Broker reports, page-8

A few more snippets from Argonaut for the bullish exploration upside view:

"DEG has a corporate goal to define a +5.0Moz resource at Hemi, with the majority in the Indicated category. Due to the wide mineralisation, this should be achievable on ~40m x 40m drill spacing. Argonaut believes +5Moz is highly plausible given that broad mineralisation remains unconstrained from drilling to date. Intrusive systems like Hemi are commonly deep seated which should lead to significant depth potential."

"The five deposits which make up the existing 2.2Moz gold Resource remain open. DEG has the opportunity to grow these resources and make further non-intrusive related discoveries to incrementally add to the Mallina gold inventory. It is conceivable that known deposits could surpass 3Moz, which when combined with the 5Moz corporate target for Hemi would equate to +8Moz for the Mallina Project, excluding the potential for more Hemi-like discoveries."

"A recent aeromagnetic survey has shown several more clusters and small features interpreted to be intrusive bodies around Hemi. Over the greater Mallina Project, this survey identified greater than 20 new magnetic features, also with potential to be Hemi like mineralised intrusions."

Looks like Argonaut are pegging current resources of 6moz (based on what we know to date). Doesn't take an enormous amount of upside from all of the surrounding areas to get that to 10moz+, and assuming a 50% conversion factor (feel free to chime in if this is too aggressive/conservative) would equate to ~5moz reserves, which would likely facilitate a 300kozpa 15-year mine life style operation.

How big is it?