Paddington Gold Mine owner Norton Gold Fields, has upped the ante in its bid to take over Bullabulling Gold.
With a shareholding greater than 75% in Bullabulling Gold, Norton are now able to progress the delisting of the company from the ASX and AIM. Any remaining Bullabulling shareholders refusing to accept the 8c per share offer will lose the opportunity to sell on market if the company is delisted.
Norton have also signalled they will need to assess the development of the Bullabulling Gold asset west of Coolgardie and that it may not happen quickly.
This would further limit the ability of minority shareholders to receive a benefit from the project in the short term.
