The long-running process of winding-up companies associated with former mining high-flyer Michael Fotios has progressed after a debtors' deed for Delta Resource Management was approved.
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.
Auris Minerals chairman Bronwyn Barnes and independent director Susan Vearncombe have been voted off the company's board, after a group of dissident shareholders gained enough support to pass a number of resolutions at a special meeting today.
Auris Minerals chairman Bronwyn Barnes has disclosed that some of the people seeking to oust her had been negotiating a farm-in proposal last year without the knowledge of the company's board.
The Takeovers Panel is at the centre of two disputes, with Indiana Resources having a partial win today while a Melbourne company with Perth-based shareholders fights a board spill of its own.
West Perth-based oil and gas explorer Target Energy has tapped its major shareholder Wyllie Group for $3 million through a convertible note issue, and is undertaking an entitlement offer to raise up to $2.9 million.
Major private investment player Wyllie Group has cut direct ties with mining dealmaker Michael Fotios's investment syndicate, Investmet, a significant backer of junior resources companies and other speculative opportunities.
Northern Star Resources has announced that director Michael Fotios has resigned from the company's board and will take up a position as a consultant to the gold miner.
Redbank Copper shares had a lukewarm return to trading today, closing at 0.4 cents after a major restructuring and recapitalisation led by investor Michael Fotios.
Northern Star Resources shares have slumped sharply on the ASX today, after the gold miner announced that its major shareholder and members of its board of directors had agreed to sell a combined 1
Long-running efforts by Michael Fotios' investment company Investmet to revive Swan Gold Mining and related companies Stirling Resources and Redbank Copper have hit a major hurdle.
MINING veteran Michael Kiernan has emerged from two years away from the limelight with a new manganese business in Indonesia, and plans for a listing on the Australian Securities Exchange next year
Perth-based investor group Investmet Limited has agreed to underwrite a complex recapitalisation of Swan Gold Mining, adding to a string of mining deals it has undertaken this year.
