De Grey raises A$600 million to fully fund the equity component of the Hemi project financing, representing a material de-risking milestone for Hemi project development.

Argonaut acted as Joint Lead Manager, Joint Bookrunner and Joint Underwriter to the underwritten A$600 million equity raising for De Grey Mining Limited (ASX: DEG). The institutional bookbuild saw significant demand from leading global investor groups both domestically and offshore, with strong support from existing shareholders.

The Placement will provide the Company with significant balance sheet strength and flexibility to progress activities to support the Project execution schedule. Funds will be used to advance major project lead items, continue exploration drilling across the Greater Hemi and regional areas and fund working capital.

Argonaut has now been involved with raising De Grey A$1.3 billion. We started our involvement in March 2020 when the Hemi discovery was in its infancy. Argonaut is delighted to have supported De Grey as it builds a genuine Tier 1 gold mine. We look 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/