Ann: Investor Presentation - Bell Potter Unearthed Conference, page-24

Hi Kamprad, it is certainly more than surface mineralisation there. DEG did do an aweful lot of drilling there a decade ago and had great asx release titles like "drilled for gold and found a vms deposit", and "drilled for vms and found high grade gold!" , it was exciting times before they threw it all away and headed to Patagonia.

Essential they may well have a decent zinc dominated and economic vms deposit in that area but it required a lot more $ for deep drilling than DEG could interest folks in buying into at time. I did call Dennis our MD at the time about some of this, and he was really hoping to tempt a mid cap explorer into a jv to drill it all out properly, but alas that never happened. But now we are a mid cap then hopefully we will get there one day as well.

But VMS will require a different style of mill and UG mining, so hopefully will be in the second phase of DEGs long term evolution to become the BHP of the Pilbara. Certainly the Hemi gold is top priority now.

But the old King Col lithium is another story with the pegmatites there. A very much under explored one that unlike the VMS deposits could be mapped out at rather low cost as a side play for DEG that doesn't really distract from the main gold focus but does flag DEGs future potential in lithium. It would be great to have that Ace up our sleaves if in fact there is a substantial deposit there. I certainly support a small program there given the current focus on lithium stocks. But also understand that DEG will go nowhere if it tries to advance gold, vms and lithium at the same time.


Sometimes its just nice to know what assets you are sitting on tho for the next phase of the life of DEG when theres a need to spend the Hemi profits on something!