Hamilton Locke is pleased to have advised Canaccord Genuity (Australia) Limited, Argonaut Securities Pty Limited and Argonaut PCF Limited as the Joint Lead Managers, Joint Bookrunners and Joint Underwriters to De Grey Mining Limited’s (De Grey) (ASX: DEG) $600m equity raising.
De Grey is a West Australian mining company which aspires to be a Tier 1 gold producer through production from its Hemi Gold Project.
The equity raising comprised an institutional placement to raise approximately $344 million and a pro-rata accelerated non-renounceable entitlement offer to raise approximately $256 million. Proceeds from the equity raising, together with existing cash, are expected to fully fund the equity component of the Hemi Gold Project financing. The funds will be applied to, amongst other things, engineering and early works, initial project infrastructure and construction costs, and exploration and studies.
Canaccord Genuity (Australia) Limited acted as Global Coordinator, Joint Lead Manager, Joint Underwriter and Joint Bookrunner to the equity raising. Argonaut Securities Pty Limited acted as Joint Lead Manager and Joint Bookrunner, and Argonaut PCF Limited acted as Joint Underwriter.
The team at Hamilton Locke was led by Partner Shaun Hardcastle and included Senior Associate Daniel Owen and Lawyer Chris Simpson.
Read the full ASX announcement here.
