Hi Gmeister,Certainly in the DEG latest Qtr Report E45/2983 is...

Hi Gmeister,
Certainly in the DEG latest Qtr Report E45/2983 is still with DEG, so I'd assume that is the case. Its hard to follow though as they have had to divest some of their leases over the last few years as part of WA govt regulations designed to stop folks squatting on leases forever without actually investing in exploration in them. There was actually something from Simon in the intro to the annual report around that and that they didn't like it!

We know for example that they had to give up Loudens Patch where they found the conglomerate nugget gold that NOVO was chasing elsewhere at the time and now the new owners (ANAX) have discovered a good outcrop of pegmatite there . Maybe its the same for E45/2983 and DEG haven't updated their lease schedule on their QRT report formatting? It would seem nuts though to give up that lease given its proximity to King Col? I know DEG have been avoiding becoming distracted by the lithium action at present, but now it seems crazy to be just ignoring it. Wildcat hit $1 SP today, up 40x the SP only a few months ago before buying into the Tabba Tabba tantalum mine lease. Over a billion dollar increase in company value over a few months. If DEG could also match that then it would make us a lot less of a takeover target and shareholders could retain the value of all of the as yet properly values assets on the extensive DEG holdings.

After the last placement DEG should be cashed up enough to give the lithium a nudge to the same degree as WC8 at least, as well as put some decent deep DD holes into the VMS nearby given that really does need to be worked up enough to better assess its economic value as well. DEG no doubt don't want to be a polymetallic producer with all the associated complexities and costs that go with it (poor Chalice suffered from the markets lack of understanding in that space when it released its scoping study), but they should at this stage be looking to ensure the value of all their key assets as appropriately valued in any takeover offer and not just the Hemi gold atm. While most of the market is singularly focused on gold and HEMI, the longer-term value of the wider land-holding and results from historical exploration are enough to show that with appropriate exploration and time the value of Hemi could probably be tripled in VMS and lithium holdings alone, much less in the additional gold outside Hemi central.

DEG are now sitting in dangerous takeover territory after completing the DFS with all their cards on the table, and other than the recent dilutionary placement they don't seem to have a strategy to raise awareness of all the remaining potential of their landholdings. I just hope Andy and team are out there doing just that right now so we can see his unassuming grin again when telling us about the potential of the next discovery.