Short sellers and DEG, page-31

Interesting news today out of the Pilbara.NVO within a time frame of 6 months bought a preexisting plant,refurbished and permitted it and are ready shortly to start production.Nw if DEG had done that ,one could perhaps be more optimistic about its prospects.It is the crux of the valuation of DEG,how much are reserves in the ground worth?? WM which is exploring in the detour lake corridor and doing 175,000 meters of drilling this year and perhaps has a resource of equivalent size to DEG perhaps bigger is valued at about 40% of DEG.
Reserves in the ground are obviously worth way more if there is a timeline for them to be converted into gold and cash .
If DEG is the best thing since sliced bread how come KL sold 35 million plus shares??