Northern Star completes De Grey acquisition
ASX-listed Northern Star Resources on Monday completed its acquisition of De Grey Mining, gaining ownership of the Hemi gold project in Western Australia.
De Grey has applied for its removal from the ASX and termination of the official quotation of its shares, with delisting set to take effect on Tuesday.
“On behalf of everyone at Northern Star, I welcome De Grey’s team and its shareholders to our company,” said Northern Star MD and CEO Stuart Tonkin.
“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.”
He added that the Northern Star team looked forward to integrating the Hemi project into its portfolio.
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