News Articles for Lazarus Corporate Finance

Almonty Industries has been one of the top stocks on the ASX this year but its rise has brought forth an expensive options dispute for director Andrew Frazer.

Administrators for Wiluna Mining will investigate details of a last-ditch capital raising that collected less than the company reported to the ASX in the weeks before its collapse.

Wiluna Mining is on track to collect $63.4 million in much-needed capital from shareholders for its namesake gold project, around $20 million less than it had sought to raise.

West Perth-based Wiluna Mining is offering shares at more than a 40 per cent discount to raise a minimum $50 million to bring its namesake gold project up to speed.

Wiluna Mining is hoping to complete a capital raising, likely to be $25 million or more, as it seeks to complete development works at its Mid West gold operation.

Triton Minerals is raising $10 million for its Ancuabe graphite project in Mozambique.

The spinout company of GWR Group focused on exploring for gold in Western Australia has listed on the ASX after raising $7 million.

A Canadian miner planning a big project in South Korea is aiming to list on the ASX after signing up stockbroker Andrew Frazer as a director and underwriter.

GWR Group has revealed plans to demerge its Wiluna West gold project into a new listed entity, following a major resource upgrade.

Sandfire Resources has raised its stake in Auris Minerals to nearly 20 per cent, as part of its move to sell a gold project in New Zealand.

Gold explorer Breaker Resources is raising funds to advance drilling activities and resource growth at its Lake Roe project in Western Australia.

Primewest has postponed the spin-out of a new $285 million commercial property trust, citing market volatility, with Macquarie Bank and rent.com.au among other listed companies to change their capital raising plans.

DXN has signed a purchase agreement with telco services provider TasmaNet to acquire its data centre in Hobart, while announcing plans to raise $6 million to fund the acquisition.

Biotech company Zelira Therapeutics has received commitments to raise around $4.6 million from a share placement, while rent.com.au is planning an underwritten $2.9 million rights issue.

WA-based juniors Titan Minerals, Coziron Resources, Galan Lithium, Anglo Australian Resources, and Big River Gold have announced share placement activity on the ASX today.

Perth finance executives Andrew Frazer and Simon Lill have agreed to a strategic alliance between their respective businesses.

Three local junior explorers have raised more than $21 million, with Draig Resources and Triton Minerals boosting their coffers while the Charlie Bass-led Eagle Mountain Mining has commenced trading on the ASX after raising $8 million via an initial public offering.

Minerals explorer Nelson Resources started trading on the ASX today after raising $5 million from investors by way of an initial public offer.

Gold junior Orinoco has tapped investors for a near-$5 million capital raising and a $3 million investment by AngloGold Ashanti, as it progresses development of its Cascavel operation in Brazil.

Financial services firm Merchant Group has announced plans to merge with investment bank and funds manager Somers & Partners.

Recently revived Triton Minerals has made stellar gains on its return to the ASX today, after raising $14.1 million and exiting voluntary administration with a new board and management team.

Panoramic Resources has finalised plans to spin-out its Gum Creek gold project through the partial divestment and ASX listing of its Horizon Gold subsidiary, with a $15 million initial public offering launched today.

Shares in HotCopper Holdings got off to a bright start today after the investor chat forum listed on the ASX, with the stock closing up at 26.5 cents.

Local explorers Danakali and Duketon Mining have raised a combined $11.6 million to fund ongoing work at their respective developments.

Investor interest has swung strongly towards the resources sector this year, but opportunities remain for tech companies aiming to list on the ASX.

Investor chat forum HotCopper is aiming to list on the ASX in September after lodging a prospectus that reveals a big sell-down by existing shareholders and an expected loss in the current financial year, and makes no mention of outgoing managing director Greg D'Arcy.

Triton Minerals is set to get a second chance after administrators Ferrier Hodgson released control of the business to a private gold company and a corporate finance firm, which will raise a combined $14.1 million and relist the graphite explorer on the ASX.

Six listed resources companies operating in commodities as diverse as gold, lithium and iron ore have announced a collective $36.9m in capital raisings today.

Panoramic Resources has today confirmed plans for a spin-out of its Gum Creek gold project into a new ASX-listed company, while Metals X is considering the possible sale of its Rover gold project.

A corporate finance firm and a private gold company have put forward competing proposals to recapitalise troubled graphite explorer Triton Minerals.

Shares in local explorer Manas Resources have doubled in value on news the company has entered into an agreement to acquire the Victoria gold project in Tanzania from a private Italian group for $US4 million ($A5.4 million) in cash and shares.

Junior gold miners Dynasty Resources and Orinoco Gold have announced plans to raise a combined $2.6 million to fund ongoing work at their respective projects.

Local explorer Capricorn Metals has raised $12.6 million from investors to fund development work on its recently acquired Karlawinda gold project near Newman.

Western Areas and Panoramic Resources have announced plans to raise a combined $80.7 million from investors to continue work at their respective nickel operations in Western Australia.

Subiaco-based Triton Minerals has been placed into voluntary administration, only two days after the graphite explorer's recently appointed chief executive Garth Higgo said it was well poised to advance its projects toward production.

SPECIAL REPORT: Livestock exporter Wellard has had a rocky start to life as a listed company after completing Western Australia's second-largest capital raising of 2015, and the state's sixth-largest initial public offerings of all time. Wellard's $299 million IPO was one of the few high points of 2015, when a lack of mining deals led a sharp slide in overall capital raising activity.

Stockbroker Andrew Frazer is planning to keep together his 12-strong team in Perth and Sydney, after current backer GMP Securities announced a major restructuring of its international operations.

Local companies Triton Minerals, General Mining Corporation and Orinoco Gold have announced plans to raise a combined $24.6 million to fund ongoing work at their respective projects.

Graphite-vanadium explorer Triton Minerals has announced an $11.3 million partially-underwritten entitlement offer at 15 cents a share.

Local explorer RNI has sold its shareholding in Metals X for $23.4 million to pay off all its debt and fund new drilling work on its copper tenements in the Bryah Basin.