Financial Services

Shares in Cape Lambert Resources have entered a trading halt as it prepares to release details of the completed $214 million initial public offer for Q Copper.

A West Perth-based company with mineral assets in Chile and the shell of former explorer Supersorb Environmental will open their initial public offers this week, aiming to raise a combined $18 million.

Galaxy Resources says it $130 million project and plant loan has now been approved after China Development Bank Corporation joined the project finance syndicate led by Austrian bank, Raiffeisen Zentralbank Österreich AG.

Shares in Carnegie Wave Energy have dropped after the company said it had raised $3.5 million, the first part of a total $6 million capital raising to fund its first wave energy plant at Garden Island.

Cazaly Resources has had to terminate a $4 million capital raising after it received indications that it was unlikely to get the funds.

West Perth-based Avalon Minerals plans to raise $6.6 million to fund exploration and feasibility studies at its Viscaria copper project in Sweden.

Northbridge-based Impact Minerals plans to raise $5 million through a placement managed by Hartleys, to ramp-up exploration at its Bostwana uranium project.

Subiaco-based Gryphon Minerals will ramp up exploration work at its Banfora gold project in Burkina Faso after it today said it had raised $20 million through a share placement.

East Perth-based Salinas Energy has raised $5.7 million through a heavily oversubscribed share placement, with part of the funds to be applied towards new venture opportunities in South East Asia.

The number of Perth-based companies with listing aspirations is growing with four more resource entities this week opening their initial public offers to raise a collective $25 million.

Coote Industrial has today confirmed it has raised $30 million from a share placement and will raise a further $10 million through a share purchase plan.

Tox Free Solutions has raised $20 million from an institutional placement and plans to raise a further $5 million through a share purchase plan as the company prepares for works under its Gorgon contract.

Cape Lambert Iron Ore has officially launched its plans to spin out the Lady Annie copper mine into new company Q Copper, which will soon open its $214 million initial public offer.

Miner Perilya has launched a $55 million fully underwritten rights issue with funds to be applied towards organic growth and deliver projects that will complement its existing operations.

Matrix Composites and Engineering made a strong debut on the local stock market today, with its shares closing at a 36 per cent premium to its issue price.

Subiaco-based Allied Gold has revealed plans to raise up to $C155 million ($A158 million), its second major capital raising for the calendar year.

St Barbara has today revealed a $124 million rights offer, described as the next logical step for the gold miner's growth objectives, chief executive Tim Lehany said.

Small to medium enterprises are sticking with the safety of the big four banks, which have increased their market share in the increasingly competitive market for small business deposits, new figures show.

West Perth-based Cauldron Energy has secured $10 million from Chinese investors to ramp up exploration at its suite of uranium assets in Australia and Argentina.

Liquefied Natural Gas Limited's share purchase plan has been completed, raising almost $18 million, bringing the company's cash position to some $55 million.

Mid-West magnetite hopeful Asia Iron Holdings is targeting a 2012 production start at its flagship $2 billion Extension Hill project near Geraldton, after securing a major state-owned Chinese partner for the venture.

Sundance Resources has raised $85 million from international institutional investors to complete a definitive feasibility study of its Mbalam Project, including mine, process, transport and port infrastructure and also provide general working capital.

Shares in West Perth-based Regis Resources remained steady in trading today following the announcement of a $45 million debt facitlity the company will use to develop its $73 million Duketon gold project.

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.