Trading Halt on ASX (2896Q)
October 17 2011 - 4:57AM
UK Regulatory
TIDMNGL
RNS Number : 2896Q
Norseman Gold PLC
17 October 2011
17 October 2011
Norseman Gold Plc
Trading Halt on ASX
Norseman Gold Plc ("Norseman" or "Company") announces that on 13
October 2011, it requested a trading halt of its shares on ASX
until an announcement is made containing a company update, details
of a potential capital raising and the appointment of a new
nominated adviser as required by the AIM Rules for Companies ("AIM
Rules"). Norseman is currently suspended from trading on AIM
following the resignation of its nominated adviser and is in
negotiations with a potential replacement. A further announcement
in relation to the above will be made as soon as possible.
For further information visit www.norsemangoldplc.com or
contact:
Barry Cahill
Norseman Gold Plc Tel: +61 (0) 8 9473 2222
E-mail: investors@ngold.com.au
Guy Wilkes
Ocean Equities Ltd Tel: +44 (0) 20 7786 4370
Hugo de Salis/Isabel Crossley
St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
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 oz of gold. The mine
is currently producing from three high-grade narrow-vein
underground mines - the Bullen, the Harlequin and the OK Decline -
and is also mining the historic North Royal open pit. Currently, it
has a total resource inventory of 3.8 million oz 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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