DEG 6.04% $1.40 de grey mining limited

Implications for DEG of NOVO buying MOY and its mill at Nullangine

  1. 1,145 Posts.
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    Kind of a shame NOVO managed to get hold of the MOY mill and mines at Nullangine tho. Nothing against NOVO, all power to them for having such good luck to have MOY fail (and my bad luck as a holder of MOY). But I was hoping a cashed up smart player would step in there, at these high gold prices, with enough $ to get the mill singing around the ore-processing flowsheet, especially the PINOX side of things to sort their refactory ore. That would give DEG holders (and potential future mill-finance folks) some more confidence around processing such ores in this region. It looks like NOVO aren't planning to touch those ores, at least for the first few years, while they focus on Beatons Creek and the Conglomerates. That's the downside, but the upside is they are rapidly moving into a mining phase on conglomerate ores, and will no doubt also transition that to use of ore sorters at an early stage to concentrate the nuggety material. That will have great benefits for DEG in the end. I know there's little focus on our conglomerate ore while we look at the exciting developments at Hemi, but we do seem to have a quite a bit of conglomerate exposure (Steele Well etc), so lessons learnt from the upcoming developments at Beatons Creek and NOVOs proposed ore-sorter trial at Comet Well/47 Patch etc (if they don't pinch the new sorter for operations at Beatons Creek) will be invaluable in working out what kind of asset we do have in conglomerate space.
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