Norton Gold Fields eyes Kalgoorlie Mines takeover
PERTH (miningweekly.com) – Reports have emerged that ASX-listed Norton Gold Fields was planning to launch a takeover offer for fellow-listed Kalgoorlie Mining.
Both companies went into a trading halt on Tuesday, with both companies expected to resume share trading on April 18.
Kalgoorlie Mining owns and operates the Bullant gold project, in Western Australia, where operations were suspended in February 2012, after the mine missed production targets and reported high processing costs.
In January this year, Kalgoorlie Mining signed an ore processing agreement with Norton Gold Fields to sell up to 280 000 t of ore from the Bullant mine, to process through Norton’s Paddington processing facility.
Deliveries were set to start this month, and would continue until the end of 2014.
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