Following the issue (after offer expenses paid), the EV will be $25M based on the cash & equivalents at 30/3/19 and expected quarterly expenditure and so DEG has become better value after recent resource increase to 1680 Koz. I calculate an EV to Resource of $14.8/oz which is lower than AZY at $15.7/oz and which has equivalent JORC resource along with multiple prospects like DEG.
The Board does seem to be remiss to have left the CR until their back is against the wall and so be driven into such a heavy dilution.
I am carefully considering whether to buy in but the SP history with this explorer does not indicate any need to rush, especially with the massive dilution.
Ann: Board Appointments, page-12
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Last
$1.34 |
Change
0.010(0.75%) |
Mkt cap ! $3.211B | |||
| Open | High | Low | Value | Volume |
| $1.34 | $1.35 | $1.33 | $4.913M | 3.664M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 61666 | $1.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.35 | 111786 | 5 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| DEG (ASX) Chart |