Ann: A$31.2 Million Capital Raising, page-185

Why scary? Only if you think the gold is not in the ground.
Pre the Hemi find, DEG had a defined resource of 2.2Moz with the high likelihood of that being increased. Hemi is still to be defined but opinions expressed are that we can expect another 2.5+Moz and so lets say 5Moz overall. On that basis, and with its expectations for even more from the other discoveries, DEG is not a scary market cap IMO.
The MC is $426M with today's increase in shares. That gives me a JORC EV to Resource ratio without Hemi of $177.4/oz, which is of course pretty high for an explorer without a DFS. However, if we include the assumed 5Moz for Hemi and the other finds, then we get $78/oz, which is still high for an explorer but not not out of line with other "prospective" companies like BGL, BC8, MGV at $156.4/oz, $104.8/oz and $69.4/oz respectively, based on JORC resources to date.
Sure, the companies that I reference all have different profiles but they are still all in the explorer phase without a DFS defined and hence no reserves definition.