https://www.engineeringnews.co.za
Gold|PROJECT|Resources|Road
Gold|PROJECT|Resources|Road
gold|project|resources|road

Gold Road not looking at De Grey takeover - yet

19th August 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Gold miner Gold Road Resources has increased its shareholding in fellow-listed De Grey from 14.45% to 19.99%, but has said it had no immediate intentions to launch a takeover offer.

Gold Road this week said that its acquisition of further shares in De Grey was consistent with the company’s stated strategy to grow and diversify its growth pipeline.

“At this stage, this shareholding is seen as a long-term investment and Gold Road does not intend to make a takeover bid or other offer for De Grey, but Gold Road reserves its right to do so and to make further investments in De Grey at any time,” the company told its shareholders.

Gold Road acquired its initial holding in De Grey through the A$308-million takeover of DGO Gold earlier this year. DGO also owned a 6.8% interest in Dacian Gold and a 20.1% interest in Yandal Resources.

Dacian gold is currently the target of a takeover bid from ASX-listed Genesis Minerals, which is offering 0.0843 of its own shares for every Dacian share held.

De Grey for its part told shareholders on Friday that the company would continue to focus on the delivery of its strategy to become a Tier 1 gold producer from its Mallina gold project and remained on track for the release of a prefeasibility study in the September quarter.

Edited by Creamer Media Reporter

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.081 0.133s - 158pq - 2rq
Subscribe Now