Gold Road approves acquisition by Northern Star

In a surprising turn of events, Gold Road Resources has decided to support Northern Star’s $6 billion bid to acquire De Grey Mining, just days before the deal deadline. This move by Gold Road, which had previously expressed doubts about the takeover since December, marks a significant shift in the mining industry.

The decision by Gold Road to back Northern Star’s acquisition of De Grey Mining comes after months of speculation and uncertainty. Many had speculated about the fate of De Grey Mining’s $1 billion stake and its future as a company. However, with Gold Road’s endorsement, the fate of these assets appears to be sealed.

One of the key assets that will potentially become part of Northern Star’s portfolio is the Hemi project. This project is a significant resource that Gold Road had previously been hesitant to support Northern Star’s takeover bid. However, with Gold Road now on board, it seems that the Hemi project will soon become a Northern Star asset.

The mining industry is abuzz with the news of this last-minute support from Gold Road. Industry experts and analysts are closely watching the developments surrounding the acquisition of De Grey Mining by Northern Star. The deal is expected to have far-reaching implications for the mining sector and could reshape the landscape of the industry.

Despite the uncertainty that has surrounded this acquisition, the endorsement from Gold Road has provided clarity and direction to the deal. It is a sign of confidence in Northern Star’s ability to manage the assets of De Grey Mining effectively. This move is seen as a positive step for the industry and could set the stage for future collaborations and partnerships in the mining sector.

As the deadline for the takeover approaches, all eyes are on Northern Star and De Grey Mining. The fate of these two companies and their assets hangs in the balance as the deal inches closer to completion. The support from Gold Road has added a new dimension to this acquisition and has sparked renewed interest in the mining community.

Overall, Gold Road’s decision to support Northern Star’s bid for De Grey Mining has injected new energy into the mining industry. It has opened up new possibilities and opportunities for collaboration and growth. The coming days will be critical as the deal approaches its conclusion, and the industry eagerly awaits the outcome of this landmark acquisition.