Gryphon (ASX:GRY) was a good company and management did well in proving up the Banfora project. Eventually they sold the company for ~$100m in 2016 to Teranga (TSX:TGZ). I believe TGZ got it for a bit of a steal, nobody wanted Banfora at that time, USD producers in Africa have been heavily marked down since 2013 and remain so to this day - warranted probably because of the slim margins in USDs. Australian producers and their margins have been the way to go for years and will continue so as the AUD falls over the longer term (a bit off track macro theme, sorry).
Back to DRG, management have a decent track record and found 3.6m ounces in Burkina Faso - if they're excited then there's probably good reason and it's not all hype. Reckon they also learnt a lot from GRY which will help them make better decisions with managing DRG through its discovery phase.
Ann: High Grade Drill Results and Further Visible Gold, page-65
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$1.43 |
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0.045(3.25%) |
Mkt cap ! $1.830B | |||
| Open | High | Low | Value | Volume |
| $1.43 | $1.46 | $1.42 | $6.930M | 4.833M |
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| 1 | 6000 | $1.43 |
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| Price($) | Vol. | No. |
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| $1.43 | 64055 | 2 |
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