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<title>Nord Pacific 8K</title>



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<p class=MsoNormal align=center style='text-align:center'>&nbsp;</p>



<p class=MsoNormal align=center style='text-align:center'>SECURITIES
AND EXCHANGE COMMISSION</p>



<p class=MsoNormal align=center style='text-align:center'>Washington,
D.C. 20549</p>







<p class=MsoNormal align=center style='text-align:center'>&nbsp;</p>







<p class=MsoNormal align=center style='text-align:center'><b>FORM
8-K<br>
CURRENT
REPORT</b></p>



<p class=MsoNormal align=center style='text-align:center'>Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</p>





<p class=MsoNormal align="center">Date of Report (Date of earliest event
reported):<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; May 5, 2004&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>







<p class=MsoNormal align=center style='text-align:center'><b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
NORD PACIFIC LIMITED&nbsp;&nbsp;&nbsp;</u></b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>(Exact
name of Registrant as specified in its charter)<br>
&nbsp;</p>

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<p class=MsoNormal><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New
Mexico&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></p>

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      <td width="355" height="19" align="center"> <u>&nbsp;
000-19182</u></td>
      <td width="281" height="19" align="center">&nbsp;<u>&nbsp;&nbsp;&nbsp;Not
Applicable&nbsp;&nbsp;&nbsp;</u></td>
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<p class=MsoNormal>(State or other&nbsp;</p>

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      <td width="355" height="16" align="center">(Commission</td>
      <td width="281" height="16" align="center">(I.R.S.
Employer</td>
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<p class=MsoNormal>jurisdiction&nbsp;</p>

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      <td width="355" height="19" align="center">File
Number)</td>
      <td width="281" height="19" align="center">Identification No.)</td>
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<p class=MsoNormal>of incorporation)</p>





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<p class=MsoNormal align=center style='text-align:center'><u>&nbsp;&nbsp;
2727 San Pedro, NE #116, Albuquerque, NM&nbsp;&nbsp;&nbsp;&nbsp; 87110&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>(Address
of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; (Zip Code)</p>



<p class=MsoNormal>Registrant's telephone number:&nbsp; (506) 633-3800</p>



















<p class=MsoNormal align=center style='text-align:center'>Total
pages:<u>&nbsp;&nbsp;&nbsp; 2&nbsp;&nbsp;&nbsp;<br>
<br>
</u></p>

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<hr color="#000080"><br clear=all style='page-break-before:always'>


<p class=MsoNormal><u>Item 5:&nbsp; Conversion of Loan</u>.</p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
May 5, 2004, Allied Gold Limited (&quot;Allied Gold&quot;) converted additional Series A
and Series B convertible notes into common shares of Nord Pacific Limited
(&quot;Nord Pacific&quot;).</p>



<p class=MsoNormal style='text-align:justify;text-indent:.5in'>On December 20, 2003, concurrent with an arrangement
agreement, Nord Pacific and Allied Gold entered into a credit facility
agreement under which Allied Gold agreed to loan up to $5.4 million ($2.4
million committed and a further $3.0 million at the option of Allied Gold) by
way of convertible notes.&nbsp; The Series A and B notes for the second drawdown in
the amount of $272,227 have now been converted into 3,445,870 shares of Nord
Pacific.&nbsp; Allied Gold is now the largest shareholder of Nord Pacific with 40.3%
of the outstanding common shares, owning a total of 13,998,810 shares.</p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nord
Pacific and Allied Gold are parties to an arrangement agreement under which
Allied Gold are to acquire all of the outstanding shares of Nord Pacific under
a plan of arrangement.&nbsp; Nord Pacific views this conversion as evidence of
Allied Gold's continued commitment to the plan of arrangement.&nbsp; It is also
viewed by Nord Pacific as evidence of Allied Gold's continued commitment to
Nord Pacific's Simberi Mining Joint Venture and the Tabar Exploration Joint
Venture located in Papua New Guinea.</p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As
of May 6, 2004, after the conversion of the notes from the second drawdown,
Nord Pacific has outstanding under the credit facility agreement with Allied
Gold a total of $275,922.&nbsp; Nord Pacific contemplates the need to borrow
additional amounts under the credit facility agreement to continue funding
capital requirements of the joint ventures and ongoing corporate costs.</p>





<p class=MsoNormal style='text-align:justify'>&nbsp;</p>





<p class=MsoNormal align=center style='text-align:center'>SIGNATURES</p>

<p class=MsoBodyText>Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on as its
behalf by the undersigned hereunto duly authorized.</p>

<p class=MsoNormal style='margin-top:0in;margin-bottom:
0in;margin-left:3.0in;margin-bottom:.0001pt'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Nord Pacific Limited&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>
</u>(Registrant)</p>





<p class=MsoNormal style='margin-top:0in;margin-bottom:
0in;margin-left:3.0in;margin-bottom:.0001pt'>&nbsp;</p>





<p class=MsoNormal style='margin-top:0in;margin-right:-9.0pt;margin-bottom:
0in;margin-left:3.0in;margin-bottom:.0001pt'>&nbsp;</p>





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      <td width="251" valign="top">Date:&nbsp; May 5, 2004</td>
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<p class=MsoNormal>By:&nbsp;&nbsp;&nbsp;&nbsp; <u>/s/ Mark R.
Welch&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark R. Welch<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive
Officer</p>

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Nord Pacific 8K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported):
May 5, 2004
NORD PACIFIC LIMITED
(Exact
name of Registrant as specified in its charter)
New
Mexico
000-19182
Not
Applicable
(State or other
(Commission
(I.R.S.
Employer
jurisdiction
File
Number)
Identification No.)
of incorporation)
2727 San Pedro, NE #116, Albuquerque, NM     87110
(Address
of principal executive offices)                (Zip Code)
Registrant's telephone number:  (506) 633-3800
Total
pages:
2
Item 5:  Conversion of Loan
.
On
May 5, 2004, Allied Gold Limited ("Allied Gold") converted additional Series A
and Series B convertible notes into common shares of Nord Pacific Limited
("Nord Pacific").
On December 20, 2003, concurrent with an arrangement
agreement, Nord Pacific and Allied Gold entered into a credit facility
agreement under which Allied Gold agreed to loan up to $5.4 million ($2.4
million committed and a further $3.0 million at the option of Allied Gold) by
way of convertible notes.  The Series A and B notes for the second drawdown in
the amount of $272,227 have now been converted into 3,445,870 shares of Nord
Pacific.  Allied Gold is now the largest shareholder of Nord Pacific with 40.3%
of the outstanding common shares, owning a total of 13,998,810 shares.
Nord
Pacific and Allied Gold are parties to an arrangement agreement under which
Allied Gold are to acquire all of the outstanding shares of Nord Pacific under
a plan of arrangement.  Nord Pacific views this conversion as evidence of
Allied Gold's continued commitment to the plan of arrangement.  It is also
viewed by Nord Pacific as evidence of Allied Gold's continued commitment to
Nord Pacific's Simberi Mining Joint Venture and the Tabar Exploration Joint
Venture located in Papua New Guinea.
As
of May 6, 2004, after the conversion of the notes from the second drawdown,
Nord Pacific has outstanding under the credit facility agreement with Allied
Gold a total of $275,922.  Nord Pacific contemplates the need to borrow
additional amounts under the credit facility agreement to continue funding
capital requirements of the joint ventures and ongoing corporate costs.
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on as its
behalf by the undersigned hereunto duly authorized.
Nord Pacific Limited
(Registrant)
Date:  May 5, 2004
By:
/s/ Mark R.
Welch
Mark R. Welch
President and Chief Executive
Officer