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<title>NPL 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'><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; December 20, 2003&nbsp;&nbsp;&nbsp;&nbsp;&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</u></b><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>(Exact
name of Registrant as specified in its charter)</p>

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    <td width="509" align="center">



<p class=MsoNormal><u>New Brunswick, Canada</u>&nbsp;</p>

    </td>
    <td width="503" align="center"> <u>&nbsp;
000-19182&nbsp;</u></td>
    <td width="274"> <u>&nbsp;&nbsp;&nbsp;Not
Applicable&nbsp;&nbsp;&nbsp;</u></td>
  </tr>
  <tr>
    <td width="509" align="center">

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp; (State or other</p>

    </td>
    <td width="503" align="center">(Commission&nbsp;</td>
    <td width="274">(I.R.S. Employer</td>
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  <tr>
    <td width="509" align="center">

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; jurisdiction</p>

    </td>
    <td width="503" align="center">File
Number)&nbsp;</td>
    <td width="274">Identification No.)</td>
  </tr>
  <tr>
    <td width="509" align="center">

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp; of incorporation)</p>



    </td>
    <td width="503" align="center">&nbsp;</td>
    <td width="274">&nbsp;</td>
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<p class=MsoNormal align="center">40 Wellington Row, Suite
2100, Scotia Plaza<br>
<u>Saint
John, New Brunswick, Canada&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; E2L
4S3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</u>(Address
of principal executive offices)&nbsp;&nbsp;&nbsp;&nbsp; (Zip Code)</p>



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

















<p class=MsoNormal>&nbsp;</p>

















<p class=MsoNormal>&nbsp;</p>

















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


<p class=MsoNormal><u>Item 4:&nbsp; Changes in Registrant's Certifying
Accountant</u>.</p>



<p class=MsoBodyText2 style='margin-bottom:12.0pt;text-indent:.5in'>On December 4,
2003, pursuant to authorization by our Board of Directors, we engaged Stark
Winter Schenkein &amp; Co., LLP of Denver, Colorado (&quot;SWS&quot;) to serve as our
independent public accountant for the years ending December&nbsp;31, 2002 and
December 31, 2003.</p>

<p class=MsoBodyText2 style='margin-bottom:12.0pt;text-indent:.5in'>During our two
most recent fiscal years ended December&nbsp;31, 2001 and December&nbsp;31,
2002 and the period from January&nbsp;1, 2003 to the date of engaging SWS as
stated above, we did not consult with SWS with respect to the application of
accounting principles to a specified transaction, either completed or proposed,
or the type of audit opinion that might be rendered on our consolidated
financial statements, or any other matters or reportable events described in
Items 304(a)(2)(i) and (ii)&nbsp;of Regulation&nbsp;S-B.</p>

<p class=MsoNormal><u>Item 5.&nbsp; Other Events</u>.</p>



<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>On
December 20, 2003, Nord Pacific Limited (&quot;Nord Pacific&quot;) entered into an
arrangement agreement with Allied Gold Limited (&quot;Allied Gold&quot;) under which
Allied Gold will acquire all of the outstanding shares of Nord Pacific under a
Plan of Arrangement.&nbsp; Concurrently, Nord Pacific and Allied Gold entered into a
Credit Facility Agreement under which Allied Gold agreed to loan up to $5.4
million to Nord Pacific to fund capital requirements of joint ventures and to
fund ongoing corporate costs.&nbsp; On December 22, 2003, Nord Pacific issued a
press release regarding these matters, a copy of which is attached as Exhibit
99 and incorporated herein by reference.&nbsp; Additional information regarding
these transactions is stated below.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>Completion
of the Plan of Arrangement is subject to various conditions.&nbsp; These conditions
include court approval of the arrangement in New Brunswick, regulatory
approvals, approval of the arrangement by the shareholders of both Nord Pacific
and Allied Gold, the continued accuracy of representations and warranties,
Allied Gold's satisfaction with results of its due diligence review of Nord
Pacific and no adverse changes affecting Nord Pacific or its joint ventures.&nbsp;
The arrangement agreement provides that Nord Pacific will seek a court order
approving the arrangement and providing that the arrangement must be approved
by two-thirds of the votes cast by Nord Pacific shareholders and Nord Pacific
option holders, with Nord Pacific shareholders being entitled to one vote for
each Nord Pacific share held and Nord Pacific option holders being entitled to
one vote for each Nord Pacific share issuable pursuant to a Nord Pacific
option.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>The
arrangement agreement also contains covenants on the part of Nord Pacific.&nbsp;
They include not incurring liens or new indebtedness for borrowed money,
conferring with Allied Gold as to operational matters related to the joint
ventures of Nord Pacific, obtaining prior approval of Allied Gold (which
approval will not be unreasonably withheld) for material decisions relating to
those joint ventures and compliance with the credit facility agreement with
Allied Gold.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;' align="center">2</p>



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


</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>The
credit facility agreement allows Nord Pacific to obtain advances from Allied
Gold of up to a maximum of U.S. $5,400,000.&nbsp; Of this amount, Allied Gold has
committed to loan up to U.S. $2,300,000 and may at its option loan up to an
additional U.S. $3,000,000.&nbsp; The credit facility is not a revolving loan.&nbsp; Nord
Pacific may obtain these advances through June 30, 2004.&nbsp; All advances under
the credit facility agreement have a maturity date of December 31, 2005.&nbsp; Nord
Pacific is to pay to Allied Gold a facility fee of U.S. $50,000 on the maturity
date, any accelerated due date of the advances or termination of the committed
or optional financing amounts.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>All
principal of the advances is due on the maturity date.&nbsp; Nord Pacific may not
prepay the principal of the advances except upon termination of the arrangement
agreement in certain circumstances.&nbsp; Interest on the advances is LIBOR plus 2%
per annum, is compounded monthly and is payable on demand or in any event no
later than the maturity date.&nbsp; The principal amount of the notes given for the
advances under the credit facility agreement can be converted by Allied Gold
into shares of Nord Pacific, as described in the attached press release.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>The
obligation of Allied Gold to make each advance is subject to various
conditions, including the continued accuracy of representations and warranties,
no change with a material adverse effect on Nord Pacific, and the arrangement
agreement remaining in full force and effect without a default on the part of
Nord Pacific.&nbsp; The credit facility agreement also contains covenants on the
part of Nord Pacific, including that Nord Pacific will comply with the
arrangement agreement, not incur liens or security interests except permitted
encumbrances, not incur additional indebtedness except permitted debt, not sell
assets, not change its business and maintain a board of directors consisting of
three or four members.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>As
required by Allied Gold, Nord Pacific entered into a new executive employment
agreement with Mark R. Welch, Nord Pacific's President and Chief Executive
Officer.&nbsp; Under the employment agreement, the parties terminated a
previously-existing severance agreement and a previously-existing retirement
benefits agreement between Nord Pacific and Mr. Welch.&nbsp; The employment
agreement sets forth Mr. Welch's monthly salary and his benefit package.&nbsp; The
employment agreement has a term ending December 31, 2004 with possible earlier
termination, including upon one month's written notice by Nord Pacific or Mr.
Welch.&nbsp; If Nord Pacific terminates Mr. Welch's employment for any reason other
than cause, he is to receive a separation package including his base salary for
the period of time remaining in the term of the agreement.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>&nbsp;</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>&nbsp;</p>

<p class=MsoNormal style='margin-bottom:12.0pt;' align="center">3</p>



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


</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>Nord
Resources Corporation and certain directors and management of Nord Pacific have
each signed a support agreement with Allied Gold.&nbsp; A copy of the form of this
agreement is attached as an exhibit to this Report.&nbsp; The agreement provides for
the shareholder to vote all Nord Pacific shares and Nord Pacific options owned
by the shareholder or over which the shareholder exercises control or direction
in favor of the arrangement at the meeting of shareholders called to consider
the arrangement, provided the board of directors of Nord Pacific is then
recommending that the shareholders vote in favor of the arrangement.&nbsp; The shareholder
also agrees, among other things, not to purchase or sell any Nord Pacific
shares or options.&nbsp; The parties to the support agreement and the approximate
number of shares and options of Nord Pacific over which each of them is shown
in the support agreements as having beneficial ownership or the right to
exercise control and direction are:&nbsp; Nord Resources Corporation, 3,697,561
shares and -0- options; Mark R. Welch, 412,800 shares and 94,000 options; John
B. Roberts, 401,000 shares and 32,000 options; Lucile Lansing, 400,000 shares
and 16,000 options; and the Trustee of the Retirement Trust for Mark R. and
Sharon S. Welch, 4,000,000 shares and -0- options; for a total of 8,911,361
shares and 142,000 options.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>In
connection with the arrangement agreement, Nord Pacific and individual
directors settled all litigation with Nord Resources Corporation and associated
parties as described in the attached press release.</p>

<p class=MsoNormal style='margin-bottom:12.0pt;text-indent:.5in'>The
forgoing summary is qualified in its entirety by reference to the text of the
arrangement agreement, credit facility agreement, employment agreement and form
of support agreement, each of which is filed as an exhibit hereto and hereby
incorporated by reference.</p>

<p class=MsoNormal><u>Item 7.&nbsp; Financial Statements and Exhibits</u>.</p>



<p class=MsoNormal style='text-indent:.5in'>The following exhibits
are furnished with this Report.</p>



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:41.4pt;border-collapse:collapse'>
 <tr>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='margin-bottom:6.0pt;text-align:center'><b><i>Exhibit<br>
&nbsp;Number</i></b></p>
  </td>
  <td width=475 valign=top style='width:4.95in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-bottom:6.0pt'><b><i><br>
  Document</i></b></p>
  </td>
 </tr>
 <tr>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='margin-bottom:6.0pt;text-align:center'>10.1</p>
  </td>
  <td width=475 valign=top style='width:4.95in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-bottom:6.0pt'>Arrangement Agreement,
  dated December 20, 2003 between Allied Gold Limited and Nord Pacific Limited.</p>
  </td>
 </tr>
 <tr>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='margin-bottom:6.0pt;text-align:center'>10.2</p>
  </td>
  <td width=475 valign=top style='width:4.95in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-bottom:6.0pt'>Credit Facility
  Agreement, dated December 20, 2003 between Allied Gold Limited and Nord
  Pacific Limited.</p>
  </td>
 </tr>
 <tr>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='margin-bottom:6.0pt;text-align:center'>10.3</p>
  </td>
  <td width=475 valign=top style='width:4.95in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-bottom:6.0pt'>Executive Employment
  Agreement, dated December 17, 2003 between Nord Pacific Limited, Hicor
  Corporation and Mark R. Welch.</p>
  </td>
 </tr>
 <tr>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='margin-bottom:6.0pt;text-align:center'>10.4</p>
  </td>
  <td width=475 valign=top style='width:4.95in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-bottom:6.0pt'>Form of Support
  Agreement, dated December 20, 2003 between Allied Gold Limited and each of Nord Resources Corporation, Mark R. Welch, John B. Robert, Lucile Lansing and
  Trustee of Retirement Trust for the benefit of Mark R. and Sharon S. Welch.</p>
  </td>
 </tr>
 <tr>
  <td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='margin-bottom:6.0pt;text-align:center'>99</p>
  </td>
  <td width=475 valign=top style='width:4.95in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal style='margin-bottom:6.0pt'>Press Release, dated
  December 22, 2003 and issued on December 22, 2003.</p>
  </td>
 </tr>
</table>





<p class="MsoNormal" style="margin-bottom: 6.0pt">&nbsp;</p>
<p class="MsoNormal" style="margin-bottom: 6.0pt" align="center">4</p>

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


<p>&nbsp;</p>


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



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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-right:-9.0pt;margin-bottom:
0in;margin-left:3.5in;margin-bottom:.0001pt'><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nord Pacific
Limited&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; &nbsp;&nbsp;&nbsp;&nbsp;
(Registrant)</p>





<p class=MsoNormal style='margin-right:-9.0pt'>Date:&nbsp; December 23, 2003&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Mark R. Welch<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
President and Chief Executive&nbsp;Officer</p>

<p class=MsoNormal style='margin-right:-9.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>



<p class=MsoNormal style='margin-right:-9.0pt' align="center">&nbsp;</p>



<p class=MsoNormal style='margin-right:-9.0pt' align="center">&nbsp;</p>



<p class=MsoNormal style='margin-right:-9.0pt' align="center">5</p>



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


<p>&nbsp;</p>


<p class=MsoNormal align=center style='text-align:center'><u>EXHIBIT
INDEX</u></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:9.9pt;border-collapse:collapse' height="321">
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'><b><i>Exhibit<br>
  Number</i></b></p>
  </td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt'>

  <p class=MsoNormal><b><i><br>
  Document</i></b></p>
  </td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt'>
  &nbsp;</td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt'>

  <b><i>&nbsp;</i></b></td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="38">
  <p class=MsoNormal align=center style='text-align:center'>10.1</p>
  </td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="38">
  <p class=MsoNormal>Arrangement Agreement, dated December 20, 2003
  between Allied Gold Limited and Nord Pacific Limited.</p>

  </td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="38">
  <p class=MsoNormal align=center style='text-align:center'>10.2</p>
  </td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="38">
  <p class=MsoNormal>Credit Facility Agreement, dated December 20,
  2003 between Allied Gold Limited and Nord Pacific Limited.</p>

  </td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="38">
  <p class=MsoNormal align=center style='text-align:center'>10.3</p>
  </td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="38">
  <p class=MsoNormal>Executive Employment Agreement, dated December
  17, 2003 between Nord Pacific Limited, Hicor Corporation and Mark R. Welch.</p>

  </td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="76">
  <p class=MsoNormal align=center style='margin-bottom:6.0pt;text-align:center'>10.4</p>
  </td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="76">
  <p class=MsoNormal>Form of Support Agreement, dated December 20,
  2003 between Allied Gold Limited and each of Nord Resources Corporation, Mark
  R. Welch, John B. Robert, Lucile Lansing and Trustee of Retirement Trust for
  the benefit of Mark R. and Sharon S. Welch.</p>

  </td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="17">
  &nbsp;</td>
 </tr>
 <tr>
  <td width=114 valign=top style='width:85.5pt;padding:0in 5.4pt 0in 5.4pt' height="19">
  <p class=MsoNormal align=center style='text-align:center'>99</p>
  </td>
  <td width=511 valign=top style='width:383.4pt;padding:0in 5.4pt 0in 5.4pt' height="19">
  <p class=MsoNormal>Press Release, dated December 22, 2003 and
  issued on December 22, 2003.</p>
  </td>
 </tr>
</table>







<p class=MsoNormal>&nbsp;</p>







<p class=MsoNormal>&nbsp;</p>







<p class=MsoNormal>&nbsp;</p>







<p class=MsoNormal align="center">6</p>

</body>

</html>
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{"company-data": {"conformed-name": "NORD PACIFIC LIMITED", "cik": "0000843296", "assigned-sic": "1000", "irs-number": "000000000", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-19182", "film-number": "031071885"}, "business-address": {"street1": "40 WELLINGTON ROW", "street2": "SUITE 2100 SCOTIA PLAZA", "city": "ST JOHN N B CANADA", "state": "A3", "phone": "8092922363"}}
NPL 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):
December 20, 2003
NORD PACIFIC LIMITED
(Exact
name of Registrant as specified in its charter)
New Brunswick, Canada
000-19182
Not
Applicable
(State or other
(Commission
(I.R.S. Employer
jurisdiction
File
Number)
Identification No.)
of incorporation)
40 Wellington Row, Suite
2100, Scotia Plaza
Saint
John, New Brunswick, Canada                    E2L
4S3
(Address
of principal executive offices)     (Zip Code)
Registrant's telephone number:  (506) 633-3800
Item 4:  Changes in Registrant's Certifying
Accountant
.
On December 4,
2003, pursuant to authorization by our Board of Directors, we engaged Stark
Winter Schenkein & Co., LLP of Denver, Colorado ("SWS") to serve as our
independent public accountant for the years ending December 31, 2002 and
December 31, 2003.
During our two
most recent fiscal years ended December 31, 2001 and December 31,
2002 and the period from January 1, 2003 to the date of engaging SWS as
stated above, we did not consult with SWS with respect to the application of
accounting principles to a specified transaction, either completed or proposed,
or the type of audit opinion that might be rendered on our consolidated
financial statements, or any other matters or reportable events described in
Items 304(a)(2)(i) and (ii) of Regulation S-B.
Item 5.  Other Events
.
On
December 20, 2003, Nord Pacific Limited ("Nord Pacific") entered into an
arrangement agreement with Allied Gold Limited ("Allied Gold") under which
Allied Gold will acquire all of the outstanding shares of Nord Pacific under a
Plan of Arrangement.  Concurrently, Nord Pacific and Allied Gold entered into a
Credit Facility Agreement under which Allied Gold agreed to loan up to $5.4
million to Nord Pacific to fund capital requirements of joint ventures and to
fund ongoing corporate costs.  On December 22, 2003, Nord Pacific issued a
press release regarding these matters, a copy of which is attached as Exhibit
99 and incorporated herein by reference.  Additional information regarding
these transactions is stated below.
Completion
of the Plan of Arrangement is subject to various conditions.  These conditions
include court approval of the arrangement in New Brunswick, regulatory
approvals, approval of the arrangement by the shareholders of both Nord Pacific
and Allied Gold, the continued accuracy of representations and warranties,
Allied Gold's satisfaction with results of its due diligence review of Nord
Pacific and no adverse changes affecting Nord Pacific or its joint ventures. 
The arrangement agreement provides that Nord Pacific will seek a court order
approving the arrangement and providing that the arrangement must be approved
by two-thirds of the votes cast by Nord Pacific shareholders and Nord Pacific
option holders, with Nord Pacific shareholders being entitled to one vote for
each Nord Pacific share held and Nord Pacific option holders being entitled to
one vote for each Nord Pacific share issuable pursuant to a Nord Pacific
option.
The
arrangement agreement also contains covenants on the part of Nord Pacific. 
They include not incurring liens or new indebtedness for borrowed money,
conferring with Allied Gold as to operational matters related to the joint
ventures of Nord Pacific, obtaining prior approval of Allied Gold (which
approval will not be unreasonably withheld) for material decisions relating to
those joint ventures and compliance with the credit facility agreement with
Allied Gold.
2
The
credit facility agreement allows Nord Pacific to obtain advances from Allied
Gold of up to a maximum of U.S. $5,400,000.  Of this amount, Allied Gold has
committed to loan up to U.S. $2,300,000 and may at its option loan up to an
additional U.S. $3,000,000.  The credit facility is not a revolving loan.  Nord
Pacific may obtain these advances through June 30, 2004.  All advances under
the credit facility agreement have a maturity date of December 31, 2005.  Nord
Pacific is to pay to Allied Gold a facility fee of U.S. $50,000 on the maturity
date, any accelerated due date of the advances or termination of the committed
or optional financing amounts.
All
principal of the advances is due on the maturity date.  Nord Pacific may not
prepay the principal of the advances except upon termination of the arrangement
agreement in certain circumstances.  Interest on the advances is LIBOR plus 2%
per annum, is compounded monthly and is payable on demand or in any event no
later than the maturity date.  The principal amount of the notes given for the
advances under the credit facility agreement can be converted by Allied Gold
into shares of Nord Pacific, as described in the attached press release.
The
obligation of Allied Gold to make each advance is subject to various
conditions, including the continued accuracy of representations and warranties,
no change with a material adverse effect on Nord Pacific, and the arrangement
agreement remaining in full force and effect without a default on the part of
Nord Pacific.  The credit facility agreement also contains covenants on the
part of Nord Pacific, including that Nord Pacific will comply with the
arrangement agreement, not incur liens or security interests except permitted
encumbrances, not incur additional indebtedness except permitted debt, not sell
assets, not change its business and maintain a board of directors consisting of
three or four members.
As
required by Allied Gold, Nord Pacific entered into a new executive employment
agreement with Mark R. Welch, Nord Pacific's President and Chief Executive
Officer.  Under the employment agreement, the parties terminated a
previously-existing severance agreement and a previously-existing retirement
benefits agreement between Nord Pacific and Mr. Welch.  The employment
agreement sets forth Mr. Welch's monthly salary and his benefit package.  The
employment agreement has a term ending December 31, 2004 with possible earlier
termination, including upon one month's written notice by Nord Pacific or Mr.
Welch.  If Nord Pacific terminates Mr. Welch's employment for any reason other
than cause, he is to receive a separation package including his base salary for
the period of time remaining in the term of the agreement.
3
Nord
Resources Corporation and certain directors and management of Nord Pacific have
each signed a support agreement with Allied Gold.  A copy of the form of this
agreement is attached as an exhibit to this Report.  The agreement provides for
the shareholder to vote all Nord Pacific shares and Nord Pacific options owned
by the shareholder or over which the shareholder exercises control or direction
in favor of the arrangement at the meeting of shareholders called to consider
the arrangement, provided the board of directors of Nord Pacific is then
recommending that the shareholders vote in favor of the arrangement.  The shareholder
also agrees, among other things, not to purchase or sell any Nord Pacific
shares or options.  The parties to the support agreement and the approximate
number of shares and options of Nord Pacific over which each of them is shown
in the support agreements as having beneficial ownership or the right to
exercise control and direction are:  Nord Resources Corporation, 3,697,561
shares and -0- options; Mark R. Welch, 412,800 shares and 94,000 options; John
B. Roberts, 401,000 shares and 32,000 options; Lucile Lansing, 400,000 shares
and 16,000 options; and the Trustee of the Retirement Trust for Mark R. and
Sharon S. Welch, 4,000,000 shares and -0- options; for a total of 8,911,361
shares and 142,000 options.
In
connection with the arrangement agreement, Nord Pacific and individual
directors settled all litigation with Nord Resources Corporation and associated
parties as described in the attached press release.
The
forgoing summary is qualified in its entirety by reference to the text of the
arrangement agreement, credit facility agreement, employment agreement and form
of support agreement, each of which is filed as an exhibit hereto and hereby
incorporated by reference.
Item 7.  Financial Statements and Exhibits
.
The following exhibits
are furnished with this Report.
Exhibit
Number
Document
10.1
Arrangement Agreement,
  dated December 20, 2003 between Allied Gold Limited and Nord Pacific Limited.
10.2
Credit Facility
  Agreement, dated December 20, 2003 between Allied Gold Limited and Nord
  Pacific Limited.
10.3
Executive Employment
  Agreement, dated December 17, 2003 between Nord Pacific Limited, Hicor
  Corporation and Mark R. Welch.
10.4
Form of Support
  Agreement, dated December 20, 2003 between Allied Gold Limited and each of Nord Resources Corporation, Mark R. Welch, John B. Robert, Lucile Lansing and
  Trustee of Retirement Trust for the benefit of Mark R. and Sharon S. Welch.
99
Press Release, dated
  December 22, 2003 and issued on December 22, 2003.
4
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:  December 23, 2003                                    By:
/s/ Mark R. Welch
Mark R. Welch
President and Chief Executive Officer
5
EXHIBIT
INDEX
Exhibit
Number
Document
10.1
Arrangement Agreement, dated December 20, 2003
  between Allied Gold Limited and Nord Pacific Limited.
10.2
Credit Facility Agreement, dated December 20,
  2003 between Allied Gold Limited and Nord Pacific Limited.
10.3
Executive Employment Agreement, dated December
  17, 2003 between Nord Pacific Limited, Hicor Corporation and Mark R. Welch.
10.4
Form of Support Agreement, dated December 20,
  2003 between Allied Gold Limited and each of Nord Resources Corporation, Mark
  R. Welch, John B. Robert, Lucile Lansing and Trustee of Retirement Trust for
  the benefit of Mark R. and Sharon S. Welch.
99
Press Release, dated December 22, 2003 and
  issued on December 22, 2003.
6