Just looked back over Wingina Well. The resource is actually...

Just looked back over Wingina Well. The resource is actually 220000 oz, and this is the recoverable resource via open pit mining rather than the total quantity. Thats over A$377 mill in total income at current prices, and even if only 50 mil ended up in the bank at the end of the day after expenses, that would be clear funds given the tax deductability from any operating profit of all DEG's exploration losses so far. I'm not at all sure why this is currently farmed out to Landsdown Resources given its potential, and that the current record of JV partners in that region has been abysmal with regard to floats and on-ground activities. It seems DEG is hell bent on exploration and not at all keen on taking the next step.

From their own most recent feasibility work they state

"The work revealed that at gold prices above about A$1,400/oz, Wingina may generate attractive cash flows in an operation producing 20,000-25,000 ounces of gold per annum over a mine life of 3-4 years."

So why now, when gold is over A$1700/oz are they stalling?