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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
De Grey Mining
De Grey Mining (DEG) investor relations material
De Grey Mining has been delisted
De Grey Mining Trading Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Trading Update summary3 Apr, 2025
Corporate and strategic developments
Northern Star Resources' proposed acquisition of De Grey Mining is progressing, with the Scheme Meeting set for 16 April 2025 and key milestones achieved, including court and regulatory approvals.
Cash and short-term deposits total $743 million at March 2025, expected to fully fund the Hemi Gold Project if the acquisition does not proceed.
Project metrics have improved due to a rise in spot gold price to ~A$5,000/oz, well above the DFS assumption of A$2,700/oz.
Senior debt facility documentation is advancing, with syndicate support and no compulsory hedging required.
The board unanimously recommends shareholders vote in favor of the Scheme, with the Independent Expert deeming it fair and reasonable.
Project development and operational readiness
Outstanding infill drill results at Brolga and Eagle confirm strong mineralisation and support rapid capital payback.
Maiden Measured Mineral Resource Estimate at Brolga: 12.7Mt @ 1.4g/t for 0.6Moz; Brolga Stage 1 pit Probable Ore Reserve: 26.9Mt @ 1.64g/t for 1.42Moz.
Contracts for long lead items totaling $206M have been awarded, slightly below DFS estimates.
Project construction and operational readiness activities are on track, with key plant and infrastructure packages progressing and capital cost reviews ongoing.
Mining and processing plant tenders are under review, with pricing generally in line with DFS expectations.
Exploration and resource updates
Hemi Gold Project MRE upgraded to 11.2Moz in Nov 2024; global project MRE now 13.6Moz.
Hemi Probable Ore Reserve increased to 121Mt @ 1.5g/t Au for 6.0Moz as of September 2023.
Recent drilling at Eagle extends mineralisation by at least 100m down plunge, enhancing underground mining potential.
DFS production plan targets 553,000oz Au per annum over the first 10 years at 1.7g/t, with a post-tax NPV5% of A$2.9B and IRR of 36%.
Project construction period expected to be two years, subject to statutory approvals and final investment decision.
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Latest events from De Grey Mining
- Hemi Gold Project advanced with DFS, resource growth, and $900M equity raised; net loss narrowed.DEG
H2 2024 - All-share acquisition creates a top 10 global gold producer with major growth and ESG strengths.DEGInvestor Update
- All resolutions passed as the Hemi Gold Project advances with full funding and 2025 construction plans.DEGAGM 2024
- Hemi Gold Project is set to become a leading Australian gold mine with strong financial backing.DEGInvestor Presentation
- Hemi Gold Project fully funded with strong cash, advancing approvals, and expanding resources.DEGTrading Update
- Strong DFS, funding, and resource growth drive project toward production and value creation.DEG2024 Precious Metals Summit Beaver Creek
- Hemi Gold Project fully funded, advancing approvals, and targeting 700koz pa gold output.DEGTrading Update
- De Grey Mining posts H1 profit, grows Hemi resource to 13.6Moz, and agrees to Northern Star takeover.DEGH1 2025
De Grey Mining
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Frequently asked questions
De Grey Mining Limited is an Australian gold exploration and project development company with a primary focus on the Mallina Gold Project in the Pilbara region of Western Australia. De Grey Mining was incorporated in 2000 and has been actively exploring in the Pilbara since its inception. The company is headquartered in West Perth, Australia, and its shares are listed on the ASX.