News Articles for Patersons Securities

A US-founded tech company specialising in counter-drone systems has launched its prospectus for a $5 million initial public offering, with plans to list on the ASX by next month.

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

Perth-based junior miners MOD Resources, Primary Gold and Alloy Resources have announced plans to raise a combined $10.4 million to fund ongoing work at their respective projects

A medical research company linked to Curtin University is seeking an ASX listing through the reverse takeover of Minquest in a deal worth nearly $5 million.

The chairman of Frankland River Olive Company looks set to wholly acquire and privatise the business, after Paul Letari increased his shareholding to over 90 per cent.

Former Patersons Securities WA state manager Lewis Fellowes has been charged with using nearly $1.6 million in clients' money for his personal use, and could be looking at up to 12 years behind bars.

Troy Hayden will step down from the helm of Tap Oil as the company swings the axe on jobs and operations so it can meet its now-restructured debt repayment obligations.

Shares in local explorer Primary Gold closed nearly 40 per cent higher on news it had recruited three new board members, who also happen to be shareholders in the company.

Five junior resources companies have completed a combined $16.4 million worth of capital raisings to fund ongoing work at their respective operations.

Shares in iron ore hopeful Sundance Resources were stripped of half their value after the company announced an aggressive cost reduction strategy that includes job cuts and a reduction in board size and remuneration.

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.

After plans for a backdoor listing fell through in 2014, former New Tel boss Peter Malone has signed up Patersons Securities as lead manager for a $4 million initial public offering for his sunscreen and cosmetics company Skin Elements.

Norwood Systems and ResApp Health are small tech companies with global potential and, judging by their share price gains this month, investors have latched on to the latter.

Local explorer Rox Resources is considering either selling its Reward zinc project or spinning it out into a new company, as part of a strategic review of its projects and assets.

Perth companies Valmec and Northern Minerals have struck agreements to raise up to a combined $8.2 million through the issue of convertible securities.

Local explorers Burey Gold and Excelsior Gold a raising a combined $6.7 million to fund ongoing work at their respective gold projects.

Steven Goh's social networking company migme has raised $10 million from an oversubscribed placement to shareholders.

Perth-based rare earths explorer Greenland Minerals and Energy will undertake a $6.1 million non-renounceable rights issue to fund ongoing work at its Kvanefield project.

Naracoota Resources has announced plans to exit mining and enter the tech sphere through the reverse takeover of a health informatics company backed by Perth technology entrepreneur Nathan Buzza, in a deal worth $12.4 million.

Perth companies MCS Security Group and Intiga Security are planning to list on the ASX through a reverse takeover of Red Gum Resources, following a similar move by Threat Protect Australia, which is also pursuing a backdoor listing.

Local oil and gas explorer 88 Energy has received firm commitments for a $12 million capital raising to fund ongoing work at its Icewine project in Alaska.

Perth-based Zeta Petroleum will acquire a substantial shareholding in oil explorer Oilex, when the company completes a planned $US23 million ($A30 million) capital raising.

Subiaco-based biotech firm Phylogica has announced plans for a heavily discounted $10 million capital raising to fund development of its cancer treatment programs.

Two telco companies that provide roaming services have begun their first day of trading on the ASX today, with Norwood Systems making solid gains while Flexiroam closed flat.

Digital CC has completed a $3.5 million capital raising to fund the roll out of its remittance product AirPocket to Latin America and Caribbean markets.

Technology company Activistic will begin trading on the ASX today after being acquired by West Perth biotech firm Acuvax in a backdoor listing.

A recapitalised Stanfield Funds Management is set to resume trading on the ASX today, with a new focus on Asian technology companies and a strong Western Australian connection.

Andrew Forrest's private vehicle, Minderoo Group, has subscribed for a majority of A1 Consolidated Gold's recently announced $2.5 million convertible loan placement.

Minerals Corporation, which in 2013 was one of the first Perth-based mining companies to attempt a backdoor listing, has announced plans to exit the resources sector by acquiring an online music competition business.

Mining services company Viento Group has gone into administration, despite having won major new contracts in the past month with iron ore miners BC Iron and Rio Tinto.

Five weeks after announcing a $7.2 million rights issue, and three weeks after getting a loan from two of its directors, Viento Group has called a trading halt on its shares while it considers funding options.

Hartleys has lifted funds under management above $1 billion for the first time, a milestone that new chairman Ian Parker believes will help the stockbroking firm weather the current downturn in resources.

Fortescue Metals Group has restructured rosters for mine workers at its operations in the Pilbara, in its latest move to cope with plunging iron ore prices.

Social media company migme has received firm commitments for a $7 million capital raising, which it says was oversubscribed by $2 million.

The Australian Securities and Investments Commission has permanently banned former Patersons Securities WA state manager Lewis Fellowes from providing financial services after finding he had transferred about $1.5 million of clients' funds into his own accounts.

Viento Group has announced it will attempt to raise up to $7.23 million through a rights issue pitched at less than half its current share price.

Standout junior explorers are finding investors for their mining projects, while others are cutting back on exploration and development to counteract a tough corporate finance market and increased government fees.

Perth-based explorers Pura Vida Energy and Primary Gold have announced their intention to raise capital to fund their respective projects.

Western Australia's current home of football is to get its second new name, with Subiaco Oval to be renamed Domain Stadium for the next three years.