Carl Capolingua Likes EMR-(A lot), page-5

Nice spot Beanpea. What also caught my eye was the paragraphs below where he talked about De Grey Mining (ASXEG) - which, imo, is which BZ are closest to in stage (debate). The need for DEG to secure $1 billion of capital expenditure to get the mine up and running is staggering. Mallina Gold project covers 1,728 sq km, whereas NLGP is centrally located on 800 sq km Dingo Range. Still seems a huge cost - is that what we'd looking at for NLGP or has Carl added an extra zero by mistake?

DEG is the only gold stock in this list which is not yet producing. It is at the pre-feasibility stage (PFS) at its Mallina Gold Project near Port Hedland in WA. The company has racked up an impressive 20 Moz of resources and 5 Moz of reserves and exploration activities are ongoing. It’s aiming for annual production of 540,000 oz p.a. in the first 10 years of the project’s life.

When? Well, PFS is mining speak for “only part-way down the track”. Next comes the definitive feasibility study (DFS), and then the final investment decision (FID). There’s a bit of other stuff in between and after as well, including securing the $1 billion of capital expenditure required to get the mine up and running.

My guess is: no mine within the next two years.