TIDMNGL

RNS Number : 6962T

Norseman Gold PLC

09 December 2011

Norseman Gold plc / Epic: NGL / Index: AIM & ASX / Sector: Mining & Exploration

9 December 2011

Norseman Gold Plc ('Norseman Gold' or 'the Company')

Placing Update

Further to the announcement of 26 October 2011 and the passing of the relevant resolutions at the annual general meeting of the Company held today, Norseman Gold confirms that 138,260,000 new ordinary shares of 1.25 pence each in the Company have been allotted and issued for cash at a price of 5 pence per share and will be admitted to trading on AIM with effect from 12 December 2011.

**ENDS**

For further information visit www.norsemangoldplc.com or contact:

 
 Barry Cahill      Norseman Gold Plc            Tel: +618 9473 2200 
 Guy Wilkes        Ocean Equities Ltd           Tel: 020 7786 4370 
 William Vandyk    Northland Capital Partners   Tel: 020 7796 8800 
  / Rod Venables    Ltd 
 Susie Geliher     St Brides Media & Finance    Tel: 020 7236 1177 
                    Ltd 
 
   E-mail                                                   investors@ngold.com.au

Note to editors:

Norseman Gold plc is an AIM listed and ASX listed Australian gold production company, which acquired the Norseman Gold Project in May 2007, Australia's longest continually running gold operation. The Norseman Gold Project is located in the Eastern Goldfields of Western Australia in the highly prospective Norseman-Wiluna greenstone belt, 725km east of Perth and 186km from Kalgoorlie.

Gold was first found on the Norseman field in 1894 and over the last 65 years, it has produced over 5.5 million ounces of gold. The mine is currently producing from three high-grade narrow-vein underground mines - the Bullen, the Harlequin and the OK Declines and developing the North Royal Open Pit. Currently, it has a total resource inventory of 3.4 million ounces of gold at an average grade of 4.7 g/t.

The tenements cover a 2,360 sq km area centred on the Norseman Township. The landholding comprises 221 tenements consisting of 85 Exploration Licences, 108 Mining Licences, 3 Prospecting Licences, 15 Miscellaneous Licences, 5 Exploration Licence Applications, 3 Prospecting Licence Applications and 1 Mining Lease Application.

The Company's strategy is focused on extending the mine life through the conversion of resources into reserves and identifying additional resources and obtaining additional ore for the operating mill through the development of additional mines. The Company has fifteen advanced resource projects under review of which three have pre-development work being undertaken on them. It is anticipated that at least one, if not all the pre-development projects will develop into mining propositions.

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROIUKOARAAAURAA

Norseman Gold (LSE:NGL)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Norseman Gold Charts.
Norseman Gold (LSE:NGL)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Norseman Gold Charts.