Ann: Trading Halt, page-46

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timmo

3,029 Posts.

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17/07/19

16:37

Post #: 39565744
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Originally posted by AlbertaRounder ↑

To clarify, I put no blame on management for drill results produced from these assets or any of their exploration decisions. I think most of us on this board feel comfortable in their project management ability. My issue involves the relatively easy cash burn calculation and related financing decisions that have, or have not happened since late 2018. Easy to change the Resource Target to 3MM/ozs in Sept 2018 but zero explanation on why it was necessary or how the'll finance it. Indee saga going on since 2017 as outlined below with no explanation as to why such a fundamentally important agreement hasn't been finalized after more than 2 years? Even before Indee settlement management will have half a billion shares out to attain our current 1.7 M/oz resource. Resource updates are only adding 20% each. Two more years drilling and a plant are too much to ask of our capital structure. Financing plan???? Or am I expected to sit back and await financing consequences? Show me a feasible vision is all I'm asking.

Pilbara Gold Project increases gold resources by >20% to over 1.2Moz, 28 September 2017

2018 Total Gold Mineral Resource increases to 1.4Moz, 3 October 2018

2019 June 1.7Moz 21%

Acquisition of Indee Gold provides scale and development momentum, 9 February 2017; De grey executes Indee Gold Share Sale Agreement, 30 January 2018; De Grey executes Indee Gold Share Sale Agreement, 12 February 2018; Indee Gold – Acquisition Update, 6 September 2018Indee Gold Settlement Extended to July 2019, 21 December 2018

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this works for me, although i haven't seen this model since i was 9,
better from the horses mouth than hot copper>

regards timmo
DEG Price at posting: 9.4¢ Sentiment: None Disclosure: Held
8 Upvote

1 Great analysis

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