Northern Star Resources Limited is trading 5.1% down at $17.60 following a sharp two-day selloff after the board rejected a sale proposal from Elliott Investment Management.
- The board formally declined the proposal on June 10, with management stating that the timing is not right for a transaction.
- While broader gold-sector weakness and general market risk sentiment may be contributing to the decline, no other company-specific announcements have been released to explain the move.