Many explorer stocks are incredibly cheap right now (with the...

Many explorer stocks are incredibly cheap right now (with the exception of DEG).WM which has the Fenelon project in the Detour lake area has 5.5million ounces indicated and inferred and the company is currently valued at 90 million Canadian.It used to be a favorite of Eric Sprott and he was touting it when I think it traded around 1$ a share (now around 10 cents canadian).Ordinarily one might think it would be super speculative but Tony Makuch is the chairman ,he has been incredibly successful in the mining arena in the past having led Kirkland lake gold.That’s now part of Agnico which owns the Detour Lake mine which is close by Fenelon.I don't currently own it.
Not much will happen with DEG until they can get all their environmental permits.I would think the company is anticipating that will be next summer since that is when they are anticipating the bank loans will be completed .No bank loan will be feasible/completed until all permits are in place.
That doesn't mean that there wont be 100 news releases between now and then but like many in the past including some very recently they will lack significant content .The recent feasibility study /recent press release recognizes this fact though in the past the company had permitting and bank loans interdigitating.This has resulted in timelines slipping which increases costs.
Nice profits for traders/insiders in DEG recently sold at 1.45 bought back at 1.05 and can now sell in the 1.20,s..