Ann: Response to AFR article, page-2

ASX Announcement
De Grey Mining Limited (ABN: 65 094 206 292) ASX Code: DEG FRA Code: WKN 633879
Level 3, 24-26/22 Railway Rd PO Box 2023 T: +61 8 6117 9328 E: [email protected]
Subiaco WA 6008, Australia Subiaco WA 6904 F: +61 8 6117 9330 W: www.degreymining.com.au
16 April 2020
ASX
Perth Office
RESPONSE TO AFR ARTICLE
De Grey Mining Limited (ASX: DEG, “De Grey” “Company”) is required to respond to an article that has appeared
in the Australian Financial Review (AFR) on 16 April 2020. We note that the AFR did not seek any commentary
from the Company in respect of this article.
The Company has had many capital raising opportunities put in front of it. It regularly reviews these opportunities
and will continue to do so. It also notes that Bell Potter Securities has been the lead broker on De Grey’s two most
recent capital raisings.
The Company will at some stage require further capital. However, the Company has not determined the
mechanism, quantum, nor timing of any such raising and are not under any immediate pressure to raise.
As recently as 18 March 2020, we made an announcement to confirm the receipt of a further $4.75M from our
largest shareholder, DGO Gold Limited (“DGO”), on DGO exercising two option series (“Options”), being 10 million
options exercised at $0.10 and 12.5 million options exercised at $0.30.
We expect to release our Quarterly Activity and Cash Flows Reporting for the March Quarter next week but can
advise now that we will be reporting a cash reserves balance of $9.9M.
This ASX Announcement was approved and authorised by the Executive Chairman, Mr. Simon Lill