DEG is currently in a trading halt as it raises $300mn at $1.05, a 5.8% discount to its last traded price – the raise represents 18.3% of DEG’s existing shares on issue. The proceeds of the raise are to be used to advance project implementation and further exploration of its tenement package, i.e. business as usual.
- We prefer local gold producers who are producing earnings now.
MM is neutral towards DEG
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