As part of the acquisition process, De Grey has initiated the procedure to delist from the ASX.
Under the terms of the deal, De Grey shareholders received 0.119 new Northern Star shares for each De Grey share held as of April 28, 2025. For shareholders ineligible to receive shares or subject to Foreign Resident Capital Gains Tax requirements, Northern Star issued shares to a sale nominee. The nominee will sell these shares, with the net proceeds distributed to the affected shareholders as detailed in the De Grey Scheme Booklet.
Stuart Tonkin, Northern Star’s managing director and CEO, commented: “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.”
The acquisition strengthens Northern Star’s position in Western Australia, with the Hemi project expected to contribute significantly to the company’s portfolio. The project is anticipated to be a cost-efficient, large-scale operation with a long operational lifespan, supporting Northern Star’s growth objectives.
As part of the acquisition process, De Grey Mining has begun delisting from the Australian Securities Exchange (ASX). The company’s shares, which have been suspended from trading since the arrangement took effect, will be removed from the ASX’s official list after trading closes today. This marks the completion of De Grey’s transition under Northern Star’s ownership.
The acquisition reflects Northern Star’s commitment to expanding its operations while fostering positive relationships with local communities and stakeholders in Western Australia. The integration of the Hemi project is expected to enhance the company’s ability to deliver sustainable value to its shareholders.
