Diversified investment house Washington H Soul Pattinson has launched a near-$70 million all-cash takeover bid for Perth-based exploration junior Exco Resources.
West Perth-based Exco Resources has asked Barclays Capital to arrange a $16 million debt financing facility, which together with the recent $7 million equity raising, will be used for the development of the White Dam gold project.
West Perth-based Exco Resources Ltd will work with Sydney-based Paradigm Metals Ltd to explore for uranium and other commodities on their Queensland tenements through a joint venture project, the companies have announced.
West Perth-based diversified explorer Exco Resources NL has entered into agreements that unconditionally underwrite the exercise of the company's 39.99 million listed options due to expire on 28 August 2006, raising just under $8 million.
Exco Resources NL has completed a scoping study for two prospects but will need to add further mineral resource tonnage to justify a stand-alone development.
