Deals

Major health insurers HBF and Bupa have announced they will invest in the development of fellow insurer nib’s online health service platform, Whitecoat, which promotes itself as a TripAdvisor-like model offering consumers search, booking, survey, and pay functions for healthcare treatment.

Investor interest has swung strongly towards the resources sector this year, but opportunities remain for tech companies aiming to list on the ASX.

Tempo Australia has expanded its service offering with the acquisition of local electrical, telecom and data communications contractor Cablelogic for an undisclosed sum.

Gold miner Barrick Gold today announced its intention to sell its 50 per cent stake in Kalgoorlie’s iconic Super Pit, which is Western Australia’s second largest gold mine.

Motoring, travel, retirement and financial services group Royal Automobile Club of WA is understood to have sold part of its aged care homes services business to Sydney-based Quadrant Private Equity.

Not for profit MercyCare will boost its residential aged care services with the acquisition of privately-owned Belrose Care Group for an undisclosed sum.

Investor chat forum HotCopper is aiming to list on the ASX in September after lodging a prospectus that reveals a big sell-down by existing shareholders and an expected loss in the current financial year, and makes no mention of outgoing managing director Greg D’Arcy.

Three local tech companies have tapped investors to raise a combined $20.1 million, with the funds to be put towards shoring up their balance sheets and further developing their products.

Triton Minerals is set to get a second chance after administrators Ferrier Hodgson released control of the business to a private gold company and a corporate finance firm, which will raise a combined $14.1 million and relist the graphite explorer on the ASX.

Gold and nickel miner Independence Group has announced a $280 million capital raising to bolster its balance sheet, making it the largest raising by a Western Australian company for 2016.

Ramelius Resources has raised $25 million from investors to fund a development program in the Murchison region that is targeting a 40,000 ounce increase in gold production by FY18.

Mark Bennett’s gold hopeful, S2 Resources, has tapped investors for a $12.1 million capital raising to fund ongoing work at its Polar Bear project near Norseman.

Perth-based IT firm Velrada has announced a $10 million contract to support the expanding Pilbara operations of global facilities management company Sodexo.

Point-of-sale financing group ThinkSmart has announced plans to undertake an $8.8 million capital raising, delist from the ASX and jump over to London’s AIM.

Minerals explorer TNG has reignited plans to form a spin-out company by demerging its base metals portfolio through a subsidiary and floating it on the ASX.

Six listed resources companies operating in commodities as diverse as gold, lithium and iron ore have announced a collective $36.9m in capital raisings today.

Gina Rinehart’s family company, Hancock Prospecting, has announced the purchase of two cattle stations in northern Australia, continuing the investment in agriculture by magnates such as Andrew For

Indian sandalwood producer TFS Corporation has refinanced $US200 million of debt through a note issue overnight in the US, while also raising extra funds for working capital.

Debt-laden uranium miner Paladin Energy has struck agreements to sell an interest in two of its projects, with total proceeds expected to be $US205 million ($A275 million).

An investment group led by Sydney-based Duncan Saville is set to gain control of Homeloans, after the Perth-founded mortgage lender struck a takeover deal with competitor RESIMAC.

Shareholders in one-time mining companies Cove Resources and Pacific Ore have enjoyed solid gains after the two companies resumed trading on the ASX as tech plays, with one chaired by former Alinta

Local junior miners Prospect Resources, Azumah Resources and Sipa Resources, and Melbourne-based Red River Resources, have today announced a collective $29.8 million worth of capital raisings. 

Listed companies IM Medical and Rox Resources have struck a $15 million project deal that highlights the shift in market interest from technology stocks to the mining sector.

Two local gold hopefuls with interests in a Cambodian project have announced a merger, with Emerald Resources to buy Renaissance Minerals in a deal valued at about $40 million.

Silver Lake Resources has sold its Great Southern gold project to ACH Minerals for $5 million in cash.

Peet will develop a 1,100-lot residential estate in Queensland after forming a joint venture with a Thai real estate developer.

NBN Company has awarded contracts to six companies to deliver the national broadband network to homes and businesses in the Telstra hybrid-fibre coaxial network.

Aspiring gold miner KIN Mining says it has rejected a proposal from Victoria-based MHM Metals to merge the two companies.

Woodside Petroleum has agreed to buy ConocoPhillips' stake in three deepwater oil blocks off the coast of Senegal for $US350 million ($A460 million).

Digital media company migme has been forced to extend its suspension on the ASX to complete a planned capital raising, which it said would be essential for the business to remain viable.

Panoramic Resources has today confirmed plans for a spin-out of its Gum Creek gold project into a new ASX-listed company, while Metals X is considering the possible sale of its Rover gold project.

Perth-based explorer Geopacific Resources has entered into an agreement to farm-in to Kula Gold’s Woodlark Island gold project in Papua New Guinea, in a deal worth up to $18.6 million.