![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Norseman | LSE:NGL | London | Ordinary Share | GB00B2N7FW85 | ORD 1.25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.575 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNGL
RNS Number : 6908J
Norseman Gold PLC
04 July 2011
Norseman Gold plc / Epic: NGL / Index: AIM & ASX / Sector: Mining & Exploration
Norseman Gold Plc ('Norseman Gold' or 'the Company')
Norseman Gold Closes A$15 Million Working Capital Facility Agreement With Exp T1 Ltd, A Member Of The Red Kite Group
Norseman Gold, the AIM-listed and ASX-listed Australian gold production company is pleased to announce the closing of a secured working capital facility agreement with EXP T1 Ltd, a subsidiary of RK Mine Finance Trust 1, a member of the Red Kite group of funds('Red Kite').
Under the facility agreement, Red Kite will provide up to A$15 million of working capital to Central Norseman Gold Corporation Limited ('CNGC'), Norseman Gold's wholly owned subsidiary, with interest payable at LIBOR plus 6%, maturing on 1 July 2013 or earlier, if repaid in full. As part of this agreement Norseman Gold has paid an origination fee of 2% and issued 3,000,000 warrants to Red Kite. Each warrant is exercisable for one ordinary share of Norseman Gold at 30 pence per ordinary share for a period of two years.
**ENDS**
For further information visit www.norsemangoldplc.com or contact:
Barry Cahill Norseman Gold Plc Tel: +61 (0) 8 9473 2200 Guy Wilkes Ocean Equities Ltd Tel: +44 (0)20 7786 4370 -------------------------- -------------------- Nandita Sahgal Seymour Pierce Ltd Tel: +44 (0)20 7107 8000 -------------------------- -------------------- Jeremy Stephenson Seymour Pierce Ltd Tel: +44 (0)20 7107 8000 -------------------------- -------------------- Hugo de Salis St Brides Media & Finance Tel: +44 (0)20 7236 Ltd 1177 -------------------------- -------------------- E-mail investors@ngold.com.au -------------------------- --------------------
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 ounces of gold. The mine is currently producing from three high-grade narrow-vein underground mines - the Bullen, the Harlequin and the OK Declines and developing the North Royal Open Pit. Currently, it has a total resource inventory of 3.8 million ounces 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 additional 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.
About RK Mine Finance Trust 1
RK Mine Finance provides mining companies with financing and metal off-take agreements for initiation or expansion of mine production. Red Kite operates across the global metals industry from offices in Bermuda, Denver, Hong Kong, London, New York, Shanghai and Sydney.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUSVWRAWABRRR
1 Year Norseman Gold Chart |
1 Month Norseman Gold Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions