HopgoodGanim has advised ASX-listed Norton Gold Fields on the sale of a mining tenement in Queensland's Bowen Basin to Boardwalk Sienna.
The consideration paid for EPC 1033, which includes the Sienna and Electra coal projects and associated assets, totalled $30 million.
According to HopgoodGanim partner Martin Klapper, who worked with fellow partners Michele Muscillo and Jonathan Fulcher on this transaction, the sale is a great outcome for Norton Gold Fields and its shareholders.
"This sale unlocks substantial value in a non-core asset, giving Norton Gold Fields additional resources to fund other projects in core areas."
Boardwalk Sienna is a subsidiary of Boardwalk Resources, an investment vehicle of coal magnate Nathan Tinkler.
HopgoodGanim also advised Norton Gold Fields on its $20 million capital raising earlier this year.
Contact:
Esther Cohen, Communications Advisor
Tel: 07 3024 0192
