G+T is pleased to announce it advised De Grey Mining Ltd (ASX:DEG) on its fully underwritten A$300 million two tranche Placement.
De Grey is a Western Australian gold explorer focused on the development of its flagship Hemi Gold Project in the Pilbara region - a top three global undeveloped gold project based on average annual gold production.
The outcomes of De Grey’s Definitive Feasibility Study (DFS) for Hemi outlined attractive financial outcomes and provide a strong platform for De Grey to transition from studies into development of a Tier 1 gold project.
On the back of the DFS outcomes being released, De Grey launched a fully underwritten two tranche Placement of new fully paid ordinary shares to raise A$300 million (before costs). The proceeds from the Placement will enable De Grey to advance major project lead items, continue exploration drilling access at Greater Hemi and regional areas and fund working capital.
Sarah Turner commented: “We are pleased to have advised on another successful capital raising launch for the De Grey team.”