Deals

The Takeovers Panel has dismissed an application from Indonesian group Eastern Field Developments regarding its takeover target Finders Resources, with the panel determining that appropriate action has been taken by the company in relation to its Wetar project.

Gulf Manganese Corporation has secured a $15 million funding package, led by an Indonesian investment group, to complete construction of the company's first two smelters at its Kupang smelting hub in West Timor.

Image Resources has launched a $25 million capital raising that will contribute to the construction of its Boonanarring mineral sands project near Gingin, which is targeting production by the end of the year.

High Grade Metals is pleased to announce that on 26 February 2018 it completed the acquisition of the issued capital of Austrian Projects Corporation Pty Ltd (ACN 622 432 428).

Peel Mining spin-out Saturn Metals began trading on the ASX today after the gold explorer raised $7 million through an initial public offering.

Indonesian group Eastern Field Developments has increased its stake in Finders Resources as the major shareholder pursues a hostile takeover of the copper miner valued at around $177 million.

Gold hopeful Egan Street Resources has secured $11.9 million of funding via the exercise and underwriting of the company's listed options, with the proceeds to be used at its Rothsay project.

Gold miner Northern Star Resources has agreed to purchase the South Kalgoorlie mine from Westgold Resources in a cash and scrip deal worth $80 million.

Mitsui & Co has announced its $602 million takeover offer for AWE will be unconditional if the Japanese company acquires more than a 50 per cent stake before March 14.

Cutting-edge gene research could be lost to China unless local investors stump up to keep it in Australia, according to Grant Morahan from the Harry Perkins Institute of Medical Research.

Copper explorer MOD Resources has tapped investors for $18.3 million, with the proceeds set to be used on exploration work at its T3 and T20 Dome projects in Botswana.

S2 Resources advises that completion has occurred under the Heads of Agreement that was announced on 14th February 2018.

Lithium Australia has secured an $18.2 million funding package from US institutional investor Arena Investors LP via a multi-tranche convertible note facility, with the proceeds to be spent on developing a lithium processing pilot plant.

Finders Resources' largest shareholder, Eastern Field Developments, which is currently making a hostile takeover bid for the copper miner, has submitted an application to the Takeovers Panel requesting the company disclose details regarding its Wetar project and revise the independent expert report.

Global IT services company DXC Technology has bolstered its presence in Western Australia, buying local firm M-Power Solutions and consolidating its 300-plus staff in new premises in the CBD.

Shares in junior explorer Podium Minerals began trading on the ASX today after the company raised $5.5 million through an initial public offering.

Subiaco-based RTG Mining has raised $US34 million as the company aims to secure an interest in the old Panguna copper-gold project in Bougainville, while Azure Minerals also announced a capital raising worth $8.2 million.

Black Mountain Resources Limited is pleased to update shareholders on the following restructure initiatives that have been agreed to by the Company and its major lender, Richmond Partners Masters L

The single largest shareholder in Watpac has struck a deal to acquire a majority stake in the contracting and construction company, which today reported an interim loss of $1.4 million.

3D printing company Aurora Labs has announced it will raise up to $8 million, with the funds to be used to support development of its large format technology.

Shares in West Perth-based Raiden Resources (previously SubZero Group) enjoyed strong gains today after they started trading on the ASX, following a two-year restructuring of the company and acquisition of a copper-gold project in Serbia.

Gold miner Doray Minerals has raised $25 million to reduce debt and increase exploration at its Deflector project, which is located 160 kilometres east of Geraldton.

Perth-based tech company Universal Biosecurity is aiming to raise $5 million through an initial public offer to fund a two-year research and development program.

After selling its Southern Cross gold operation last year, Chinese-owned Hanking Gold Mining has made a takeover proposal for Primary Gold worth $37.5 million.

Overland Resources Limited is pleased to advise that it has executed a Sale and Purchase Agreement with Peter Gianni to acquire a 100% interest in Exploration Licence Application 53/1971 for a tota

Gold junior Red 5 has announced a hostile $4 million takeover bid for unlisted public company Bullseye Mining, which owns tenements near Red 5's Darlot gold mine.

Finders Resources' major shareholder, Eastern Field Developments, has changed its hostile takeover bid for the copper miner to 'unconditional' status, with the Indonesian consortium continuing to raise concerns about the company's Wetar project.

Three Perth-based junior miners have tapped investors for more than $10 million, while gold explorer Crusader Resources will raise up to $US15 million ($19 million) as the company seeks a dual listing on London's AIM.

A tieback of the Scarborough field into the Pluto LNG plant could well be the next major energy development in Western Australia, after Woodside Petroleum announced a deal to increase its stake in the field.

Okapi Resources Limited (ASX:“OKR”) (“Okapi” & “Company”) is pleased to announce that, further to its announcement of 24 January 2018, it has completed the issue of 2,142,857 fully paid ordinar

Lithium hopeful Prospect Resources has repriced its recently announced $10 million capital raising, with last week's slump in the stock market forcing the company to drop the proposed share price.

Perth-based Eden Innovations has postponed a planned $6 million capital raising in response to this week's stock market weakness.