Ann: Major extensions to Eagle and Diucon, page-40

The conversation around a TO is even more so interesting when it comes to De Grey. Suitors would likely be making offers under the guise of only being interested/assigning value to primarily Hemi as defined by the DFS. We all know this is not the true value of De Grey and the exploration potential of more gold and even lithium is high, but how do you assign a value to that. Buyers would try to diminish it and De Grey the opposite.

If a sale of Hemi alone eventuates that brings its own complexity, because where do you draw the line.

I think the market is only valuing Hemi currently. When the DFS was released there was a lot of conversation around comparing the NPV to current market cap. This is short sighted, but positive in a way because as the resource and regional areas are sured up, market cap should come with it.

Exciting times.