Norton Gold Fields

CHINESE investment in Australia may have slowed as uncertainty continues about the value of commodities, but it has not stopped.

The board of Norton Gold Fields has approved a $38 million capital investment to move to an owner-operator model at its Paddington gold operation near Kalgoorlie.

Norton Gold Fields has committed $40 million for the development of its Enterprise open pit project, which will be the next base load operation for the company’s Paddington mill near Kalgoorlie.

Chinese-backed miner Norton Gold Fields has opened its $40 million Enterprise base-load mine on the outskirts of Kalgoorlie.

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China-backed Norton Gold Fields has just about wrapped up its all-scrip takeover of Kalgoorlie Mining Company, declaring its bid is now free from all conditions.

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Norton Gold Fields has secured $US25 million in finance from a subsidiary of its major shareholder, China’s Zijin Mining Group.

Norton Gold Fields has cashed in on the state government's new mining rehabilitation fund scheme, securing $21.8 million in environmental bond refunds to date.

Western Australia’s gold sector is rallying against a potential increase in royalty rates, saying such a move would significantly hurt country towns as well as local producers of the precious metal.

The value of mergers and acquisitions in the Western Australian gold sector over the past 12 months has reached close to $650 million, analysis by Business News has found.

Northern Star Resources has confirmed it will enter into a hedging program for almost a third of its forecast gold production over the next 12 months as concerns over price volatility continue to linger across the sector.

Kalgoorlie-based Phoenix Gold has opted for a low cost development option at its Castle Hill project, with plans to commence production using third-party milling capacity rather than build a stand-along project.

McAleese Group has retained a $65 million ore haulage contract at Norton Gold Fields' Kalgoorlie gold operations after a competitive tender process.

Nedlands-based explorer Bullabulling Gold has signalled it will not accept a takeover bid from Norton Gold Fields which values the company at about $24 million, saying the offer does not reflect the value of its assets.

Nedlands-based explorer Bullabulling Gold has advised its shareholders to reject Norton Gold Fields’ increased takeover offer of 8 cents per share to obtain a 30 per cent interest in the company.

Perth exploration firm Excelsior Gold has executed a binding term sheet that will provide a guaranteed long-term milling allocation at Norton Gold Fields’ Paddington Mill.

Norton Gold Fields is poised to succeed in its Bullabulling Gold takeover bid after the Perth explorer begrudgingly accepted the increased takeover offer of 8 cents per share.

Kalgoorlie-based Phoenix Gold has agreed to purchase St Ives Gold Mining Company’s heap leach processing plant near Kambalda for $2 million.

Phoenix Gold has awarded a number of mining contracts for its Kintore West open cut mine for undisclosed amounts, as part of the company’s staged development plan.

Gold developer Norton Gold Fields has taken a stake of 10.8 per cent in Phoenix Gold, but has clarified it has “no present intention to make a takeover offer”.

Perth-based gold producer Norton Gold Fields says it has received a $32.7 million takeover proposal from its majority shareholder Zijin Mining Group.

Phoenix Gold will wrap up mining at its Kintore West project this month and suspend upcoming small mining projects to save money, as it shifts focus to developing its Castle Hill project near Kalgoorlie with joint venture partner Norton Gold Fields.

Jonathan Price has announced his resignation as managing director of Phoenix Gold, in a board shake-up that bumped Dale Rogers up to executive chairman.

Zijin Mining Group has increased its offer to buy all the shares it doesn’t own in Norton Gold Fields to 25 cents a share, boosting the value of the deal to about $41 million.

The tussle for control of Phoenix Gold intensified today after Zijin Mining Group struck a pre-sales agreement with one of the miner's largest shareholders, boosting its interest to 17.9 per cent ahead of announcing a cash takeover bid that values the business at $47 million.

Chinese company Zijin Mining Group has pressed ahead with its unsolicited takeover bid for Phoenix Gold, despite Evolution Mining’s recent on-market acquisitions at a price 20 per cent above that which Zijin is offering.

Investors have welcomed the results of a pre-feasibility study on Carbine Resources’ Mount Morgan gold and copper project, conducted by GR Engineering Services, which found it to be a potentially low-cost and viable operation.

Three fast-growing gold miners have undertaken further expansion moves in Western Australia, with Evolution Mining announcing its intention to make a takeover offer for Phoenix Gold.

Excelsior Gold says a revised ore treatment agreement with Norton Gold Fields will remove an upfront $12.5 million payment for a milling allocation, with the savings to provide flexibility to further develop its Kalgoorlie North gold project.

A new lobby group associated with influential players in the power industry has warned the state government it risks a voter backlash at the 2017 poll if proposed changes to the sector trigger higher prices to households.