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Zijin bids for Norton Gold Fields

14th January 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed gold miner Norton Gold Fields has received a takeover offer from its major shareholder, Zijin Mining Group.

Zijin was proposing to acquire all Norton’s remaining shares in a scheme of arrangement, offering shareholders 20c a share in cash.

Norton appointed a committee comprising its independent directors to consider the proposal.

The gold miner last year acquired the Bullabulling gold project, in Western Australia, through a takeover of fellow-listed Bullabulling gold. The company, in November, also acquired the Mt Jewell project, from ASX-listed KalNorth Gold Mines in a deal worth A$1.8-million.

Shares traded at a high of 18.5c apiece on Wednesday, up 28% from the previous closing price of 14.5c a share.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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