Bullabulling Gold Limited UPDATE ON THE NORTON TAKEOVER OFFER (5614J)
13 6월 2014 - 3:16PM
UK Regulatory
TIDMBGL
RNS Number : 5614J
Bullabulling Gold Limited
13 June 2014
13 June 2014 ASX Code: BAB, AIM Code: BGL
UPDATE ON THE STATUS OF THE NORTON TAKEOVER OFFER
THE DIRECTORS CONTINUE TO RECOMMEND THAT YOU REJECT THE OFFER BY
TAKING NO ACTION
Bullabulling Gold Limited ("Bullabulling" or "the Company")
notes that, in the absence of a further extension, Norton Gold
Fields Limited's ("Norton") takeover offer for all of the shares in
the Company ("the Offer") is now scheduled to close at 5.00pm AWST
/ 10.00am BST on Monday 16 June 2014.
The directors note that Norton has not made a "last and final
statement" as to whether it intends to extend the Offer beyond this
date, and as such Norton can further extend the Offer period at any
time prior to the current scheduled close.
On 4 June 2014, Norton announced that it had voting power of
15.9% in Bullabulling - this includes the 2.5% previously held by
its associated entity Gold Mountains (H.K.) International Mining
Company Limited. Based on its announcements, it appears that Norton
has also bought approximately 2.2% of Bullabulling's shares on
market. On this basis, Norton has only received acceptances from
non-associated holders in respect of approximately 11.2% of
Bullabulling's shares since the Offer opened 6 weeks ago.
The Board of Bullabulling continues to consider that the Offer
is INADEQUATE and OPPORTUNISTIC and unanimously recommends that all
Bullabulling shareholders REJECT the Offer by TAKING NO ACTION.
For information, contact:
Brett Lambert Darren Martin
Managing Director Executive Director
Bullabulling Gold Limited Gresham Advisory Partners
Tel: +61 8 9386 4086 +61 8 9486 7077
brett.lambert@bullabullinggold.com dmartin@gresham.com.au
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Westhouse Securities Limited John Gardner / Rupert Dearden
(UK Broker & Nominated Adviser) MAGNUS Investor Relations. Corporate
Martin Davison / Dominic Palmer-Tomkinson Communication. (Australian Media)
/ Hugo Rubinstein Tel: +61 8 6160 4900
Tel: +44 20 7601 6100 jgardner@magnus.net.au rdearden@magnus.net.au
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About Bullabulling Gold Limited
Bullabulling Gold Limited is listed on the Australian Securities
Exchange (ASX:BAB) and London's AIM Market (AIM:BGL) and has
approximately 350 million shares on issue. The Company's primary
asset is the wholly owned Bullabulling Gold Project, located 60
kilometres west of Kalgoorlie in Western Australia.
The Bullabulling Gold Project hosts estimated Mineral Resources
of 3.75 million ounces comprising Indicated Resources of 72.4
million tonnes at 0.98 g/t gold (2.28 million ounces) and Inferred
Resources of 41.6 million tonnes at 1.11 g/t gold (1.47 million
ounces). Exploration has demonstrated strong potential for further
expansion of the resource base.
The Bullabulling deposit is amenable to bulk tonnage open pit
mining and conventional CIL processing. All resources are situated
on granted Mining Leases in close proximity to infrastructure.
The Company is conducting a definitive feasibility study into
the development of a large scale, low cost mining operation at
Bullabulling, scheduled for completion in Q1 2015.
Competent Person Statement
The information in this report that relates to the Exploration
Results, Mineral Resources or Ore Reserves is based upon, and
fairly represents, information and supporting documentation
compiled by Mr Trevor Pilcher, who is a full time employee of the
Company and is a member of The Australasian Institute of Mining and
Metallurgy. Mr Pilcher has sufficient experience relevant to the
style of mineralisation and type of deposit under consideration and
the activity in which he is undertaking to qualify as a Competent
Person under 2012 Edition of the Australasian Code for Reporting
Exploration Results, Mineral Resources and Ore Reserves (JORC
Code). Mr Pilcher consents to the inclusion in this report of the
matters based on his information in the form and context in which
it appears.
The information in this report that relates to the Exploration
Results, Mineral Resources or Ore Reserves was prepared and first
disclosed under the JORC Code 2004. It has not been updated since
to comply with the JORC Code 2012 on the basis that the information
has not materially changed since it was last reported.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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