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Exercise of Options

24th Dec 2010 07:00

RNS Number : 5102Y
Norseman Gold PLC
24 December 2010
 



Norseman Gold plc / Epic: NGL / Index: AIM & ASX / Sector: Mining & Exploration

 

 

Norseman Gold Plc ('Norseman Gold' or 'the Company')

Issue of Shares

 

 

Norseman Gold Plc, the AIM-listed and ASX-listed Australian gold production company, announces that it has today issued 50,000 new ordinary shares of 1.25 pence each in the company in respect of the exercise of options. Application has been made for admission of these shares to trading on AIM with effect from 31 December 2010.

 

Following the exercise of options the total number of Ordinary shares in issue is 197,720,000.

 

 

**ENDS**

 

 

 

For further information visit www.norsemangoldplc.com or contact:

Barry Cahill

Norseman Gold Plc

Tel: +61 (0) 8 9473 2200

E-mail: [email protected]

Guy Wilkes

Ocean Equities Ltd

Tel: +44 (0) 20 7786 4370

Nandita Sahgal

Jeremy Stephenson

Seymour Pierce Ltd

Seymour Pierce ltd

Tel: +44 (0) 20 7107 8000

Tel: +44 (0) 20 7107 8000

Hugo de Salis /

Isabel Crossley

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177

 

 

 

Note to editors:

 

Norseman Gold plc is an AIM listed and ASX listed Australian gold production company, which acquired the Norseman Gold Project in May 2007, Australia's longest continually running gold operation. The Norseman Gold Project is located in the Eastern Goldfields of Western Australia in the highly prospective Norseman-Wiluna greenstone belt, 725km east of Perth and 186km from Kalgoorlie.

 

Gold was first found on the Norseman field in 1894 and over the last 65 years it has produced over 5.5 million oz of gold. The mine is currently producing from two high-grade narrow-vein underground mines - the Bullen and the Harlequin. Currently, it has a total resource inventory of 3.8 million oz of gold at an average grade of 5.3 g/t.

 

The tenements cover a 2,180 sq km area centred on the Norseman Township. The landholding comprises 221 tenements consisting of 16 Exploration Licences, 107 Mining Licences, 64 Prospecting Licences, 15 Miscellaneous Licences, 5 Exploration Licence Applications, 13 Prospecting Licence Applications and 1 Mining Lease Application.

 

The Company's strategy is focused on extending the mine life through the conversion of resources into reserves and identifying additional resources and obtaining additional ore for the operating mill through the development of a third and subsequent mines. The Company has fifteen advanced resource projects under review of which three have pre-development work being undertaken on them. It is anticipated that at least one if not all the pre-development projects will develop into mining propositions.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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