De Grey (ASX: DEG) is a Western Australia-based mining company engaged in exploration and development activities for gold as well as base metals.

The company’s primary focus is the 100% owned Mallina Gold Project “MGP” (formerly referred to as the Pilbara Gold Project) covering an area greater than 1,200 square kilometres and located only 80 kilometres to the south of Port Hedland, within the Pilbara region.

The MGP is an exciting Australian gold growth project, in what is considered an emerging gold province. It currently contains a 1.7Moz Resource, with the next resource upgrade scheduled for the March 2020 quarter. De Grey has stated its objective to build the resource to 3Moz+.

In early 2020, the Company announced an exciting new gold discovery along the Antwerp-Scooby Trend, with exploration currently focused on the Hemi Prospect where drilling has intersected thick and high-grade gold mineralisation.

De Grey is aiming to transition into production as rapidly as possible, with new economic studies underway looking at a mine development feeding a 2Mtpa processing facility.

The De Grey share register includes ASX-listed DGO Gold Limited (~10%) and Northwest Nonferrous Mining Pty Ltd (5.7%). As at the end of February 2020 the Company had a total of 3,838 shareholders, with the Top 20 shareholders representing ~58% and the Top 50 holders ~68% of all shares held.

 

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