Australian (ASX) Stock Market Forum

DEG - De Grey Mining

DEG soaring on high volume today. Up an impressive 50% from yesterday's close, currently at 22.5c and looking very strong.

De Grey accepts strategic investor Kirkland Lake to its Register

De Grey Mining Limited (“De Grey”) is pleased to announce that Kirkland Lake Gold Ltd. (“Kirkland Lake”) has agreed to subscribe for up to 33,333,333 shares in De Grey at a price of $0.15 per share to raise $5M. Each share will have a free attaching option, with the options exercisable at $0.20 per share at any time before 30 November 2019.

Kirkland Lake is a Canadian listed mid-tier gold producer with a market capitalization of US$2.7Bn and forecast production for 2017 of 570,000 – 590,000 oz’s of gold. They have interests in Australia through the high grade, low cost Fosterville mine in Victoria and have recently invested $58M in De Grey’s Pilbara counterpart, Novo Resources Corp.

The share placement is subject to shareholder approval which the Company will seek at its Annual General Meeting (“AGM”) to be held before the end of November 2017 and Kirkland Lake staying below 19.9% on a partially diluted basis post De Grey’s AGM. An anti-dilution clause exists that allows Kirkland Lake to retain their equity position through future capital raisings. The anti-dilution clause is subject to ASX waiver of Listing Rule 6.18.

The funds will be used for ongoing exploration and development activities at the Pilbara Gold Project.
 
De Grey has enjoyed a brilliant run, but will it continue?
The last week leaves some serious doubt.

DEG am 17-11-17.png
 
ASX: DEG

DEG TMF 250518.png


335MM scrip at auction

Top 20 Shareholders as at 27/09/2017 DEG

Shareholder
Effective Date Capital (%) Shares Notes
Total Held by Top 20 Shareholders 29.74 79,214,288

deg data.png
 
assume that is a positive post above......
DGO is throwing some cash at DEG (and then DGO is asking DGO shareholders to pay for it.....but DGO holders could almost fit in my bathroom at the same time so they must think some future value here).
Lots to get ones head around here (and lots of guessing by me tbh) but buckled in anyway.
 
assume that is a positive post above......
DGO is throwing some cash at DEG (and then DGO is asking DGO shareholders to pay for it.....but DGO holders could almost fit in my bathroom at the same time so they must think some future value here).
Lots to get ones head around here (and lots of guessing by me tbh) but buckled in anyway.

even tho the issue for DGO raises the total scrip at auction, relatively, well held size and the spread will lift itself to the cap raise of .200 (which may seem unusual compared to vwap issues but the DGO get the benefit of further holdings at .250's so both groups assuming the stock is in a low-ball zone)
 
assume that is a positive post above......
DGO is throwing some cash at DEG (and then DGO is asking DGO shareholders to pay for it.....but DGO holders could almost fit in my bathroom at the same time so they must think some future value here).
Lots to get ones head around here (and lots of guessing by me tbh) but buckled in anyway.
as the stock is in take-off mode, this should gap it

https://www.asx.com.au/asxpdf/20180528/pdf/43vbjk4lb4cfxn.pdf
 
ASX: DEG

View attachment 87511

335MM scrip at auction

Top 20 Shareholders as at 27/09/2017 DEG

Shareholder
Effective Date Capital (%) Shares Notes
Total Held by Top 20 Shareholders 29.74 79,214,288

View attachment 87512

that post didnt age well, albeit a clear signal to exit when the leap (where i cited a break-out level) gapped up then fell over, the exit signal was the fail level itself, with smart money exiting on the "is that all?" my guess is, as with many goldies, the then underlying weakness on speculators was in full bloom as seen in the COT*, conversely we now see commercials in their typical 'we make trend' mode of buying easy supply (whatever currency you wanna argue, the world mostly deals in USD's)

DEG appears to be in the not interested bin and veering into cheap relative to insitu resource, with work to come in the Pilbara, as this is a forward looking at what 2019 might bring there's no technical horse to hitch and money flowing the wrong way (21day/13week TMF) it's hard to get excited for DEG's upside and arguably there's a gap to close below and a year's a long time for a decent swing on bargain goldies to go from fuggit to huggit

so i guess over the next 12 months the company is dependent on how it is perceived given that there are no more promises it can offer the market place other than bigger resource to qualify the plant-build $'s required which require a strengthening (uptrending) gold price, again, pick your currency to argue the case, it's reliant on larger sentiment to drive bids in the auction rather than a single mechanism

* http://www.timingcharts.com/
 
soz joules for not talking ... jumped off back in early august .....have not even looked since but may in the new year. appreciate ur efforts but cannot add to it atm. maybe later. have a good new year.
 

Attachments

  • deg sell.jpg
    deg sell.jpg
    63.4 KB · Views: 8
17/10/2016 A$1.26M was raised in an oversubscribed share placement to sophisticated investors of Beer & Co Pty Ltd and DJ Carmichael Pty Limited with a capital raising price of $0.0029 per share with a 1 for 3 attaching option. Existing shareholders will be offered an opportunity to participate in a Share Purchase Plan to raise up to an additional $1.25M under same terms as placement. Funds will be used to continue work at the Company's De Grey Turner River Project. An unmarketable share sale facility will be initiated alongside the proposed SPP. A capital consolidation on a 1 for 20 basis to be voted on by shareholders at the Company's forthcoming AGM.

deg7.1.19.png





WEALTH WARNING: This stock has been subject to a Consolidation in the past and may at some time in the future cause you to lose all your invested capital. Better value elsewhere.



 
appears to be a lot of (cough) red ink about for some holders, so, you have to ask, who's buying all that selling?
let's look thru the square window that is Twiggs Money Flow vista....

DEG observation 270119.png


beware that this is also a hallmark of 'smash the sentiment and sell into strength' to late comers once the spike hits .....this should not be confused with ideas about long-term value

then again...it might run like the wind, do-do-do...do-duh-duh-duh...dah-dah-dah, gotta-run like the wind...
...
 
then again...it might run like the wind, do-do-do...do-duh-duh-duh...dah-dah-dah, gotta-run like the wind...
...

Lol … Joules you are obviously a lot younger than I am ….. But I suspect since you listen to both the Police and Cristopher Cross …. you may morph into a late 50's child in your older age!!:D

Don't be distressed …. it's not that bad … lol:D ….

That's "all I want to say to you";)
 
time for a 240volt kick up the hooter....chance for recent bids to exit on a ping!
https://www.asx.com.au/asxpdf/20190226/pdf/442zz2p4rnfpll.pdf

White Quartz Hill
11m @ 0.29g/t Aufrom 0m in WQRC002, incl 1m @ 0.93g/t Au
5m @ 0.53g/t Auform 0m in WQRC003, incl 1m @ 1.04g/t Au
10m @ 0.23g/t Aufrom 0m in WQRC004, incl 1m @ 0.74g/t Au
Clarke Prospect
3m @ 0.44g/t Aufrom 32m in CLRC001, incl 1m @ 0.83g/t Au
13m @ 0.27g/t Aufrom 22m in CLRC003, incl 1m @ 1.72g/t Au
1m @ 1.13g/t Aufrom 39m in CLRC 003
2m @ 0.61g/t Aufrom 38m in CLRC006, incl 1m @ 1.04g/t Au
Gillies Prospect
11m @ 0.28g/t Au from 1m in GLAC012 incl
1m @ 0.89g/t Au1m @ 1.19g/t Aufrom 16m in GLAC013
 
unfortunately not..what a nice couple of days. Hopefully someone here is holding and out enjoying a beer or two now.
 
anyone following DEG?

up 100% yesterday and a further 40% today. Gold intercepts.

More good news for DEG today. RC drilling has confirmed a large scale gold system at the Hemi Prospect.

screenshot-stocknessmonster.com-2020.03.05-11_34_39.png


Some very wide intercepts there. Looks like there's a lot of gold under the ground.

From today's announcement:
Exploration Manager Phil Tornatora, commented:

"Early drilling at Hemi has produced some of the best discovery intersections that I have seen. Drilling to date, shows exceptionally wide, continuous and good grade gold mineralisation.

Geological indications suggest that Hemi may be more of an intrusion related style of gold system rather than the more typical orogenic shear hosted style deposits of the Pilbara and other WA goldfields.

We have three rigs on site advancing this exciting new discovery."

DEG currently up 40.5% to 26c and looking very bullish with volume of more than 24,000,000 shares traded.
 
Top