Argonaut acted as Joint Lead Manager to successfully raise $31.2 million for De Grey Mining Limited (ASX: DEG) (“De Grey” or the “Company”) at an issue price of $0.28 per share by way of a placement (“Placement”). The Placement was underpinned by strong support from international and domestic institutional and sophisticated investors, which resulted in the capital raising being significantly oversubscribed.

Funds from the Placement will be applied towards extensive exploration and drilling programs at the Company’s Mallina Gold Project.

Argonaut is delighted to continue to provide support to De Grey and looks forward to De Grey’s ongoing success.

Additional information regarding De Grey can be found on the Company’s website at https://degreymining.com.au/