News

HopgoodGanim advises Norton Gold Fields on $30 million tenement sale

20 December 2010

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.

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Esther Cohen, Senior Communications Advisor
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