Hi @q1w2, Well I'm puzzled, not pleased. DG is valued by...

Hi @q1w2,

Well I'm puzzled, not pleased.

DG is valued by Canadians (instos, retail and other Li explorers) at A$2.63m ( @Trade4Profit88 post ).

Given their "assets", how is this possible?

The answer might be found . . .

a) on their web site ( https://www.dixiegold.ca/redlake ) : exceedingly poor project presentation over many years (are management really interested ?)

b) on their recent win against Barrick : why would Barrick attempt to get control of Red Lake for nothing ?

. . . almost certainly because, to them, it is worth nothing. They could buy DG now for less than an exploration campaign.

Why would OM1 SH want a reverse takeover (one shelf by another, lol) because . . .

a) the only DG asset with credible value is at Big Bird and Curlew in the Phoenix project,

although Lithium at Red Lake looks probable and very accessible, but Torp Lake is above the Arctic Circle and not.

The U and Au projects are not assets, just possible targets and certain distractions.

b) the huge LdM prospect may well be more than enough for OM1 to manage. ( LLI is about to attempt a similar trans-Hudson straddle. )

c) acquire a lack-lustre team from DG

An acquisition of Phoenix and Red Lake (Li only) might make sense, but otherwise entanglement with DG is unwelcome.

PS: something is not quite right here; it reminds me of (TSXV:ULT) ULTRA's recent attempted move on PNN.

Caveat : NFA, and all views based on DG docs, not from OM1 docs.

@Rye1208 See photos on https://www.dixiegold.ca/phoenix-media