good to see other Punters having a win @over9k , @Smurf1976  Well done


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## TechnoCap (24 April 2021)

over9k said:


> Big strike announced today - anyone else hold? I'm at 4 bags & counting



in at $0.91 and $1.08 all up around $10k in this one
next stop heading towards $2.28-2.36 - possibly


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## frugal.rock (25 April 2021)

I still had DEG sitting in my mining pennies watchlist for under 10 cent stocks... I remember looking at it at 4 cents considering a buy but never got there.

Don't see too many stocks popping hard like this, unrelated, however PDI  (Predictive Discoveries?) seems to be doing something again. 

Both not held.


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## Joe Blow (25 April 2021)

I've been away this weekend and just got home to see this thread. I deleted the most recent post by Clansman and then starting working my way backwards to read all of the posts from the last couple of days and as a result Clansman is now banned.

There is no excuse for this kind of appalling conduct.

The thread has now been cleaned up, so please feel free to continue discussing DEG.


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## over9k (25 April 2021)

frugal.rock said:


> I still had DEG sitting in my mining pennies watchlist for under 10 cent stocks... I remember looking at it at 4 cents considering a buy but never got there.
> 
> Don't see too many stocks popping hard like this, unrelated, however PDI  (Predictive Discoveries?) seems to be doing something again.
> 
> Both not held.



I'm actually going to top up from here rock so I think there's plenty of money to be made yet


----------



## TechnoCap (26 April 2021)

over9k said:


> I'm actually going to top up from here rock so I think there's plenty of money to be made yet



snuck in another 4000 at $1.50 this morning on a slight retracement - let's get through $2 DEG


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## over9k (1 June 2021)

Bumping because I picked this for the stock picking comp and they've just announced "encouraging results at duicon-eagle" today, so off to a good start.


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## TechnoCap (1 June 2021)

over9k said:


> Bumping because I picked this for the stock picking comp and they've just announced "encouraging results at duicon-eagle" today, so off to a good start.



bump it as much as you like as I like and am holding


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## Sean K (23 June 2021)

Wow, this is nice. Is it already factored into the sp?


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## Sean K (23 June 2021)

Looks like it has been factored in but I see more upside here. 9m oz @ $2,000 = $18b in the ground. Market cap around $2b at the moment and it will take some $$ to put a mill in and start digging. They still have heaps of drills spinning and there'll surely be another couple of resource upgrades. Everything remains open and they've been adding 100s of 1000s of ounces a month to Hemi. Not sure where it's going to stop. 15m oz au? $30b in the ground? 

I hear NCM calling.


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## over9k (23 June 2021)

Yeah, this kind of stuff is basically expected for DEG now. There's a LOT that's already been priced in, hence its meteoric rise


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## over9k (28 June 2021)

Big dip today, tempted to top up (so I'm still holding). Chosen for stock competition because of it.


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## Sean K (2 July 2021)

I think DEG is about at the upper Discovery Phase on the Lassonde Curve. They probably have a few more million ounces to add to the MRE but it will be interesting to see how it conforms.


----------



## over9k (2 July 2021)

Nah it's had its pullback. We're in the dip right now.


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## Sean K (22 July 2021)

Hemi could easily go up to 10m oz au imo leading to over 12m oz au + global resource. This is huge and it's still open in just about every direction. $1.4b MC. What should 12m oz au actually be worth with POG around $2k?


----------



## Sean K (7 September 2021)

Phil is probably not the guy you'd want to be inspiring the troops into battle, but it's good to hear an explanation of results from the horses mouth.


----------



## Sean K (9 September 2021)

These are pretty good extension results for Eagle and Diucon, and well beyond the initial MRE.  Not caring too much about hits below 300m under 2g/t. Maybe not worth going UG for that. 

Not sure how closely any ASF'ers have looked at this deposit and wondering about the type of ore body ie, refractory, and how much Capex/Opex effect that will have to produce some ingots. Processing is a lot more complicated and expensive. Not sure how much of that is factored into the current valuation from the experts. I suppose with potentially 10m OzAu + from surface a capex of $1b+ should get finance.


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## Sean K (21 September 2021)

Recoveries look good and they're trialling three potential oxidation processes (pressure oxidation, biological oxidation and Albion). Biological oxidation is normally for smaller operations so my guess is they need a POX as part of the process which they've included in their example flow sheet. Haven't seen Albion Process mentioned before so had to ask Mr Google. Interesting paper here for anyone interested comparing POX and Albion. The cost comparison is below and this is pretty old, so could be much higher numbers than this.

Needing POX or Albion certainly adds to the Capex and Opex of refractory ores. Considering the volume of Hemi, I don't think this will have a significant factor in actually getting to production. Will just be part of the value consideration down track.


----------



## Sean K (5 October 2021)

Scoping study out.

Capex lower than I expected which is good to me. Was expecting more discussion of POX in the mill plan and $$ associated with it. Maybe they're not mentioning it for a reason. (the skeptic in me). 1.5-1.8 yrs payback seems very good. Assuming gold price at $2400 might be a bit rich. It could be over $3000 by the time they get to mining, but providing a range might have been better with the current price at the top to be conservative. 

Producing over 400k oz pa is pretty spectacular. If they increase the resource to over 10m oz, which I expect them to, then they could perhaps increase the mill size and get to over 500k oz pa.  

After payback these guys are going to be making a lot of money.

Project is just going to get bigger as well. 

Not sure how they stay independent.


----------



## Sean K (5 October 2021)

kennas said:


> Scoping study out.
> 
> Capex lower than I expected which is good to me. Was expecting more discussion of POX in the mill plan and $$ associated with it. Maybe they're not mentioning it for a reason. (the skeptic in me).




My bad, I missed this slide discussing mining process and the oxide options are going to come out in the PFS. Not sure how they've done a scoping capex to the dollar when these three processes will cost different $$.


----------



## Sean K (5 October 2021)

Hoping this sequence continues. Blue channel next. Need a turn around in POG and no market crash, thanks.


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## Sean K (13 October 2021)

Exploration results out and nothing to _really_ get excited about. They don't really need to find anything else I suppose, this project is going to be over 10m oz once the Hemi deposit is drilled out further and I reckon they will increase the scoping study to be 500K + oz pa output eventually, just on Hemi. 

So, anything else is just a bonus. 

Extending Withnell is good and 30m@5g/t points to quite a few more ounces there. This will probably go 1m + oz by the looks. 

Surprised a major hasn't already taken this over. You don't find up to 400k + oz pa inventory in such a fantastic location every day.


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## Sean K (20 October 2021)

TH for CR.

They have $70m in the bank so this raise may be quite significant and let's hope there's an issue to current holders at a nice discount to the current SP.

Why do they need to raise now when they're yonks off BFS? Maybe just because the SP has jumped quite a bit the past few weeks and it's a good opportunity...


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## Sean K (20 October 2021)

Why on Earth would it take this much cash to take it to PFS? I'm guessing there's a lot of corporate costs and general working capital associated with this...

And:



> The Board has chosen not to proceed with a Share Purchase Plan (“SPP”) as it notes all shareholders have had the opportunity to acquire shares at reasonable prices over the last 30 days.




What an absolutely BS justification. I'm guessing there'll be more opportunities at lower prices after this. Thanks for nuthin.


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## Miner (20 October 2021)

kennas said:


> View attachment 131695
> 
> 
> Why on Earth would it take this much cash to take it to PFS? I'm guessing there's a lot of corporate costs and general working capital associated with this...
> ...



Thanks for sharing @So_Cynical . DEG somehow attracted attention of a plethora of smaller mines around its tenements. In addition to what you mentioned, company could not feel comfortable to include current holders on the $125 M CR . 
8 pc discount is nothing considering the brokers will be paid some 5pc in commission towards CR work.
Time for me  to get out of DEG or buy more if the price goes significantly below $1.1 once it opens for trading.


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## frugal.rock (26 October 2021)

Miner said:


> Time for me to get out of DEG or buy more if the price goes significantly below $1.1 once it opens for trading.



FWIW, have entered on $1.11 on Friday 22 Oct, a first for me on DEG. 
Last time I seriously considered a buy, it was around 4 cents...🤪






If it dips below $1.05, I'm worried, and would be looking to exit. 
However, that would depend on POG.
POG currently trending up again on the daily.


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## Sean K (26 October 2021)

Miner said:


> Time for me  to get out of DEG or buy more if the price goes significantly below $1.1 once it opens for trading.




I've topped up a little. It's going to be a slow burn to get to production with considerable costs on the way, but it will eventually be a very high cap gold company. Not many producing around 500k oz pa from the one mine. In fact, I imagine one of the super majors might want to bolt this on.



frugal.rock said:


> FWIW, have entered on $1.11 on Friday 22 Oct, a first for me on DEG.
> Last time I seriously considered a buy, it was around 4 cents...🤪
> 
> 
> ...




Unless the thesis that gold is in a longer term rise proves incorrect, I'm just buying dips on this. Not sure exactly what MC it should have for it's stage of exploration/dev and ounces in the ground, but if it gets to a MC of around the $2b mark (target just a nice round number and pending any further discoveries)  before another CR, I might be out by then.


----------



## Dona Ferentes (31 October 2021)

a bit of commentary in the Press

*Ally Selby (Livewire Markets) :* _Tim, staying on you. Next, we have struck gold with De Grey Mining. Its share price has been quite a volatile ride for shareholders over the past 12 months. Now, it’s pretty flat. Is it a* buy, hold, or **sell*?_

*Tim Serjeant (Eley Griffiths Group) : **Buy*, Ally. 500,000 ounces per annum for over 10 years in Western Australia makes it a Tier 1 asset in a global gold context. There are just two issues to monitor over time, I think both of which are intertwined, which are capex and recoveries. I think both are eminently solvable, it’s just whether it’s De Grey or someone else.

*Ally Selby (Livewire Markets) :*_ David, over to you. It has a market cap of around $1.4 billion and it recently completed an institutional capital raise of around $125 million. Is it a buy, hold, or sell?_

*David Franklyn (Argonaut) : *We’ve got it as a *buy*, Ally. It’s a Tier 1 asset in a Tier 1 location. It’s going to be attractive. It’s either going to move through development and become a global producer of scale and be well sought after or else, and just as likely, a major will look to acquire it relatively soon. So, we like it.


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## Sean K (4 November 2021)

Dona Ferentes said:


> a bit of commentary in the Press
> 
> *Ally Selby (Livewire Markets) :* _Tim, staying on you. Next, we have struck gold with De Grey Mining. Its share price has been quite a volatile ride for shareholders over the past 12 months. Now, it’s pretty flat. Is it a* buy, hold, or **sell*?_
> 
> ...




I doubt that De Grey will take this to production. It's too valuable to a bolt on for a major who needs some growth, either internal or otherwise. One company that might need a significant bolt on in Newcrest who may not get Wafi-Golpu over the line due to PNG turning more nationalist and wanting to keep their resources. This will only end in tears for PNG imo as they couldn't organise a root in a you know what. One of the other majors may be looking at DEG but the only Australian company who has the balance sheet now is NCM. The current resource is going to quite clearly expand and 500k oz pa for what will turn out to be 15 years + is a lot of coin.


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## Sean K (10 December 2021)

Eagle looks like it's going to be quite a decent deposit and the overall tonnage go up considerably for the Hemi global MRE. Potentially a 10m oz + resource. Very long life, through the cycles, generational type stuff. I'm actually on the hunt for junior explorers under the radar so this does not fit the bill anymore, but I just see a lot of upside here in the long run. Over 50m at over 5g/t outside the current MRE is big.

Questions remain about their Capex and the cost of the POX part of the flow sheet.


----------



## Sean K (17 December 2021)

Some good infil drilling at Diucon here but the depth extensions don't look very impressive below the pit shell. I don't think you go UG for 1g/t in this particular project. Happy to be corrected. Perhaps the pit can be deepened to take in some of the additional ounces.


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## Sean K (13 January 2022)

DEG's chart looking interesting to me. Looking at a break through those red lines for an upward trajectory. Been consolidating for a long time, even with the great drilling results which will clearly extend the resource considerably. Maybe just POG uncertainty at the moment holding it back. MC at $1.6b so perhaps a lot is factored in. They should hit the 10m oz au mark with the next MRE and if you do a rough value of $150-200 an ounce on them that's $1.5-2b. So, maybe they're priced well at the moment. Maybe I'm underestimating the additional ounces potential and $$ per ounce.


----------



## brerwallabi (14 January 2022)

Sean K said:


> DEG's chart looking interesting to me. Looking at a break through those red lines for an upward trajectory. Been consolidating for a long time, even with the great drilling results which will clearly extend the resource considerably. Maybe just POG uncertainty at the moment holding it back. MC at $1.6b so perhaps a lot is factored in. They should hit the 10m oz au mark with the next MRE and if you do a rough value of $150-200 an ounce on them that's $1.5-2b. So, maybe they're priced well at the moment. Maybe I'm underestimating the additional ounces potential and $$ per ounce.



Entered this last week at a $1.12, my thinking being it would test $1.30 again, todays performance suggests it will and may break through your resistance line.
Initially my thoughts were to sell at just under, now I am thinking it may well exceed that level.
As you say 10m Oz is a serious amount I think it will drive it forward.


----------



## Sean K (14 January 2022)

brerwallabi said:


> Entered this last week at a $1.12, my thinking being it would test $1.30 again, todays performance suggests it will and may break through your resistance line.
> Initially my thoughts were to sell at just under, now I am thinking it may well exceed that level.
> As you say 10m Oz is a serious amount I think it will drive it forward.




While they have an excellent board and lots of experience building and managing other mines, and should be able to take this to production, I'm surprised no one has tried to take them over. One of the majors with money in the bank and good cash flow may have already missed the boat on adding 500K ounces per year in the next few years. Maybe they were scared of the oxide ore and capex for the oxidisation plant, but all the majors run them. Would have liked NCM to take them but they went for that Canadian thing instead. I suppose as a takeover option, this would cost $2b and then the $1b capex, so it's a $3b deal.

Interesting day today, the majority of my watchlists are red.


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## Sean K (17 January 2022)

Looks like DEG may have finally started a move up again after months of sideways/downwards bias. Breaking those previous tops at $1.30 in Aug, Oct and Nov is important.


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## Sean K (17 January 2022)

brerwallabi said:


> Entered this last week at a $1.12, my thinking being it would test $1.30 again, todays performance suggests it will and may break through your resistance line.
> Initially my thoughts were to sell at just under, now I am thinking it may well exceed that level.
> As you say 10m Oz is a serious amount I think it will drive it forward.




Good timing B. 😁 

Unusual action the past few days.

I’m not sure what my price targets are for offloading are here because the fundamentals could change quickly. Plus, I got into it late and have only bought dips, so was thinking it was more a longer term FA play. I was thinking there’s a high probability of a couple of the super majors fighting over it for a M&A stag. Still think that’s a chance. It’s getting more and more expensive though…


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## Rabbithop (17 January 2022)

Sean K said:


> Looks like DEG may have finally started a move up again after months of sideways/downwards bias. Breaking those previous tops at $1.30 in Aug, Oct and Nov is important.
> 
> View attachment 135959



Patiently waiting to hit $1.40 to $1.50.


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## Sean K (20 January 2022)

Rabbithop said:


> Patiently waiting to hit $1.40 to $1.50.




Well waited. 

Breaking $1.30 was important and should be good support now, but it's racing towards ATHs. Unusual action really, someone has wanted in.


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## Rabbithop (20 January 2022)

Sean K said:


> Well waited.
> 
> Breaking $1.30 was important and should be good support now, but it's racing towards ATHs. Unusual action really, someone has wanted in.
> 
> View attachment 136158



Good morning. Just saw it. Now my deliema question to myself, should I dare to push over my line from 1.45 to 1.50...mmm
Well..thou shalt not be too greedy...a bird on hand worth two in the Bush....


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## brerwallabi (20 January 2022)

Rabbithop said:


> Good morning. Just saw it. Now my deliema question to myself, should I dare to push over my line from 1.45 to 1.50...mmm
> Well..thou shalt not be too greedy...a bird on hand worth two in the Bush....



Exited this trade today at $1.43, I mentioned before that I was looking for $1.30 anything over was going to be a bonus.
Good luck with it it might still have so more energy left, everything looking good on the commodity front.


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## Sean K (20 January 2022)

brerwallabi said:


> Exited this trade today at $1.43, I mentioned before that I was looking for $1.30 anything over was going to be a bonus.
> Good luck with it it might still have so more energy left, everything looking good on the commodity front.




If you got in early on potential then it's been a great trade. It's MC is approaching short term limits to me. Over $2b and it starts looking toppie on current resources and potential capex / dilution. But, if they extend the resources much more or find another deposit, it changes the game. I'm happy to wait and see and for potential M&A action.


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## brerwallabi (20 January 2022)

It was always a here, there, everywhere company before, I have followed it for close to almost 20 years.
Seen the share price take off in the early days and then plummet.
It’s possible it could get taken out in a potential takeover then again it could go on the acquisition trail itself.
Hope it finds even more of that yellow stuff.


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## TechnoCap (20 January 2022)

$1.77 within sights all going to my plan please market - some interesting news maybe forthcoming that the privileged few may be privy too


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## Rabbithop (21 January 2022)

TechnoCap said:


> $1.77 within sights all going to my plan please market - some interesting news maybe forthcoming that the privileged few may be privy too



I like your bicycle. Where did you get it?


----------



## TechnoCap (21 January 2022)

Rabbithop said:


> I like your bicycle. Where did you get it?



Hop this is my pride and joy. You can buy these at a bike shop.
DEG explosion to PTSP and I can buy you one


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## Rabbithop (21 January 2022)

TechnoCap said:


> Hop this is my pride and joy. You can buy these at a bike shop.
> DEG explosion to PTSP and I can buy you one



Sending my Thanks in advance.


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## Sean K (3 February 2022)

Falcon infill drilling looks good. Not to sure about the grades below the shell pit below 300m. Do you go underground for 1g/t? You do in a giant porphyr, like East Cadia, but this might need more tonnage. Not sure how much deeper the pit could be made.

The cartoon is hard to read for most, but the circles with numbers represent gold gram meters in the centre of the intersection. So, the one they've highlighted at 600m is 20m @ 1g/t = 20 gram meters.


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## Rabbithop (3 February 2022)

Sold my Holdings. Standing on the sides waiting for low.


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## brerwallabi (3 February 2022)

Rabbithop said:


> Sold my Holdings. Standing on the sides waiting for low.



You might have missed the low, some support found at $1.08.
I did not re enter, was not convinced the correction was over.
Now seeing an ascending channel with a $1.50ish target, will be watching.
Confidence a little higher now so I took a couple of trades elsewhere, guess I may have missed the DEG boat.


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## Rabbithop (3 February 2022)

brerwallabi said:


> You might have missed the low, some support found at $1.08.
> I did not re enter, was not convinced the correction was over.
> Now seeing an ascending channel with a $1.50ish target, will be watching.
> Confidence a little higher now so I took a couple of trades elsewhere, guess I may have missed the DEG boat.



I bought 3 parcels between $1 - $1.30 at different times months ago. Hoping for a better results. In the end I dumped the lot at $1.385 so far I think the share price hit my sold price. I am unwilling to enter at $1.20. On the side line for below $1 when loose motion hit the fan.


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## Sean K (10 February 2022)

Updated presentation out.

The easy money was made on this some time ago but I'm in it for some future upside due to resource expansion that might not be factored into the sp and potential large player interest in buying them out, although it would be a huge transaction, along with expected POG break up at some stage.

Recent drilling all points to the PFS mining parameters expanding considerably. Could possibly go to the 15Mt pa mill option and producing 6-700Kpa.


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## Sean K (15 February 2022)

This infill drilling is excellent but I'm more interested in extension drilling. We already know they can mine this with what they've got, but putting it into the 10Moz category should change the mining metrics for it and could put it into the top 2-3 mines in Australia.

So, 128m@1.5g/t 100m underneath  the scoping study pit at Diucon is significant. They're going to need a bigger pit. Looks like it's just going to get deeper too. Just need to keep the higher grades to make it worthwhile to go underground.


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## peter2 (20 February 2022)

One of a group of three (*CHN, DEG, RTR*) with similar circumstances and potential for further price gains.

All three are sitting on potential tier 1 resource assets that require a lot more exploring and delineation. It's going to take years to fully understand the extent and value of their resource. Another year to plan a cost efficient mining operation and years more to construct a production facility if that's their intent. It's highly likely that one or more will sell their resource before production.

These are not the sort of stocks I want to buy at higher prices. I prefer to buy the dips and profit from future news reports.

*DEG*: Price has been in a range for quite some time. I would prefer to buy this nearer the 1.10 level which is the price of the most recent cap raise. Although at 1.25, price is in the middle of a much larger range (0.9 - 1.65). I would be concerned if price dropped below 1.00.


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## Sean K (20 February 2022)

peter2 said:


> One of a group of three (*CHN, DEG, RTR*) with similar circumstances and potential for further price gains.
> 
> All three are sitting on potential tier 1 resource assets that require a lot more exploring and delineation. It's going to take years to fully understand the extent and value of their resource. Another year to plan a cost efficient mining operation and years more to construct a production facility if that's their intent. It's highly likely that one or more will sell their resource before production.
> 
> ...




Yes, this is going to take years to get to production, especially with the complication of the oxidisation process to be added. Plus, it seems like they're just going to keep drilling and drilling until they get to a point where the resource seems to have maxed out. On the bright side, the infrastructure already in place - roads and power running through the property and close to a port, will be very beneficial. 

I personally wouldn't mind this going back under a dollar. That would simply represent a great buying opportunity to me. Unless, of course, something else changes in the gold outlook. Like it crumbles to a level where it's not economical to spend a billion on capex.


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## TechnoCap (9 March 2022)

Sean K said:


> Yes, this is going to take years to get to production, especially with the complication of the oxidisation process to be added. Plus, it seems like they're just going to keep drilling and drilling until they get to a point where the resource seems to have maxed out. On the bright side, the infrastructure already in place - roads and power running through the property and close to a port, will be very beneficial.
> 
> I personally wouldn't mind this going back under a dollar. That would simply represent a great buying opportunity to me. Unless, of course, something else changes in the gold outlook. Like it crumbles to a level where it's not economical to spend a billion on capex.



Nice movement DEG nice movement indeed


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## Rabbithop (10 March 2022)

Sean K said:


> Yes, this is going to take years to get to production, especially with the complication of the oxidisation process to be added. Plus, it seems like they're just going to keep drilling and drilling until they get to a point where the resource seems to have maxed out. On the bright side, the infrastructure already in place - roads and power running through the property and close to a port, will be very beneficial.
> 
> I personally wouldn't mind this going back under a dollar. That would simply represent a great buying opportunity to me. Unless, of course, something else changes in the gold outlook. Like it crumbles to a level where it's not economical to spend a billion on capex.



I was hoping for that price to revisit and likely it will be, matter of time.


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## Sean K (3 May 2022)

Fairly boring results compared to their other discoveries. Need some wider hits and/or grades. I suppose it shows that there's more to be found on the property.


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## Rabbithop (3 May 2022)

Rabbithop said:


> I was hoping for that price to revisit and likely it will be, matter of time.



I am still willing to wait for my price.


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## Sean K (3 May 2022)

Rabbithop said:


> I am still willing to wait for my price.




Over the past 6 months it seems to have been bought up between $1.07 and $1.13 ish.


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## Rabbithop (12 May 2022)

Rabbithop said:


> I was hoping for that price to revisit and likely it will be, matter of time.



Oh well, just pick up 5k parcel of $1... no regrets...


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## Sean K (12 May 2022)

Rabbithop said:


> Oh well, just pick up 5k parcel of $1... no regrets...




Nice. But, when the market goes into panic mode, don’t discount further downside short term. All depends on your investment tactics and horizon I guess.


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## Sean K (31 May 2022)

MRE upgraded by 25% plus additional into Indicated. Over 10Moz and growing.


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## Sean K (16 June 2022)

DEG have chosen the POX option to put in the PFS. There's no mention of changes to the scoping study Capex which was around $900m, so it must still be in line, or close to. They wouldn't want that number to blow out too much, although they have some excuses with inflation pressures. I'm still sceptical on the price of the circuit due to other mine Capex using POX. Maybe it's OK due to only needing to run 0.8Mtpa.


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## Rabbithop (16 June 2022)

Thanks Sean. Still keeping my eye on it.


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## Sean K (1 August 2022)

This is going to add quite a lot of ounces to Diucon, but not sure if it's high enough grade at depth to go underground. The stuff over 5g/t for sure, but 1g/t UG, not so sure. Looks like it's getting wider at depth which is interesting.


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## Sean K (19 August 2022)

20% is a big chunk of DEG to be holding as an 'investment'. Hmmmm


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## Sean K (26 August 2022)

The PFS is due in the Sep Quarter so just a few weeks time. 

Since the June 21 MRE and the Scoping Study the resource has grown significantly both along strike and depth, particularly Diucon and Eagle. I don't think the last significant intercept 200m under Diucon made the cut off for the PFS so we'll have to wait for the DFS for that to be included next year. 

With the additional resources included in the PFS I reckon we'll see a substantial increase in the projected ounces per year and LOM. Should be over 500k oz pa for past 12 years as a pluck. Maybe out to 15 years. So, this chart below should see the bars higher and further out to the right.

The Scoping Study on the 2021 resource gave this a pre-tax NPV of $2.8b, so with the additional production and mine life that should go up substantially.

Currently trading around the $1.4b mark. I'm not sure if the additional drilling success over the past year has been factored in to the current SP. Obviously have to find around a $bill for the Capex though.


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## Rabbithop (26 August 2022)

I entered this week below 90cts per share.


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## rcw1 (27 August 2022)

Rabbithop said:


> I entered this week below 90cts per share.



Good morning Rabbithop, 
rcw1 still trades DEG extensively.  Not holding at the minute though.  
Have a great weekend.

Kind regards
rcw1


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## Rabbithop (27 August 2022)

rcw1 said:


> Good morning Rabbithop,
> rcw1 still trades DEG extensively.  Not holding at the minute though.
> Have a great weekend.
> 
> ...



Good morning. DEG have been good for me, remembering the running with WAF traders. Will be picking up more around 70 to 80cts next week. Only my opinion n hope. I had stopped trading it n switch to PLS. Another Good one for me. Restricted retiree pocket money, can't spread too widely trading.


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## rcw1 (27 August 2022)

Rabbithop said:


> Good morning. DEG have been good for me, remembering the running with WAF traders. Will be picking up more around 70 to 80cts next week. Only my opinion n hope. I had stopped trading it n switch to PLS. Another Good one for me. Restricted retiree pocket money, can't spread too widely trading.



hook in mate
rcw1


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## Sean K (27 August 2022)

Rabbithop said:


> Good morning. DEG have been good for me, remembering the running with WAF traders. Will be picking up more around 70 to 80cts next week. Only my opinion n hope. I had stopped trading it n switch to PLS. Another Good one for me. Restricted retiree pocket money, can't spread too widely trading.




You may get some in the 80s if the market tanks. You may also if the Capex in the PFS is materially different to the scoping study. Say, in the $1.2b vicinity.


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## Rabbithop (27 August 2022)

Sean K said:


> You may get some in the 80s if the market tanks. You may also if the Capex in the PFS is materially different to the scoping study. Say, in the $1.2b vicinity.



Yes, it could well be that way in the current rocking time.


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## Sean K (8 September 2022)

Sean K said:


> The PFS is due in the Sep Quarter so just a few weeks time.
> 
> Since the June 21 MRE and the Scoping Study the resource has grown significantly both along strike and depth, particularly Diucon and Eagle. I don't think the last significant intercept 200m under Diucon made the cut off for the PFS so we'll have to wait for the DFS for that to be included next year.
> 
> ...




Not a great day for DEG to come out with this, but it looks a little better than I expected, but most importantly, the Capex doesn't look to have blown out way past $1b, which would have been a major worry. So, this is good news to me.

Over 500koz pa for 10+ years is incredible. 637Koz in year 5 will be a banger. 2 year payback is significant for that much Capex. NPV $3.9b v 2.8b in the scoping study is quite a jump. All these figures should get even better with further resource growth and likely exploration success. Not many stand alone mines of this scale in the World.


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## Rabbithop (8 September 2022)

If I am looking way ahead into the company future sp, may be its time to throw in a K on low today...shall wait n see today


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## Sean K (8 September 2022)

Rabbithop said:


> If I am looking way ahead into the company future sp, may be its time to throw in a K on low today...shall wait n see today




Current MC at $1.2b and an NPV of $3.9b pre-tax and $2.7b post tax means there is quite an arbitrage at current price.


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## Sean K (8 September 2022)

Well, this was my tip in the monthly comp hoping that this PFS would surprise to the upside, which I think it did, just, but it's only up a measly 3%. I think general POG downhill slide and risk-off punting is probably holding it back, like a lot of explorers at the moment. Oh well. :-(


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## rcw1 (9 September 2022)

Good afternoon 
DEG rocks  13.4% gain at the minute
Happy days 

Kind regards
Rcw1


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## Rabbithop (9 September 2022)

rcw1 said:


> Good afternoon
> DEG rocks  13.4% gain at the minute
> Happy days
> 
> ...



Happy too just earned myself a profit.


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## JohnDe (9 September 2022)

Rabbithop said:


> Happy too just earned myself a profit.




Same. Have held for quite a while, took the profit today and investing elsewhere


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## Sean K (9 September 2022)

JohnDe said:


> Same. Have held for quite a while, took the profit today and investing elsewhere




I'm holding till it gets to a EV closer to it's NPV on the DFS.


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## rcw1 (9 September 2022)

JohnDe said:


> Same. Have held for quite a while, took the profit today and investing elsewhere



Good afternoon JohnDe
rcw1 will trade until the cows come home … 
Not holding

Kind regards
rcw1


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## Rabbithop (9 September 2022)

JohnDe said:


> Same. Have held for quite a while, took the profit today and investing elsewhere



This is another of my trading stock ,  buy low to sell since the early years. Still recalling having some competition with WAF traders/holders.
My only lament today, bite my bullet and had pay high on PLS n now wish that I have a bit more patience before entering.


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## The Triangle (10 September 2022)

Sean K said:


> Not a great day for DEG to come out with this, but it looks a little better than I expected, but most importantly, the Capex doesn't look to have blown out way past $1b, which would have been a major worry. So, this is good news to me.
> 
> Over 500koz pa for 10+ years is incredible. 637Koz in year 5 will be a banger. 2 year payback is significant for that much Capex. NPV $3.9b v 2.8b in the scoping study is quite a jump. All these figures should get even better with further resource growth and likely exploration success. Not many stand alone mines of this scale in the World.
> 
> ...



Seems a reasonable enough PFS.  I can't see any glaring issues.  My only skepticism is if the grade will hold up as they expect or if it will be 0.1 to 0.2 g/t lower when they actually start mining - which often seems to be the case.   


Sean K said:


> I'm holding till it gets to a EV closer to it's NPV on the DFS.



It appears to be a recent phenomenon over the past few years to push pre-tax NPVs and IRRs in resource projects.   When I look to invest, I always look at after tax profits and I'm quite certain that was always the way it was...  DEG is valued at 48% of the post-tax NPV.  I think that is a fair valuation at this stage, it's still a big chunk of money they need to get their hands on.  Surely Newcrest or someone will look to buy them out.   Will be interesting to see what catalyst there is outside of gold price increases to lessen the gap between NPV and EV.

Below are some excerpts from an old, but still good report on NPV ratios and valuations in the market.   The graph is also from the report and is telling.  Take for example BGL, after the initial feasibility it was probably valued at 100-130% of the NPV and had a resource grade just blow 10g/t.  CAI was an outlier.  They always had/have a very high EV/NPV - but they had low capex and thus lower risk of major blowouts. 

_For the first time in this series of reports, Edison performed a price to project NPV analysis for a sample of 63 companies. The results correlate extremely closely to Edison’s past analyses of companies at different stages of development in terms of variable discount rates. *The ‘average’ project has a published NPV of US$433.1m, an average IRR of 43.2% and the average company valuation is 52.4% of NPV.* However, the skewness of the distribution of valuations relative to project economics renders mean values of much less use in formulating valuations than modal values. *In determining a company’s valuation, we also prove that the most important tangible factor is its project grade,* followed by its IRR, its jurisdiction and its size. However, all vary with time. In general though, investors appear to exhibit a *preference for projects with a lower capital intensity* – perhaps as a consequence of a lack of certainty over the size and direction of future metals’ price movements._


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## Sean K (10 September 2022)

The Triangle said:


> Seems a reasonable enough PFS.  I can't see any glaring issues.  My only skepticism is if the grade will hold up as they expect or if it will be 0.1 to 0.2 g/t lower when they actually start mining - which often seems to be the case.
> 
> It appears to be a recent phenomenon over the past few years to push pre-tax NPVs and IRRs in resource projects.   When I look to invest, I always look at after tax profits and I'm quite certain that was always the way it was...  DEG is valued at 48% of the post-tax NPV.  I think that is a fair valuation at this stage, it's still a big chunk of money they need to get their hands on.  Surely Newcrest or someone will look to buy them out.   Will be interesting to see what catalyst there is outside of gold price increases to lessen the gap between NPV and EV.
> 
> ...




Yes, a major must be looking. I was tipping Gold Fields due to the GOR linkage, but they've got a lot of debt and mild cash flow compared to the others. Newcrest are in the middle of a couple of major growth projects so not sure if they have the capacity to take this on. I would like them to as I'm a very long term NCM holder.

The other factors with discount to NPV are location (not just jurisdiction) and perhaps blue sky exploration potential. The market might be underestimating how good DEGs ground is positioned and the prospect of finding another Mallina. Or, Mr Market is right, and these things are factored in...

That's a great report you linked in there, thanks Triangle.


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## rcw1 (12 September 2022)

DEG rocking 
K A R  C H I N G
Kind regards 
rcw1


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## Sean K (5 October 2022)

For what is effectively still an explorer with a PFS (maybe developer) they are chewing through the cash. A huge management team to work on a DFS. I guess it’s a big project…


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## frugal.rock (5 October 2022)

🤭


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## mullokintyre (3 November 2022)

Gold Road boss Duncan Gibbs may have given a hint to the holder of de Grey mining that they are not satisfied with 20% of the stocks and may go higher. From The Australian


> Shareholders in De Grey Mining who are yet to top up their position through the company’s share purchase plan may want to have a quick listen to the comments made by Gold Road boss Duncan Gibbs before Friday’s cut-off date.
> The $1-a-share SPP is already a no-brainer for those with the spare cash lying around, given that De Grey has been trading above the issue price since mid October.
> 
> But in last week’s analyst call to discuss Gold Road’s September quarter production figures, Mr Gibbs added just a touch more fuel to the speculation that Gold Road may not quite be finished with its 20 per cent holding in De Grey.
> ...



Mick


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## Sean K (3 November 2022)

mullokintyre said:


> Gold Road boss Duncan Gibbs may have given a hint to the holder of de Grey mining that they are not satisfied with 20% of the stocks and may go higher. From The Australian
> 
> Mick




I can't see how GOR can take over DEG unless Gold Fields are along for the ride. I still don't understand why one of the other majors didn't swoop this up earlier. Maybe waiting on the development studies and ore processing capex/opex. Seems like it's going to be around the billion mark +/- which will be paid back pretty quickly. Maybe there's something about the deposit that the majors don't like.


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## Rabbithop (6 November 2022)

Sean K said:


> I can't see how GOR can take over DEG unless Gold Fields are along for the ride. I still don't understand why one of the other majors didn't swoop this up earlier. Maybe waiting on the development studies and ore processing capex/opex. Seems like it's going to be around the billion mark +/- which will be paid back pretty quickly. Maybe there's something about the deposit that the majors don't like.



Make a lot of sense.


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## Sean K (14 November 2022)

Heading back up into a 'toppy' zone again. MC at $2b. Yikes. 

Didn't participate in the SPP as I thought I could just buy it on market at a cheaper price. Dumbass. 

A few gold companies have had a very good last few months perhaps pricing in a bottom on POG. Not really convinced, maybe a bear trap.


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## Sean K (14 November 2022)

Maybe this is why it's been going ok the past few weeks.


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## Rabbithop (14 November 2022)

Sean K said:


> Maybe this is why it's been going ok the past few weeks.
> 
> View attachment 149229



OMGosh! Did I missed my chance..it's power charge the last couple of days


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## Sean K (14 November 2022)

Rabbithop said:


> OMGosh! Did I missed my chance..it's power charge the last couple of days




Dunno. The time to have bought into quite a few gold juniors/explorers might have been when they were in the toilet a few months ago. Quite a few still are in the toilet, but I don't think DEG qualifies for that with a market cap of $2b, that seems pretty big for an explorer/developer and as per @The Triangle 's comments on valuation to projected NPV this might be fully priced. But, when there's takeover talk and a few of the major gold companies need to replace ounces, anything could happen.


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## Rabbithop (14 November 2022)

Sean K said:


> Dunno. The time to have bought into quite a few gold juniors/explorers might have been when they were in the toilet a few months ago. Quite a few still are in the toilet, but I don't think DEG qualifies for that with a market cap of $2b, that seems pretty big for an explorer/developer and as per @The Triangle 's comments on valuation to projected NPV this might be fully priced. But, when there's takeover talk and a few of the major gold companies need to replace ounces, anything could happen.



True indeed.


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## Sean K (17 November 2022)

DEG approached that resistance area and got scared away. Still some chatter in the news about Barrick sniffing about and when linked to the OZL-BHP excitement that's probably the reason this ran a bit the last week or so, but well off the lows. I'm just holding and waiting for the takeover offer. A 500k ozpa gold mine can not remain in the hands of an explorer. The majors must replace their ounces and they are sitting just inland from Port Hedland. Big capex, but it'll be paid back in under 2 years.


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## Captain_Chaza (2 January 2023)

I have entered my old faithful DEG in the 2023 C/Y Regatta

The Good Just Get Gooder!

*Sailing the  DEG ---------One Day at a time





Salute and Gods' Speed





*


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## Sean K (5 January 2023)

Captain_Chaza said:


> I have entered my old faithful DEG in the 2023 C/Y Regatta
> 
> The Good Just Get Gooder!
> 
> ...




Would have been good in the monthly comp too.

Looks like it's trying very hard to go through that $1.40 resistance, might have done it. I've had to skim some profits on this run up. $2.2b MC is getting pretty rich at this stage. Unless something is in the wind.


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