DEG - De Grey Mining

[Sean K]

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.

 

[Sean K]

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]

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]

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.

 

[Sean K]

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.

 

[Sean K]

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…

 

[Rabbithop]

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.

 

[Sean K]

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.

 

[Rabbithop]

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....

 

[brerwallabi]

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.

 

[Sean K]

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.

 

[brerwallabi]

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.

 

[TechnoCap]

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

 

[Rabbithop]

$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]

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

 

[Rabbithop]

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.

 

[Sean K]

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.

 

[Rabbithop]

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

 

[brerwallabi]

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.

 

[Rabbithop]

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.