DEG

4.76%

$1.21 de grey mining limited

What's next punters?, page-64

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29/07/21

14:35

Post #: 54872534
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Originally posted by Fish3: ↑

Well I noticed the other day that Bruce Parncutt (one of our directors), splashed over a rather cool sum of money to convert options in DGO into shares. Given a very large part of DGO's value is due to its holding in DEG I would suggest he may well have a lot more confidence in the future SP of DEG (and hence DGO) than the market does at present.

When I last topped up significantly in DEG it was when DGO were buying in big, which I figured was a pretty good sign given they have some rather smart geos on their board. That paid off rather nicely. Looking ahead it seems Scooby is probably pretty good based on the extent of drilling, but maybe a lack of announcements as why show a hand unless necessary with predators sniffing around?

The last announcement from Duicon was particularly interesting in that they mentioned (I think for the first time at Hemi) that there was evidence of increased quartz veining with associated higher grade gold. It could well be that their increased interest there is in chasing some good high grade material for a boost in initial production as well as quick resource build.

More widely, a recent publication by CSIRO on the watermelon seed gold in conglomerates has just been published showing this gold (which DEG has plenty of in places) is derived from erosion of likely intrusion-related ore bodies somewhere near the conglomerates or indeed near the alluvial gold areas derived from eroded conglomerates. Upshot is that all of that gold has a source and DEG is the primary lease holder along many the faults that control that gold origin, in the margins of all the older granite domes that this stuff intruded around, in proxinity to the deeper sheer zone deep cracks in the crust. Time will tell, but the Egina alluvial gold may be from the Gillies area they are currently exploring for example. Methinks DEG is bit by bit getting to the source of a lot of that anomalous surface nugget gold that brought folks to the Pilbara in the first place.

I just hope we don't get taken out early so this exciting step by step process keeps on coming rather than being buried in an annual report of a major.

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"as why show a hand"

Because they have to. Simple as that. They'd be idiots not to.

DEG Price at posting: $1.20 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $1.21		Change 0.055(4.76%)		Mkt cap ! $2.899B

Open	High	Low	Value	Volume
$1.19	$1.21	$1.19	$9.324M	7.770M

Buyers (Bids)

No.	Vol.	Price($)
3	33645	$1.21

Sellers (Offers)

Price($)	Vol.	No.
$1.21	12149	1

View Market Depth

No.	Vol.	Price($)
3	33645	1.205
8	173672	1.200
3	93636	1.195
2	99193	1.190
1	8000	1.185

Price($)	Vol.	No.
1.210	12149	1
1.215	92639	9
1.220	352304	16
1.225	148044	8
1.230	134917	11

Last trade - 16.10pm 12/07/2024 (20 minute delay)

DEG (ASX) Chart

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