De Grey Mining executive chairman exercises options worth...

De Grey Mining executive chairman exercises options worth $188,334

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17:29 23 Nov 2018
The listed and unlisted options were to expire on November 30, 2018.
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De Grey is advancing the Pilbara Gold Project, 60 kilometres south of Port Hedland
De Grey Mining Limited (ASXEG) executive chairman Simon Lill has exercised more than 380,000 listed options and 1.5 million unlisted options.
The options were exercised at a price of 10 cents each and the two tranches together amount to $188,334.

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Lill’s total holding now consists of 6,983,333 ordinary fully paid shares, 1 million unlisted options at a 30-cent exercise price and 1.5 million performance rights.
READ: De Grey Mining’s drilling confirms high-grade lithium, caesium and tantalum at King Col

De Grey entered into an underwriting agreement with Taylor Collison Limited earlier this week to underwrite 37.5 million listed options.
Exercised at 10 cents an option the agreement will result in $3.75 million.
De Grey considers the agreement a prudent capital management measure that allows it to lock in and commit to its immediate and planned exploration activities.
De Grey expects to announce the number of shares to be issued as a result of the underwriting on or around December 7, 2018.
READ: De Grey Mining recovers coarse gold and nuggets in first bulk sampling

The company recently acquired Chinese-owned Indee Gold Pty Ltd, enabling it to bring its interest in the Pilbara Gold Project to 100%.
Earlier this month, De Grey received initial positive results from trial bulk sampling at Loudens Patch within the Pilbara Gold Project.
Additionally, De Grey’s recent drilling program successfully intersected high-grade underground lodes below the Withnell proposed open pit.