Argonaut is pleased to announce its role in two landmark transactions underpinning the future development of one of Australia’s largest undeveloped gold projects.
Argonaut acted as Financial Advisor to Norton Gold Fields Pty Ltd, a subsidiary of Zijin Mining Group, on the A$167 million sale of the Bullabulling Gold Project to Minerals 260 Limited (ASX: MI6). The deal comprises A$157 million in cash and A$10 million in Minerals 260 shares, with proceeds supporting Norton’s continued growth and operational enhancement in the Kalgoorlie Gold Belt. Argonaut provided strategic advice throughout this complex transaction, reinforcing its capability in executing significant M&A in the resources sector.
In the associated capital raising, Argonaut also acted as Joint Lead Manager to Minerals 260 on its successful A$220 million Public Offer to fund the acquisition. The capital raising will support not only the acquisition but also an extensive program of drilling, feasibility studies, and development to unlock the full potential of the Bullabulling Gold Project, located in Western Australia’s world-class gold district.
These transactions mark a pivotal step for Minerals 260 in its journey toward becoming a leading mid-tier ASX-listed gold company, while also delivering strong value outcomes for Norton Gold Fields. The strong investor support reflects continued confidence in high-quality Australian gold assets amid a favourable market environment.
Congratulations to Vincent Lai and the Norton Gold Fields team, and to Tim Goyder, Luke McFadyen, and the team at Minerals 260. Argonaut’s advisory team for Norton Gold Fields was led by Edward Rigg and Nick McDonough, while the deal team for the Minerals 260 raising included Edward Rigg, Rob Telford, Max Carter-Mazak, and Thomas Brosnan, with ECM syndication directed by Chris Wippl and Digby Gilmour.
