News Articles for BMO Capital Markets

Applecross-based Hot Chili will raise up to $29.9 million courtesy of a private placement, in a bid to further progression at its Costa Fuego copper-gold development in Chile, located 600km from Santiago.

Gold exploration company Predictive Discovery has announced it will raise $50 million in a bid to enhance further growth and development at its flagship Bankan gold project in Guinea.

Okapi Resources has wrapped up its maiden field exploration program at its Newnham Lake and Perch projects in Canada, returning anomalous uranium in over half its 69-piece rock chip samples and highlighting several compelling drill targets. According to the company, the best result graded 265 parts per million triuranium octoxide prompting the explorer to up the ante with a pair of new year drill campaigns.

China's Shandong Gold has matched a new bid to buy out takeover target Cardinal Resources, having offered to pay $1.05 per company share.

Russian-owned Nordgold has made a new offer to buy Cardinal Resources, trumping a competing bid from Chinese company Shandong Gold by around $26 million.

Takeover target Cardinal Resources has received a higher purchase offer from China-based Shandong Gold, after competing buyer Nordgold upped its bid last week.

Cardinal Resources has received an all-cash takeover bid from Chinese producer Shandong Gold, which has offered to buy the West Perth-based company for 60 cents per share.

Russia-based Nordgold is looking to expand its operations in Africa by making a takeover bid for Cardinal Resources after increasing its stake in the West Perth-based company to nearly 20 per cent.

Northern Star Resources has announced the acquisition of a gold mine in Alaska for $US260 million ($347 million) from Japanese group Sumitomo, along with a $175 million share placement to fund the purchase.

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.

Shares in Elemental Minerals leapt on the ASX today after the company received a non-binding takeover offer from a Hong Kong investment group.

Local players in the corporate finance market faced more competition than ever before from big national and international firms, WA Business News' 2011 survey has found.