There has not been a single tier 1 gold discovery in the last...

There has not been a single tier 1 gold discovery in the last 3-4 years.

This compares to recent decades where 5-10 p.a. was considered normal.

This means any Tier 1 deposit found today will always attract a significant premium. Investors always flock to the best of the best.



De Grey's Hemi deposit is targeting a 12m oz resource and a 12 year 500kozpa operation, per management incentive options.If achieved, this would put Hemi in the Tier 1 category.

If proven, it would be first company making tier 1 deposit at discovery since Tropicana in 2005. Big shoes for DEG to fill.

Important to understand that the major's are characterised by declining resources/reserves at a time when free cash flow generation is the highest it has ever been, while balance sheets are in great shape and mostly net cash.

Major's need these new discoveries to fill the void!