Deals

Mungana Goldmines has told its shareholders to reject a 13.5 cents a share takeover offer from Auctus Chillagoe, an entity led by former Karara Mining boss Steve Murdoch, saying it undervalues the company and its assets.

Narhex Life Sciences has launched a $4 million capital raising to support development of a phone app that can diagnose illness by analysing the sound of a cough.

The owners of two major iron ore developments in the Pilbara have flagged changes to their timetable and ownership structure respectively, as they seek to deal with the sharp fall in iron ore prices.

Triton Minerals has tapped investors to raise $12 million for ongoing work at its Mozambique graphite project.

The owners of South Perth company Desktop Mapping Systems, led by managing director David Baxter, have agreed to sell the business to ASX-listed Technology One for $12 million in cash.

Jonathan Price has announced his resignation as managing director of Phoenix Gold, in a board shake-up that bumped Dale Rogers up to executive chairman.

Boutique Subiaco-based technology company Velpic has signed a $5.2 million deal to finance international growth plans, as part of a reverse takeover by east coast-based International Coal.

National Australia Bank has launched a massive $5.5 billion capital raising to help it get the jump on regulators and allow it to push ahead with the public float of its troubled UK business.

West Perth-based oil and gas explorer Orca Energy has announced former mining magnate Nathan Tinkler will be its new executive chairman after participating in the company’s $20 million capital raising.

TPG Telecom has quickly won backing from iiNet after lifting its takeover offer to $9.55 per share, with cash and scrip alternatives, as it fends off a rival bid from Dodo owner M2 Group.

Subiaco-based Atrum Coal has signed a deal with a Chinese enterprise that will provide a $US100 million ($A127 million) facility and mining equipment to develop a section of its flagship Groundhog anthracite project in Canada.

Specialist materials technology company Alexium International Group has raised about $8.45 million in a placement to a US private investor to fund development of its fire-retardant chemicals project.

Former gold explorer International Goldfields has become the fourth Western Australian company to move into the cannabis industry, with the acquisition of Uruguayan business Winter Garden Biosciences.

Perth-based Amcom Telecommunications has pushed back its scheme meeting to vote on the Vocus Communications takeover deal by two weeks, after Sydney competitor and Amcom’s major shareholder TPG Telecom yesterday said it would vote against the proposal.

KPMG has acquired West Perth accounting and advisory practice Hayes Knight (WA), saying this will be the first of a series of acquisitions to bolster its private client practice nationally.

Troy Resources has announced a $40 million capital raising to fund exploration and development of its Karouni gold project in Guyana.

Evolution Mining has bought a large stake in a local gold mining company with tenements near La Mancha's mines and processing plant near Kalgoorlie, which Evolution is also buying.

Iluka Resources looks set to snare Irish company Kenmare Resources after proposing a scrip takeover offer valued at $363 million.

Moore Stephens will become the 11th largest accounting firm in Western Australia after striking a merger agreement with the Perth office of UHY Haines Norton.

Minerals Corporation, which in 2013 was one of the first Perth-based mining companies to attempt a backdoor listing, has announced plans to exit the resources sector by acquiring an online music competition business.

Network Ten has warned it is nearing the limits of its $200 million loan and may need to raise more money as it attempts to boost ratings and lagging advertising revenue.

Gold miner Ramelius Resources has signed an agreement to farm-in to Clancy Exploration’s Condobolin project in New South Wales.

The fate of Perth companies iiNet and Amcom Telecommunications rests with Sydney competitor TPG Telecom and its reclusive chairman David Teoh, and possibly with the competition watchdog, after a day of surprises.

Emeco Holdings has entered merger discussions with Queensland-based Orionstone, three weeks after the rival mining equipment supplier proposed a nil-premium merger.

Oil and gas explorer Odin Energy has struck an agreement to acquire a local cannabis and hemp 'aggregator', making it the third WA-based listed company to explore the cannabis sector in recent months.

Shares in resources developer Mungana Goldmines have shot up 33 per cent today after an off-market takeover proposal backed by private equity group Denham Capital.

Corporate and financial communication firms, Citadel PR and Magnus Investor Relations, have entered into an agreement to combine their businesses to form a significant independent national player.

The company behind the reverse takeover of local cloud-based technology company Norwood Systems has raised $5.5 million in an oversubscribed share offer.

Kerry Stokes' Seven West Media is tapping investors for up to $612 million to help it reduce its $1 billion pile of debt.

Shares in internet market target iiNet surged again today to a new intra-day high before closing at around $10 each in line with yesterday's formal bid from M2 Group.

West Perth-based explorer South Boulder Mines has announced another capital raising to fund ongoing work at its Colluli potash project in East Africa.

The receivers who took charge of the Windimurra vanadium project in February have put the trouble-plagued mine up for sale, with Gresham Advisory Partners appointed to find a buyer.