01/10/2008 - 11:28

Norton moves to acquire Bellamel

01/10/2008 - 11:28

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Brisbane-based Norton Gold Fields Ltd will move to acquire the remaining shares in West Perth-based Bellamel Mining Ltd after its friendly takeover offer closed yesterday.

Brisbane-based Norton Gold Fields Ltd will move to acquire the remaining shares in West Perth-based Bellamel Mining Ltd after its friendly takeover offer closed yesterday.

At the close of the offer, launched in late July this year, Norton held a 95.73 per cent interest in Bellamel.

"I am very pleased with the success of the offer. We look forward to welcoming the Bellamel people to our Kalgoorlie team and implementing our plans to deliver benefits to shareholders," Norton chairman Anthony McLellan said.

Norton was offering four of its shares for every five Bellamel shares.

Shares in Bellamel last traded at 15c while Norton was trading at 18c at 13:35 AEST.

Norton operates the Paddington gold mine in Western Australia and claims to be Australia's fourth largest ASX-listed gold producer.

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