The Bulls N' Bears ASX Runner of the Week is… Entertainment Rewards, after it copped a fat takeover bid from its top shareholder at ten times its market value. Litchfield hit a copper-zinc monster in the Top End, Morella Corp pulled near-perfect rubidium from its WA pegmatites and TrivarX nabbed brain cancer imaging IP, backed by a biotech bigwig, showing small caps can shine amid gold's glare and global jitters.
Our board moves wrap includes Ashley Zumwalt-Forbes, Nicholas Poll, Robert Mosig, Teow Kim Chng, Peter Christie, Scott Lowe, Andrew Taplin, Matthew Keane, Kathleen Bozanic, Alex Cheeseman, Adrian Griffin, Stephen van der Sluys, Nic Matich, and Ben Grguric.
ASX-listed companies have detailed roughly $2 billion in JobKeeper payments spanning the last two financial years, with only a handful making voluntary repayments.
The noteholders in one-time lithium producer Altura Mining are set for a windfall gain, after the value of shares they are due to receive in Pilbara Minerals rocketed.
The board of Pilbara Minerals has approved the restart of a lithium plant it acquired from Altura Mining, expected to boost the company's overall production.
Lithium miner Pilbara Minerals has achieved record quarterly production from its Pilgangoora operations in WA while signalling an uptick in demand for spodumene concentrate.
Pilbara Minerals has moved closer to gaining control of Altura Mining's key asset after striking a $US175 million agreement with the lithium miner's receivers and managers.
Galaxy Resources, Pilbara Minerals and Altura Mining will receive a 50 per cent rebate on royalties paid, due to the declining spodumene concentrate price.
Pilbara Minerals has lodged a $US175 million bid for fellow lithium miner Altura Mining, though Altura is working on its own recapitalisation plan after being put in receivership.
Perth-based lithium producer Altura Mining has been placed in receivership after the ASX-listed company was unable to refinance its debt, placing 100 jobs at risk.
Civmec has filed a statement of claim against Altura Mining's lithium subsidiary, with the contractor alleging it is owed $4.5 million in compensation.
Lithium producer Altura Mining has received a three-year extension on its existing $244 million loan facility, but at a price of adding 5 per cent to the total loan amount and issuing additional shares to the lenders.
At least $1.6 billion of equity has been raised by WA-linked critical minerals hopefuls in the past five years, but achieving consistent returns is another battle.
Altura Mining has announced plans to raise approximately $21.5 million through a rights issue to primarily fund works on its flagship lithium operation in Western Australia.
Gold Road Resources and Silver Lake Resources will join the S&P/ASX 200 index, while Seven West Media was among the losers in the indices reshuffle, as the quarterly rebalance of the S&P/ASX indices was announced today.
Galaxy Resources has confirmed interest in striking a downstream processing deal with Alita Resources' offtake partner, just a day after placing the lithium miner into receivership, while Talison is reconsidering the timing of its $516 million stage three expansion project at Greenbushes.
Galaxy Resources said it expects to record a non-cash impairment charge of between $US150 million ($222 million) and $US185 million ($274 million) for the first half of 2019, reinforcing the current bleak conditions in the lithium sector.
Altura Mining has recorded solid June quarterly results, but its share price still dropped, amid concerns of a supply and demand imbalance in the lithium sector.
Ningbo Shanshan, which last month became Altura Mining's largest shareholder, has invested an additional $22.4 million in the lithium miner via a share placement.
Altura Mining and Pilbara Minerals have struck offtake agreements with Chinese firms for lithium concentrate from their respective Pilgangoora projects.
Shares in Altura Mining have surged 37 per cent since late Wednesday, after the company announced positive production results and its struggling former biggest investor sold its remaining stake in the company.
Altura Mining has declared its Pilgangoora lithium project is now producing commercial amounts of lithium, while increasing its share purchase plan from $5 million to $10 million.
Altura Mining has announced it its closer to the production target at its Pilgangoora lithium project, after it made improvements to the processing plant.
Altura Mining has announced details of a capital raising to fund its Pilgangoora lithium project in the Pilbara, with company directors contributing $15.46 million towards the financing package.
Lithium producer Altura Mining has entered a trading halt, with a plan to raise about $30 million for working capital, a day after it reported production at its Pilgangoora processing plant was improving.
This week's board moves wrap includes Chris Evans, James Brown, Bradley Boyle, Neil Hackett, Peter Spitalny, Mike Young, Tomer Segev, Eran Gilboa, Justin Walawski, Wen Qian, Jason Livingstone, Robert Klug, Paul Kitto, Paul Burton and Mark Strizek.
Processing plant problems at Altura Mining's Pilgangoora lithium mine have slowed output ramp-up, with about 24,000 tonnes of lithium shipped so far from the 220,000tpa facility, nearly six months after production began.
Lithium producer Pilbara Minerals has resolved to approve the stage two expansion at its Pilgangoora mine once all necessary approvals and funding have been secured.
