The Takeovers Panel and Flinders Mines have come to agreement on a new proposal for the iron ore explorer to delist under which its biggest shareholder will lose out.
The Takeovers Panel has declared unacceptable circumstances in the proposed delisting of the Flinders Mines, giving minority shareholders of the company a victory in the feud.
Flinders Mines' second largest shareholder has submitted an application to the Takeovers Panel to prevent the company from continuing with its proposed delisting, just a day after it received a similar notice from its 12th largest shareholder.
The $6 billion Balla Balla infrastructure project has experienced two setbacks, with the deadline for meeting its obligations under a State Agreement extended by 18 months and recent exploration work failing to live up to promise.
Mineral Resources and Brockman Mining have announced plans to jointly develop a major iron ore mine that will underpin construction of a new rail line and port facilities at Port Hedland.
Two local mining companies have been forced to provide clarifications to the ASX this morning, with Flinders Mines responding to a presentation given by BBI Group, while lithium-focused AVZ Minerals told investors to ignore a Twitter post from one of its strategic advisers.
Three junior explorers have announced capital raisings worth up to $29.5 million, with Denis Waddell-led Orion Minerals tapping investors for $17.3 million.
Flinders Mines is seeking to raise $16 million to advance its Pilbara iron ore project, with the company needing to fund further work to progress the mine to feasibility stage.
SPECIAL REPORT: The value of investment into WA gold projects is about four times as much as this time last year, while growth in spending on lithium has been even more substantial.
More than $8 billion of greenfields iron ore projects are either proposed or in development, while $450 million of brownfields work is under way as the state's miners plan investments to maintain production.
A final investment decision on the state's next major greenfields iron ore project could come as early as next year, after Balla Balla Infrastructure Group today signed a state agreement with the government for a new transhipment port and rail facility in the Pilbara.
South Australian mining junior Flinders Mines has announced a capital raising of $5 million, with the company to put the cash towards a loan repayment and tenement expenditure commitments at its Pilbara iron ore project.
Pilbara-focused Flinders Mines has recommended its shareholders accept an improved takeover offer from private New Zealand company Todd Corporation that values the target at about $74 million.
Flinders Mines shares have surged after the Pilbara focused iron ore junior received a $38 million takeover offer from private New Zealand company Todd Corporation, which last year offered to buy Flinders' major project.
The Environmental Protection Authority has recommended conditional approval for Flinders Mines to expand the scope of its proposed Pilbara iron ore project.
Private New Zealand company Todd Corporation has launched a takeover bid for Pilbara infrastructure developer Rutila Resources, following news yesterday that it has struck a deal to buy an associated iron ore mine from Flinders Mines.
The owners of two major iron ore developments in the Pilbara have flagged changes to their timetable and ownership structure respectively, as they seek to deal with the sharp fall in iron ore prices.
The Environmental Protection Authority has recommended that Rutila Resources' proposed 205-kilometre railway and conveyor line in the Pilbara, which will be used to support new iron ore mines, should gain ministerial approval.
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.
Shares in Adelaide-based Flinders Mines plummeted on the stock market today after it announced a $6.7 million capital raising to complete a feasibility study on its Pilbara iron ore project.
South Australia-based Flinders Mines has appointed Ramelius Resources chief Ian Gordon as its new managing director from June, following Gary Sutherland's move to IMX Resources as managing director
IMX Resources has underlined its focus on its South Australian iron ore assets, moving its corporate head office from West Perth to Adelaide and appointing a new Adelaide-based managing director.
Flinders Mines has announced plans to raise $14.3 million through a share placement and entitlement offer to fund a bankable feasibility study and further exploration on its Pilbara iron ore project.
Aspiring iron ore miners Flinders Mines and Rutila Resources have joined forces, with backing from private New Zealand company Todd Corporation, to assess the development of an integrated rail and port project in the Pilbara.
Mining industry pundits bemoaning the end of the ‘boom' will be pleasantly surprised to know that up to a dozen major projects could go ahead over the coming year.
Brockman Mining says the price it should pay for access to Fortescue Metals Group's Pilbara railway should be no more than 88 cents per tonne, a fraction of previous estimates by FMG.
