News: Norton Gold Fields passes 90% in Bullabulling Gold takeover

Norton Gold Fields (ASX:NGF) now holds 90.968% of Bullabulling Gold (ASX:BAB, LON:BGL), as the takeover nears completion.

NGF is acquiring Bullabulling in an off-market takeover, and intends to rely on the compulsory acquisition powers for the remaining shares.

NGF is 82.4% owned by Chinese miner Zijin.

During 2013, Norton Gold produced 172,739 ounces of gold from its open cut and underground operations at Paddington, near Kalgoorlie in Western Australia.

Norton Gold has poured over one million ounces since acquiring the Paddington Operations in 2007.

The company’s growth will come from optimising existing operations and acquiring and developing resources.