Hot Stocks: Northern Star Resources, DroneShield, Bellevue Gold

April 18, 2025

A look at some of the companies making the news this week.

On 16 April 2025, De Grey Mining (ASX:DEG) announced that its shareholders had overwhelmingly approved the proposed acquisition of the company by Northern Star Resources (ASX:NST) via a court-approved scheme of arrangement. The vote saw 99.64% of shares cast in favour and 89.68% of shareholders supporting the resolution. The final court hearing to approve the scheme is scheduled for 22 April 2025. If granted, the scheme will become effective on 23 April, at which point De Grey shares will be suspended from trading. Full implementation is expected by 5 May, with De Grey to be delisted from the ASX on 6 May and Northern Star shares issued to De Grey shareholders commencing normal trading the same day.

DroneShield (ASX:DRO) has secured five separate, repeat contracts worth a total of $32.2 million from a major Asia Pacific military customer, via an in-country reseller that is a subsidiary of a global listed company. The contracts cover both vehicle-mounted and fixed counterdrone (Counter-UxS) systems, with delivery and payment expected in Q2 and Q3 2025. This follows seven previous contracts with the same reseller, which together totalled $12.3 million. CEO Oleg Vornik highlighted the increasing scale and pace of orders as evidence of a broader shift from hardware testing to wider deployment by leading counterdrone customers.

Bellevue Gold (ASX:BGL) has successfully raised A$156.5 million through an institutional placement, attracting strong demand from both existing and new investors. The funds will be used to close out hedged gold production for the remainder of calendar year 2025, enhancing the company’s exposure to record spot gold prices, and to support general working capital. CEO Darren Stralow said the placement, combined with a revised mine plan and supportive project financing, positions Bellevue to improve production and generate strong free cash flow through FY26. The placement was fully underwritten by Canaccord Genuity, UBS, and Argonaut. Shares are expected to resume trading on 15 April, with new shares settling on 17 April and trading from 22 April.