IGO has struck another farm-in deal in the Fraser Range, agreeing to fund exploration at Matsa Resources' Symons Hill nickel project, with the potential to secure a 70 per cent stake over the next three years.
Metals X has signed a $32 million farm-in and joint venture agreement with IGO, which will explore the company's copper operations in the Paterson province, while also announcing the potential restart of its Nifty operations.
Legend Mining has launched a $20 million share placement to progress its nickel-copper project in the Fraser Range, while fellow Western Australian explorers Auroch Minerals and Xantippe Resources have also announced capital raisings.
Nearly 50 drilling projects will be funded through the state government's Exploration Incentive Scheme, with winners including big businesses such as AngloGold Ashanti Australia and Rio Tinto.
IGO is expecting a strong finish for the 2020 financial year after posting an increase in quarterly production for all metals at its Nova mine, including a record copper output.
Galileo Mining has received commitments to raise $5 million through a share placement, including from IGO, as it seeks to ramp-up exploration activities at its Fraser Range project in Western Australia.
Encounter Resources announced today that mid-tier miner IGO plans to build on their existing partnership by entering a farm-in and joint venture deal in the Paterson Province in the Pilbara.
Shares in Panoramic Resources have plunged by more than 33 per cent, falling to their lowest price since 2016, after the company downgraded production guidance for the underground Savannah mine in the Kimberley.
Nickel miner Panoramic Resources has reported a 72 per cent take-up by shareholders for the retail component of its underwritten $32.7 million entitlement offer, helped by support from major shareholder Zeta Resources.
Independence Group's Nova and Tropicana mines in Western Australia have achieved strong preliminary results, with first-half metal production exceeding guidance by around 9 per cent and 10 per cent respectively.
Mincor Resources has reported a surge of demand for the company's stock, with a $5 million share purchase plan closing early and oversubscribed, while Titan Minerals has secured $3.5 million for its Peruvian exploration operations.
Panoramic Resources has formally rejected the takeover bid from Independence Group and confirmed it is seeking to raise $31 million to fund its operations, including the underperforming Savannah nickel mine.
Perenti Global subsidiary Barminco has piloted its new remote operations centre with a Goldfields mine, following several successful trials earlier this year.
Panoramic Resources and Independence Group have entered into a confidentiality deed which allows IGO to conduct due diligence on Panoramic and its Savannah nickel mine, in relation to an off-market takeover offer launched earlier this month.
Perth-based Mincor Resources has received commitments to raise $30 million through a placement, backed by major shareholders Andrew Forrest and Independence Group, and is looking to raise a further $5 million through a share purchase plan.
Takeover target Panoramic Resources revealed today operational performance at its Savannah nickel project would be below previous forecasts over the next four months and that it would need to raise extra capital, with bidder Independence Group saying it would now review its offer.
Panoramic Resources has advised shareholders not to take action in respect of the off-market takeover offer launched last week by Independence Group, while also criticising some of the conditions attached to the offer.
Legend Mining has kicked off its next phase of exploration at its Rockford project in the Fraser Range of Western Australia. A two-hole, 1000 meter diamond program has now commenced that will test for nickel-copper sulphide mineralisation at the D1 and D5 prospects. These new prospects were identified by a low-frequency moving loop electromagnetic survey in some of the area's most prospective nickel-copper ground.
Independence Group is planning to take advantage of nickel miner Panoramic Resources' operational issues and boardroom changes by launching a hostile scrip takeover bid.
Mineral Resources has terminated a joint venture agreement with Hexagon Resources, while Independence Group bolstered its JV deal with Buxton Resources.
Directors of several Perth-based ASX-listed companies have undertaken substantial share transactions in the past fortnight, with Peter Bradford, Peter Cook and John Welborn among those taking advantage of the trading window after the release of their annual results.
Independence Group has reported a 44 per cent leap in full-year net profit on the back of strong production from its Nova nickel mine and Tropicana gold joint venture project.
Independence Group has exceeded production guidance at its Nova project, but costs at the operation were also higher than expected and are forecast to increase even further this financial year.
A series of new contracts and extensions, including an early contractor involvement arrangement with Hazer Group, has brought Primero Group's forecasted FY19 revenue to approximately $150 million.
Legend Mining has raised $9.8 million via a share subscription agreement with Independence Group, and signed joint venture agreements with IGO and Mark Creasy's Creasy Group at Fraser Range.
Mincor Resources has raised $18 million in a share placement and is seeking to secure an additional $5 million via a share purchase plan to facilitate the restart of its Kambalda nickel operations.
Mincor Resources is moving closer towards a revival of its nickel operations after it acquired the Long mine from Independence Group for up to $9.5 million and announced a capital raising.
Tropicana gold project joint venture partners AngloGold Ashanti and Independence Group have approved the development of a new underground mine at a cost of $105 million.
A pre-feasibility study released today by Peter Bradford-led Independence Group has confirmed the viability of an underground mine at the Tropicana gold project.
ANNIVERSARY SPECIAL: WA's mining industry has undergone a dramatic transformation over the past quarter of a century, with iron ore replacing gold as the state's most valuable commodity.
Two local junior explorers have announced capital raisings, with Arafura Resources to launch a $3 million share purchase plan and Encounter Resources receiving a $1.8 million investment from Peter Bradford-led Independence Group.
