Gold Road Resources Limited (ASX: GOR)
Advised that it has committed to subscribe in the two tranche institutional placement by De Grey Mining Limited (ASX:DEG) (De Grey) at $1.05 per share, as announced by De Grey on 28 September 2023.
Thus maintains Gold Road’s percentage shareholding in De Grey Mining.
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Gold Road Resources Gruyere Gold Mine at night.
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| Gold Road | ASX : GOR |
| Stage | Production (50% JV) |
| Metals | Gold |
| Market cap | A$1.74 Billion @ A$1.50 |
| Location | Laverton, Western Australia |
GOLD ROAD RETURNS TO 19.9% SHAREHOLDING IN DE GREY MINING
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Gold Road Resources Limited (ASX: GOR) (Gold Road) advises that it has committed to subscribe in the two tranche institutional placement by De Grey Mining Limited (ASX:DEG) (De Grey) at $1.05 per share, as announced by De Grey on 28 September 2023,
subscribing for:
49,438,097 New Shares under Tranche 1 of the Placement; and
such number of New Shares representing 19.9% of the New Shares offered pursuant to Tranche 2 of the Placement.
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This investment returns Gold Road’s relevant interest in the issued capital of De Grey to 19.9% (initially disclosed on 19 August 2022).
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This release has been authorised by Managing Director and CEO, Duncan Gibbs.
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
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Disclosure
At the time of writing the author holds shares in Gold Road.
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