WHY IS DEG TOP GAINER TODAY?

De Grey Mining Limited’s stock DEG was the leading gainer today in ASX200. This is attributed to an article in The West Australian Newspaper that was published today stating speculations that DEG's Malina project is sitting on an extra $3 billion worth of gold. They stated that “An underground expansion of Australia’s biggest undeveloped gold deposit is looking more likely after a $3 billion resource upgrade by De Grey Mining.”

De Grey, however, had not commented in that regard. They responded to the newspaper article by issuing a statement. The statement clarifies that this announcement was not initiated by De Grey, and the company was not asked for any comments regarding the article. It is also mentioned that De Grey has not announced any forecast financial information regarding this resource upgrade.

The statement emphasizes that until the release of the DFS (Definitive Feasibility Study) in the third quarter of 2023, no other figures should be relied upon. This implies that any financial projections or estimates related to the increased mineral resource should be considered unofficial until the DFS is released.

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