Ann: Half year Financial Report - December 2022, page-2

Cash burn rate less than the prior year due to a reduction in drilling expenses.
Large percentage increase in interest income related to the rapid rise of interest rates in Australia and worldwide which continues .
Enough money to keep them going for about 18 months or so and then more capital raises will be required to fund operations .
Rapid rise in interest rates which continues and will inevitably have a huge effect on the cost of financing such a big mine ,no matter what expressions on interest from banks.
POG declining related to fears that inflation is remaining stubbornly high .
Price of gold stocks being significantly affected worldwide.
DEG continues to do a superb job with public relations and multiple news releases with no discussion anywhere of the risks of attempting to build such a large mine with no cash flow,high inflation and rising interest rates.
Virtually every producing miner worldwide in their news releases is documenting the difficulties in mining gold right now and the severe cost pressures they are under.

The irony is that DEG has done a superb job of maintaining their stock price in this terrible investment climate ,the irony is that this will mean their is little chance of a takeover of DEG due to the high stock price .No major worldwide would spend 2 billion in cash to buy DEG ,and their paper(ie gold major share price )is down a lot .Majors go after cheap production, not expensive in ground reserves .Agnico/KL bought Detour lake for 3.5-4 billion Canadian and got a 500,000 ounce per year plant and 30 million ounces of reserves .Using the same valuation Deg might be worth 3.5-4 billion, 5 years from now when it will have spent north of 1 billion for a plant plus several hundred million to finance and keep going until profitable production ,assuming all goes well ,so little opportunity for profit long term .clearly though a good trader stock related to the excellence of DEG management keeping the stock price up.
The value of inground reserves declines with time so if one discovered gold that wont be produced for 20 years it has virtually no value as compared to in ground reserves that will be produced in a year for example.
Deg has been a successful trader stock for the last 2 years ,buy at 1-1.10 $ and sell around 1.35 to 1.45.
Management seems to exist in a bubble which belies reality in the current bear market.Time will tell if they are correct in their boundless optimism or it is severely misplaced.