Seems a very astute strategic move. Get in the back door while DGO are starting to struggle after some lack of exploration success and are in need of making another placement to cover future costs with associated dilution. So avoids dilution while adding another 20% or so to present value, equating to an overall gain of 30% or so if you account for that placement need. I kind of thought tho, with the boards deep insight into the DEG exploration program to date, that they would hold out for a bit more given the future value of DEG if there is still a lot of undisclosed upside from all the unreported drilling to data in where HEMI and in the overall DEG land holdings. It may well mean that they don't see the DEG SP appreciating much more than 20% in the short-to medium term, even on the resource update expected mid-year. Maybe a fair call given we really haven't seen much increase in the past 12 months, despite the solid resource and overall performance?
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Seems a very astute strategic move. Get in the back door while...
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