DEG Main reasons for holding, page-9

I keep DEG in my portfolio as an investment. The post tax IRR of 41% from the PFS with production of 550Koz pa is pretty good but we are looking for the DFS soon. Increased development costs elsewhere suggest that the IRR will probably drop but increased accuracy from a DFS gives greater confidence. I also hold from the possibility of a T/O bid. At the very least a well funded partner to get us into production without needing to sacrifice too much value raising finance.
However, the stock has lost momentum and become a trading stock. I trade on occasion while retaining most of my holding, which is currently 8% of my portfolio but has been up to 12% or so. My last buy was at 97.5c and last sell at 155c. Would have sold again at 175c but it did not quite get there.