PRECIOUS METALS

De Grey working on increasing gold numbers at Mallina

Drilling and PFS work continuing at big pre-development project

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Infill drill results reported today included a headline grabbing 28m at 8.8 grams per tonne from 39m and a slew of broader widths grading 1-1.6gpt.

Also reported were half-a-dozen extensional results at depth below scoping study pit designs grading 1-1.2gpt.

De Grey aims to complete the PFS in the second half of 2022.

A scoping study completed last October proposed a production profile of up to 513,000oz in year two, with average production of 473,000oz over the first five years and 427,000oz per annum over the 10-year evaluation period.

De Grey started the current quarter with A$123 million cash.

Shares in De Grey were up 1% to $1.21 in early trade, capitalising the company at $1.7 billion.    

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