Mr Mullally is I think Canadian .He is however a member of the...

Mr Mullally is I think Canadian .He is however a member of the Australian society of mining engineers .A year ago he was appointed to head up a major project related to Uranium mining in Canada .He is on the board of Nexgen .So he is a busy bee .It is not clear to me how much operational”boots on the ground”authority he has reading the announcement.
The big issues with the mine is as following
1) no news in probably about 6 months about the permitting .Normally mining companies provide updates on this important facet of building a mine since really nothing much can happen in terms of financing ,construction etc until you have a permit to proceed .
2)there has been no news release about cost increases for building the plant .Clearly costs are rising rapidly and the plant in the end will probably cost in the region of 50-60% more than the original estimates.
3)due to lack of permitting news the timelines are slipping for when the mine will actually be complete.All the time the cash that DEG has raised to keep the exploration going and pay its staff is being depleted.
Their is currently a major divergence between the Price of gold (which is increasing) and the value of mining stocks(which is barely moving).This of course applies to DEG and many other mining companies .the reason for this divergence is that it is much more expensive (due to inflation)to actually produce the gold so profits are not increasing much.
Most major mining companies are tending to build mines which have gold and base metals (mainly copper)to hedge thier bets.
Its pretty slim pickings these days for the DEG booster club .No exploration news.No lithium news.no takeover, no news on permitting .No news on financing ,no news about the next capital raise.