News Articles for Metals X

Perth security company Threat Protect Australia marked its listing on the ASX today with news it has completed due diligence on one of two planned acquisitions.

Local miner Metals X has announced a 9 per cent increase in net profit to $40.9 million for the 2015 financial year, on the back of higher revenue from gold sales.

Three fast-growing gold miners have undertaken further expansion moves in Western Australia, with Evolution Mining announcing its intention to make a takeover offer for Phoenix Gold.

New gold mining projects under way or in advanced planning will collectively deliver more than 1 million ounces to production each year when operational.

The past year has marked a period of major change at many of WA's gold producers in terms of personnel and pay.

Gold is a rare bright light in the mining industry, with major changes during the past two years to be followed by the opening of multiple new mines and more M&A deals. Click through to find the special report, which ranks WA producers, and looks at Gold Corp, executive pay, and new gold projects.

Panoramic Resources has responded to the slump in nickel prices by halting production in the Deacon orebody at its Lanfranchi project, resulting in half the project staff being laid off over the weekend.

RNI shares leapt this morning on news that the company is selling its Grosvenor gold project to Metals X in a scrip deal that will help the company refocus on its copper assets.

Local miner Metals X has reached an agreement with Northern Mining to acquire the Georges Reward gold project at Bulong in Western Australia for a cash sum of $4.5 million.

Aziana has received firm commitments from its two largest shareholders for a $4 million capital raising it is undertaking as part of its reverse takeover of US-based biotech firm BrainChip.

Shareholders in Tanami Gold have overwhelmingly supported a tie-up with Northern Star Resources, despite the threat of legal action from rival miner and would-be partner Metals X.

Metals X has issued a stern warning to Tanami Gold claiming it would be financially unwise to accept Northern Star Resources' bid for the Central Tanami gold project over its own proposal.

The March quarter was a quiet period for M&A transactions in WA, although the deals that were announced attracted their fair share of controversy. Click through to see details on 78 WA deals worth $2.4 billion.

Aziana was one of three Perth exploration companies to release details today of plans to leave the resources sector behind, through reverse takeovers of businesses in sectors as diverse as artificial intelligence, medical cannabis and e-commerce.

West Perth-based miner Metals X has hit back at Northern Star Resources' bid for Tanami Gold's Central Tanami project with claims that the deal conflicted with legally-binding obligations.

Two of Western Australia's most successful gold miners are competing to gain control of Tanami Gold's Central Tanami project, indicating the growing investor interest in the gold mining sector.

Metals X has agreed to acquire a 25 per cent stake in Tanami Gold's Central Tanami gold project in the Northern Territory for $11 million in cash and 4 million shares.

The strong rise in the Australian dollar gold price has encouraged gold companies to press ahead with low-cost mine developments, despite uncertainty over royalties.

Metals X is aiming to become one of Western Australia's biggest gold miners after announcing updated plans to develop its Central Murchison project, with mining to set to commence in July this year.

Three aspiring gold miners have announced an increase in projected free cash flow for their respective projects as a result of the strong gold price, coupled with falling fuel costs.

Tin and gold producer Metals X will reward shareholders with an $11 million dividend, the first since the company was listed over a decade ago.

West Perth-based miner Metals X has completed a $40.4 million pre-pay arrangement with Citibank for the production of over 30,000 ounces of gold.

West Perth-based miner Metals X has reported a 332 per cent full-year profit increase to $37.4 million, alongside a 247 per cent surge in revenue to $238.6 million.

Western Australian based stocks rose 18.9 per cent in the twelve months to Hune 30, but most of the gains were in the first six months of that period, according to the Deloitte WA Index released today.

Perth exploration firm Hannans Reward has entered into a joint venture agreement with Reed Resources for 20 per cent interest in its Lake Johnston nickel sulphide project west of Norseman.

Metals X has been forced to increase the price it is paying for Reed Resources' Meekatharra gold project to $9.9 million after administrators announced a surprise competing bid had been lodged just before a creditors meeting on Thursday.

Metals X has bought the Meekatharra gold operations for $7.7 million less than a year after the holding company – a subsidiary of Reed Resources – was placed into the hands of administrators.

Shares in West Perth-based miner Metals X have closed higher after the company announced it had negotiated a restructured royalty agreement at its Higginsville gold operations.

The value of mergers and acquisitions in the Western Australian gold sector over the past 12 months has reached close to $650 million, analysis by Business News has found.

Saracen Mineral Holdings has purchased the Thunderbox gold project from Norilsk Nickel for $23 million, in a deal which could double the company's production to up to 270,000 ounces per year.

Toronto-based gold miner Alacer Gold has agreed to sell its Australian operations to a subsidiary of Perth-based explorer Metals X for $40 million.

Metals X has become the latest Western Australian exploration play to down tools because of prevailing pessimism in the sector, suspending work on a definitive feasibility study at its Wingella nic

Scott Huffadine has been appointed as deputy chief executive officer of Straits Resources, commencing 1 May.

Diversified explorer Metals X has signed SNC-Lavalin Australia as lead engineer for a definitive feasibility study at its Wingella nickel-cobalt project in the north-east of the state.

Tin producer Metals X and gold miner Westgold have announced a merger plan to create a $330 million diversified resources group.

Consolidated Minerals has sold its 24.7 per cent shareholding in Jabiru Metals, with East Perth-based Metals X picking up a 19.99 per stake in the miner.

East Perth-based Metals X will pocket a total of $76 million after the Foreign Investment Review Board today approved a project acquisition by a Chinese entity and an equity investment by another.

East Perth-based Metals X has entered into a farm-in and joint venture agreement with Rio Tinto over a nickel and copper project in South Australia.

East Perth-based Metals X will pocket more than $16 million after its largest shareholder, Hong Kong company APAC Resources, agreed to lift its interest to 28.3 per cent.