Ann: Change in substantial holding from DGO, page-4

Should add here that I haven't got my head around whether DGO really has the whip-hand on the DEG board... or not... and even whether it's necessarily a bad thing if they are calling more of the shots.

They have about a tenth of the equity, with the likelihood of adding a little more through the latest CR, as well as exercising their share options (which are way out of the money). So on the face of it they're the largest single shareholder but hardly a dominant force on the register.

Against that, they have two board seats and they seem to have got their way on some significant decisions at board level over the last 6 months. The grant of bonus shares looked undeserved and it's going to be questionable again if they end up with an opportunity to buy another $500k of shares at below market prices if/once they get approval from shareholders under the latest CR.

What should sound the alarm bells for other shareholders is any further sweetheart deals on shares or cheaply priced options. But if that doesn't happen and if it's DGO who is pushing for an accelerated drill programme (which then comes up with the goods in getting DEG to a resource of 3M or more next year), the situation might look more positive.