DGO increases Yandal stake

DGO Gold bought 4.44 million Yandal Resources shares off-market on Monday, taking its stake in the gold explorer to nearly 14.3% (reports MiningNews).
9th April 2021
Resources Rising Stars

DGO Gold bought 4.44 million Yandal Resources shares off-market on Monday, taking its stake in the gold explorer to nearly 14.3% (reports MiningNews).

The seller of the shares wasn't disclosed, with DGO paying 45c per share.

DGO first invested in Yandal last October when it paid $4 million buying eight million shares at 50c each.

It is now the largest individual shareholder in Yandal, with Northern Star Resources recently shown as holding 13%.

DGO is an explorer in its own right as well as an investor in companies it believes can yield "venture capital-type" returns.

DGO's executive chairman is well known geologist and corporate executive Ed Eshuys, while the capital markets-famed Bruce Parncutt is an executive director at the company.

DGO's other investments include the big gold exploration success story De Grey Mining.

For its part Yandal is in the midst of drilling more than 100,000m in greenstone belts north of Kalgoorlie, with multimillion ounce discoveries being targeted.

Yandal had cash at the end of February of $9.6 million.

Shares in Yandal were up 2.3% to 44.5c in afternoon trade, capitalising it at $41 million.

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