UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) June 1, 2000
NORD PACIFIC LIMITED
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(Exact name of registrant as specified in its charter)
New Brunswick, Canada 000-19182 Not Applicable
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(State or Other (Commission (IRS Employer
Jurisdiction of File Number) Identification Number)
Incorporation)
40 Wellington Row, Suite 2100, Scotia Plaza
Saint John, New Brunswick, Canada 87102
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (505)241-5820
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ITEM 2. Acquisition or Disposition of Assets
On June 1, 2000 Nord Pacific Limited (the "Company")
acquired the remaining 50% interest in the Tritton Copper
project, New South Wales, Australia from Straits Resources
Limited. Pursuant to a Sale and Purchase Agreement executed by
the parties on June 1, 2000, the Company paid 1.95 million
(US$1,950,000) dollars on closing, and is required to make 10
installment payments, (US$1,950,000) payable in four equal semi-
annual installments, with the first installment payable December
1, 2000; and (US$1,950,000) payable in six equal annual
installments with the first installment payable twelve months
after commencement of copper production.
Nord will grant to Straits an option to acquire Nord's 40%
interest in the SX-EW equipment used at Girilambone under certain
circumstances intended not to interfere with copper production at
Girilambone for consideration below market value.
The Tritton deposit was part of a 50:50 exploration joint
venture between the Company and Straits on property that
surrounds their jointly owned Girilambone copper mine.
The Company has accepted a preliminary offer of bank
financing to develop the mine. The limited recourse debt
financing from Bank of Western Australia Ltd. ("BankWest") would
consist of a number of debt and credit support instruments
including cash advance facilities of A$35 million (US$20
million); credit facilities for hedging the copper price, the
currency exchange rate and the interest rate; and a credit
facility to cover statutory bonding requirements. The BankWest
financing is conditional on a number of factors, chief among them
satisfactory technical review by BankWest's external independent
engineer, syndication with other banks and completion of formal
documentation. BankWest has provided similar financing for the
Company's nearby Girilambone copper mine.
For information purposes all $ figures referred to in the
exhibits are in Australian unless otherwise noted.
ITEM 7. Financial Statements and Exhibits
(3) Exhibits required to be filed by Item 601 of Regulation S-K:
Item Description
(2) Sale Agreement dated June 1, 2000 between Nord
Pacific Limited, Nord Australex Nominees Pty. Ltd.
and Straits Mining Pty. Ltd.
Attachment A - Option Agreement
Attachment B - Fixed and Floating Charge
Attachment C - Real Property Mortgage
Attachment D - Annexure "A" Mortgage memorandum
(20.1) Press Release of Nord Pacific Limited dated
December 17, 1999
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ITEM 7. Financial Statements and Exhibits - (Continued)
(20.2) Press Release of Nord Pacific Limited dated June 5, 2000
(99.1) Deed of Priority dated June 1, 2000 between Straits
Mining Pty. Ltd., Nord Australex Nominees Pty.
Ltd., Nord Pacific Limited, and Bank of Western
Australia, Ltd.
(99.2) Facilities Access and Usage Agreement dated June 1,
2000 between Nord Australex Nominees Pty. Ltd.,
Nord Pacific Limited, Nord gold Company Limited,
Nord Highlands Mineral Venture-1, Straits Mining
Pty. Ltd., and Girilambone Copper Company Pty. Ltd.
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly authorized.
NORD PACIFIC LIMITED
Date: July 12, 2000 By: /s/ W. Pierce Carson
W. Pierce Carson
President & CEO
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EXHIBIT INDEX
Item Description Page Number
(2) Sale Agreement dated June 1, 2000 between 5-22
Nord Pacific Limited, Nord Australex Nominees
Pty. Ltd. and Straits Mining Pty. Ltd.
Attachment A - Option Agreement 23-30
Attachment B - Fixed and Floating Charge 31-75
Attachment C - Real Property Mortgage 76-117
Attachment D - Annexure "A" Mortgage 118-163
memorandum
(99.1) Deed of Priority dated June 1, 2000 between 164-177
Straits Mining Pty. Ltd., Nord Australex
Nominees Pty. Ltd., Nord Pacific Limited, and
Bank of Western Australia, Ltd.
(99.2) Facilities Access and Usage Agreement dated 178-193
June 1, 2000 between Nord Australex Nominees
Pty. Ltd., Nord Pacific Limited, Nord gold
Company Limited, Nord Highlands Mineral
Venture-1, Straits Mining Pty. Ltd., and
Girilambone Copper Company Pty. Ltd.
(20.1) Press Release of Nord Pacific Limited dated 194-195
December 17, 1999
(20.2) Press Release of Nord Pacific Limited dated 196-197
June 5, 2000