M&A

De Grey and Novo team up to find the next Mallina

DE GREY Mining has agreed to spend some A$35 million to dramatically increase its exposure to the gold potential of Western Australia's Pilbara, entering into a multi-part deal with Toronto-based Novo Resources.

 Novo's Pilbara pasture

Novo's Pilbara pasture

In return for spending at least $25 million on exploration over the next four years, De Grey will earn a 50% interest in Novo's 1034sq.km Egina project that sits along trend from De Grey's 11.7 million...

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