Bas, Watermelon and Bratty, I suppose that you have read that Northern Star has bought De Grey Mining for $5 billion (scrip and cash) for its Pilbara gold.
DEG made a beautiful gold discovery about 5 years ago, in an area not previously known for intrusion-hosted gold. mineralisation. NST will mine it.
I know that large holders here at SPQ have high hopes for Steam Engine, given its current shallowness and potential large size. In hindsight, the company could have been better off concentrating on Steam Engine instead of fiddling around with the copper etc at Bottletree and Cockie Creek. But that is water under the bridge, eh!
How do you 3 see Steam Engine, potentially?
This is from DEG's website:
De Grey Mining Limited (ASX: DEG) (De Grey or the Company) is a Western Australian gold explorer and project developer which has made one of Australia’s most exciting new gold discoveries at Hemi in the Pilbara.
The Company listed on the ASX in 2002 as a multi-commodity explorer and has had a presence in the WA Pilbara region since inception.
Today, our primary focus is the 100% owned Hemi Gold Project in the Pilbara. Here, in late 2019, we made a large scale, high value, near surface gold discovery at an area called Hemi.
The Hemi discovery is an intrusion-hosted form of gold mineralisation which has not been previously encountered in the Pilbara. The high value of the discovery is driven by its size, grade continuity, closeness to surface growth potential. The deposits have the potential to be mined by large scale, low strip ratio, low cost open pit mining methods.
Expand
(20min delay)