Gilbert + Tobin has advised De Grey Mining in launching its fully underwritten $125 million placement to support exploration and pre-feasibility works relating to its Mallina Gold Project.
De Grey Mining is a Western Australian gold explorer and project development company with a focussed presence in the Pilbara region. In addition to the Mallina Gold Project, the funds will also be allocated to resource extension drilling at De Grey’s Hemi and regional deposits and further exploration drilling.
The proposed date for the shares to be issued is 27 October 2021.
Commenting on the transaction, Sarah Turner said “We are pleased to have advised De Grey Mining in launching its very successful equity raising. The strong response from institutional investors reflects the potential of De Grey Mining’s portfolio and market support for the Board and management team”.