Ann: Mallina Gold Project - Project Financing Update, page-35

De Grey (ASXEG): Trading at $1.64 mid-week, the company is a beneficiary of the 10% rise in the US dollar gold price in the opening quarter of 2023. It has got a big market cap of $2.5 billion but it is not your average explorer as it has 10.6M oz of gold under its belt at its Mallina project.
The mid-year should see completion of a definitive feasibility study into what is set to become one of Australia’s biggest gold mines. Completion of project funding should not be too far behind the DFS, and it will all systems go.
It has takeover appeal too. Newmont’s $28bn tilt for Newcrest demonstrates that the big boys are up and about in the M & A space as the pressure on them to at least maintain their forward reserves is as strong as ever. Gold Road (GOR) has positioned itself to any takeover action in De Grey by putting its foot on 20% of the company.