Norton reviews future of Bullabulling mine as it gains 75% stake
PERTH (miningweekly.com) – Gold miner Norton Gold Fields has launched a review of the namesake asset of takeover target Bullabulling Gold, warning that the decision to proceed with the mine would depend on the gold price and market conditions.
The review seeks to identify the most effective means of exploring and developing the project, but Norton noted that any decision to progress the Western Australian mine would be subject to economic conditions.
Norton has gained a relevant interest of more than 75% in fellow-listed Bullabulling Gold, prompting the miner to seek a delisting of Bullabulling’s shares from the ASX and the Aim.
Norton had also extended the offer period until September 15, urging the remaining Bullabulling shareholders to accept its 8c-a-share offer.
Norton noted that if the ultimate outcome of the review was to defer or delay a decision to proceed with the advancement of the Bullabulling mine for a “material period of time”, Bullabulling shareholders who elected not to accept the offer should be made aware that such a delay could adversely impact their ability to realise value for their shareholding in the company.
The gold miner also noted that if Norton did not obtain a relevant interest of 90% in Bullabulling shares, and the company was delisted from the ASX and Aim, there would be no liquid market for the sale of Bullabulling shares, and the remaining shareholders would only be able to sell their shares off market.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation