Magmatic Resources and Fortescue have agreed to a $3.5 million exploration budget at their Myall joint venture, with drills set to turn on the Calais prospect.
In tough recent times for many junior mining companies on the ASX, luring a financially-powerful “big dog” onto the share register to provide some much-needed muscle has become a common boardroom pursuit. Bulls N' Bears takes look at some of those companies which have received both a timely cash injection and a share price boost up to recent highs.
Andrew Forrest-backed Fortescue has acquired a 19.9 per cent stake in Magmatic Resources, in addition to its farm-in, joint venture agreement with the company.
Our board moves wrap includes Peter Duerden, David Flanagan, Jonathan Downes, Richard O'Shannassy, Adam McKinnon, Andrew Ferrier, David Nour, Hannah Hudson, and Russell Thomson.
Our board moves wrap includes Jimmy Lim, John McKinney, Martin Buckingham, Attilenore Austria, Peter Hume, Pine van Wyk, Robert Martin, Michael Leu, Jess Oram, David Sproule, David Flanagan, Brett Lambert, and Greg Durack.
Magmatic Resources has secured commitments to raise $5 million from a share placement to explore its tenements in the East Lachlan gold-copper province in NSW.
AusCann Group Holdings has announced changes to its board as it progresses towards the next stage of growth and development as a cannabinoid-focused pharmaceutical company.
Our daily board moves wrap includes Amanda Buckingham, Bruce Munro, Hamish Tyrwhitt, Michael Finnegan, Andy Viner, Bilyana Smith, Andrew Hagen, and Anthony Brown.
Maiden drilling by Magmatic Resources at the MacGregors gold prospect in central NSW has identified a 2km-long belt of gold mineralisation and doubled the best gold grades achieved by previous explorers. The latest results have established MacGregors, part of the Parkes JV with Japan's JOGMEC, as the company's third highly prospective gold project less than a year after listing on the ASX.
Emerging Western Australian nickel company St George Mining is pleased to announce it has successfully raised $4.0 million from institutional and sophisticated investors via a placement at an issue
About a quarter of ASX floats in the six months to June were undertaken by Western Australian companies, but the total amount raised is falling according to a new report.
A new Perth-based gold and copper exploration company has closed flat on its first day of trading on the ASX, after completing a $4 million initial public offering.
