Breakaway Resources

LionOre Mining International has increased a strategic stake in Breakaway Resources and purchased the Bannockburn gold project. In a separate transaction, LionOre has subscribed for a series of convertible notes with total face value of $3.5 million with exercise price of 4.5 cents per share.

Western Australian diversified minerals explorer Breakaway Resources Ltd has announced a deal to acquire LionOre Mining International's Australian nickel exploration assets, and also has plans for a $20 million capital raising.

Breakaway Resources Ltd has finalised its acquisition of LionOre Australia Ltd's nickel assets, and will commence exploration across its entire portfolio shortly.

Nickel and base metal explorer Breakaway Resources Ltd has entered into a strategic farm-in joint venture worth $3.5 million with Barra Resources Ltd, over an ambitious gold exploration programme at Breakaway's Kambalda West project in Western Australia.

Breakaway Resources has sold its Earn-In Rights for the Mt Finnerty Joint Venture to Reed Resources Ltd for a total consideration of 500,000 fully paid ordinary shares.

Shares in Breakaway Resources have not been affected in trading today after announcing it will recommence drilling at it's Scotia Nickel mine project, located 70 kilometres northwest of Kalgoorlie, by early November.

West Perth-based Breakaway Resources has signed a $10 million joint venture agreement with BHP Billiton over the Eloise copper mine in Queensland.

Breakaway Resources has announced plans to raise $3.5 million via a share purchase plan to underpin new drilling and exploration programs at its flagship nickel sulphide projects in WA and copper projects in Queensland.

Breakaway Resources says the strong copper price outlook has kick-started exploration around the recently re-opened Eloise copper mine in north-west Queensland.

Breakaway Resources has signed a joint venture agreement worth $8 million with Sandfire Resources, to explore the Altia base metals project in north-west Queensland.

Texas focused oil producer Aurora Oil & Gas has appointed Perth company director John Atkins to its board and bolstered its US management team.

Minotaur Exploration has announced an agreed takeover offer for Perth-based Breakaway Resources and the establishment of two new joint ventures to fund exploration of Breakaway's tenements.

Adelaide-based company Minotaur Exploration has acquired 91 per cent of Perth-based Breakaway Resources in an off-market takeover.The iron ore and base metal resources company's offer exchanged one of its ordinary shares for 10 ordinary shares in copper and gold explorer Breakaway.

There's a flipside to being undervalued, according to Minotaur Exploration managing director Andrew Woskett, whose business has a $21 million market cap.