Norseman Gold Plc operates Australia’s longest continuously running gold mining operation, which has produced over 5.5 million ounces of gold over a period of more than 65 years from the Norseman field in Western Australia.
In addition to the two producing high-grade underground gold mines, the Company has a portfolio of highly perspective, advanced exploration targets to support continued future production. The Company has a strong management team with extensive experience in the resource, as well as considerable knowledge in corporate and strategic planning, acquisitions and finance.
06/02/12
Update01/02/12
Suspension on ASX30/01/12
Trading Halt on ASX22/12/11
Company Update20/12/11
Holding(s) in Company
26/10/11
Norseman Gold said this morning it is raising £12 million in total via a placing of shares and convertible loan notes. The AIM and ASX-listed gold miner said the new funds will provide the working capital required until the North Royal open pit turns cashflow positive.
06/09/11
House broker Seymour Pierce believes that Norseman Gold is significantly undervalued despite the company’s management reducing its production guidance
24/08/10
Another reserves upgrade from Norseman, yet the share price fails to reflect the gold in the ground, says Seymour Pierce's mining guru Asa Bridle.
01/09/09
The increase in revenues was due to a 4.6% improvement in gold output from its principal asset Norseman Gold Project in Australia to 80,753 ounces
20/07/09
Norseman released more upbeat news for investors - a new reef at Harlequin has been identified with high grade gold intercepts received from underground drilling results.
06/02/12
Norseman Gold says talks with potential strategic partner ongoing30/01/12
Norseman Gold requests trading halt on ASX, shares jump 14.5pct in London22/12/11
Norseman Gold in talks with potential strategic partner, reaches target ore at North Royal pit15/12/11
Norseman Gold shareholder Au Mining raises stake09/12/11
Norseman Gold: North Royal open pit remains key, says Ocean Equities
22/12/2010
04/10/2010
30/09/2010
09/10/2009
The Norseman Project lies at the southern extent of the Norseman-Wiluna Greenstone Belt of the Eastern Goldfields Province of the Yilgarn Block, Western Australia. Gold was first discovered at Norseman in 1894 following discoveries at Dundas, 22km to the south, in 1892.
The majority of production has come from the Mararoa-Crown reefs and North Royal reefs totalling in excess of 5.5 million ounces to June 2008. Gold has principally been mined from narrow, broadly north-south striking, east-dipping quartz veins hosted by biotite-altered and sheared mafic andultramafic rocks of the Woolyeenyer Formation. Cross-link structures, such as the quartz reef mined from the Bullen ore body, strike approximately WNW to ENE and dip steeply towards the south arealso important ore sources. Minor mineralisation occurs as sulphidation systems within the upper banded-iron units of the Noganyer Formation.
Besides gold mineralisation, the Norseman Project also holds magnetite iron ore potential. The Company holdings include the Fraser Range Projects located some 120km south-east of Norseman.
RESOURCES AND RESERVES
A JORC compliant Mineral Resource has been stated for the Norseman deposits current at 31 March 2010. The total resource reported is 21 million tonnes at an average grade of 5.3g/t Au for 3.8 million ounces of contained gold. This comprises 5.4 million tonnes at an average grade of 1.7g/t Au of Measured Resource, 5.8 million tonnes at an average grade of 5.9 g/t Au of Indicated Resource and 10.0 million tonnes at an average grade of 7.5g/t Au of Inferred Resource.
The total resource is comprised of 34 deposits plus the stockpiles. The most significant underground deposits, in terms of contribution to the Ore Reserves, are located in the Main Fields and the Harlequin regions of the mining camp. The Main Fields region deposits can potentially be accessed from the Bullen Decline. The Harlequin Decline provides access to the Harlequin deposits. (Read More)
EXPLORATION & MINING
Tenure
As at October 2010 the Company had mineral tenure over an area in excess of 2,180 km2 incorporating 202 granted tenements in Western Australia. Most of the Norseman Gold Project tenure covers particularly prospective greenstone terrain, as shown on the following diagram. (Read More)
PRODUCTION & MINING
Mining Methods
The key characteristics of the Norseman orebodies that govern mining method selection are typically:
With these characteristics, selective mining methods are required, with the mining methods in use at Norseman consisting of:
The Board
Vincent Pendal - Chairman
Barry Cahill - Chief Executive Officer
Michael de Villiers - Non Executive Director
Gary Steinepreis - Non Executive Director
Peter Bilbe - Non Executive Director
Key Management
Kelvin May - Chief Financial Office and Company Secretary
Don Harper - Chief Operating Officer
Russell McBeath - Principal Mining Engineer
Michael Reed - Principal Metallurgist
David Thomas - Exploration Manager
Nominated Adviser and Joint Broker
Seymour Pierce Limited
20 Old Bailey
London EC4M 7EN
Joint Broker
Ocean Equities Ltd
3 Copthall Avenue
London EC2R 7BH
Registrars
Capita Registrars
Northern House
Woodsome Park
Fenay Bridge
Huddersfield HD8 0LA
Computershare Limited
Level 2
45 St Georges Terrace
Perth WA 6000
Financial Public Relations
St Brides Media & Finance Ltd
10-15 Queens Street
London EC4N 1TX
Suite 1D
21 Teddington Road
Burswood WA 6100
Australia
Tel: + 61 8 9473 2222
Fax: + 61 8 9473 2299
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