Norton Gold Fields signs up for Phoenix project
PERTH (miningweekly.com) – Gold miner Norton Gold Fields has thrown in its hat with fellow-listed Phoenix Gold, exercising an option to enter into a mine and ore treatment agreement for Phoenix’s Castle Hill Stage 1 project, in Western Australia.
The two companies and their respective subsidiaries entered into an agreement in 2012, under which Phoenix and its subsidiary prepared separate feasibility studies for the Mick Adams-Kiora and Wadi project, which form part of Castle Hill, using information supplied by Norton as to projected operating and capital costs for mining, hauling and processing ore.
The studies assumed an opencut mining operation, using Norton’s fleet of smaller truck and shovels, with ore trucked through existing haulage roads to Norton’s Paddington mill.
All up-front capital development would also be funded by Norton.
The projects were expected to deliver some 142 800 oz of gold and a total revenue of A$199.9-million.
Phoenix reported this week that in accordance with the agreement, the two companies would now proceed to finalise terms for a formal mine and ore sales agreement, with mining to start within three months of the execution of a formal agreement.
“We are pleased that our ongoing discussions with Norton have culminated in this agreement to mine and treat ore from Castle Hill Stage 1,” Phoenix MD Jon Price said.
“The development of Castle Hill Stage 1 with Norton potentially adds a further A$17.5-million to cash at bank over two years,” he added.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation















