NORTON GOLD FIELDS LIMITED 
By 22 November 2012
Norton secures US$105 million credit facility to fund growth Norton Gold Fields Limited (ASX:NGF) ("Norton", or "the Company) is pleased to announce it has secured a US$105 million credit facility through the Perth branch of ICBC (Industrial and Commercial Bank of China Limited). The credit facililty has a term of three years and is secured by a letter of guarantee issued by the Company's major shareholder, Zijin Mining Group Co., Ltd (Zijin).
Norton Managing Director and Chief Executive Officer, Dr Dianmin Chen commented that the facility will be progressively drawn down to fund Norton's CY2013 capital spending requirements at its Paddington Operations, to repay the Company's $38 million Zijin loan, to fund ongoing exploration programs and to explore acquisition opportunities. The entire amount of the loan facility is expected to be drawn down by Q2 of CY2013.
"Zijin is a very supportive major shareholder in Norton. Zijin's support in this facility provides us the platform to grow through exploration and acquisitions, as well as increasing gold production and reducing operating costs."
Summary of the credit facility key terms:
• US$105 million credit facility
• The facility is guaranteed via a US$115 million letter of credit issued by Zijin (Zijin Guarantee)
• The term of the facility is 3 years from initial drawdown
• Fee of 1.2% of the amount of the Zijin Guarantee per annum payable to Zijin for the provision of the guarantee
ENDSFurther information
Dr Dianmin Chen Warrick Hazeldine / Annette Ellis Executive Director Cannings Purple Communications Norton Gold Fields Limited 61 (0) 8 6314 6300 / +61 (0) 417 944 616
+61 (0)7 3846 9200 / +61 (0) 458 200 039 dchen@nortongoldfields.com.au whazeldine@canningspurple.com.au
Norton Gold Fields Limited • 79 Hope Street, South Brisbane, Queensland 4101, Australia •
ABN: 23 112 287 797 • Tel (07) 3846 9200• Fax (07) 3255 0344 • www.nortongoldfields.com.au
|
distributed by
|
