On Monday, Northern Star Resources (ASX:NST) announced a deal to acquire De Grey Mining (ASX:DEG), including its world-class Hemi Gold Project. The $5bn acquisition, if approved, would see De Grey shareholders receiving 0.119 Northern Star shares for each De Grey share. This represents a 39% premium to De Grey’s closing price last Friday. Over the past five days, shares in Northern Star fell 5.4 per cent.
Also on Monday, shares in global investment management firm GQG Partners (ASX:GQG) fell 14% after a downgrade from UBS. The company has a significant investment in the Adani Group, one of India’s largest conglomerates. However, US bribery charges were brought against Adani’s founder and a number of senior executives in mid November. Over the past five days, shares in GQG fell over 9 per cent.
Hazer Group (ASX:HZR) shares got a bump on Tuesday after the company was awarded $6.2m in funding from the Western Australian Government. Hazer has an innovative process for producing hydrogen, using natural gas as a feedstock and iron ore as a catalyst. This results in a low-emission, cost-effective alternative to traditional hydrogen production. Over the past five days, shares in Hazer gained almost 12 per cent.
INOVIQ (ASX:IIQ) reported progress with its cancer tests this week. The company’s ovarian cancer test achieved an over 94% accuracy, while its breast cancer test achieved high specificity. Currently, there are no recommended methods for detecting ovarian cancer in women without symptoms, and earlier intervention is known to dramatically increase survival rates. Over the past five days, shares in INOVIQ added over 14 per cent.
On Thursday, HMC Capital (ASX:HMC) announced that it had acquired Neoen’s Victorian renewable energy portfolio for $950m. This includes wind, solar, and battery energy storage systems. The purchase will seed HMC’s Energy Transition Platform.
Over the past five days, shares in HMC Capital lost half per cent.
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Source: Finance News Network
