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De Grey Mining (ASX:DEG), developer of the Hemi gold project, was acquired by Northern Star Resources. In February 2026, Seneca noted Northern Star's takeover of De Grey and its refractory Hemi orebody validated the value of large, undeveloped gold deposits in Western Australia, using it as a benchmark for valuing other gold developers such as Antipa Minerals and Golden Horse. De Grey Mining operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 1 comment from 1 fund manager, Seneca Financial Solutions. Headquartered in West Perth, De Grey Mining explored and developed the Mallina Gold Project in the Pilbara region of Western Australia, centred on the Hemi discovery, one of Australia's largest gold discoveries of the past decade, before its acquisition by Northern Star Resources, which plans to develop Hemi into a major long-life gold mine.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Seneca Financial Solutions have invested in De Grey Mining Ltd (ASX:DEG).
Seneca highlights Northern Star's acquisition of De Grey, which validated the value of large undeveloped gold resources like Hemi.
With the takeover complete, there is no ongoing listed exposure to De Grey, and Hemi's refractory ore adds processing complexity for Northern Star.
De Grey Mining Limited (ASX: DEG) is a Western Australian gold exploration and project development company. Its main focus is the 100% owned Hemi Gold Project in the Pilbara region of Western Australia.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.