de gray mining stock guide

De Grey Mining Limited (stock)

Lead summary

de gray mining stock is the common search term for De Grey Mining Limited (ASX: DEG). As an Australian gold explorer and project-development company focused on the Mallina/Hemi Gold Project in Western Australia’s Pilbara region, De Grey was publicly traded on the Australian Securities Exchange under ticker DEG through early–mid 2025. As of May 2025, the company reported development milestones and was subject to corporate actions (scheme of arrangement, suspension of quotation and removal from ASX official list) described in its ASX announcements and market filings.

This article provides a structured, beginner-friendly reference on De Grey Mining Limited (stock) covering company background, project and resource context, recent corporate events (2024–2025), stock and market information, financial highlights, governance, risks and sources for primary documents. Readers who wish to trade or monitor corporate filings may consider a regulated venue such as Bitget; for custody, Bitget Wallet is an option to explore for secure key management.

Company overview

De Grey Mining Limited is an Australian gold exploration and development company whose principal asset is the Mallina/Hemi Gold Project on the Pilbara craton in Western Australia. The company’s business model centred on systematic exploration, resource definition under the JORC code, engineering and feasibility studies, and planning for project development and eventual production at Hemi and adjacent gold zones.

Operations have focused on delineating multiple mineralised zones across an extensive tenure package in the Mallina Basin. Activities historically included drilling campaigns, resource and reserve estimation, metallurgical testwork and development studies. Geographically, De Grey’s activities were concentrated in north‑west Western Australia, which hosts major mining infrastructure and services relevant to project construction and potential future operations.

De Grey’s strategy combined value creation through exploration success (resource growth at Hemi and satellite deposits), progressing development studies (DFS/FEED) and engaging with the market on financing and potential strategic transactions to move the project toward production.

History and corporate timeline

De Grey Mining was established as an ASX‑listed exploration company pursuing gold targets in the Pilbara. Over several years the company advanced exploration programmes that led to the discovery and expansion of the Hemi gold system, which emerged as a multi‑zone, high‑grade gold province within De Grey’s Mallina tenure.

Key milestones across the company’s timeline included early exploration and tenure consolidation, incremental JORC resource upgrades as drilling expanded the footprint of Hemi, feasibility study work and pre‑development planning. The discovery and subsequent drilling success at Hemi materially re‑rated the company in equity markets and attracted strategic attention from larger gold producers.

Recent corporate events (2024–2025)

As of May 2025, De Grey reported a sequence of corporate and project milestones that shaped its market status. These events — drawn from company ASX announcements and market filings — include:

• 2024–early 2025: Completion of detailed feasibility study elements and resource/reserve updates for the Hemi deposits, reflecting advancement of technical studies and economic assessment work.

• April–May 2025: The company and the market disclosed a scheme of arrangement related to an acquisition proposal. According to ASX announcements and scheme documents lodged by De Grey and the bidder, the scheme proceeded through shareholder approvals and regulatory steps in the April–May 2025 window.

• Mid‑May 2025 (reported): The scheme was implemented, leading to the suspension of quotation of De Grey shares and formal removal from the ASX official list following completion of the implementation steps noted in the scheme documents. As of May 2025, these corporate actions materially altered the trading status of de gray mining stock and impacted shareholder rights subject to the scheme terms.

• Market filings during this period also recorded completion notices, takeover consideration arrangements and statements about the post‑transaction ownership structure in accordance with ASX disclosure obligations.

Sources: ASX announcements and the De Grey scheme/implementation documents (refer to company ASX releases dated April–May 2025). For exact dates and binding terms, consult the primary scheme documents and ASX release notices.

Projects and operations

The Mallina/Hemi Gold Project is De Grey’s flagship asset. It sits within the Mallina Basin in the Pilbara region, an area better known for iron‑ore but increasingly significant for major gold discoveries in recent years. The Hemi deposit comprises multiple mineralised zones across contiguous tenure.

Project highlights and technical context:

• Location and tenure: Mallina tenure spans a substantial area of exploration and mining tenements in the Pilbara. Hemi and adjacent deposits (often referenced in company materials by zone names such as Aquila, Brolga, Crow and others) are located within accessible distance of regional infrastructure.

• Geology: The Hemi system is hosted in Pilbara stratigraphy and characterised by multiple structurally and lithologically controlled gold zones. Company technical releases describe stacked lodes and variable styles of mineralisation across the main zones.

• Resources and reserves: De Grey published JORC Mineral Resource estimates for Hemi and supporting zones during the resource growth phase. In 2024–2025 the company updated resource and reserve figures and incorporated these into development studies for the DFS. Readers should consult the company’s ASX resource and reserve announcements dated in 2024 and 2025 for exact tonnage, grade and contained ounces.

• Development studies (DFS): The company released Definitive Feasibility Study outputs and related economic highlights as they became available. DFS materials typically included projected steady‑state annual gold production, mine life assumptions, capital expenditure (capex) estimates, operating cost guidance and financial indicators used to underpin project economics. As of May 2025, the DFS and subsequent updates were primary references for expected production profiles and cash‑flow modelling in the company’s investor communications.

• Exploration targets and growth potential: Exploration remains a key value driver — resource expansion drilling and step‑out targets around Hemi were part of the company’s forward program prior to the scheme implementation. De Grey’s public presentations historically outlined multiple exploration targets across the Mallina package.

For precise technical parameters (JORC tables, assumptions, metallurgical recoveries, pit design parameters and schedule), consult the company’s ASX technical releases and DFS/NI reports dated in 2024–2025.

Stock and market information

de gray mining stock was traded on the Australian Securities Exchange under ticker DEG from its IPO/listing date until corporate events in 2025 altered its trading status. Market‑data snapshots in April–May 2025 recorded a market capitalisation in the multi‑billion Australian dollar range as interest in Hemi and the company’s development progress attracted institutional attention.

Ticker, listing and identifiers

• Exchange: Australian Securities Exchange (ASX)
• Ticker: DEG
• ISIN and other identifiers: Refer to official ASX company profile and provider data feeds for the ISIN and vendor‑specific identifiers. The ASX company page and the company’s investor relations materials list the definitive codes.

Market capitalization and shares outstanding

As reported in market data summaries and company disclosure in April–May 2025, De Grey’s market capitalisation was quoted in the region of A$5.9 billion (reflecting closing prices and shares on issue in that reporting window). For an exact figure, consult the ASX market snapshot dated the relevant day in April or May 2025 and the company’s issued capital table in its corporate filings.

Recent price performance and historical ranges

Across 2024–2025, de gray mining stock experienced material volatility associated with exploration news, resource updates and announcement of the scheme. Market commentary in April–May 2025 captured a rally in the lead‑up to the transaction and subsequent suspension of trading when the scheme proceeded to implementation. For specific 52‑week ranges, daily closing prices, volume patterns and short‑term momentum indicators, refer to market‑data providers or the ASX price history pages for DEG.

Trading status and corporate actions affecting trading

According to the company’s ASX announcements and scheme implementation documents filed in May 2025, the following trading impacts occurred:

• A timetable of the scheme included dates for shareholder meetings, implementation and change of status notices.

• Following satisfaction of scheme conditions and implementation steps, De Grey shares were suspended from quotation pending formal removal from the ASX official list. The ASX issued removal notices after implementation steps were completed in accordance with the scheme documents.

• Effect on shareholders: Shareholders should consult the scheme booklet and implementation notices for details about consideration, how and when consideration is delivered, and any changes to shareholder rights. The company’s ASX releases and the scheme’s registry communications are primary sources for these specifics.

Financial performance

De Grey’s reported financials reflect an operating profile typical of a pre‑production explorer/developer: limited mining revenue, with expenditure concentrated on exploration, resource definition and development work. Key drivers of reported results historically include capitalised exploration and evaluation costs, corporate and administrative expenses, and financing activities to support project advancement.

• Revenue and profitability: As an explorer/developer before production, De Grey reported minimal operating revenue from mining sales and recorded exploration and development expenditures as operating or capitalised costs. Reported net losses in annual and interim accounts primarily reflected investment in exploration and study work rather than operating cash‑flow from production.

• Balance sheet highlights: Company balance sheets historically showed cash and liquid assets (reflecting successful capital raises), capitalised exploration and evaluation assets, and limited operating debt. During DFS and development phases, companies in this stage can carry material deferred project expenditure on the asset side and short‑term liabilities tied to contractors and vendors.

• Financing activity: De Grey completed capital markets transactions and financing arrangements across its development timeline. The scheme and acquisition activity in 2025 also included announcements about the deliverable consideration and how the transaction would be funded by the bidder; those are documented in the scheme and bidder disclosure materials.

For precise numbers (annual revenue, net loss/profit, total assets, total debt), consult De Grey’s audited annual report and quarterly reports lodged on the ASX for financial year 2024 and the interim statements in 2025.

Key financial metrics

Notable metrics commonly consulted for pre‑production miners include:

• Enterprise value (EV) to resource ounces or EV/contained‑ounce ratios used by analysts to compare companies of different sizes.
• Cash on hand and committed finance lines to support DFS and early works (cash/debt metrics).
• Price/book (P/B) ratios and other valuation multiples based on market capitalisation and book equity.

Market data providers published such ratios for De Grey in the April–May 2025 window; analysts also flagged standard caution about valuation metrics for non‑producing companies because produced revenue streams were not yet established.

Ownership and major shareholders

Prior to and during the 2024–2025 takeover process, De Grey’s share register included institutional investors, retail holdings and insider stakes disclosed under ASX continuous disclosure rules. The scheme implementation in 2025 materially changed the ownership register as the bidder acquired shares under the scheme terms.

For definitive and up‑to‑date major shareholder lists (substantial holders notices, top 20 register), consult the company’s ASX substantial holder announcements and the shareholder information disclosed in the scheme documents and the company’s annual report.

Corporate governance and management

De Grey’s governance framework comprised a board of directors, an executive management team and governance policies required of ASX‑listed entities. Typical public disclosures included director profiles, the managing director/CEO, chair and non‑executive directors, remuneration reports, and committee charters.

Profiles of key executives and board members were provided in the company’s annual report and ASX announcements. For detailed biographies, remuneration details and board committee responsibilities, the company’s remuneration report and corporate governance statement (lodged with annual reports and on the ASX) are the authoritative sources.

In the scheme period, the board’s recommendation or position on the scheme (whether the board recommended the bidder, or provided an independent expert report) was documented in the scheme booklet made available to shareholders and lodged with the ASX.

Risks and investment considerations

This section outlines principal risk categories relevant to De Grey as a gold explorer/developer. It is factual and not investment advice.

• Resource and reserve risk: Estimated resources and reserves can change with additional drilling, re‑modelling and changes to economic assumptions. JORC classifications and reserve conversions carry geological and technical uncertainty.

• Development and construction risk: Moving from DFS to construction and production involves capex risk, schedule risk, contractor performance, scope changes and potential cost overruns.

• Commodity price exposure: Gold price volatility materially affects project economics, valuation and financing appetite.

• Permitting, environmental and regulatory risk: Approvals, environmental impact assessments, native title agreements and regulatory compliance can affect timing and cost of project development.

• Financing and dilution risk: Non‑producing companies typically require external financing (equity, debt or strategic partners). Financing can dilute existing shareholders or alter capital structure.

• Corporate action and scheme risk: During takeover or scheme processes, shareholders face specific risks around the implementation (conditions precedent, regulatory approvals, timing and deliverable consideration). The scheme booklet and independent expert reports discuss these in detail for affected shareholders.

Investors and stakeholders should refer to the company’s risk disclosures in the latest annual report and the scheme booklet for the most detailed enumeration of material risks.

Regulatory filings, announcements and investor relations

Primary source documents for authoritative information on De Grey and de gray mining stock include:

• ASX announcements (including continuous disclosure notices, scheme documents, DFS summaries, resource and reserve statements and periodic financial reports).

• The company’s annual report, quarterly activity and cashflow reports, and investor presentations lodged with the ASX.

• Scheme booklet and bidder disclosure documents (for details on transaction mechanics and consideration).

As of May 2025, the scheme documents and ASX announcements are the definitive sources for any claims about delisting, scheme implementation and changes to shareholder entitlements. Always consult the dates and version numbers on lodged documents to ensure you are referencing the latest material.

Media coverage and market commentary

Third‑party coverage of De Grey historically appeared across financial news outlets, mining‑industry press, market data pages and investor comment forums. Coverage types include:

• Breaking news on discovery and resource upgrades, often summarised by financial news wires.
• Technical and project analysis in mining industry publications that drill into DFS assumptions and metallurgical testwork.
• Market commentary about takeover interest, scheme proposals and possible strategic bidders during the 2024–2025 period.

Important note: Media commentary should be cross‑checked with official ASX announcements and company filings. For time‑sensitive items (scheme implementation, suspension of quotation and removal from official list), rely primarily on the formal ASX notices and the scheme booklet.

See also

• Australian Securities Exchange (ASX) listing and continuous disclosure framework
• Northern Star Resources (referenced in market commentary where relevant to bidding activity)
• Gold mining industry in Western Australia and Pilbara region exploration context

References

The following are the categories of primary sources you should consult for verification. Where specific dates are required, refer to the corresponding ASX release date.

• Company ASX announcements and scheme documents (De Grey Mining Limited — ASX releases dated April–May 2025). As of May 2025, these releases include scheme implementation notices and resource/reserve updates.

• De Grey Mining Limited annual report and quarterly reports (financial year 2024 and interim 2025 reports).

• Market coverage and summary reports (financial news wires and mining industry publications reporting on De Grey and the 2024–2025 scheme activity). Example sources commonly cited in market coverage: Reuters, Stockhead, Mining.com, InvestingNews — check the publication dates in April–May 2025.

For any factual confirmation regarding market capitalisation, shares on issue or price history cite the ASX market data page and the company’s own lodged documents for the precise date and figure.

External links

(Primary resources — search these entities directly via a web browser or your market data provider; external URLs are not included here.)

• De Grey Mining Limited — official company website and investor relations page
• ASX company page for DEG — official announcements and price history
• ASX announcements and lodged scheme documents (scheme booklet, implementation notices)
• Major market‑data providers for live quotes and historical price series

Practical next steps and where to monitor de gray mining stock news

• For real‑time trading or monitoring of de gray mining stock when listed, use a regulated exchange or a reliable market‑data platform. Bitget provides trading and market tools for equities and other asset classes; for custody, consider Bitget Wallet.

• For legal or financial consequences of the scheme (consideration timing, tax implications, registry instructions), review the scheme booklet and seek professional advice.

• For technical details on the Mallina/Hemi project (JORC tables, DFS parameters), consult ASX‑lodged technical releases and the company’s DFS appendices.

Further exploration: check the company’s ASX announcement index for the full timeline of resource statements, feasibility study updates and scheme documentation dated April–May 2025.