Norton Gold Fields mulling Zijin takeover bid

Company News

Australian gold producer Norton Gold Fields Limited (ASX:NGF) has advised it is mulling a takeover bid from its majority shareholder Zijin Mining Group Co.
 
The indicative, conditional and non-binding proposal is valued at $0.20 per share, compared to its last closing price of $0.145.  
 
Norton Gold has appointed a committee comprising of independent directors to consider the proposal and intends to make a further announcement as and when required.  
 
The company has cautioned there is no certainty or guarantee the proposal will proceed and shareholders do not need to take any action at this stage. 
 
Norton Gold Fields reported a net profit of $2.44 million in the first half of the 2014 calendar year.