Further to Gold Road Resources Limited’s (ASX: GOR) announcement on August 18, the company has today confirmed that it has increased its stake in De Grey Mining (ASX: DEG) to 19.99 per cent.
The increased interest in De Grey includes a strategic derivative transaction arranged by Credit Suisse for Gold Road.
This acquisition of further shares in De Grey is consistent with Gold Road’s stated strategy to grow and diversify its growth pipeline.
At this stage, this shareholding is seen as a long-term investment and Gold Road does not intend to make a takeover bid or other offer for De Grey th0ugh Gold Road reserves its right to do so and to make further investments in De Grey at any time.
