De Grey Mining - DEG(ASX) News & Expert Insights from Stockhead

De Grey (ASX:DEG) is a Western Australia-based mining company engaged in exploration and development activities for gold as well as base metals. The company’s primary focus is the 100% owned Mallina Gold Project “MGP” (formerly referred to as the Pilbara Gold Project) covering an area greater than 1,200 square kilometres and located only 80 kilometres to the south of Port Hedland, within the Pilbara region.

The MGP is an exciting Australian gold growth project, in what is considered an emerging gold province. It currently contains a 1.7Moz Resource, with the next resource upgrade scheduled for the March 2020 quarter. De Grey has stated its objective to build the resource to 3Moz+.

In early 2020, the Company announced an exciting new gold discovery along the Antwerp-Scooby Trend, with exploration currently focused on the Hemi Prospect where drilling has intersected thick and high-grade gold mineralisation.

De Grey is aiming to transition into production as rapidly as possible, with new economic studies underway looking at a mine development feeding a 2Mtpa processing facility.

The De Grey share register includes ASX-listed DGO Gold Limited (~10%) and Northwest Nonferrous Mining Pty Ltd (5.7%). As at the end of February 2020 the Company had a total of 3,838 shareholders, with the Top 20 shareholders representing ~58% and the Top 50 holders ~68% of all shares held.

KEY PEOPLE

Simon Lill - Executive Chairman

Simon Lill has over 25 years experience in stockbroking, capital raising, management, business development and analysis for a range of small and start-up companies, both in the manufacturing and resources industries. He holds a Masters of Business Administration, along with a Bachelor of Science, both from the University of Western Australia and has worked specialising in restructuring activities.

Andy Beckwith - Executive Technical Director

Andy Beckwith has over 30 years of Geological and Management experience; working as the Managing Director for Westgold and in senior management roles with Anglo. He holds holds a Bachelor of Science (Applied Geology) from the University of South Australia and has had significant impact in the rebirth of the company.His more recent role as Managing Director saw him successfully build Westgold to circa 5M ounces of resources.

Phil Tornatora – Exploration Manager

Mr. Tornatora joins De Grey Mining with over 25 years of geological experience; with over 4 years as General Manager of Exploration at Northern Star. During this time Northern Star advanced from a single mine operation to a multi-mine company producing around 500Koz gold per annum. Prior to this, Phil worked as Exploration and Geology Manager for Galaxy Resources. Philip has a Bachelor of Science (Hons), Master of Economic Geology, and is a member of the AUSIMM and AIG. He has worked on numerous projects, both in Australia, Africa and SE Asia, with his extensive experience being a welcomed addition to the team at De Grey.