Ann: Option to Acquire the Ashburton Gold Project, page-58

I find it interesting to compare DEG to other miners ,I have often mentioned Artemis (which I dont own).They are a complete contrast to DEG .They have a 10million ounce Blackwater deposit in British Columbia .They are laser focused on building their production plant ,they are not drilling ,they are not acquiring other companies (like Ashburton and Novo) so all thier resources are being employed to build the plant ,thier management team has a track record of successfully building big plants .They are about 2-3 months from first gold pour and are thus on the right side of the Lalonde curve .Plant is being built on time and probably under budget .They trade for 2/3 rds the value of DEG ,even in this lousy gold market their share price is increasing .There are other discoveries around them (IGO) but they are ignoring that for now while they get a plant built and cash flow established.
At this stage thier is much less risk to Artemis than DEG who is pursuing an opposite strategy
Pretty obvious which is the better buy .It should be noted that Agnico (a sharp operator)a few years ago bought a 500,000 ounce plant and 30 million ounces at Detour Lake for about 3.5 billion ,so 10 billion dollar estimates for deg in 4 years represent “cloud cuckoo land”.