DEG launches placement, page-69

Hi @JoseyWales33

I hope that this answers your question. I simply divide the number of shares on issue (at the time that I bought in to DEG) by the number of ounces (proven and probable in the case of the pre-Hemi discoveries) and estimated by Argonaut in the case of the Hemi discovery. When I bought in there were only 1,100,000,000 shares on issue and 2 million ounces in the ground. Divide shares by ounces and you get 550 shares to the ounce. At ten cents a share that means that I was buying ounces for $55 when I bought in to DEG.

Man, that number is so out of date post Hemi. I am now looking at $42 an ounce post Hemi using just the Argonaut figure of 1.2 million ounces. I realise that I am going to have an enormous capital gains tax liability every time I sell shares once I have recouped all of my carried forward capital losses.

But you know what, I never thought that I would ever get to recoup those losses based upon past performance. That is an additional bonus. DEG is a gift that just keeps on giving.

Cheers

DigDagg