They were not going to be producing gold any time soon, it costs millions upon millions to operate a fully producing mine, money which DEG did not have.
The only way was to find enough gold deposits to prove to a bigger company that a JV would be the way to go, and going on the last few months this was very unlikely to happen.
What looked like a promising little company a few months back has quickly turned into a total dud, underwhelming announcements was a real red flag, and now the CR which was always on the cards is now going to dilute the amount of shares even more.
These CR are a bugger if your looking to make a quick profit from penny stocks, as the price of the CR can be a real resistance level for quite a while.
There's no doubt the CR will be at .001 or .002 as this will be a lot more attractive for investors then .003 or .004.
Ann: Request for Trading Halt-DEG.AX, page-12
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Last
$1.48 |
Change
-0.045(2.95%) |
Mkt cap ! $3.547B | |||
| Open | High | Low | Value | Volume |
| $1.46 | $1.51 | $1.46 | $9.182M | 6.186M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 138169 | $1.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.49 | 93049 | 3 |
View Market Depth
| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| DEG (ASX) Chart |