Here’s some of the companies making the news this week.
The Federal Court of Australia has approved the scheme of arrangement for Northern Star Resources Ltd (ASX:NST) to acquire 100% of De Grey Mining Ltd (ASX:DEG). De Grey lodged the court orders with ASIC on 23 April 2025, rendering the scheme legally effective. As a result, De Grey shares were suspended from trading at the close of that day. Under the scheme, eligible shareholders will receive 0.119 new Northern Star shares for each De Grey share held as at the record date of 28 April. Implementation is scheduled for 5 May, with De Grey set to be delisted from the ASX on 6 May. A draft class ruling from the ATO has confirmed the availability of scrip-for-scrip CGT rollover relief for certain shareholders, though the final ruling is still pending.
Orthocell (ASX:OCC) has appointed its first four US distributors for Remplir™, its collagen-based nerve repair device, following FDA 510(k) clearance earlier this month. The distributors, based in Michigan, Virginia, Colorado, and Indiana, will initiate sales shortly and support medical education and outreach to plastic and orthopaedic surgeons. The appointments mark Orthocell’s entry into the US$1.6bn US nerve repair market, with plans to expand to around 10 distributors covering 25 states by June 2025. The company has built up inventory and logistics to support the rollout and remains fully funded with A$31.7m in cash. Remplir is already approved in Australia, New Zealand, and Singapore, with further regulatory submissions planned for Canada, Thailand, the EU and UK.
RareX (ASX:REE) has partnered with Iluka Resources (ASX:ILU) in a consortium to pursue development of the Mrima Hill rare earths, niobium, phosphate, and manganese project in Kenya. The consortium has submitted an application to Kenya’s National Mining Corporation (NAMICO) for a prospecting licence, which, if granted, would lead to the formation of a joint venture with the Kenyan government. Under the agreement, RareX will lead early-stage work including community engagement and technical studies, while Iluka will hold a 25% stake in the project’s special purpose vehicle and has signed a binding offtake term sheet for rare earths and mineral sands. The rare earths could supply Iluka’s Eneabba refinery in WA, which is backed by a AU$1.65bn federal loan. RareX will initially fund all activities, with Iluka contributing US$10m upon mining licence grant. The Mrima Hill project is considered strategically significant, with potential to support Australia-Kenya cooperation in critical minerals and value chain development. However, the project’s progression remains subject to government approvals.
Capricorn Metals (ASX:CMM) has entered a binding agreement to acquire the 77km² Ninghan Gold Project from Sabre Resources (ASX:SBR) for $1.6m, comprising a $100,000 deposit and Capricorn shares for the balance. The project lies adjacent to Capricorn’s Mt Gibson Gold Project in WA and is considered highly prospective for gold, with seven drill-ready targets identified. Additional contingent payments of up to $1.75m and a 1–1.5% net smelter royalty have also been agreed. Exploration is set to begin in late 2025. The acquisition follows recent news that Capricorn CEO Paul Criddle has stepped aside after being charged with aggravated assault; Executive Chairman Mark Clark is continuing in a full-time leadership role.
