Proactive investors Australia
Norton Gold Fields has received Foreign Investment Review Board approval to proceed with its acquisition of Kalgoorlie Mining Company.
The company’s offer of 0.054 Norton shares and 0.054 Norton options for each Kalgoorlie Mining (KMC) share and 0.024 Norton Options for each listed Kalgoorlie Mining option has unanimously recommended by KMC’s board.
Norton currently holds a 84.5% stake in KMC. The company is itself 84% owned by China’s largest gold producer Zijin Mining.
Kalgoorlie Mining’s key asset is the Bullant Gold Project, 65 kilometres northwest of Kalgoorlie, Western Australia, and 28 kilometres west of Norton’s 3.3Mtpa Paddington Operations (with a haulage distance of approximately 40 kilometres).