viewProactive Group

Norton Gold Fields makes conditional increase in offer for Bullabulling Gold


Norton Gold Fields (ASX:NGF) has conditionally increased its takeover offer for Bullabulling Gold (ASX:BAB, LON:BGL) to 8c per share from 7c.

The new offer will kick in if Chinese-owned Norton obtains a relevant interest in 30% or more by close of trading on June 30, otherwise the original 7c will continue to apply.

Norton said it will not increase the offer price any further. It currently has a relevant interest of about 16% in Bullabulling.

The directors of Bullabulling repeatedly rejected the initial 7c offer, which they said was well below the true worth of its flagship gold project in Western Australia.

In a statement in May, the company said: “The board is confident that, after the infill drilling programme has been completed, the majority of the current resource will be converted to a substantial maiden mining reserve.”

Norton also extended the closing date for its offer to 16 July.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Fertoz continues to plan for the future despite extremely...

Fertoz Ltd (ASX: FTZ) Executive Chairman Patrick Avery joined Steve Darling from Proactive Vancouver on Skype to discuss what has been a very tough weather year for the company. Even with that, Avery says the company has been very busy this year signing a number of distribution...

1 day, 18 hours ago

2 min read