| Company Information |
| Address: |
One America Square
London
EC3N 2SG
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Index: |
FTSE Aim All-Share
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| Tel: |
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Sector: |
Mining
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| Fax: |
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| E-Mail: |
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Epic: |
NGL |
| Secretary: |
John Bottomley |
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| Registrar: |
Capita Registrars Huddersfield Ltd
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Updated: |
26/09/2011 |
Company Overview
The Norseman Project, located 725 km east of Perth, Western Australia, is Australia’s longest continuously running gold mining operation. Gold was first found on the Norseman field in 1894 and over the last 65 years it has produced over 5.5 million ounces of gold. The mine is producing at a rate of around 100,000 ounces per annum, sourced from two high-grade narrow-vein underground mines - the Bullen and the Harlequin. Currently, it has a total resource inventory of 1.9 million ounces at a grade of 4.1 g/t, with a reserve inventory of 329,000 ounces at a grade of 8.6 g/t…
Company Strategy
The Company’s strategy is focused on extending the mine life through the conversion of resources into reserves and identifying additional resources. Management aims to increase the reserves at the mine through exploration drilling from the current level of 329,000 ounces to 500,000 to 750,000 ounces within the next two years, thereby providing a mine life of approximately five years. Thereafter, the Company will be seeking to expand the mine life to 10 years.
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