Aspiring miner Poseidon Nickel has completed a $69 million entitlement offer without having to call on support from its sub-underwriter, Andrew Forrest’s Squadron Resources.
Western Australian startups and ‘young’ tech companies raised $295 million last financial year, which was 8.3 per cent of the amount raised nationally, a new report has found.
The corporate regulator has objected to an underwriting deal under which Andrew Forrest’s Squadron Resources could end up with as much as 61 per cent of Poseidon Nickel.
Subiaco-based marketing business OpenDNA has completed a $2.5 million placement and announced it will acquire Perth-based Choose Digital and Chinese-focused RooLife.
Startup businesses in Perth have access to a new source of funding after the Royal Automobile Club of WA launched a $3 million investment fund last night, while also disclosing it is a substantial shareholder in fast growing blockchain business Power Ledger.
Shares in biomedical technology business Phylogica were up 13 per cent today after the company announced it had completed a $9.1 million recapitalisation.
The competition watchdog has approved a Hong Kong consortium's $13 billion takeover bid for APA Group, Australia's biggest gas pipeline company, on the proviso that four major assets in Western Australia are sold to new owners.
Aspire Mining is pleased to announce that pre-commitments for the minimum $1.7 million dollar raising condition of the $15m Strategic Funding package have been received.
Mineral Resources has continued to diversify its interests, taking a $2 million stake in West Perth-based Barra Resources, which is developing the Mt Thirsty cobalt project near Norseman.
Resource Development Group has announced plans to acquire a 30 per cent stake in a gold project from Bullseye Mining, which is currently the subject of a takeover offer and board spill.
Ramelius Resources has launched a $59.2 million hostile takeover bid for exploration company Explaurum, which is aiming to develop its Tampia Hill gold project in the Wheatbelt.
Robotic technology company FBR has signed a partnership agreement with Wienerberger AG, the third major international building materials group to have struck a deal with the Perth startup to commercialise its Hadrian X autonomous bricklaying robot.
Great Southern Mining has received commitments from sophisticated investors for the placement of 34 million shares at an issue price of $0.0375 a share to raise approximately $1.275 million.
GWR Group has struck a deal to sell its Hatches Creek tungsten project in the Northern Territory to West Perth-based Tungsten Mining for $8.7 million cash.
Beacon Minerals has raised $18 million via a debenture issue, with the proceeds expected to bring the company’s Jaurdi gold project into production next year.
Graphite aspirant Triton Minerals has tapped investors for $4 million, led by major shareholder Shandong Tianye Mining, as the company progresses its Ancuabe project in Mozambique.
Northern Star Resources has announced the acquisition of a gold mine in Alaska for $US260 million ($347 million) from Japanese group Sumitomo, along with a $175 million share placement to fund the purchase.
Neil Warburton-led Coolgardie Minerals is set to list on the ASX tomorrow, while shares in Black Dragon Gold began trading today following a $6 million initial public offering.
Poseidon Nickel has announced a $74.6 million capital raising, backed by Andrew Forrest’s Squadron Resources, days after US group Black Mountain Metals pulled out of a $66 million takeover proposal.
Santos is set to become the dominant supplier of gas in the Western Australian domestic market after striking a deal to buy privately-owned Quadrant Energy for $US2.15 billion ($A2.95 billion).
US group Black Mountain Metals has threatened to walk away from its proposed $66 million takeover bid for Poseidon Nickel after the local company disclosed it was pursuing a substantial capital raising.
