De Grey Mining Ltd (AU:DEG) has released an update.
De Grey Mining Ltd has announced promising results from its Hemi Regional Scoping Study, indicating potential for substantial gold production and strong financial returns over a six-year period from its deposits in Western Australia. The study projects an average gold production of 142,000 ounces per annum, contributing to a forecasted regional output of 700,000 ounces per year by the fourth year of operations at Hemi, with anticipated pre-tax free cashflows of around $400 million. The development of the Hemi Regional deposits will be financed through operational cashflows rather than existing company reserves, while ongoing exploration aims to further enhance resource estimates and project viability.
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