Northern Star Resources will expand its gold portfolio into the Pilbara, after striking a $5 billion deal to acquire market darling De Grey Mining and its flagship Hemi project.
De Grey Mining's push to develop its Hemi gold project has continued, after receiving provision for a $150 million loan from the Northern Australia Infrastructure Facility.
Pilbara gold developer De Grey has refused to comment around speculation that it could be the target of rival interest, saying it is focused on developing its Hemi project.
Gold developer De Grey Mining says 2.2 million ounces of regional deposits additional to its core Hemi gold resource could be used to boost the project's eventual production profile.
ASX-listed De Grey Mining has received a series of credit approved term sheets from domestic and international banks, as it pushes towards developing its Hemi gold project in the Pilbara.
The West Perth company says the proceeds, in tandem with cash on hand, will fully fund the equity component of its $1.3 billion Hemi gold project in the Pilbara.
Finland-based Metso Corporation will provide several pieces of crushing and grinding equipment for De Grey Mining's flagship Hemi gold project in Western Australia's Pilbara region.
ASX-listed De Grey Mining has been given an option to acquire the Ashburton gold project, located in Western Australia's Pilbara region, from Kalamazoo Resources.
De Grey has launched a $300 million capital raising to start making a mine out of its Hemi deposit, while the inevitable sting of inflation lifts build costs to $1.3 billion.
Canadian gold explorer Novo Resources Corp will explore a dual listing on the ASX after its Mallina Basin neighbour De Grey Mining became its largest shareholder.
Gold Road Resources has taken up nearly $26 million worth of new shares via De Grey Mining's latest placement to cement its place as the junior's biggest shareholder.
De Grey Mining estimates it will cost $1 billion to transform its famed Mallina discovery into a 540,000 ounce per annum gold operation and one of the largest by output in Australia.
De Grey Mining has increased resource estimates for the Mallina gold project and its contained Hemi deposit to 10.6 million ounces, boosting its credentials as a major undeveloped gold deposit.
De Grey Mining is looking to institutional investors to fund the development of what it believes may become one of the largest producing gold mines in Australia.
De Grey Mining has released a positive scoping study for its Mallina gold mine in the Pilbara, which will cost nearly $900 million and be one of the largest in Australia.
Western Australia’s goldminers have continued to thrive in 2021, with the sector raising billions of dollars in the past 12 months. Although retreating from an all-time high in August
De Grey Mining managing director Glenn Jardine says the explorer's heady market valuation is a fair reflection of the potential scale of its Hemi discovery.
Aspiring gold producer De Grey Mining has received commitments to raise $100 million, which it will use to fund ongoing exploration at its Mallina project in the Pilbara.
Our daily board moves wrap includes John Palermo, Anthony Fitzgerald, Glenn Jardine, Shane McBride, Eva O'Malley, Andy Bayfield, Grant Froese, Frank Holler, Peter Harold, and Sophie Raven.
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SOUTH Africa's RMB Resources is not a new player in the Australian market, but it's the kind of financier that is likely to become more prominent as local companies seek alternative funding solutio
