Deals

Carnarvon Petroleum plans a $79 million share placement and a $5 million share purchase plan to fund ongoing appraisal activities and initial development phases of its Dorado oil and gas discovery.

Kalium Lakes is on the verge of becoming Australia’s first sulphate of potash producer, after it launched a rights issue and placement that will complete funding for its Beyondie project.

Pacific Energy has entered a takeover deed with investment group QIC, with major shareholder Kenneth Hall set to reap more than $200 million from the deal.

Bellevue Gold is seeking to raise $18.5 million via an institutional share placement to fund ongoing exploration at its namesake project, and announced a director sell-down.

Blackham Resources has struck a deal to sell its Lake Way tenements to Salt Lake Potash for $10 million in cash.

Ningbo Shanshan, which last month became Altura Mining’s largest shareholder, has invested an additional $22.4 million in the lithium miner via a share placement.

A summary of last week's smaller deals that did not get included in our normal coverage of the daily news.

Northern Minerals is set to raise $30 million via a private share placement as it seeks to advance its Browns Range rare earths project in the east Kimberley.

International energy consultancy Xodus Group has announced that it signed an agreement to acquire North Fremantle-based Green Light Environmental.

De Grey Mining is seeking to raise $22 million via a share placement and rights issue to complete the acquisition of Indee Gold.

Arafura Resources’ rights issue has only raised only around a third of its $23.2 million target, with underwriter Patersons Securities set to be issued with $7.9 million worth of shares.

Elders has made a $187 million scrip and cash offer for unlisted private wholesale buying group Australian Independent Rural Retailers.

Aurora Minerals has closed its fully underwritten 1-for-1 entitlement offer, raising $1.17 million at 1 cent a share.

Shares in VRX Silica have surged to 16 cents today, a rise of 33 per cent, after it entered into a strategic alliance with China Southern Glass related to its Muchea silica sand project.

Piedmont Lithium has raised $21 million via a share placement to complete the definitive feasibility study for its namesake project, while Marindi Metals has tapped investors for $2.5 million, and Koppar Resources for $1.1 million.

The end of the financial year has triggered the sale of a spate of long-running private companies in Western Australia, including global tech leader Immersive Technologies, mining consultancy CSA Global and Action Industrial Catering.

Legend Mining has raised $9.8 million via a share subscription agreement with Independence Group, and signed joint venture agreements with IGO and Mark Creasy’s Creasy Group at Fraser Range.

Intermin Resources has reached an agreement to sell its Menzies and Goongarrie gold projects for a cash-and-scrip consideration of $8 million.

Assorted minor corporate finance deals not covered in the previous week's articles.

Graeme Yukich’s European Foods has purchased Blue Cow Cheese, which went into administration last month.

NTM Gold is set to raise up to $3.9 million, while Encounter Resources has raised $1.4 million, as the two juniors seek to advance their exploration projects.

Invex Therapeutics has become just the third WA-based company to list on the ASX this year, with Minderoo Group its largest shareholder.

AP Eagers has offered to sell dealerships in Newcastle and the Hunter Valley region, as it aims to assuage the Australian Competition and Consumer Commission’s issues with its proposed acquisition of rival Automotive Holdings Group.

Shares in Pura Vida Energy surged more than 80 per cent higher today, to 3.1 cents, after it secured a binding farm-in agreement with UK-based Gemini Resources to earn a 35 per cent interest in two onshore oil and gas projects in Poland.

International consulting group ERM has acquired West Perth-based mining consultancy CSA Global for an undisclosed amount.

West Perth-based Chalice Gold Mines has entered into a binding share purchase and royalty agreement to sell its gold assets in Quebec, Canada.

Shareholders have welcomed Capricorn Metals' announcement it is seeking to raise up to $18.3 million via a share placement and top-up issue, and that Mark Clark and Mark Okeby, both formerly of Regis Resources, have joined the board.

The Australian Securities and Investments Commission has appointed Morgan Stanley to sell a stake of approximately 12.9 per cent in Yowie Group, which the regulator seized in April.

Kalium Lakes is a step closer to a final investment decision on its Beyondie sulphate of potash project, after it received a credit-approved offer from German KfW IPEX-Bank for around $102 million.

Nickel miner Panoramic Resources has entered into a binding agreement to sell its Thunder Bay North platinum group metals project in Canada for $C9 million ($9.8 million).

US company Civeo has acquired Kewdale-based Action Industrial Catering, which counts Fortescue Metals Group, Pilbara Minerals and Western Areas among its major clients.

Calima Energy has raised around $12.7 million, via a placement and entitlement offer, with the funds set to be primarily used for general working capital purposes.