Financial Services

Azumah Resources has raised more than $4 million through an oversubscribed share placement as part of its push to fast-track exploration and development at its Wa gold project in Ghana.

Tim Moore has just completed his second successful private equity deal with a low-profile Perth software company.

Woodside Petroleum will raise $US700 million through the issue of corporate bonds in the United States to repay short-term debt and general corporate purposes.

Local brewer Gage Roads has told the ASX that recent share price gains are most likely due to positive news presented to the market about its expansion plans on the back of strong sales.

Malaga-based Matrix Composites and Engineering plans to list on the local stock exchange in a fortnight after raising $15 million through its initial public offer.

Receivers of failed agribusiness company Great Southern today completed the sale of the company's far north Queensland cattle station to Consolidated Pastoral Company for $48 million.

Junior gold producer Troy Resources' plans to raise almost $25 million to continue development at its Casposo gold project pushed down its share value as much as five per cent in trading this morning.

Shares in property developer Port Bouvard have been placed in a trading halt on a request from the company in order to complete the refinancing of its existing loan facilitites with St George bank.

Tim Moore has just completed his second successful private equity deal with a low-profile Perth software company.

Moly Mines says it has finalised its debt restructure arrangements for its remaining $US134 million interim financing facility after a $US700 million deal was struck last week with privately-owned Chinese company Hanlong Mining Investment.

Collapsed biofuels company Natural Fuel is set to be sold to private WA business NRG Capital for $575,000 after creditors agreed to execute the deed of company arrangement.

Subiaco-based oil and gas explorer Promesa has opened its initial public offer in which it hopes to raise up to $3 million that will predominately be used to fund its interests in two projects in the United States.

Galaxy Resources has extended its relationship with unlisted public company General Mining Corporation, with the pair forming an alliance to explore for lithium in Kazakhstan and Mongolia.

Perth-based PearlStreet has recommended shareholders accept a sweetened $56.3 million takeover offer from Campbell Brothers, snubbing Catalyst Investment Managers' recapitalisation proposal.

Uranium explorer Raisama has received regulatory approval for a Chinese state-owned firm to take a 14.9 per cent interest, ahead of a $12 million initial public offer expected to be launched within two weeks.

Perseus Mining has unveiled details of its third capital raising this year, with the gold hopeful planning to raise $58.5 million through institutional investors to take its Ayanfuri gold project through to construction.

VDM Group has announced plans to raise $35 million as part of a strategy to reduce its debt levels and strengthen its financial position.

West Perth-based explorer Exco Resources plans to raise $10.1 million for further exploration work at its copper projects in north-west Queensland.

Perth-based property funds manager Aspen Group has outlined steps taken to address market pressures, which resulted in a $64.7 million loss for 2008-09 after the financial crisis severely hurt property valuations, management fees and transaction activity.

Adelaide-based Flinders Mines is planning to raise more than $50 million through an institutional placement and a fully-underwritten rights issue to progress its Pilbara iron ore project.

Explorer Hazelwood Resources has revealed plans to raise up to $12.35 million to fund exploration works and a bankable feasibility at its Cookes Creek tungsten project in the east Pilbara.

Sandfire Resources managing director Karl Simich has sold 1 million shares to an unnamed North American resource fund, pocketing more than $3.5 million.

The strength of the Australian dollar is good news for international speculators, but not for exporters.

The tourism industry needs the government to commit to a new accommodation program.

Kevin Rudd may be leading the charge on the ETS, but another PM had the idea first.

HOUSING Minister Troy Buswell's reform proposals for public housing announced last week could not have come at a better time for national social housing provider Community Housing, which recently announced its intention to move into the Western Australian

Many of the pioneers of private education in WA still cast a long shadow over one of the state's biggest export industries.

Troy Resources non-executive chairman John Dow has described the battle for boardroom control as a clash of personalities that started last year, as the chance of a truce looks highly unlikely.

Perth-based energy specialist Enerji is set to establish an office in the United States after a number of the country's green investment funds indicated they will invest more than $11 million into the company.

Perth-based mortgage aggregator Australian Finance Group has sold its financial planning arm to ING-backed Sentry Financial Group.

Computer and office equipment financing company ThinkSmart has signed a three-year distribution agreement with a leading European electrical retailer that will see the company provide its B2B rental finance product in almost 20 locations across Spain.

Commonwealth Bank of Australia (CBA) has paid a $100,000 fine from the corporate watchdog for an alleged failure to disclose a hike in its 2009 bad debt forecast ahead of a controversial $2 billion capital raising.