DEG 6.76% 6.9¢ de grey mining limited

Again from @Black Cat( The situation is quite clear -Novo would...

  1. 2,394 Posts.
    lightbulb Created with Sketch. 1191
    Again from @Black Cat

    ( The situation is quite clear -Novo would have sufficient information from past work to lodge a Mining Lease application but they wont do that because they -not the DMIRS - know they don't have sufficient continuity of gold mineralisation to warrant lodgement. I repeat they would have enough information to lodge a Mining Lease application. The problem wont be DMIRS -it is Novo's reluctance because of the lack of a commercial case to mine either Purdy's or Comet Well. )

    Novo currently does not have sufficient evidence for a JORC compliant resource that they continuity.
    That is exactly why this is taking so long and why it has been so costly.
    The recent ann by Novo along with recent videos is compelling enough to show how close they are to proving it.
    The recent acquisition of Egina and those mining licenses allow them to not only bulk sample but to mine it themselves on site.
    It will also allow them to start making a profit instead of sending bulk sample to labs.

    Below are two pics.
    4.3 outlines Exploration. Note the word, Extract, not mine.
    This extraction process does not give them enough leniency to prove a resource.

    https://hotcopper.com.au/data/attachments/1529/1529454-a11cd8294a50dac4be733fac675f8801.jpg

    Now here is the definition of Mining license by the DMIRS WA.
    This wording is endorsing exactly what Novo intend to do at Egina.

    https://hotcopper.com.au/data/attachments/1529/1529456-a8a46c5ef56bfc2abe58cad7189a75ef.jpg
    The biggest hurdle for Novo has been JORC or 43-101 compliance to enable progression and allow mining.
    They need to convince sh's that the gold is continuous, they are closer.
    You are correct when you say that Novo do not have sufficient evidence of commercial or economic mining but only to comply with JORC or 43-101.
    What you continue to do is try to make out that you have been advising everyone to adopt your ideas when in fact your ideas are not suitable to others like Novo. This month, Novo will begin much more serious exploration and trials that may shut the nay sayers up finally.
    Let's see how commercial this becomes from here on and knowing that Novo have not listened to Black Cat.
    It couldn't come sooner imo.

    kind regards, Wack.
 
watchlist Created with Sketch. Add DEG (ASX) to my watchlist
(20min delay)
Last
6.9¢
Change
-0.005(6.76%)
Mkt cap ! $29.50M
Open High Low Value Volume
7.4¢ 7.4¢ 6.9¢ $294.3K 4.128M

Buyers (Bids)

No. Vol. Price($)
5 456623 6.9¢
 

Sellers (Offers)

Price($) Vol. No.
7.0¢ 141522 1
View Market Depth
Last update - 16.10pm 19/07/2019 (20 minute delay) ?
(live)
Last
6.9¢
  Change
-0.005 ( 6.88 %)
Open High Low Volume
7.4¢ 7.4¢ 6.9¢ 2335093
Last updated 15.57pm 19/07/2019 (live) ?
DEG (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.