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De Grey Mining Ltd (DEG) $1.11

UBS upgraded its price target for DEG to $2.10, over 90% above yesterday’s close. We believe DEG’s Mallina gold project is a perfect asset in today’s high gold price environment. The large inventory is attractive, and its already large, long-life, and low-cost asset base is rapidly becoming more strategically appealing. You never know, Gold Road Resources (GOR), who own 17.3% of DEG, might decide they want some more, although a merger may be more likely as DEG has a larger market cap.

  • We like the risk/reward for DEG at around $1.10 after their $600mn capital raise at the same price.
DEG
MM is cautiously bullish towards DEG
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De Grey Mining Ltd (DEG)
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