De Grey completes major bookbuild
PERTH (miningweekly.com) – ASX-listed De Grey Mining has completed the bookbuild for its A$300-million fully underwritten share placement.
The company last week announced the two-tranche placement to fund major work at its Hemi gold project, in Western Australia, as well as providing exploration capital and funds for general working purposes.
De Grey on Monday announced that it had received firm commitments for the placement of 285.7-million shares, at a price of A$1.05 each, with the placement price representing a 5.8% discount to the company’s last closing price, and a 12% discount to its five-day volume weighted average share price.
The first tranche of the share placement will consist of 234.2-million shares, raising A$246-million under De Grey’s existing placement capacity, while the second tranche of 51.44-million shares, to raise a further A$54-million, will be subject to shareholder approval at a meeting scheduled for November 9.
Major shareholder Gold Road has committed to subscribing for 59.67-million of the new share to increase its shareholding in De Grey to 19.99%. Some 49.43-million of Gold Road’s shares will be taken up under the first tranche of the share placement, with more than 10.2-million being subject to shareholder approval.
De Grey on Monday said that in addition to the placement, four of the company’s directors have also subscribed for new shares at a placement price of A$1.05 a share, raising an additional A$0.6-million in funds.
Shareholder approval for the director placement will also be sought on November 9.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
