15th May 2009 07:35
Norseman Gold plc / Epic: NGL / Index: AIM / Sector: Mining & Exploration
NORSEMAN GOLD PLC
('Norseman Gold' or the 'Company')
Lodgement of a Prospectus in Australia to facilitate dual listing
Norseman Gold, the AIM-listed Australian gold production company, is pleased to announce that it has lodged a Prospectus in Australia to facilitate the dual listing of its shares on the Australian Securities Exchange ("ASX"). The purpose of the dual listing is to increase the shareholder base and to raise Norseman Gold's profile with Australian investors and gold companies alike.
The Offer is for up to 20,000,000 ordinary shares at an issue price of 45 cents to raise up to $9,000,000. The Lead Manager of the Offer is Patersons Securities Limited. The Directors intend to close the Offer by 11 June 2009 or earlier and the anticipated date of commencement of trading on the ASX is 22 June 2009.
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For further information visit www.norsemangoldplc.com or contact:
Note to editors:
Norseman Gold plc is an AIM 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 3.6 million oz of gold at an average grade of 5 g/t.
The tenements cover a 1,614 sq km area centred on the Norseman Township. The landholding comprises 200 contiguous tenements consisting of 18 Exploration Licences, 106 Mining Licences, 61 Prospecting Licences, 15 Miscellaneous Licences, 4 Exploration Licence Applications and 1 Mining Lease Applications.
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 re-treatment of tailings or acquisitions of alternative sources of ore.
Related Shares:
Norseman Gold