Chinese-owned mining company Perilya will take a 20 per cent stake in Myanmar Metals as part of a planned capital raising worth up to $35 million to fund its share of the Bawdwin base metals project.
The sale of 16 private businesses worth an estimated $500 million helped to sustain activity in what was otherwise a depressed market for mergers and acquisitions in the September quarter in Western Australia.
Diversified miner and explorer Perilya says it will tap shareholders for up to $110 million to pay off debts accrued through the acquisition of Globestar in January, continue the development of the
Perth-based miner Perilya has given the green light for the development of the Potosi/Silver Peak zinc-lead-silver project, near Broken Hill in New South Wales.
Chinese-controlled Perth miner Perilya has unveiled a friendly $186 million takeover of Canadian copper miner GlobeStar Mining Corporation that will see the base metals producer spread its wings to the Caribbean and Canada.
Miner Perilya has launched a $55 million fully underwritten rights issue with funds to be applied towards organic growth and deliver projects that will complement its existing operations.
Miner Perilya has described fiscal 2009 as a "tale of two halves" with the first half recording a $77.2 million net loss while a new operating plan resulted in a $2.1 million net profit in the second half.
Takeover target Perilya says it has lodged its "concerns" to market and corporate watchdogs over suitor CBH Resources' response to a $45 million placement to a Chinese company.
Miner CBH Resources has slammed the board of its takeover target Perilya over the recommendation to shareholders to approve a $45 million share placement to a Chinese company.
Takeover target Perilya has urged shareholders to vote in favour of a $45 million major acquisition by a Chinese company, in what has been described as "not fair but reasonable" by an independent expert.
Takeover target Perilya Ltd said an update on resources at its downsized Broken Hill lead and zinc mine could "significantly" extend the mine's life, based on conservative metals prices, beyond the previously advised three years.
Perilya Ltd will retain its Mount Oxide copper project after buyer Chalice Gold Mines Ltd asked for the acquisition deal to be terminated amidst the fall in commodity prices.
Takeover target Perilya Ltd said it is open to CBH Resources Ltd's bid for the company, but advises a merger at a time of market volatility could expose shareholders to additional risks.
THE roll call of Western Australian businesses directly affected by the global credit crunch grew suddenly during the past week, with several listed companies changing their plans in response to the meltdown on Wall Street.
The potential merger between CBH Resources Ltd and Perilya Ltd will have to go ahead without the Mount Oxide copper project, after formal agreements were executed for the $20 million scrip sale.
Zinc producer CBH Resources Ltd has launched a hostile $65 million takeover bid for Perilya Ltd, just over two months after the companies terminated a friendly merger proposal.
Shares in Perilya Ltd have dropped by over 40 per cent on news it will sell its Mount Oxide copper and cobalt project to West Perth-based Chalice Gold Mines Ltd in a scrip deal worth $25 million.
Perth-based Perilya Ltd is considering its options over the Mount Oxide project as higher copper prices push the project onto the radar of several overseas and local companies.
Lead and zinc miner Perilya Ltd has been granted a trading halt, saying that its merger with fellow mid tier miner CBH Resources Ltd is nearing completion.
Perth-based Perilya Ltd and Sydney-based CBH Resources Ltd have announced a $489 million merger deal to form a globally significant producer of lead and zinc.
Base metals miner Perilya Ltd chairman Patrick O'Connor has taken an executive role to oversee a strategic review of the company during the March quarter of 2008.
Announced that it has sought expressions of interest from selected parties regarding a possible divestment of its Australian gold business, including the Daisy Milano gold mine.
Perth-based gold and base metals miner Perilya Ltd has posted an annual unaudited net profit of $67 million, up from a $6.1 million loss from the 2004-05 financial year.
