https://www.miningweekly.com

DGO raises cash to fund De Grey deal

24th May 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed DGO Gold will raise between A$4.4-million and A$5.9-million through a one-for-two entitlement offer.

The offer will be priced at 75c a share, which represented a 3.5% discount to DGO’s closing price for the five days prior to May 23.

The company said on Thursday that its largest existing option holders have each separately committed to exercise all of their existing options, which will result in up to A$1.18-million raised.

In addition, three of the company’s largest shareholders have also committed to take up 1.33-million new shares, for A$1-million, while DGO’s chairperson, Eduard Eshuys, has agreed to take 533 333 shares for A$400 000.

The capital raised will be used primarily to fund a A$5-million investment in fellow-listed De Grey Mining, while also providing working capital and to fund exploration activities.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Willard
Willard

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 
SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.039 0.826s - 110pq - 2rq
Subscribe Now