Apart from the 20% claim on any cash flows generated from Novo's trawling of the gravels across Indee, doesn't De Grey have an earn-in to 75% of another big tenement in Farno-McMahon (E47/2502, I think?) Presumably that would be prospective for the same kind of mining, adding a lot more gravels to trawl.
It's all massively speculative with no real indication that this kind of mining would be allowed or what would then be demanded in reclamation work afterwards. But if it's real and the mining costs are as low as the Novo bulls believe, the margins will be spectacular.
To survive De Grey needs to get the structural gold exploration right. But if the lag gravel story is even half-way accurate on Novo land, surely people will speculate that the De Grey land is going to have something similar. That would be rocket fuel for the share price. Might even cheer Gold Pirate up.
Charts, page-10
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