Ann: Recoveries & Resources Potential support 2Mtpa Study Scale, page-36

Wack, you are one of the most respected posters here.  I value your opinion and want your take on the following:   I believe that a takeout by Kirkland Lake is almost a foregone conclusion.  I don't believe that De Grey can raise funds from a bank because it doesn't have a reserve number (proven and probable ounces).  De Grey's numbers are indicated and inferred.  No bank will make a loan based on that.  DGO has $3 million in cash and nothing else.  DGO can not generate the $16 million that you project De Grey needs in the next 2 to 3 months.  Raising funds via selling more shares is scary with the share price this low.  It would take a 160 million share CR to cover $16 million needed funding IMO.  That doesn't make sense to me.  Management appears to be relying on the upcoming PFS to  move the share price higher.  At that point, the only rationale way out is a JV or buyout by Kirkland Lake.  An outside chance that a major like Newmont might be interested but De Grey seems too small for Newmont to care much.  A Kirkland Lake buyout would be in the 15 to 20 cent range - all cash, all Kirkland Lake shares, or a combination of both.  I like the idea of getting Kirkland Lake shares as they look to continue growing for several years and might take control of Novo if the conglomerate story works out which I believe it will.  De Grey management is acting like everything is under control and they have it figured out.  That what you would expect them to do.  Only problem is they haven't disclosed why they're so confident.  I'm holding in the anticipation of a buyout as to sell at this point is stupid.