Ann: New Gold Zone Identified at Withnell South, page-20

Interesting to look at relative valuations .
Today a high grade gold find (5-6 grams per ton)5 times Deg with 12 million ounces or so with all permits in place ,financing approved and a 250 thousand ounce per year facility (rapidly expandable)with mining to begin in a year has been bought out for 800,000 million Canadian .The mine facility has/will cost about 1 billion Canadian in total .About 3-4 years minimum ahead of DEG .Half the financing provided by Wheaton (a high quality royalty company)through sale of gold royalties .
What is happening is that most of the big deals are done/pending .Not many big miners out there to buy .
It will move on now to the mid tier producers ,this is where the money will now be made ,
Interesting statement from Barrick ceo the other day ,they are growing organically ,not interested in buying out reserves which are overpriced .Been there ,done that in the last boom and it didn't turn out so well.
Interesting to observe how DEG coughs up a news release to keep the troops happy when the share price drops .Potential profit in DEG even is they are successful is quite minimal over the next. 5 years ,Big money has already been made based on what comparable projects are selling for worldwide .
Management absolutely superb at finding reserves and public relations to maintain the share price .
The question that I have repeatedly raised ,will things work out so well building a massive production facility with no cash flow ,inflation and interest rates rising and a POG that really isn’t doing very much .