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Notice re: Takeover Offer for Great Central Mines

Document date:  Mon 11 Jan 1999
Published:  Mon 11 Jan 1999 00:00:00
Document No:  120552
Document part:  A
Market Flag:  N

NORMANDY MINING LIMITED                       1999-01-11  ASX-SIGNAL-G

HOMEX - Adelaide                                                      

Yandal Gold Pty Limited - a company owned by Normandy Mining Limited
(49.9 percent) and Edensor Nominees Pty Limited (50.1 percent) - is
offering $1.50 per share in a Part A takeover scheme for all the
shares in Great Central Mines Limited.

The combined Normandy - Edensor shareholding is currently 40.4
nt. The offers for the outstanding 184 million shares are
financed by a special purpose cash facility provided by Chase
Manhattan Bank for a maximum consideration of $276 million.

Offer documents will be mailed to Great Central shareholders before
the end of January 1999. The offers are conditional on minimum
acceptance of 90 percent of shares and 75 percent of shareholders.

A successful offer results in Normandy's effective interest in the
Yandal region assets - the Bronze0
wing, Jundee-Nimary and Wiluna gold
mines and extensive exploration tenement holdings - increasing to 57
percent, ranking the assets second in importance after Kalgoorlie
Operations in Normandy's gold portfolio. Production attributable to
Normandy from the Yandal mines increases to 420,000 ounces per annum,
and share of reserves and resources to 3.5 million ounces and 6.8
million ounces respectively. 

Under Australian Accounting Standards Normandy will not be required
to con0
solidate the balance sheets of either Yandal Gold or Great

This transaction continues Normandy's programme of business
simplification toward larger, lower cost operations.

I G Gould 

Enquiries concerning this report may be directed to:

C G Jackson 
Tel: +61 8 8303 1703 
Fax: +61 8 8303 1994