As soon as someone hears the words Capital Raising, it starts ringing bells and is often taken as a negative by the markets, including myself.
My initial reaction was to rush through the doors and make a quick exit. However having thought about this over the last two days, I have decided to give the company another 3 months to prove itself and make progress towards production.
The director Simon Lill has been pretty confident about developing an open pit mine at Wingina and given the high grades identified this is likely a possibility if the money raised this time around is invested wisely.
Gold is recovering nicely since the last drop and it is only going to get better with the US elections approaching. I am happy to hold until end of this year and see if things get any better for DEG. If not, I will sell at a loss and so be it. This is the risk everyone takes with penny stocks and this is no different. Well this my decision, others can make their own. GLTA.
DEG Price at posting:
0.4¢ Sentiment: Buy Disclosure: Not Held
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