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De Grey Mining (ASX:DEG) - Executive Chairman, Simon Lill
Executive Chairman, Simon Lill
Source: Finance News Network
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  • De Grey Mining (DEG) has requested a trading halt ahead of a capital raise, backflipping on an announcement made last week
  • Following the publication of an article in the AFR that claimed a capital raise was just around the corner, De Grey responded that it was not under any pressure to undertake a raising
  • Further, the company said that while it will require further capital at some stage, it had not “determined the mechanism, quantum, nor timing of any such raising”
  • Nevertheless, just a week later, De Grey shares have been placed in a trading halt ahead of an announcement regarding a capital raising
  • Company shares are frozen at 32 cents each

De Grey Mining (DEG) has requested a trading halt ahead of a capital raise, backflipping on an announcement made last week.

Following the publication of an article in the Australian Financial Review that claimed a capital raise to the tune of roughly $25 million was just around the corner, De Grey responded that it was not under any pressure to undertake a raising.

In its response, De Grey stated that “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.”

Nevertheless, just a week later, De Grey shares have been placed in a trading halt ahead of an announcement regarding a capital raising.

De Grey shares are frozen at 32 cents each.

DEG by the numbers
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