HopgoodGanim on $20 million share placement

Brisbane firm HopgoodGanim has advised the ASX-listed gold producer Norton Gold Fields (NGF) on a private placement of almost 80 million shares to China Precious Metal Resource Holdings (CPM).At…

Lawyers Weekly • 09 March 2010 • Big Law

Brisbane firm HopgoodGanim has advised the ASX-listed gold producer Norton Gold Fields (NGF) on a private placement of almost 80 million shares to China Precious Metal Resource Holdings (CPM).

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At 25 cents per share, the placement raised almost $20 million before costs, and equates to 14.6 per cent of NGF's total capital.

HopgoodGanim lead partner Michelle Muscillo said the placement has strengthened NGF's balance sheet and is indicative of an ongoing appetite for stakes in Australia's resources sector.

"The shares were issued to China Precious Metal Resources Holdings at a 34 per cent premium, which is a great result for Norton Gold Fields," said Muscillo.

"This transaction demonstrates the continuing interest of foreign investors in Australia's resources industry."

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