Ann: 6.8Moz Hemi Maiden Mineral Resource drives MGP to 9.0Moz, page-112

Personally I am surprised that there wasn’t a bigger sell off on the news .DEG hasn’t done anything in terms of share price appreciation for 9 months and its remains hugely overvalued for an explorer stock .
They have made a good discovery but it is by no means unique world wide .
One must ask what now???More drilling to prove up in ground resources which aren’t worth much if there is no prospect of producing gold ,generating cash flow and subsequently dividends for shareholders anytime in the next 2-3 yrs .A takeover seems very unlikely given the overvalued nature of its reserves .
Clearly some of the originals have moved on seeing little prospect for further gains after the big move up 18 months ago .
Just to compare DEG is valued at 1.6 billion for 7 million ounces .One of the Canadian explorer stocks that I track exploring around Val D,Or Quebec announced today major drilling results with 4 million ounces and a mill that is permitted and needs a little upgrading ,it is valued at 150 million Canadian or 1/10 th the value of DEG .
Or Detour lake which KL bought for 2 times the value of DEG ,it included a highly profitable 500,000 +ounce per year operation and mill and reserves way more than DEG .