video audio interview

http://www.investortv.com.au/video.asp?v=11

Norton Gold Fields Ltd

Tim Prowse CEO
> Norton's strong copper and gold future
Voiceover
Emerging gold mining company Norton Gold Fields is riding high after yet another successful gold pour and a significant boost to its gold recovery rate.

The gold is funding the mining and exploration at Norton, 100 kilometres south of Gladstone, as well as the company’s pipeline of future projects.

Welcoming this 205 ounce gold bar processed at the end of May was Norton’s Chief Executive Officer Tim Prowse.

In the past few months, Tim has employed his hands-on approach to obtain a significant and profitable boost in the gold recovery rate from the ore sent by the mine to be processed at Buka Gold’s plant in Gympie.

Tim Prowse CEO
Back in November we arranged a deal for processing ore between ourselves and Gympie Eldorado Gold.

We put our first processing through the plant in December last year. We milled approximately 2800 tonnes, yielded around 500 ounces of gold and our net recovery rate was around 71 per cent.

We determined we should be getting a 94 per cent recovery through the mill and as such we developed a process with Buka to improve the yields of Norton ore through the plant. As a consequence of the test work, our second run we achieved a 94 per cent recovery, which was right on expectations.

The increase recovery for Norton is obviously dollars in the bank for us. Every percentage increase is all profit. An increase of 20 per cent in recovery to us means an extra 2 grams per tonne of gold which all adds to Norton’s bottom line.

Voiceover
Judging by Norton’s achievements so far, the company looks set to be moving towards a golden future.

Tim Prowse CEO
If somebody was going to ask me why they should invest in Norton I think we look at the three principles of the company.

First of all we’ve got projects which can be developed to be real company makers for Norton Gold Fields. The Norton Gold mine is seen as our stepping stone. It’s a simple project to develop and can develop a sizable cash flow without a large capital investment.

Our second project, the Many Peaks copper mine, has the potential to yield a 10,000 tonne per year copper project which has the potential at current prices to give us an income or gross sales of over 100 million dollars per annum and a substantial profit margin on that.

And then looking to the future, we’ve got the Middlemount coal project which we believe has potential for up to 200 million tonnes of PCI or coking coal and that developed again will give us a sizeable coal mining operation and profits for the company. I believe we’ve a mix of both proven, developing and highly prospective areas.

The other factor is that we’re focused. When you look at the Norton prospectus you don’t see a travel map of Australia or the world. All our projects can fit on a small square of the Australian atlas. We’ve got a geological team that’s based on site.

We’ve got a local mining crew with our own mining equipment and then we’ve got the people. We’ve got a board that can deliver results. They’ve got a track record of taking companies from the small resource to the mid-scale miner and we’ve got the hands-on practical experience to do so.