Shares in Perth-based explorer Sirius Resources were up nearly 10 per cent today after it announced a gold discovery at its Polar Bear project near Norseman.
Shares in Avoca Resources slipped a further 9 per cent today after the company yesterday revealed plans to merge with US-based Anatolia Minerals Development.
Ramelius Resources says it intends to accept Avoca Resources' takeover offer for Dioro Exploration, a miner it had recently set its acquisition sights on.
Takeover target Dioro Exploration has recommended shareholders reject Ramelius Resources' offer, paving the way for rival bidder Avoca Resources to gain control.
Dioro Exploration shareholders have been advised to take no action after gold producer Avoca Resources sweetened its takeover offer on December 29 with a new offer valued at $115 million.
Avoca Resources has appointed three of its board members, including managing director Rohan Williams, to the board of 44.85 per cent owned company, Dioro Exploration.
Gold producer, Avoca Resources managed to raise its stake in takeover target Dioro Exploration to more than 44 per cent by the close of business yesterday, ending the four-month acquisition proposal.
Gold producer, Avoca Resources may have secured a victory in the final hours of its bid for Goldfields miner Dioro Exploration, raising its stake in Dioro to just over 36 per cent after a UK fund manager relinquished its hefty interest in the miner.
Shares in Dioro Exploration have surged as it urges shareholders take no action on Ramelius Resources' $92 million all-scrip takeover bid, a higher offer to Avoca Resources' recommended proposal.
Dioro Exploration has capitulated to Avoca Resources' hostile $68 million takeover after the fellow gold miner increased its bid and a rival deal with a Canadian miner fell through.
Shares in takeover target Dioro Exploration have been placed in a trading halt ahead of an announcement regarding a Canadian company's proposal to buy it's flagship asset while hostile suitor Avoca Resources extends its takeover offer again.
Dioro Exploration major shareholder Baker Steel Capital Manager has increased its stake in the takeover target, which is expecting an offer from a Canadian company to trump the hostile Avoca Resources bid.
Takeover target Dioro Exploration says it is in advanced discussions with Canadian copper and gold miner Northgate Minerals Corporation as original suitor Avoca Resources extends its $68.5 million offer.
Dioro Exploration has urged shareholders to reject a sweetened takeover offer from Avoca Resources, adding it had entered into confidential negotiations with third parties.
Avoca Resources says it is surprised that target Dioro Exploration has not provided a recommendation to its takeover bid as it today declared the offer unconditional.
Shares in Avoca Resources have risen after the gold miner lifted its 2010 financial year production forecast for the Higginsville operation in Western Australia.
Avoca Resources says takeover target Dioro Exploration needs a "reality check" over the high valuation of its shares which is around 180 per cent higher than the company's current share price.
Chalice Gold Mines has received the final $841,000 payment of the sale of its Higginsville and Chalice gold projects in the Eastern Goldfields to Avoca Resources.
Avoca Resources Ltd has officially become a gold miner today after it started gold production from its Higginsville project in Western Australia while it received a cash bonus for bringing the mine to life under budget.
West Perth-based minerals explorer Avoca Resources Ltd will acquire the Two Boys gold mine from FMR Investments Pty Ltd, formerly Barminco Investments Pty Ltd, for $271,250 in cash and scrip, the company has announced.
West Perth-based gold explorer Chalice Gold Mines Ltd has raised $6.9 million through the sale of 3.5 million shares in Avoca Resources Ltd, the company announced today.
West Perth-based minerals explorer Avoca Resources Ltd has completed the acquisition of two gold projects from Chalice Gold Mines Ltd, issuing shares worth $5 million to the company today.
West Perth-based minerals explorer Avoca Resources Ltd will sell its South Australian iron oxide copper-gold project to Victoria-based Rex Minerals Ltd for a scrip issue, the company has announced.
West Perth-based minerals explorer Avoca Resources Ltd will award a development and haulage contract to Australian Contract Mining Pty Ltd, and an engineering and construction contract to GR Engineering Services Pty Ltd, the company has announced.
West Perth-based minerals explorer Avoca Resources Ltd has acquired two gold projects after signing agreements with West Perth-based gold explorer Chalice Gold Mines Ltd and Perth-based Resolute Mining Ltd.
Shares in West Perth-based gold and copper explorer Avoca Resources Ltd rose this morning after UK-based Pala Investments Holdings Ltd acquired the 13.3 per cent stake in the company held by Gold Fields Ltd.
Emerging gold producer Avoca Resources has delineated a second major high-grade gold discovery at its Trident gold project near Norseman in south-eastern Western Australia.
West Perth-based Avoca Resources Ltd's joint venture partner Encounter Resources Ltd has lodged a prospectus to raise $ 4 million to be used to further develop the two companies joint venture arrangement for the exploration of uranium deposits in WA.
