Ann: Underwritten A$600M Equity Raising, page-14

Well what a surprise ,I have been predicting this for a long time .All the boosters have been busily promoting the stock primarily to novice investors .Pretty much anyone who has bought over the last 3 years will loose money .Clearly no bank would be prepared to 100% finance such a large project so a large capital raising at a lower price was inevitable.The share price has been steadily falling whilst the price of gold went up indicating there was some selling going on related potentially to some news leakage allowing some people to sell and buy back at 1.10$ Au or lower just like the last offering .
Clearly all the rubbish about a takeover from gb girl et al was just that .DEG is going to try and go it alone .Wonder what a fly on the wall is hearing in the GOR boardroom .It will be interesting to see how much money they actually raise .I expect a lot of drum beating and the booster club is going to be busy.
To build such a large and complex plant in the current financial environment is fraught with risk ,they are continuing to fund exploration on their and nvo property ,they have to buy Ashburton in a year for 30 Million or loose the 3 million dollar option payment to KZM.Very very few explorer companies have been successful in such a large endeavor .Many have attempted it ,many have failed .More paper has been created .Whether this is the last capital raising or not we will see over the next 2 years plus ,I suspect not .They could have opted for a smaller plant built for cash and subsequently expandable out of cash flow ,a much safer option .
DEG will remain a trader stock for the foreseeable future .Cant see any capital appreciation for years but we will see.
This is NOT the best gold discovery globally in the last 40 years.