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De Grey Mining directors show confidence in the company through share purchases

De Grey executive chairman Simon Lill has acquired 5.45 million fully paid shares at a cost of $272,786.

De Grey Mining Ltd - De Grey Mining board of directors show confidence in the company through the purchase of shares
The company raised $22 million from a placement and rights issue

De Grey Mining Ltd (ASX:DEG) directors have purchased fully paid ordinary shares in the company through the exercise of entitlement rights.

Change of director’s interests

De Grey executive chairman Simon Lill has acquired 5.45 million fully paid shares at a cost of $272,786 increasing the number of securities held after the change to 12.43 million in indirect interests.

Executive technical director Andy Beckwith acquired 300,000 fully paid shares and non-executive director Peter Hood has acquired 2 million shares.

Major shareholder quadruples holding size

Earlier this month the company’s major shareholder DGO Gold Ltd (ASX:DGO) increased its holding to 100.8 million shares from 25 million shares.

The shareholding is a result of the recent $19.1 million rights issue and means DGO Gold will hold 11.6% of the company.

The rights issue followed a recent $3 million placement taking the total capital to more than $22 million to complete the acquisition of Indee Gold.

Quick facts: De Grey Mining Ltd

Price: 0.06 AUD

ASX:DEG
Market: ASX
Market Cap: $56.31 m
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De Grey Mining 'adding to resource base in next 6 months' in the Pilbara

De Grey Mining (ASX: DEG) chairman Simon Lill speaks to Proactive Investors about exploration and development works, and the company's growing gold reserves and resources, in the Pilbara region of Western Australia. Lill also updates on the acquisition of of Indee Gold Pty Ltd.

on 28/2/19

2 min read