Her Gmeister,I thing the key reason for Glen and friends wanting...

Her Gmeister,
I thing the key reason for Glen and friends wanting to take this to production is demonstrated nicely by yesterdays monster length intersection below Diucon. Given the nature and scale of Sanukitoid intrusions elsewhere, there is a very strong likelihood that there are many more major underground deposits like this yet to be discovered, both in the Hemi district and more widely throughout the DEG holdings wherever the intrusions are found. And they are found from east to west, as outlined in the presentation yesterday with the recent work north of Toweranna. Some discoveries are likely to be high-grade where subsequent alteration over the past few billion years has concentrated any re-mobilised gold, but perhaps there will also be lots of deposits like yesterdays discovery (and that have vast areas of lowish but economical grade gold) all hidden far enough below cover to not be readily discovered by RAB-style initial drilling, but needing RC and DD to get there, maybe just by following the course of these intrusions underground. Follow the Yellow Brick Road!

All of this takes time, and as we discovered recently, the need to adequately define the resource to a bankable FS stage, requires a pile of additional drilling to add confidence to the overall mining reserve. The only problem with that, is while it gives a strong indication of the economics of a future mining operation, it distracts from new discovery, so the discovery rate over the past year has significantly slowed relative to the previous year, and some investors get discouraged by that, without perhaps understanding the value that increased confidence in the mineable reserve gives the folks we need to borrow money from to fund the mine development. This next year should see things flying along again in the discovery space, but if we are taken over before getting into production, say in 6 months after the FS is out (expected later this Qtr, and the kind of stage where big players are best able to run a ruler over the whole package as a potential investment/takeover), we will only benefit from the current in-ground estimate, and not any of the blue-sky that the Sanukitoid intrusions offer. I think the current SP has seen the bubble of excitement around blue-sky potential being very much deflated in this risk-off environment, and instead, valuing DEG only for the value of the existing asset and its potential (as outlined in the PFS).

The current DEG management and geologists will be well aware of the real possibility that this Sanukitoid system might be bigger than Texas, and I think yesterdays announcement flagged that it ain't over yet around new discoveries. In fact, I suspect we may just be beginning that phase, and if we can hold on long enough, a few intercepts like this away from central Hemi (e.g. Scooby, or the many adjacent areas with only surficial exploration to date) may well open some more eyes to the potential here. Of course, this is only speculation based on observations of other Sanukitoid systems, but hey, I'm up for backing a horse with a track record, just like the Sanukitoid systems in that little old Craton to the south of the Pilbara where the lack of transported surface cover has enabled things to be found a little faster.....