Further catalysts for De Grey with drilling program to be completed by December
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Only a fortnight after significantly increasing the resource for its Turner River Volcanogenic Massive Sulphide deposits, De Grey Mining (ASX:DEG) has commenced its infill and extensional RC drilling program at the Turner River Mt Berghaus prospect.
As highlighted below, Mt Berghaus hosts one of three JORC 2012 gold resources at the Turner River project.
The 5000 metre drill program is focused on the existing resource and immediate extensions to the resource, as well as the identification of newly defined targets along strike.
This is an important development for the company with the prospect of near-term share price momentum given the drilling program should be finished in December with assay results available thereafter. This will provide the foundation for an update of the Mt Berghaus gold resource block model.
Commenting on upcoming events, management said, “Following the recently announced upgrade of the Wingina Well resource, the Mt Berghaus drilling continues the company’s strategy of achieving a 500,000 ounce plus combined resource at its Turner River project in the next six months.
Broker sees 400% upside in DEG
Analyst Pieter Bruinstroop from Beer and Company Equity Research initiated coverage of DEG on November 9 with a speculative buy recommendation and a valuation of 1 cent per share, representing upside of 400% to Monday morning’s opening price of $0.002.
The broker highlighted that DEG had a mineral resource estimate of 288,000 ounces from 5.5 million tonnes at an average grade of 1.6 grams per tonne. He also underlined the fact that within that resource was a high grade lode of more than 1 million tonnes grading 4.1 grams per tonne.
Potential investors should note that broker projections may or may not be met and asset valuations are not an indication of how a company’s shares will trade. DEG is an early stage exploration company and investors considering this stock should seek independent financial advice.
Supporting his positive stance on DEG, Bruinstroop said, “DEG has defined nearly 10 million tonnes of resources and has significant further mineralisation, and we hold the view that it will be able to increase the total resource significantly over the next six months with a feasibility study about end of 2017 and first gold end 12 month later”.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.