Hi Wack,
I like your conservative numbers and the work of Shamer.
I’ve been doing the numbers myself and I came to that same very worst-case scenario of being only 20 Million ounces in the ground at Hemi alone. That is not to say it is not insignificant as I believe it is the biggest single gold discovery in the last 2 decades on this planet.
Now to put that into perspective for the people that I believe are in the most part retail selling and trading currently being about 27% of the entire shares of De Grey, The top 50 holders of De Grey are holding 73% and are not budging. The current volume is very low and many new comers who have missed this opportunity early are buying up now and trying through various guises to encourage others to sell at these exorbitantly low prices and we also have some village idiots here and they are part and parcel of this world. I think it’s best for posters to ignore the idiots now rather than throw more wind in their sales by responding.
With the recent cap raise even Kirkland Lake jumped in @ $1.20 and we all know how Uncle Eric likes a bargain and likes to 5, 10, 15, 20 bag his investments. He has been very silent on DEG for a long time but I do often see he promotes a stock after he has enough of it in his hands.
When it comes to this worst case scenario, the Kalgoorlie Super pit has mined around 19 million ounces so far since 1989 but they have upgraded their resource since August this year as they have discovered another indicated 2.2 million ounces down below.
So on your 10% model you are quite conservative but on par with the Kalgoorlie super pit Mr Wack or should I call you Mr Wick? You are quite exacting and talented.
I personally think we have to multiply the conservative estimates by 3X at Hemi alone to around 60 million ounces to be accurate and also very conservative considering currently available data. So much more data to come and much of this is open in many directions and the widths and depths and grades are very encouraging all round. We don’t often see that ever.
Time will tell and we are all in for exciting profitable times being involved in this stock.
The ignorant count cents and days and the wise just see years and count their dollars.
Q.
(20min delay)