Zijin bids for Norton Gold Fields
14TH JANUARY 2015
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 Nortons remaining shares in a scheme of arrangement, offering shareholders 20c a share in cash.
Norton has 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.