Having attended a site visit hosted by De Grey this week,...

Having attended a site visit hosted by De Grey this week, Argonaut analyst John Macdonald further said in an analyst note the timing of the completion of a scoping study that will kick off post resource estimate, is still to be decided.

De Grey is also keeping "cards close to chest" around its understanding of the geology.
Meanwhile, the rig count will go to 12 this month, and additional geologists beyond the 22 already on site are reportedly being sought.

Macdonald was impressed by what he saw.

"(Hemi is a) well organised exploration operation," he said.
"Issue is whether discovered Hemi is the best of Mallina, or just a part of a big system."
"Company thinks there is much more to be found (and its) difficult to argue given rapid success to date and nature of geology."

MNN was told by another Perth-based analyst on the site tour that about 15 capital market types attended, mainly analysts and brokers and a couple of funds.