Northern Star Resources confirms the acquisition of gold mining company De Grey Mining Ltd (De Grey) through a court-approved scheme of arrangement.
All De Grey shares have now been transferred to Northern Star. The new Northern Star shares are expected to commence trading on the ASX on a normal settlement basis from 6 May 2025.
De Grey has applied for its removal from the official list of the ASX and termination of the official quotation of its shares.
Commenting on the completion of the acquisition of De Grey, Northern Star Managing Director & CEO, Stuart Tonkin, said:
“On behalf of everyone at Northern Star, I welcome De Grey’s team and its shareholders to our Company. The acquisition of De Grey is strongly aligned with Northern Star’s strategy to generate superior returns for shareholders. We believe that Hemi will deliver a low-cost, long-life and large-scale gold mine in the tier-1 jurisdiction of Western Australia, further enhancing the quality of our asset portfolio and ability to generate cash earnings.
“The Northern Star team looks forward to integrating Hemi into our portfolio and building strong relationships with the Kariyarra people, other Traditional Owners in the Hemi project area and additional Hemi project stakeholders.”
