Major Gold Mine Developer De Grey Signs Exclusive Option to Acquire Ashburton Gold Project, Boosting Hemi’s Potential, Australia

De Grey has signed an exclusive option agreement to potentially acquire the 1.44Moz Ashburton gold project, a move that could boost the production rate and mine life of its Hemi gold project. De Grey’s Hemi project is already deemed world class, with a September DFS showing promising development prospects. In an effort to enhance its metrics, De Grey is exploring the possibility of constructing a regional concentrator, as well as assessing a similar strategy for the Ashburton project. The option agreement allows De Grey to conduct due diligence on the Ashburton project and potentially acquire it. Initial assessments suggest that Ashburton could complement the development strategy for Hemi and increase its gold production rate and operational life. The potential acquisition cost for Ashburton is seen as attractive, representing one of the lowest-cost transactions in the last decade. Perth stockbroker Argonaut has described the option as sensible and highlighted the favorable acquisition cost. The integration of the Ashburton project aligns with De Grey’s commitment to consolidating regional opportunities surrounding Hemi.