News Articles for Hartleys

The corporate regulator has strongly criticised company directors and lead managers involved in mining IPOs, saying they often have conflicts of interest, favour select clients and are focused on chasing short-term gains.

Alkane Resources has received commitments to raise $20 million through a share placement, and up to $34.8 million through a 1-for-8 rights issue, to accelerate exploration and development programs in the Tomingley gold corridor in New South Wales.

Western Australia's latest initial public offering has brought together an unlikely pairing – a tech company that has been strongly supported by venture capital investors and a stockbroking firm that has traditionally focused on the mining sector.

African-focused gold explorer Tietto Minerals announced it would raise $17 million through a share placement, primarily to fund drilling at the company's Abujar project in Côte D'Ivoire.

AusQuest is set to raise $2.4 million to advance exploration projects in Western Australia and Peru, while Sagon Resources tapped the market for $1.25 million.

Hartleys has reported a big drop in annual revenue and net profit, making it the third major stockbroking firm in Perth to have its results hit by the sharp decline in corporate finance activity over the past year.

Bardoc Gold has received firm commitments to raise $12 million through a share placement to advance its Kalgoorlie region developments.

Our weekly appointments wrap includes Andrew Van Dam, Andrew Peti, Dejan Jovanovic, Michael Parker, Sara Macliver, Jeff Ash, Tom Bromberger and Megan Bagworth.

Alaska-focused oil and gas explorer 88 Energy, formerly Tangiers Petroleum, has announced it will raise $6.75 million through a share placement to fund operations at its flagship Project Icewine venture.

Pacifico Minerals, Todd River Resources and Syndicated Metals are set to raise $4.6 million, $2.9 million and $1 million, respectively.

The recently announced sales of Perth stockbroking firms Patersons Securities and DJ Carmichael will reshape the sector's pecking order in Western Australia.

Canada-based Canaccord Genuity has struck a deal to acquire underperforming Perth-based stock broker Patersons Securities for about $25 million.

Pantoro is set to acquire a 50 per cent stake in the Central Norseman gold project from Norseman Gold in a cash and scrip deal worth $45 million, and will raise $43 million via a share placement to fund the transaction.

Failed gold miner Eastern Goldfields has released details of its planned recapitalisation strategy, with the company lodging a prospectus today for a capital raising of between $30 million and $40 million.

Listed companies Battery Minerals, Cassini Resources and First Graphene have completed share placements, with the proceeds to help fund their projects in the battery metals sector.

Struggling gold miner Gascoyne Resources has announced a share placement and rights issue at a 50 per cent discount to its previous closing price, as it seeks to pay down some of its mounting debts.

Jupiter Mines has tapped Hartleys to act as a corporate adviser, as the company re-evaluates its Central Yilgarn iron ore projects in light of improved iron ore market conditions.

Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.

Panoramic Resources has announced its intention to raise $22.4 million via two share placements and an entitlement offer, while juniors Black Rock Mining and Kibaran Resources are also involved in capital raisings.

West Perth-based Northern Minerals and ASX-listed Golden Rim Resources have announced share placements of $3 million and $2.25 million, respectively.

SPECIAL REPORT: Junior explorers are coming under increasing pressure to merge as tough market conditions hit many in the sector.

Three junior miners are undertaking capital raisings, with Amani Gold set to raise at least $3.7 million, Hot Chili $3.2 million, and $3 million for Capricorn Metals.

SPECIAL REPORT: Corporate finance dealmakers in Perth worked on just more than 800 transactions last year worth $51 billion.

Subiaco-based Birimian has announced plans to raise $8.2 million for its Goulamina project in Mali, while the lithium aspirant also flagged a business review and two separate agreements with Chinese companies.

ANNIVERSARY SPECIAL: Professional services firms in most industry sectors in WA have increasingly become aligned with international groups. This article is part of a special series to mark Business News' 25-year anniversary.

ANNIVERSARY SPECIAL: WA companies have been on the receiving end of nearly every major takeover completed during the past two decades, with Wesfarmers a notable exception. This article is part of a special series to mark Business News' 25-year anniversary.

West Perth-based Golden State Mining is set to list on the ASX tomorrow, after the company raised $4.6 million via an initial public offering.

SPECIAL REPORT: WA companies participated in 175 corporate finance transactions worth $7.6 billion in the September quarter, with one of the most complex and innovative being the recapitalisation of Eastern Goldfields.

Perth company Stealth Global Holdings will start trading on the ASX tomorrow after completing a $12.5 million IPO and paying $9 million for local firm Heatleys Safety and Industrial.

Subiaco-based copper hopeful Todd River Resources plans to raise $4.2 million for drilling work at its Mt Hendy discovery in the Northern Territory.

Goldfields Money has tapped investors for $20 million, with its planned merger with mortgage aggregator Finsure nearing completion.

Decmil Group has announced a capital raising for up to $50 million to allow the company to tender for larger infrastructure and defence contracts.

Gold miner Gascoyne Resources has announced a $19 million equity placement, along with a share purchase plan to raise up to $5 million.

Junior explorers Magnetic Resources, Golden Rim Resources and Real Energy will tap investors in separate capital raisings worth a combined $12.3 million.

SPECIAL REPORT: Western Australian companies were involved in 235 corporate finance deals worth $6.9 billion in the June quarter, with new advisory firms playing an increasing role, research by Business News has found.

Perth companies Global Construction Services and SRG have announced an agreed merger that brings together their contracting, construction and engineering services into a combined group with an expected value of $332 million.

Marine logistics company MMA Offshore has secured a three-year contract to charter one of its vessels with a subsidiary of UK-based contractor Subsea 7.

Cash Converters International has boosted its coffers with a $39.5 million capital raising, with the proceeds set to strengthen the company's balance sheet and be used to reduce debt.

West Perth-based Antipa Minerals has announced a capital raising of $3.3 million, and is planning an entitlement offer for an additional $4.3 million, with the funds to be spent on exploration work at the company's projects in the Paterson region of Western Australia.

David Flanagan-led Battery Minerals has boosted its coffers with a $20 million capital raising to fund construction of its Montepuez graphite project in Mozambique.