A company belonging to Monadelphous chair John Rubino has bought $6.7 million worth of shares in WA apartment developer Finbar, adding another link to the pair’s business relationship.
The fitness franchise and east coast property group will move to a Churchill Avenue building that Performance Property’s directors purchased for $4.23 million.
Hastings Technology Metals is hoping to raise up to $110 million to develop its proposed Yangibana rare earths project in Western Australia’s Gascoyne region.
Strike Energy shares slipped 10 per cent after the company announced a $30 million capital raising from institutional and sophisticated investors to progress projects.
Billionaire Andrew Forrest has snapped up Cottesloe’s heritage-listed Le Fanu for $15.6 million after the property spent more than three years on the market.
Jules Pemberton-led NRW Holdings has withdrawn its takeover proposal for fellow WA contractor MACA a day after bidding opponent Thiess increased its front-running offer.
Thiess has tacked an extra $17.4 million on to its current offer to acquire all shares in MACA, with the target’s founding directors now backing an improved proposal of $1.075 per share.
Andrew Forrest’s Wyloo Metals will make its first move into rare earths by backing ASX-listed aspiring producer Hastings Technology Metals for $150 million via a convertible notes arrangement.
An independent expert has deemed Thiess’s $350 million friendly takeover for WA contractor MACA ‘fair and reasonable’, while intentions from rival bidder NRW are still unclear.
MACA has reported a $42.8 million net profit due to a strong pipeline of work across WA’s resources sector, but is providing few details on the status of a much-discussed takeover.
Gold Road Resources has bumped up its stake in De Grey Mining to nearly 20 per cent via Credit Suisse but says a takeover attempt is not on the cards yet.
MACA has told investors that a merger proposal made public by contracting rival NRW yesterday is not superior to an all-cash takeover on the table from Queensland-based Thiess.
NRW Holdings says its $375 million bid for WA’s largest mining services business MACA was rejected despite putting in a higher offer than rival bidder Thiess.
Kalium Lakes has copped a 50 per cent haircut on its share price to raise $22 million in much-needed capital for its Beyondie sulphate of potash project.
Tim Goyder-backed explorer DevEx Resources has raised $17.2 million to bankroll an expanded drilling programme at its Nabarlek uranium project in the Northern Territory.
Two low-key Western Australian business people are set for a windfall outcome if a $1 billion takeover bid for Perth-founded mapping business Nearmap is successful.
Nutrition Systems chief Danny Pavlovich has bought three buildings on Wittenoom Street in East Perth for $1.9 million, where a development did not come to fruition.
West Perth-based junior Evolution Energy Minerals has raised $13 million to fund engineering design work and an updated definitive feasibility study for its graphite project in Tanzania.
The rare earths newcomer is on track to join the local bourse this month after seeking $6 million from investors to firm up the Cowalinya project south-east of Norseman.
Sheffield Resources has inched closer to reaching a final investment decision for its proposed mineral sands project in the Kimberley after lining up a $US110 million loan facility.
Budding rare earths producer Arafura Resources has successfully tapped new and existing investors for $41.5 million for the Nolans project after shares were offered at a generous discount.
