Nothing in DGO share price for exploration programs now underway.


26 March 2021| Barry FitzGerald


DGO Gold:

Ed Eshuys’ DGO Gold (ASX:DGO) is in an interesting space at the moment thanks to its investments – including a 15.8% stake in boom gold explorer De Grey (DEG) – covering its $225 million market cap ($3.08 a share).

It means that the market is currently giving zero value to DGO’s substantial exploration interests, which is kind of odd remembering Eshuys has an enviable track record of making discoveries.

That has been said here before, but the difference this time is that the zero value being ascribed to DGO’s exploration interests comes at a time of high activity in the portfolio.

It has got to be thought the implied zero value for the exploration interests won’t last long should the drill bit at one of projects come up with something interesting.

DGO too has been drilling Zambian style sedimentary copper targets at its Pernatty project in SA. It is also active at its Bryah project, about 95km from Sandfire’s (SFR) DeGrussa copper/gold mine.

Then there is DGO’s own drilling programs to come on ground it holds in the Mallina Basin, home to De Grey’s spectacular Hemi Discovery, and its exposure to an interesting artificial intelligence-driven program at Mt Magnet.

The list goes on but the point is made – there is nothing in DGO’s current market cap for the programs.

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