Deals

Perth-based explorer Tesoro Resources will begin trading on the Australian Securities Exchange tomorrow after completing a backdoor listing, an outcome that's been increasingly rare of late.

Perth-based explorers Technology Metals and Artemis Resources have each raised $2.1 million through share placements, while South Australian company Twenty Seven Co is seeking to raise $1.6 million to explore its tenements in Western Australia’s Goldfields region.

Biotech company Zelira Therapeutics has received commitments to raise around $4.6 million from a share placement, while rent.com.au is planning an underwritten $2.9 million rights issue.

Rio Tinto and Telstra have announced shorter payment terms for small and medium Australian businesses, whereby SMEs will be paid within 20 days of a valid invoice receipt.

A summary of the smaller deals from last week, which may not have been included in our daily news coverage.

Dunsborough-based Nauti-Craft has taken a notable step toward commercialising its marine suspension technology in global markets after signing an agreement with Yanmar Shipbuilding & Engineering Co.

Saracen Mineral Holdings has sold its 10.5 per cent interest in Red 5 for $39 million, completed through a book build process at 30 cents per share prior to the ASX market open today.

Rio Tinto has confirmed it will proceed with the next phase of its exploration joint venture at the Citadel copper-gold project, located in the Pilbara's Paterson province, but has extended the time it has to spend $14 million from three years to five years.

Emeco Holdings has expanded its service offering after signing a $72 million agreement to acquire Australian underground mining equipment and services provider, Pit N Portal.

Barrick Gold has resolved a three-year tax dispute with the Tanzanian government, which has lifted a ban on minerals exports, potentially providing a pathway to production for a contingent of Western Australia-headquartered miners and exploration firms.

A summary of the smaller deals from last week, which did not get included in our daily news coverage.

Wearable tech company Nuheara has secured $2.5 million from a New York-based institutional fund manager to support the commercialisation of its recently-released hearing device.

88 Energy has received commitments to raise $5 million through a share placement to fund the evaluation of the company’s assets in Alaska, including the Charlie-1 appraisal well.

Perth-based Castile Resources and Kaiser Reef are set to raise up to $25 million ahead of stock market listings next month, despite tough market conditions affecting a number of ASX aspirants.

Gold explorer Emerald Resources is seeking to raise $75 million through a share placement to develop its Okvau project in Cambodia, while also finalising a $US60 million ($A88 million) loan with Sprott Private Wealth.

Subiaco-based Carbine Resources has signed an agreement to purchase Cockatoo Iron in a scrip deal worth $12 million.

Deloitte has acquired Perth-founded Global IO, which will join the company’s consulting practices in Australia, Canada and Chile.

Resolute Mining has agreed to repay all amounts outstanding under a $US130 million loan agreement with Taurus Funds Management, which it said would be funded by an equity raising.

Perth-founded Automic Group has become Australia’s third-largest share registry after acquiring its competitor, Security Transfer Australia (STA).

Azure Capital, Canaccord Genuity and DLA Piper were among the most active advisers on corporate finance deals in 2019.

A summary of the smaller deals from last week, which did not get included in our daily news coverage.

Bruce Rock Engineering has increased the number of its facilities in Western Australia with the acquisition of Geraldton-based D-Trans Motor Body Builders.

National childcare provider Insight Early Learning has formed a partnership with Fremantle Football Club, placing physical health and wellbeing at the forefront of a new childcare operation known as Freo Kids.

GR Engineering Services has entered an agreement to acquire Arizona-based Hanlon Engineering & Associates, which has 40 staff.

Junior gold miner Kalamazoo Resources has announced an $8 million placement to billionaire investor Eric Sprott and his Canada-listed company, Novo Resources Corporation.

Perth-based Resolute Mining has finalised the sale of its Ravenswood gold project in Queensland to a private equity and mining consortium for up to $300 million.

Nickel miner Panoramic Resources has reported a 72 per cent take-up by shareholders for the retail component of its underwritten $32.7 million entitlement offer, helped by support from major shareholder Zeta Resources.

A summary of the smaller deals from last week, which did not get included in our daily news coverage.

Tech company Elsight has received commitments to raise $2.9 million from a share placement to Hong Kong-based investors, with the proceeds being used to fast-track sales of its flagship communications platform.

Virtual reality software firm Vection Technologies has signed a $500,000 deal to create modules for training students and dentists in dental procedures.

Gulf Manganese Corporation has secured further funding for the construction of two smelting hubs in Indonesia, with €52 million ($A84 million) expected to be received later this month.

Mineral Commodities will move to 90 per cent ownership of the Munglinup graphite project in Western Australia after striking a deal worth $9.8 million with joint venture partner Gold Terrace. It comes after completion of a definitive feasibility study that put a $US61 million cost on the project.