News Articles for Phoenix Gold

Evolution Mining has underlined its bullish outlook by doubling dividend payouts after posting record gold production, in line with its target guidance.

Gold miner Evolution Mining has lifted its full-year production guidance after strong output from recently acquired mines took production to record levels.

Evolution Mining says it's close to completing its protracted acquisition of smaller rival Phoenix Gold.

Evolution Mining appears close to finalising a protracted takeover bid for smaller rival Phoenix Gold, with both companies announcing their boards had reached an agreement after Evolution increased the cash component of its offer.

Phoenix Gold has reiterated shareholders should reject a cash and scrip takeover offer from Evolution Mining, even though a rise in Evolution's share price has boosted the value of the deal.

Phoenix Gold shareholders will be hoping for an improved takeover offer from Evolution Mining, after a proposal to acquire the business was knocked back by Phoenix directors today.

An independent expert's report has put a minimum valuation on Phoenix Gold shares of 15.6 cents, well above the two competing takeover offers for the Kalgoorlie company.

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.

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.

Chinese company Zijin Mining Group has pressed ahead with its unsolicited takeover bid for Phoenix Gold, despite Evolution Mining's recent on-market acquisitions at a price 20 per cent above that which Zijin is offering.

Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.

Phoenix Gold has taken a planned vote on an alliance with Evolution Mining off the agenda of its general meeting, being held today, after Zijin Mining Group made a play to take ownership of the company in a cash deal worth $47 million.

The tussle for control of Phoenix Gold intensified today after Zijin Mining Group struck a pre-sales agreement with one of the miner's largest shareholders, boosting its interest to 17.9 per cent ahead of announcing a cash takeover bid that values the business at $47 million.

Jonathan Price has announced his resignation as managing director of Phoenix Gold, in a board shake-up that bumped Dale Rogers up to executive chairman.

Evolution Mining has bought a large stake in a local gold mining company with tenements near La Mancha's mines and processing plant near Kalgoorlie, which Evolution is also buying.

Phoenix Gold will wrap up mining at its Kintore West project this month and suspend upcoming small mining projects to save money, as it shifts focus to developing its Castle Hill project near Kalgoorlie with joint venture partner Norton Gold Fields.

Kalgoorlie-based Phoenix Gold has raised $5 million from a placement and plans to raise an additional $1 million in a share purchase plan.

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.

Perth-based gold producer Norton Gold Fields says it has received a $32.7 million takeover proposal from its majority shareholder Zijin Mining Group.

Gold developer Norton Gold Fields has taken a stake of 10.8 per cent in Phoenix Gold, but has clarified it has “no present intention to make a takeover offer”.

Western Australian resources companies are increasingly looking to private equity players for funding as an alternative to traditional capital raisings, with more than $300 million in deals just this month.

Phoenix Gold has awarded a number of mining contracts for its Kintore West open cut mine for undisclosed amounts, as part of the company's staged development plan.

Kalgoorlie-based Phoenix Gold has agreed to purchase St Ives Gold Mining Company's heap leach processing plant near Kambalda for $2 million.

Junior resources companies are enjoying a renewed interest for capital raisings as investors return cautiously to equity markets after a dry 2013.

Phoenix Gold has announced plans to raise up to $18.2 million through a share placement and entitlement offer to fund staged development at its Castle Hill mine near Kalgoorlie.

Northern Star Resources has been recognised for excellence in the resources sector, winning the fourth annual Craig Oliver award at the RIU Explorers Conference.

Kalgoorlie-based Phoenix Gold has opted for a low cost development option at its Castle Hill project, with plans to commence production using third-party milling capacity rather than build a stand-along project.

Phoenix Gold and Aphrodite Gold have delivered some rare good news for the sector, with Aphrodite announcing plans to build a new processing plant near Kalgoorlie and Phoenix to develop a new mine.

Kalgoorlie explorer Phoenix Gold has appointed Stuart Hall to its board of directors.

With 10 out of 11 Western Australian resources-focused listings from December 2010 trading above their issue price, 2011 promises to be a strong year for minerals-related investment.