Deals

Wesfarmers has made a $1.5 billion indicative offer for rare earths miner Lynas Corporation, its first takeover bid since its ill-fated $705 million purchase of Homebase in the UK in February 2016.

Sandfire Resources has announced an earn-in and joint venture option agreement with ASX-listed White Rock Minerals for a stake of up to 70 per cent in the multi-commodity Red Mountain project in central Alaska.

Over 99 per cent of Doray Minerals' shareholders have voted in favour of the company’s proposed $615 million merger with fellow locally-based gold miner Silver Lake Resources.

Digital healthcare agency Curve Tomorrow has expanded into Perth through the acquisition of Progressive Medical.

Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.

Meteoric Resources has struck a deal to pay up to $3 million in cash and scrip for Crusader’s Resources Juruena and Novo Astro gold projects, and Crusader has increased the underwriting of its $4.2 million rights issue by $1 million.

Private equity investors have bought the assets and business of Welshpool-based coatings distributor Robayne, two months after the company was placed into voluntary administration.

Kalium Lakes has secured around $102 million of debt funding for the development of its Beyondie sulphate of potash (SOP) project, less than a month after receiving commitments for $74 million from the Northern Australia Infrastructure Facility for the project.

Mincor Resources has extended its offtake agreement with BHP Nickel West, marking a key step in Mincor’s restart of its Kambalda nickel operations.

Northern Minerals and Venturex Resources have announced share placements of $20 million and $3.65 million, respectively.

Pilbara Minerals has exercised an option to enter into a joint venture with steelmaker Posco to develop a lithium processing facility in South Korea.

Altura Mining has increased its share purchase plan (SPP) by $4 million, just two days after it upsized the offer from $5 million to $10 million.

A carefully managed five-year incubation process for new Perth company Respirion Pharmaceuticals has resulted in one of the largest funding deals for Western Australia’s biotech sector.

West Perth-based Serpentine Technologies has signed a non-binding term sheet to merge with fabrication technology business K-TIG.

Commonwealth Bank of Australia is suspending the demerger of its mortgage broking and wealth management businesses to focus on customer remediation and implementing the recommendations of the royal commission.

AMP Capital has acquired a 50 per cent ownership stake in the private company that developed Optus Stadium, adding to several other infrastructure assets it has purchased in Western Australia including Kalgoorlie prison and Port Hedland airport.

Perth-based Matthew Woods will be the joint leader of KPMG's greatly expanded insolvency practice after the 'Big 4' accounting firm finalised a deal to acquire Ferrier Hodgson. The merged entity will have 27 partners nationally and be the largest practice in WA.

WA Super has confirmed a memorandum of understanding has been signed with two other superannuation funds to create an entity that would manage around $23 billion in assets for about 347,000 members.

Altura Mining has declared its Pilgangoora lithium project is now producing commercial amounts of lithium, while increasing its share purchase plan from $5 million to $10 million.

Tyre recycling company Pearl Global has signed a conditional placement agreement with cornerstone investor ROC Asset Management to fund the addition of thermal desorption units.

Listed investment firm Keybridge Capital has unwrapped a $20 million takeover bid for loss-making confectionary company Yowie.

Eon NRG is pleased to announce that the Company’s rights issue, as detailed in the Prospectus dated 6 February 2019, has been well supported by Eon’s shareholders and new investors and is now close

The board of Gindalbie Metals has recommended shareholders accept a takeover offer from its Karara project partner Ansteel, and has proposed to demerge its wholly-owned subsidiary Coda Minerals.

Panoramic Resources has announced its intention to raise $22.4 million via two share placements and an entitlement offer, while juniors Black Rock Mining and Kibaran Resources are also involved in capital raisings.

Newcrest Mining will pay Toronto-listed Imperial Metals Corp $US807 million ($A1.15 billion) for a majority stake in a Canadian copper and gold mine.

Argosy Minerals and Alta Zinc are both undertaking rights issues, to raise up to $6.2 million and $4.38 million, respectively.

Panoramic Resources will undertake a $19 million capital raising in return for favourable loan repayments to project financier Macquarie Bank, after production issues plagued its Savannah nickel-copper-cobalt project.

West Perth-based Northern Minerals and ASX-listed Golden Rim Resources have announced share placements of $3 million and $2.25 million, respectively.

Capricorn Metals advises that the Share Purchase Plan described in the offer booklet dated 6 February 2019 closed on 21 February 2019.

Catalyst Metals has announced that Gold Exploration Victoria, a subsidiary of Hancock Prospecting, has agreed to subscribe for a $13.02 million placement of Catalyst shares.

Westgold Resources will not go ahead with its planned purchase of Doray Minerals’ Andy Well and Gnaweeda gold projects.

Middle Island Resources has made a $9.4 million all-scrip takeover offer for fellow Western Australia-based gold junior Alto Metals.