Your asking good questions that are on the minds of many.
Answers will come in time by their actions, but in the meantime, the effects of this CR are going to take there toll. It'll will probably take a minimum of 3 months for the stock price to stabilize. The market place, by nature, will provide future opportunities to make some of your money back with a bounce, once the dust clears. I'll probably bounce in and out of DEG to recover some of my funds. My days of holding are over until they raise capital to produce.
In hindsight, I started getting uncomfortable in Nov 2018 when they moved the goal posts but mainly because DEG share price wasn't re-rating with news. Market used to give us 40-45 Aud/oz in early 2017 for our Resource Estimates and dropped straight through to early 2019 to a pathetic 25-30 Aud/oz. This whole time we released above average results. The average grade of a gold mine in the world is 1.6 g/t. We are at 1.8 g/t? Ours is shallow, costs are in AUD, Revenues would be in USD. Why couldn't a PFS indicate profit at say 2.2 M/ozs?
In my view it's up to the new Board to find answers to some of these questions. Previous tactic of ignoring Market Price perceptions, and hence share price, doesn't cut it. Especially when that the vehicle used to do Cash raising!!!!!
There is hope because DGO shareholders have doubled down on a big DEG gamble and I think this ED fella will demand a few changes.
DEG Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
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