DEG launches placement, page-77

I totally agree with you. I think that Argonaut are being conservative to avoid accusations of misleading their clients.

Additionally, I may have misread their analysis as well since I have gone back and re-read it. They have actually increased the possible contained gold to 3.9 million ounces at Hemi in their September 2 research notes. My bad.

So, let's revise the shares per ounce calculation. 5.9 million ounces divided by 1,287,000,000 shares equals 218.13 shares to the ounce of gold. Even at the price of the shares at the suspension of trade ($1.44) that means that you would today be buying an ounce of gold for a mere $314.11 and that is significant leverage if ever there was leverage. Anyone who bought shares before the discovery of Hemi will be very happy campers indeed with a gold ounce costing $43.60 if the shares were bought at 20 cents a share. The lucky few who bought in at 5 cents a share got their ounces for a mere $10.90 each.

Sun Tzu said: "To do nothing is also an action." The hardest part of managing my investment in DEG will be doing nothing.

Good luck to all.