De Grey Mining Ltd (AU:DEG) has released an update.
De Grey Mining Ltd is set to bolster its finances with a significant A$600 million capital raising effort, comprising a A$344 million institutional placement and a A$256 million accelerated entitlement offer priced at A$1.10 per share. This sizable financial initiative is specifically designed to fund the Hemi Gold Project, covering expenses from early works to initial construction and exploration activities. However, not all shareholders will be able to participate in the entitlement offer, as it is limited to eligible retail shareholders predominantly based in Australia and New Zealand.
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