This ASX 200 gold share could have 50% upside: broker This ASX...

This ASX 200 gold share could have 50% upside: broker

This ASX share could provide golden returns for investors according to Bell Potter.


James Mickleboro❯
Published June 27, 4:45 pm AEST
DEG

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If you’re wanting exposure to gold, then De Grey Mining Limited (ASX: DEG) could be the way to do it.
That’s the view of analysts at Bell Potter, which believe big returns could be on offer with this ASX 200 gold share.
What is the broker saying about this ASX 200 gold share?

According to a note released today, Bell Potter has retained its speculative buy rating on the gold developer’s shares with an improved price target of $1.93.
Based on the current De Grey Mining share price of $1.29, this implies potential upside of approximately 50% for investors over the next 12 months.
Bell Potter notes that the company released an updated mineral resource estimate for its 100%-owned Mallina Gold Project (MGP) in Western Australia. That update revealed a 10% increase in its resource to 278Mt @ 1.3g/t gold for 11.7Moz contained.
This bodes well for the company ahead of the upcoming definitive feasibility study (DFS) and ore reserve update, which is expected to be completed in the September quarter 2023.