Yes, it is the grade, they will need financian for a mill and there is no evidence of profitability when compared to Spartan Resources and the fact that Spartan has no debt and has already paid for a Mill. As I said I hold both and have done extremely well with Spartan. If you listen to Mine of Management a while back when they were talking about Calidas's issues they mentioned, they thought it might also be the reason why it is holding DEG back. Calidis is now a mess because they had hedging in place and borrowed from Macquarie. I had a brief look at there PFS and DFS and it showed that Margins were suppose to better. Production and margins were significantly worse. As a result they were never going to meet delivery of the hedges and they were losing money as the hedging was done at a lot lower gold price. They said even at today's gold price they still would of had issues, based on production. So there is still a lot of risk in this.
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Open | High | Low | Value | Volume |
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37.0¢ | 29636 | 1 |
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1 | 8000 | 0.360 |
1 | 80000 | 0.355 |
1 | 34016 | 0.350 |
2 | 35791 | 0.345 |
Price($) | Vol. | No. |
---|---|---|
0.370 | 29636 | 1 |
0.375 | 19475 | 2 |
0.380 | 128376 | 8 |
0.385 | 32000 | 3 |
0.390 | 70300 | 4 |
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