DEG 1.62% $1.22 de grey mining limited

Ann: High gold recoveries achieved at Hemi, page-122

  1. 2,524 Posts.
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    Not sure it has been mentioned before,but looks like a classic "running of the stops".
    Many would have placed stops below the lows of the past week.
    Some would have bought in on this positive news and dutifully place their stops....well I hope no newbies got tossed out-if you've been in this for a while,you are just realizing a big profit,but perhaps not as big as this trade is yet to offer.
    This sort of thing is happening with a few other goldies e.g.BDC announces a good cap raise,pulls back, and then starts to take off again.
    Asculpeous thinks that this will be the same with DEG,particularly if we get some useful drill results.

    Today's announcement was even more important than drill results as it affects the Capex and overall economics of the whole project.Before it was a known unknown,and had Asculpeous a little worried that we might have refractory ore and have to go through a long metallurgy process and a very high capex-hence much happier and tends to confirm that this pull back was engineered to tree shake and allow some bigger funds and instos get decent holding holdings.Perhaps shortselling is used to give a nice profit for the day,but we should see a snap back over the next day or so.
 
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