This includes 10 million options exercisable at 10 cents per share with an expiry date of 30 May 2021 and 12.5 million options exercisable at 30 cents per share with an expiry date of 13 December 2021.
De Grey executive chairman Simon Lill said: “We are pleased to note the ongoing support of our major shareholder, DGO Gold.
“The early exercise of these options together with the early exercise premium on the 30 cent per share options, is a clear validation from DGO of their belief in De Grey’s Mallina Gold Project and, more specifically, the recent Hemi discovery, where drilling is continuing and we are seeking to further grow its size and scale.”
Funds received will continue to be used on further activities at the company’s new Hemi prospect and general working capital.
The Hemi prospect is a new discovery under 30 metres of transported cover, with two zones of strong, broad sulphide rich mineralisation with high grade gold partially defined in the Aquila and Brolga Zones.
These gold zones represent a major new discovery for De Grey and potentially a new and exciting new style of mineralisation in the Pilbara region.
Hemi has substantial potential to increase De Grey’s current 1.7 million ounces of shallow gold resources.