BUZZ-Australia's De Grey Mining hits 16-year high on Northern Star Resources' buyout offer

Reuters
02 Dec 2024

** De Grey Mining jumps as much as 29.4% to A$1.968, highest since April 2, 2008

** Stock posts biggest intraday pct gain since June 9, 2020

** Gold miner gets takeover offer from Northern Star Resources , valuing it at A$5 bln ($3.25 bln)

** A$2.08 offer price a 36.8% premium to Friday's close

** NST drops as much as 5.2% to A$16.6; biggest intraday pct decline since Nov. 7

** Gold Road Resources , DEG's biggest shareholder, rises as much as 10.7% to record high of A$2.065

** DEG, GOR among top gainers on benchmark index , NST top loser

** About 7.5 mln DEG shares traded, ~1.1x the 30-day avg

** DEG up 58.1% YTD

($1 = A$1.5394)

(Reporting by Aaditya Govind Rao in Bengaluru)

((Aaditya.govindrao@thomsonreuters.com;))

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