Reported 2 days ago
Northern Star Resources Ltd. has announced its acquisition of De Grey Mining Ltd. in an all-share takeover valued at approximately A$5 billion ($3.3 billion). This strategic move is aimed at increasing supply amidst rising gold prices, granting Northern Star complete ownership of the lucrative Hemi project in Western Australia. The deal offers De Grey shareholders a 37% premium, with plans for significant production growth expected to commence by 2026. Despite some market reactions, Northern Star remains focused on expanding its existing projects while navigating a supportive gold market.
Source: YAHOO