Norseman Gold says restructuring announcement 'soon'
Norseman Gold, the struggling Australian gold producer, says an announcement will be made "soon" on a corporate restructuring.
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".
Norseman operates the the Norseman Gold Project, in the eastern goldfields of Western Australia.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published