Norton Gold Fields (ASX:NGF) now holds 85% of Bullabulling Gold (ASX:BAB, LON:BGL), as the takeover nears completion.
Norton Gold is acquiring Bullabulling in an off-market takeover. Bullabulling’s board recommended the 8c per share offer once acceptances passed 40%.
The company is 82.4% owned by Chinese miner Zijin.
In addition to the Bullabulling takeover, and in line with Norton Gold’s goal to double production in the mid term, a term sheet was recently signed with Excelsior Gold (ASX:EXG) providing a long-term milling allocation at the Paddington Mill.
Norton Gold has poured over one million ounces since acquiring the Paddington Operations in 2007.
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