Ann: 6.8Moz Hemi Maiden Mineral Resource drives MGP to 9.0Moz, page-105

Hi Formymates,
On another assessment, I find that, today, DEG closed with an EV to Resource of $167.7/oz.
That is on the high side for me but I am prepared to accept that in view of the size of their (undeveloped) resource and expectation of more to come. Of course, we have seen a number of explorers valued higher than that because of higher grades (BGL, AUT, KLA) but large quantities of lower grade ore can also provide long term profitability (eg Cadia).
If nothing else, DEG is becoming a take-over prospect for the world majors who are facing a shortage of reserves. DEG has some way yet to declare reserves but companies will use their own metrics for conversion of resources to reserves to determine value. With a resource of 9Moz in a single area and with a high proportion of indicated resource, DEG is now entering serious territory.