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SUITE 1D, 21 TEDDINGTON ROAD BURSWOOD WA , 6100
P: 08 9473 2222 F: 08 9473 2299
www.norsemangoldplc.com

NORTH ROYAL OPEN PIT

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Australia's oldest continually operating gold mining project, Norseman Gold, appears to have been given a new lease on life as a result of creditors agreeing to its restructuring plans that could see it resume production again in 2013. The last remaining mine at Norseman, the North Royal Open Pit, had been placed on care and maintenance with the mill kept operating by processing tailings only.


Over 70 Years of Continual Gold Mining at Phoenix Road Norseman


The Norseman Project has occasioned much trouble over its 70 years of continuous operation but it always seems to find a way to resurrect itself at the last moment to once again rise to the occasion when needed to do so the most. It must be no mistake that the road leading to the North Royal Open Pit Mine in Norseman, Western Australia, is known as Phoenix Road.


North Royal Open Pit Given the Green Light to Resume Mining


Creditors have recently given Norseman Gold PLC, the owners of the North Royal Open Pit, the approval they needed to allow Central Norseman Gold Corporation (CNGC), the company operating project, to go ahead with necessary restructuring to get the operation back in the black. In October 2012, Norseman Gold had placed the operation under voluntary administration following production and cash problems resulting in its shares being suspended.


No Changes to be Made to Management


CNGC's major shareholders, Tulla Resources and Norseman Gold PLC had proposed a deal whereby CNGC could return to gold production with no change being made to its management or control and share trading could once again be resumed.
While under the control of an administrator the mine had continued operating by milling tailings while placing the North Royal Open Pit in care and maintenance. All relevant tenements had been fully maintained.


North Royal Open Pit is the Only Current Mine Operating at the Norseman Project


The Norseman Gold Project, of which North Royal Open Pit is its only currently active mine, has produced more than 5.5 million ounces of gold over the last 70 years. The project covers an area of 2,360 square kilometres and is located in the highly mineralised area comprising the Norseman-Wiluna green-stone belt that makes up the southern extreme of the rich Eastern Goldfields of Western Australia. It is fully managed and operated by Tulla Resources Group Pty Ltd.
Other mines, besides the North Royal Open Pit, that make up the Norseman Project, include the Crown, Bullen, OK and Harlequin mines. None of these mines are 'mined out' and could be brought back into production again in the future. The sole operating mine, North Royal Open Pit, feeds its ore into the nearby Phoenix Gold Processing Plant that uses conventional processing methods, including carbon-in-leach technology. The mill is capable of handling 720,000 tonnes of gold bearing ore a year.
The potential of the Norseman Project was best demonstrated in 2009 when it produced around 80,000 ounces of gold. Exploration is currently being undertaken with the intention of extending the life of the North Royal Open Pit as well as increasing resources generally throughout the tenement area. Tulla Resources is planning on producing 100,000 ounces of gold a year by 2014 while increasing its resource base which currently stands at 3.4 million ounces of gold with an average grading of 4.7 grams
a tonne.

Norseman Gold

Norseman Gold owns the Norseman- Wiluna mining operation, located in the Eastern Goldfields of Western Australia. This operation has produced over 5.5 million ounces of gold over a period of 70 years and spans over 2,360 sq km of land.Other projects include Harlequin Decline, located 9 km north of...........read more

ADDRESS

Norseman Gold
Suite 1D, 21 Teddington Road
Burswood, WA 6100

PO Box 56
Norseman, WA 6443

OTHER INFO

Phone08 9473 2222
fax08 9473 2299

View Norseman Gold Page

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NORTH ROYAL OPEN PIT

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Tulla Resources has a contract role at north-royal-open-pit

The Tulla Group was founded in the early 1990’s and is an Australian owned investment group based in Sydney, New South Wales. The company concentrated on the small to medium market listed companies, venture capital, private equity and debt.We are proud of our reputation that has been built on ...Read More

ADDRESS

Tulla Resources
Suite 3, Level 29, 1 Farrer Place
Sydney, NSW 2000

PO Box R233
Royal Exchange, NSW 1225

OTHER INFO

Phone02 9255 9300
fax02 9255 9399

More info about Tulla Resources

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