Are any of you guys kidding me? I told this entire board all you need to know a week ago. Yeah, DGRI sits on a ton of gold, but to get it they have to raise money. Now, they can raise money any way they want, but it likely will come in the form of dilution, whether it be restricted or not. In addition, for the type of mine this is, it needs a lot of money, not 1M or 5M, like 50-100M. This is a hard rock deep mine, and well worth a 100M investment to get 2.9M ounces of gold, but this SS is going to change a lot.
Furthermore, the PR from earlier this week said they would like go the JV route, so whoever they pair up with automatically takes the 100% stake in the mines they have down, maybe to 50% or even lower!
The bottom line is, this company is no where close to producing gold, it is still a few years away, and with a much different share structure.
With that said, I am a proponent that gold is going much higher, so if this company is mining gold in 2013 at 3000/oz that is huge. Right now though, and for at least a year, this is going to be dumped on as its all being set up. The key is to find a company that has been through all these hoops and is ready to produce revenue and profits with these record high gold prices.
Thats my story and I'm sticking with it. GL
Crushing Pinklyland Est. 2009
