turner river, page-8

re: any reason for the sharp downturn Maybe some of the drop of late could be that the some placementees have been immediately divesting their placement shares and keeping the 45c options (DEGOA).

"13 December 2004
ASX/Media Release
De Grey Places Shares to Institutions
De Grey Mining is pleased to announce that it has raised $3.15 million from a placement to institutional clients of Blackwood Capital of 7,500,000 new shares at an issue price of 42 cents per share with one attaching option to acquire further shares at price of 45 cents on or prior to 30 June 2006."

Although I suspect there is more to the extended DEG decline than this. I have been buying DEGO. Got some on close Friday at 20.5c.

LSG took up a 6% stake in DEG at 40c in Oct04 and that is good enough for me to be in:

"Robin Widdup stated: “We believe in the near future a new gold operation will emerge in this lightly explored region that is prospective, not only for gold, but also other minerals such as platinum and copper”."