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De Grey Mining in trading halt with capital raising news pending

The halt will remain in place until Friday, November 29, or when an announcement is made, whichever occurs earliest.

De Grey Mining Ltd - De Grey Mining in trading halt with capital raising news pending
A new resource estimate is being undertaken at Toweranna

De Grey Mining Ltd (ASX:DEG) is in a trading halt with a capital raising announcement imminent.

The trading halt will be in place until the beginning of normal ASX trade on Friday, November 29, 2019, or when an announcement is made to market, whichever occurs earliest.

Shares in the company, which has a market cap of approximately $46.9 million, last traded at 5 cents.

Further high-grade gold assays

The company yesterday confirmed further significant gold drilling results from its resource extension diamond drilling program at Toweranna, targeting new mineralisation below the current open-pit resource.

De Grey already has a resource of 5.33 million tonnes at 2.1 g/t gold for 356,600 ounces at Toweranna within its flagship Pilbara Gold Project in WA.

Significant new intersections included 6 metres at 9 g/t gold from 300 metres in TRCD150D, including 2.18 metres at 22 g/t from 300.73 metres.  

Quick facts: De Grey Mining Limited

Price: 1.34 AUD

ASX:DEG
Market: ASX
Market Cap: $1.71 billion
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