Minerals 260 takes ownership of the Bullabulling Gold Project
HFW has helped Norton Gold Fields Pty Ltd with its divestment of the Bullabulling Gold Project to Minerals 260 for $166.5m.
The sale, which sees Minerals 260 take full ownership of the project, was completed on 3 April. The acquisition was funded with $156.5m in cash consideration and $10m worth of Minerals 260 shares.
“Norton has done an excellent job advancing the Bullabulling Project over the past decade and Minerals 260 now has strong foundations to continue its development into production”, Minerals 260 managing director Luke McFadyen said.
HFW described the Bullabulling project as being among the country’s biggest undeveloped gold mines, with mineral resources estimated at 2.3 million ounces. The project is situated about 25km south of Coolgardie in WA.
Corporate and commercial partner Bryn Davis led the HFW team on the deal. Davis received assistance from legal directors Lili Pan and Tighe Whelan; senior associates Kayla Giudicatti and Loren Harper; registered foreign lawyer Albert Cheung; associate Peter Hiotis; and legal assistant Kirsten Barlow.
Norton is completely owned by gold and copper producer Zijin Mining Group Co., Ltd.
