DEG getting a reccie. (Really for the newbies who may have noticed Au's up move. (No, dear newbies, it's not too late, but I dare you... find one with better prospects!)):De Grey Mining Limited (ASX: DEG)
DEG is at the construction end of the spectrum, but is a similarly high quality and undervalued company in our view.
DEG is Australian based, and in fact not just Australian based, but Pilbara based. Few if any mining districts in Australia boast better credentials than the Pilbara region in terms of access to skills, infrastructure, logistics and efficiency, and certainty of approvals.
And DEG has scale – global scale. In the recently released Definitive Feasibility Study (DFS), DEG highlighted that the Hemi mine would average 530koz per annum. This would elevate the project into the realm of the top 3 producers in Australia. At 530koz per annum, it is also the 3rd largest undeveloped gold project globally. And importantly the only one in the top 3 that is based in Australia.
Impressively this production is based purely on reserves. There is substantial upside to come from drilling out the resource categories for both Hemi and nearby prospects, which currently stand at nearly 13m ounces. There is also exploration upside from a large number of drill ready targets.
The all-in sustaining cost (AISC) of <A$1,300 per ounce is amongst the lowest of any new development. For cashed up global producers, this stock must surely be the standout on all metrics. In fact, we are struggling to see a universe in which this company is not taken over. There is simply only a handful of assets of this scale and quality anywhere on the planet.
https://www.livewiremarkets.com/wires/katana-s-top-2-gold-stocks?utm_medium=email&utm_campaign=Trending%20on%20Livewire%20-%20Thursday%207%20March%202024&utm_content=Trending%20on%20Livewire%20-%20Thursday%207%20March%202024+CID_19df3bf18689c888d1a65053cb1171d8&utm_source=campaign%20monitor&utm_term=2%20GOLDEN%20IDEAS
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DEG getting a reccie. (Really for the newbies who may have...
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Last
$1.24 |
Change
-0.010(0.80%) |
Mkt cap ! $2.286B | |||
| Open | High | Low | Value | Volume |
| $1.25 | $1.26 | $1.24 | $3.334M | 2.676M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 108705 | $1.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.24 | 20490 | 2 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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Last
$1.24 |
Change
-0.010 ( 0.44 %) |
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| Open | High | Low | Volume | ||
| $1.25 | $1.26 | $1.24 | 820175 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| DEG (ASX) Chart |