Grondstoffen « Terug naar discussie overzicht

De Grey (ASX:DEG)

142 Posts, Pagina: « 1 2 3 4 5 6 7 8 » | Laatste
schatzoeker
0
indianrider
0

There are Fortunes to be Made in the Pilbara’s Latest Gold Rush
The remote Pilbara region in Western Australia is experiencing a boom in gold mining exploration and development, writes Colin Sandell-Hay
Colin Sandell-Hay by Colin Sandell-Hay
March 2, 2021
in Feature Story
There are Fortunes to be Made in the Pilbara’s Latest Gold Rush

One of the richest mineralized areas in the world, the vast Pilbara region of Western Australia has been host to a number of gold rushes since the precious metal was first discovered at Whim Creek in 1887.

Just over 130 years later, the newest – and possibly biggest – gold rush in the remote area’s history is now underway.

Fuelled by De Grey Mining’s (ASX: DEG) world class Hemi gold discovery, the Pilbara is now drawing in gold explorers from all over the globe looking to grab their piece of the golden action.

Location of Mallina Gold Project, existing 2.2Moz resource areas and new Hemi discovery Location of Mallina Gold Project, existing 2.2Moz resource areas and new Hemi discovery (De Grey Mining press release, 5 June 2020)

Remarkably, Hemi is around 50km from the original Whim Creek gold rush discovery, which is staggering considering the Pilbara region measures almost 508,000 sq. km.

When De Grey announced in December 2019 that it had made what is now considered one of the most exciting Australian gold discoveries in decades, it set in motion a tidal wave of actions.

For De Grey, it triggered a spectacular leap in its share price and thrust the junior mining firmly into the global spotlight.

At the time of the original find, the company’s share price was trading at around A$0.05 and went on to reach as high as A$1.55 in September 2020, before settling back to its current price of around A$0.89.

While many businesses suffered and went into a waiting mode during COVID-19 lockdown restrictions, De Grey was not sitting on its laurels, implementing an aggressive drill campaign aimed at assessing just what it had uncovered.

Thanks to De Grey’s progressive and methodical approach and the rich geology, Hemi just continues to grow.

With multiple rigs in action, the company is successfully uncovering new gold zones and extending the known gold mineralization outwards and downwards.

In recent weeks, De Grey has reported that Hemi continues to expand across multiple zones.

Overall, the Hemi system is now more than 3,500m north-south and 3,500m east-west, over 400m deep, and remains open along strike and at depth.

A newly discovered Falcon zone has added to the picture, with mineralization encountered in RC and diamond drilling over 1,000m of strike and to 300m below surface and remains open along strike and at depth.

The company is also currently undertaking a comprehensive and successful metallurgical test work programme across each of the mineralized zones at Hemi (Brolga, Aquila, Crow, and Falcon).

Meanwhile, for the Pilbara, the discovery has instigated the region’s next great gold rush and De Grey’s neighbours have suddenly found the door has opened for their own share prices to take off and to accelerate any exploration plans they had for their Pilbara properties.

The following is an overview of some of the Pilbara gold hunters, in alphabetical order, which are benefitting from their “nearology” to the Hemi discovery.

Castle Minerals (ASX: CDT) is fast-tracking its work on the Beasley Creek project, which is located to the south of Hemi. In the wake of the Hemi discovery, Castle has conducted a further review of the project’s bedrock geology and identified a selection of additional gold targets ranging from Hemi-style, sheared granite-greenstone contacts through to Northern Star’s Paulsen gold mine-style intrusive mafic mineralization.

CZR Resources (ASX: CZR): While CZR’s main focus is on its exciting Pilbara iron ore development, the company has wasted no time in taking a closer look at its Croydon Gold Project, which is located in the same Mallina Basin as Hemi. Croydon covers approximately 40km strike of the key regional structures of the major regional shear zone about 50km south-east of Hemi.
indianrider
0
@ schatzoeker enkel geduld en tijd vermits het hier maar gaat over omzet van aandelen 2 mil en enkele dalingen vrees ik niet en zit ik rustig achterover
indianrider
0
The dominant McLeod and Aquila lodes at De Grey’s (ASX:DEG) Hemi project could support a combined open pit mine, with high grade gold continuing at depth for a potential underground operation.

De Grey’s large Crow/Aquila gold system at Hemi continues to expand.

Drilling has now identified the main lode at Crow, called McLeod, over 600m length, 300m depth, and up to 60m true thickness.

It also remains ‘open’, which means De Grey hasn’t found where the gold ends.

Significant new thick, high-grade results at McLeod include:

-33m at 4.9g/t gold from 171m (incl 11m at 12.1g/t from 171m).

This new result is 80m away from the previously reported 19m at 42g/t gold from 170m.

Aquila Lode has been extended to 500m depth and also remains open.

Significant new extensional results include:

-52.2m @ 2g/t gold from 519.83m (incl 15.3m at 4.5g/t from 556.68m)

De Grey managing director Glenn Jardine says this large Crow/Aquila gold system continues to expand and be defined across multiple stacked subvertical lodes.

“The dominant lodes of McLeod and Aquila are oblique to each other, intersect at the eastern end and are expected to support a combined open pit scenario,” he says.

“Both lodes demonstrate high grade mineralisation that should also provide underground mining potential below any open pit mining limits.

The ongoing systematic infill RC drilling program at Crow has improved De Grey’s understanding of the continuity of mineralisation, Jardine says.

“Step out [extensional] drilling continues to extend mineralisation at all zones at Hemi,” he says.

“RC drilling also continues at the recently discovered Diucon and Eagle zones to the immediate west.”

Meanwhile, UK fund manager Jupiter Investment Management increased its stake in De Grey from 5.04 per cent to 6.04 per cent – a healthy tick of approval for the company.

Jupiter is a constituent member of the FTSE 250 Index which had assets under management of $105 billion by the end of 2020.
Dividend Collector
0
Is De Grey geen interessante overnamekandidaat voor de grote jongens die een bestemming voor hun cash zoeken?
indianrider
0
ik denk voor overname dit nog iets te vroeg is , zijn nog volop nieuwe gronden aan testen , er zit met de laatste resultaten weer positieve vibe in het aandeel maar zullen nog even geduld moeten oefenen op de big bang :-))
indianrider
0
Hemi itself is shaping up as a monster multimillion ounce deposit for De Grey, building on its existing 2.2Moz inventory at Mallina” - The West Australian

Excellent write up in the Saturday paper highlighting the significant potential at Hemi

twitter.com/degreymining/status/13992...

indianrider
0
weeral zeer mooie resultaten
cdn-api.markitdigital.com/apiman-gate...
Diucon– Mineralisation in the southern lode of Diucon has been extended to the west under sediments. Diucon is currently 900m in strike and remains open to the west and at depth. Significant new drilling results at Diucon include:?14m @ 2.6g/t Aufrom 258 metres and 12m @ 1.3g/t Aufrom 294 metres in extensional drill hole HERC851D?50m @ 3.0g/t Aufrom 155 metres in HERC490?53m @ 2.4 g.t Aufrom 43 metres in HERC900 ?11m @ 7.7 g/t Aufrom 142 metres in HERC491D?Eagle– Consistent mineralisation has been intersected within a broad mineralised zone over the current strike of 600m. Definition drilling at Eagle achieved excellent results including:?65m @ 1.2g/t Au from 42 metres in HERC807 ?16m @ 1.0g/t Aufrom 120 metres and 33m @ 1.0 g/t Aufrom 155 metres in HERC808 ?4m @ 11.8g/t Au from 176 metres in HERC811?4m @ 3.7g/t Au from 84 metres and 9m @ 2.3g/t Au from 141 metres in HERC809a
indianrider
0
De Grey's shares are now back at April's all-time high of A$1.60 a share thanks to the latest flow of Hemi exploration results, and the gold price returning to US$1900/oz or thereabouts.

The looming maiden resource estimate for the Pilbara discovery is also a factor, with some taking De Grey's recent recommitment to release the estimate mid-year as a sign of its confidence that the estimate - and the upside story De Grey sells - will make the switch from explorer to explorer/developer a rewarding one.

Still, the decision to push the button on the mid-year release of the maiden resource estimate - it will weigh in at somewhere between 4-7 million ounces depending on who's making the guess - will have been hotly debated in the boardroom.

That's because a maiden resource is a major step towards a development and all that entails. It is not without its dangers. Disappoint ever fickle market expectations and stocks can be severely punished, with the way back to a prime rating often a long road.

The alternative facing the board was to avoid that risk by continuing on with the exploration story at Hemi rather than having to frame a development timetable around the maiden resource.

After all, De Grey has been doing very nicely as an exploration story since the intrusion-related "aircore discovery at Hemi'' was first announced in December 2019.

What was a $40 million company has become a $2 billion company without a formal maiden resource estimate being made for Hemi (although there is an existing 2.2Moz shear-hosted resource elsewhere at the Mallina project).

Convincing the market that Hemi will long remain a growth-by-exploration story in the wake of the maiden resource estimate will be just as important as the resource estimate itself.

So, the release of the maiden numbers will be combined with a big push on selling the upside story to continue the value momentum achieved since the discovery was first made.

A key component of the story De Grey will push hard on was trotted out at the investor tour of Hemi the company hosted on Monday: a reference to the explorer remaining on track to achieve a resource discovery cost of less than A$20/oz at Hemi (some suggest it could be as low as $15/oz, if not lower).

De Grey is spending about $5 million each month on exploration. At a $20/oz finding cost, that delivers another 250,000/oz per month. Make it $15/oz, and it represents an additional 330,000/oz a month. Annualise the figures, and the addition is 3-4Moz respectively.

Is it realistic? The key Hemi orebodies remain open. And then there are the greater Hemi area targets, and the regional targets to chase along 150km of strike.

So, the suggestion is that whatever the mid-year maiden resource estimate is, it will be very much the start of a bigger story.

Assume a 6Moz maiden resource estimate, and Hemi and its surrounds could be knocking on the door of 10Moz in quick fashion.

It is a level that the gold mining heavyweights will find hard to ignore. That goes to the other concern around going too early with a maiden resource estimate: any potential bidders will use it as a benchmark for a bid, arguing they are paying for the known, not the unknown.

As the market values resource ounces at anywhere between $100-200/oz, the potential for another 3-4Moz being added to the resource base inside of 12 months represents a $300-800 million value add opportunity for De Grey's market cap.

Will a predator seek out that opportunity for itself by using the mid-year maiden resource estimate as its base case for a low-ball bid?

Time will tell on that score. What is more certain is that Ed Eshuys at DGO Gold is the kingmaker in any takeover scenarios.

DGO owns 15.8% of De Grey. Acquired at a cost of $43 million, the stake is now worth $326 million, which is more than DGO's market cap of $264 million.

Add in DGO's stakes in Dacian Gold and Yandal Resources, and its own exploration portfolio that's valued independently at $27 million, and the discount between DGO's market cap and the value of its investments and its exploration portfolio grows to $120 million.

Eshuys got tongues wagging last week when he highlighted the discount in an exploration webinar hosted by Arlington Group Asset Management.

"There is a discount, and if you think that we are spending a lot of time thinking about it, we are," he said.

"And we as a management team, and the board, are directing a lot of attention to this discount that applies to our shares today," Eshuys said.

That got some wondering if the comments meant DGO was thinking about auctioning off its De Grey stake to the highest bidder.

But that would be totally off beam, certainly in relation to any cash bids because of the capital gains tax implications for DGO.

More to the point is that DGO's core investment strategy (while its pursues its own exploration near Hemi and elsewhere) is based on the compelling proposition that gold resources found for $20/oz in the right brownfields locations get valued by the market at $100-$200/oz.

It is what led it to invest in De Grey in the first place five years ago.

And with De Grey's work in the Pilbara likely to continue to find $20/oz resources for the foreseeable future to create major value uplift in the company's market cap, why would it sell now?

Finds like Hemi don't come along very often. Eshuys knows that, so closing the discount in the DGO share price will involve more marketing of its "discounted'' stock, and exploration success at its own exploration properties in Western Australia and South Australia, rather than any action with the De Grey stake.

Eshuys said as much on the Arlington webinar: "Our (exploration) land is wide open for discovery to dramatically change the value of the company.''
Dividend Collector
0
Mooie newsflow in dit aandeel. Ik zie ook wat insider buying de afgelopen maanden. Zo heeft Invesco in mei nog aardig ingekocht. Nog relatief weinig verkopen, wat een gunstig signaal is. Zelf ben ik vorig jaar uitgestapt op dit prijsniveau en heb mijn winst in nieuwe zoekers gestoken.
142 Posts, Pagina: « 1 2 3 4 5 6 7 8 » | Laatste
Aantal posts per pagina:  20 50 100 | Omhoog ↑

Meedoen aan de discussie?

Word nu gratis lid of log in met uw e-mailadres en wachtwoord.

Direct naar Forum

Markt vandaag

 AEX
877,96  +7,69  +0,88%  12:19
 Germany40^ 18.045,60 +0,72%
 BEL 20 3.861,30 +0,09%
 Europe50^ 4.971,94 +0,67%
 US30^ 38.128,66 +0,01%
 Nasd100^ 17.600,65 +0,99%
 US500^ 5.082,30 +0,74%
 Japan225^ 37.903,05 +0,47%
 Gold spot 2.348,98 +0,73%
 EUR/USD 1,0737 +0,07%
 WTI 83,87 +0,14%
#/^ Index indications calculated real time, zie disclaimer

Stijgers

ASMI +6,71%
EBUSCO HOLDING +4,94%
Corbion +4,56%
Alfen N.V. +3,91%
NX FILTRATION +3,38%

Dalers

Wereldhave -7,33%
IMCD -7,25%
SIGNIFY NV -6,74%
ABN AMRO BANK... -4,13%
BESI -4,01%

EU stocks, real time, by Cboe Europe Ltd.; Other, Euronext & US stocks by NYSE & Cboe BZX Exchange, 15 min. delayed
#/^ Index indications calculated real time, zie disclaimer, streaming powered by: Infront