Activist investor Elliott holds over $1 billion stake in Australia’s largest gold miner, pushing for a potential sale or restructuring.
Elliott Investment Management has called for a strategic review of Northern Star Resources Ltd, Australia’s top gold miner, including a possible sale. The hedge fund disclosed a stake exceeding AUS$1 billion ($718 million) in the company, citing undervalued assets in its portfolio.
Northern Star’s shares have faced pressure amid fluctuating gold prices and operational challenges. Elliott’s presentation, “Northern Star Rising,” argues the miner’s world-class assets could unlock greater value under new ownership or restructuring.
No immediate market reaction was specified, but such activist campaigns often precede shareholder votes or board changes.