Deals

Saracen Mineral Holdings confirmed today it has agreed to buy a 50 per cent stake in Kalgoorlie’s famous Super Pit gold mine with managing director Raleigh Finlayson saying the asset has already delivered positive surprises.

Rio Tinto said it will subscribe to $326 million rights shares of Energy Resources of Australia, which has been desperately seeking funds to close and rehabilitate the controversial Ranger uranium mine.

West Perth-based Talga Resources is seeking to raise $6.25 million through a share placement and purchase plan, primarily to fund the development of its graphite project in Sweden.

Biotech company Phylogica announced it had increased its shareholding in Vision Pharma to 90 per cent, following a $15 million investment using funds it had raised through a recent rights issue.

Engineering company Monadelphous has entered the Chilean market with the acquisition of two jointly-owned mining services providers, Buildtek and Maqrent.

Fortescue Metals Group has agreed to a $6 million farm-in with Carawine Resources to explore its Paterson project in Western Australia, and a $2 million farm-in with Reward Minerals to explore its potash tenements in the McKay range.

Junior gold explorer Breaker Resources has agreed to a non-brokered $8 million placement to a private equity fund managed by New York-based Electrum Group, with the proceeds to fund drilling activities at Breaker’s Lake Roe mine in Western Australia.

Perth-based WestStar Industrial has increased its service capabilities with the acquisition of oil and gas-focused steel fabricator Alltype Engineering.

Venus Metals Corporation has entered into an underwriting agreement with Ord Minnett to exercise $5.7 million worth of options to progress exploration activities at its base metal projects in Western Australia.

Panoramic Resources has advised shareholders not to take action in respect of the off-market takeover offer launched last week by Independence Group, while also criticising some of the conditions attached to the offer.

Lithium explorer AVZ Minerals has announced it would raise $14.1 million to a new strategic investor based in China.

West Perth-based Sky and Space Global has revised its previously announced plans for a $15 million capital raising, with the funds to be raised through a placement and rights issue at 0.5 cents per share.

Perth bodybuilder Danny Pavlovich is planning a stock market listing of his business Nutrition Systems, which has quietly grown to become one of Australia's leading suppliers of supplements with annual sales of $50 million.

West Perth-based APM has been forced to lift the value of its takeover offer for Konekt by 30 per cent after a competing bidder lodged a proposal for the ASX-listed health solutions provider.

Three Western Australian companies led by experienced mining executives are hoping to defy the slump in new stock market listings by launching initial public offerings over the past week.

Subiaco-based Pointerra has announced commitments to raise $2.5 million through a share placement, primarily to fund the recruitment of further employees and technical resources.

Civil and mining contractor NRW Holdings today confirmed it has been selected as the preferred bidder for BGC Contracting.

Independence Group is planning to take advantage of nickel miner Panoramic Resources’ operational issues and boardroom changes by launching a hostile scrip takeover bid.

Silver Lake Resources has substantially improved the terms of its scrip takeover bid for EganStreet Resources, which disclosed today it had been approached by Adaman Resources with a competing cash offer.

A new sponsorship deal between Canon Foods and Perth Scorchers women’s cricket team ticked a number of boxes for Canon principal Arthur Abrahams.

Oil and gas explorer Strike Energy announced today it has raised $30 million through a share placement and is seeking an additional $5 million through a share purchase plan, primarily to fund the company’s exploration and appraisal programs in the Perth Basin.

A recycling and waste management business led by Bob McKinnon and Tom Rudas has kicked off plans for a stock market listing, with the company hoping to “supercharge” its growth and turn recent loss

Biotech company Phylogica has announced plans to raise $26.8 million through a rights issue, fully underwritten by chairman and major shareholder Alan Tribe, with the proceeds used primarily to fund preclinicial studies for its leading drug molecule.

Nickel-explorer St George Mining has completed an institutional-led placement to raise $5.8 in funding for its flagship project at Mt Alexander, in the north-eastern Goldfields of Western Australia.

Bibra Lake-based Aurora Labs has announced plans to raise $4 million through a placement, primarily to accelerate the commercialisation of its 3D printers.

Azumah Resources’ firm rejection of Ibaera Capital’s initial takeover offer has paid dividends, with the private equity group agreeing to increase its offer for the West Perth-based miner.

ASX-listed Rural Funds Group has made its first investment in Western Australia, striking a $22 million deal to purchase three cattle stations that will be leased to Wagyu beef producer Stone Axe Pastoral Company.

Junior gold explorer Carawine Resources has announced a $6 million farm-in and joint venture agreement with Rio Tinto to explore its tenements in the Paterson province in the Pilbara.

Matrix Composites & Engineering announced it has signed a contract with Australasian Property Investments for the sale and leaseback of its Henderson facility.

Subiaco-based Tao Commodities has added to the growing interest among junior mining companies in the Western Australian iron ore sector, after it signed a binding term sheet to buy DSO Mining in a scrip deal worth at least $3.27 million.

Finbar Group has signed a joint venture agreement with a Singapore-based developer to purchase 1,697 square metres of land in the CBD for $6.5 million, which Finbar estimates will have an end value of $71 million once developed.

Printing and IT services provider CSG is set to be acquired by Japanese firm Fuji Xerox in a deal worth $140.8 million.