Golden West Resources is at a loss to explain a share price surge of 92 per cent over the past three trading days as speculation emerges of a possible takeover.
Some seven months after he was appointed to the helm of Golden West Resources, chief executive David Rose will step down as the company seeks to conserve cash.
Osborne Park-based Fairstar Resources Ltd said it has received several unsolicited enquiries over its 18 per cent shareholding in Golden West Resources Ltd.
Portman Ltd said it is assessing its options of its shareholding in Golden West Resources Ltd after a Federal Court judge today ruled against the validity of its proxy forms lodged for last week's extraordinary meeting.
The final outcome from the Golden West Resources Ltd extraordinary meeting will not be known for another two weeks, with a Federal Court judge today reserving his judgment.
It's a win-win situation for iron ore hopeful Golden West Resources Ltd and Yilgarn Infrastructure Ltd following a rail and port deal in the state's Mid West region.
Portman Ltd has turned up the heat in its battle with junior iron ore company Golden West Resources Ltd, which has recruited a senior Rio Tinto manager as its new chief executive one day after signing a Chinese iron off-take deal.
Portman Ltd is calling for the removal of two Golden West Resources' executives following the completion of its planned 19.9 per cent share acquisition.
Osborne Park-based Fairstar Resources Ltd has ended its lengthy takeover bid for Golden West Resources Ltd but its final stake in the takeover target has yet to be determined.
Osborne Park-based Fairstar Resources Ltd can now concentrate on its takeover of neighbour Golden West Resources Ltd, after the sale of shares held by ANZ Bank in the wake of the Opes Prime disaster.
Nedlands based Portman Ltd has again denied speculation it will bid to takeover Golden West Resources Ltd, despite applying for approval to increase its interest in Golden West from 14.9 to 19.9 per cent.
Shares in takeover target Golden West Resources Ltd have soared over 70 per cent after it was revealed iron ore mining company Portman Ltd had acquired a 10 per cent stake while its bidder Fairstar Resources discloses its position in the Opes Prime saga.
Golden West Resources Ltd has lodged an appeal against the Takeover Panel's decision to uphold Falak Holding's accidental sale of an 8 per cent Golden West stake into hostile suitor Fairstar Resources Ltd's scrip bid.
The bitter takeover battle for Golden West Resources is set to continue after Fairstar Resources extended its takeover offer for the group until February 13.
Shares in Fairstar Resources Ltd sank another 5 per cent today as it revealed its holding in takeover target Golden West Resources Ltd had fallen from 32.2 per cent to 24.8 per cent.
Golden West Resources Ltd has firmly rejected Fairstar Resources Ltd's improved scrip takeover offer, arguing that the value of Fairstar scrip is highly uncertain and volatile and that Fairstar adds nothing to the planned Wiluna West iron ore project.
Fairstair Resources Ltd has increased the value of its hostile takeover offer for iron ore developer Golden West Resources Ltd to $290 million, lifting its scrip offer to seven shares for every one Golden West share.
Fairstar Resources Ltd has announced that acceptances for its off-market takeover bid for Golden West Resources Limited have now increased further to a total of 33.73% of the issued capital of Golden West.
Fresh from its rejection of a takeover bid from Fairstar Resources Ltd, Osborne Park-based Golden West Resources Ltd has appointed former Portman Mining managing director Geoff Wedlock as chairman, following John Daniels' retirement.
Osborne Park-based Fairstar Resources Ltd has reaffirmed its commitment to a takeover of Golden West Resources Ltd, despite the bigger company officially rejecting the scrip bid yesterday.
Osborne Park-based Fairstar Resources Ltd has hit back at a claim by its takeover target, Leederville-based gold explorer Golden West Resources Ltd, that the company had failed to outline tax consequences for shareholders accepting the offer.
Leederville-based gold explorer Golden West Resources Ltd has recommended its shareholders take no action on a takeover proposal by Osborne Park-based Fairstar Resources Ltd, saying the bid "materially undervalues" the company.
Shares in Golden West Resources Ltd surged more than six per cent today after junior explorer Fairstar Resources Ltd launched a scrip-only takeover bid for the emerging iron ore producer.
The Esperance Port Authority has granted Osborne Park-based iron ore hopeful Golden West Resources Ltd an extension of time for its option over land required for developing an iron ore export facility, the company announced today.
Golden West Resources have announced the appointment of an infrastructure expert to advise the company on the development of its Wiluna Iron project in the state's north-eastern goldfields.
On 24 June 2005 and 1 July 2005, 5,312,500 ordinary fully paid shares and 250,000 ordinary fully paid shares respectively will be released from escrow.
