Ann: Retraction of study expansion announcement, page-73

I think you hit the nail on the head Albert, DEG is running out of time to raise the large amount of capital they need without massively diluting shareholders.
I trolled through the past 3 years of DEG announcements this morning and came to the conclusion that they have badly fallen behind their planned milestones....



They had $5.5m as of Dec 18, with $2.5m to be spent this quarter.
They will have $3m at the end of march, yet need $9.7m for the payment in July, plus more just to ensure they don't have to re-raise again for the Sept Quarter. Oh, and the payment includes $3m worth of shares at a average 90% of the current share price. This will likely be almost 10% of the company alone. Is the seller of Indee going to hold onto their shares? They will possibly have around 33m shares.

I find DEG quite frustrating, as they don't really provide clear timelines for things like when they are actually going to provide the market with the Pre-feasibility study. Although there are lots of vague mentions. 

Just seems like there is a lot of potential here, but I just cannot get my head around whether they are exploring for more ounces, or more reserves....