Norseman Gold says restructuring announcement 'soon'

Norseman Gold, the struggling Australian gold producer, says an announcement will be made "soon" on a corporate restructuring.

The firm announced on December 22nd that it had begun talks with a potential partner over a transaction, those discussions are "continuing".

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Gold was first found on the Norseman field in the 1890s and over the last 65 years, it has produced over 5.5 million ounces of gold.

Currently, it has a total resource inventory of 3.4 million ounces of gold.

The announcement has seen the stock drop 5% this morning. Over the past 12 months Norseman has lost 88% of its value.

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