DEG (ASX) Ann: Underwritten A$600M Equity Raising

Originally posted by Arh0070: ↑

Glad to see the propagandists are beating the drum for deg even though the announcement is not good news for existing retail shareholders sucked into buying by these people .
Most of the early buyers are long gone ,they made 3-10 times their money or more and are long gone onto greener pastures.
For 3 years now DEG share price has done nothing and this will continue .
The reason why many discoveries are not developed by the same management is because its a different skill set .To make a discovery requires risk taking and an entrepreneurial mindset ,to build and operate a mine requires detail orientation and operational management .This is why so many mine developments get into trouble .Seen it over and over again .
It is quite obvious to me that deg management does not have the laser like focus to build a mine .They will all be replaced by the big boys when this project gets into trouble.
Contrast this to Artemis which is up 50% since I mentioned it .the 10 million ounce deposit was found by Oliphant et al ,they almost went bust had to sell the Blackwater deposit for cheap (about 15$ per ounce in ground)another group came in with experience building mines ,had laser like focus no buying other mines ,no exploring just get the mine built and operating within budget and producing cash,this is what they have done and they are about to begin producing and at a lower AISC than DEG .they built a 150-175,000 ounce plant and already are planning an expansion .This is the way to go .
The plant DEG plans will be way more expensive than they have admitted ,it will take much longer .All this messing around exploring and buying another mine whilst trying to build a huge plant is foolish and is a window on the hubris of the management team .
This is not good news for GOR ,they just have a 20% interest and profitable production is years away (the banks will need to be paid off first) .Details of the bank financing when it occurs will be at a high interest rate ,with some production pre sold and royalty payments will be included in the package since DEG has no income source .The other deal was obviously cancelled because they found out about this financing .A lot of their cash flow is being sucked up by DEG with no profits for years .I have little doubt they likely regret their purchase of deg ,now they are stuck with it .
In many ways this is a shame since the initial discovery was/is fantastic .But missteps outlined in my various missives over time is progressively spoiling that .This is the personal opinion (which might be wrong)of a private investor who currently has no financial interest in DEG (very different than many who post).
Sayonara deg board .

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Gold price is up approx $650 USD per ounce (near +40%) since GOR picked up the DEG stake from DGO in Jun/July 2022 - something tells me GOR are feeling pretty comfortable about their purchase (as a GOR shareholder I certainly am!) - the gold in the ground is getting more valuable by the day . GLTAH - this is only getting started!