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Mantle completes Norton acquisition

4th March 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – ASX-listed Mantle Mining’s $300 000 buy-out of the idled Norton gold mine from Norton Gold Fields has been concluded, the company said on Tuesday.

Following the receipt of all related intellectual property geological and mining data, Mantle now planned to construct a detailed geological and topographical survey model of the mine.

Further, this, along with detailed mine planning, scheduling and costing data would be incorporated into Mantle’s internal scoping study, which would confirm and model “more accurately” the production, profit and loss and cash flow potential of the mine.

“Mining, metallurgical, process and marketing studies are under finalisation and will feed the final version of the scoping study document, as well as mining services contracts and plant and equipment acquisition justifications,” the company said in a statement.

Mantle expected the capital costs of bringing the mine back into production to be less than $1-million.

Edited by Creamer Media Reporter

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