Australia

De Grey Mining raises $4.75 million from largest shareholder DGO Gold

De Grey Mining Limited (ASX:DEG) has received $4.75 million from largest shareholder DGO Gold Ltd (ASX:DGO) who has exercised two option series.

This includes 10 million options exercisable at 10 cents per share with an expiry date of 30 May 2021 and 12.5 million options exercisable at 30 cents per share with an expiry date of 13 December 2021.

De Grey executive chairman Simon Lill said: “We are pleased to note the ongoing support of our major shareholder, DGO Gold.

“The early exercise of these options together with the early exercise premium on the 30 cent per share options, is a clear validation from DGO of their belief in De Greys Mallina Gold Project and, more specifically, the recent Hemi discovery, where drilling is continuing and we are seeking to further grow its size and scale.”

Hemi prospect

Funds received will continue to be used on further activities at the companys new Hemi prospect and general working capital.

The Hemi prospect is a new discovery undRead More – Source