Aspire Mining is pleased to announce that pre-commitments for the minimum $1.7 million dollar raising condition of the $15m Strategic Funding package have been received.
MINING veteran Michael Kiernan has emerged from two years away from the limelight with a new manganese business in Indonesia, and plans for a listing on the Australian Securities Exchange next year
Territory Resources' board of directors has unanimously recommended its shareholders accept the $133 million takeover bid offered by Hong Kong commodities trading house Noble Group.
Territory Resources shares have jumped by 10 per cent after Noble Group trumped South African miner Exxaro Resources $123 million takeover bid, launching its own unconditional all-cash offer that values Territory around $133 million.
Iron ore junior Territory Resources has entered a non-binding agreement with its major shareholder, Hong Kong commodities trading house Noble Group, for a $20.9 million debt to equity conversion.
Territory Resources has announced a $41.3 million net profit after tax for the 2010 financial year, a $112.7 million turnaround compared to the previous corresponding period.
Shares in Territory Resources surged higher today after the iron ore miner reported a turnaround in first half earnings to book a net profit of $13.7 million.
Shares in Territory Resources have fallen eight per cent in morning trade after the company announced it has agreed to sell its stake in India Resources, as it moves to cut its debt.
Asset impairments and one-off items totalling $52.2 million substantially impacted Territory Resources' bottom line with the iron ore miner reporting a full-year loss of $71.4 million.
Territory Resources has reached an agreement with Noble Resources Limited for a 12-month extension to the loan facilities provided by Noble to the Company.
Territory Resources has executed an agreement with its financiers, hedge book facility provider and major shareholder Noble Resources for the transfer of the company's bank debt to Noble.
Territory Resources has extended its standstill agreement with its financiers until mid-August, prompted by the delay of a settlement in a benchmark iron ore price between China and the major miners.
Territory Resources has taken a sizeable $38 million hit to its half-year earnings with the iron ore miner reporting an interim net loss of $33.3 million.
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.
Monarch Gold Mining Company Ltd deputy chairman David Humann has stepped down from the boards of Territory Resources Ltd's and India Resources Ltd, a day after the gold company went into administration.
Michael Kiernan's Territory Resources Ltd has been criticised by the Takeovers Panel over comments made during the ongoing takeover battle for his old company, Consolidated Minerals Ltd.
The Takeovers Panel has delivered a highly critical report on Territory Resources Ltd and its chairman Michael Kiernan, declaring he acted unacceptably during the ongoing takeover battle for his old company Consolidated Minerals Ltd.
West Perth-based iron ore explorer Territory Iron Ltd will provide all ore from its Frances Creek Project to Hong Kong-based Noble Group after securing a life-of-mine offtake agreement with the company.
Territory Resources Ltd chairman Michael Kiernan has welcomed a decision by Consolidated Minerals Ltd to allow the company to conduct due diligence, despite what he says is its highly restrictive nature.
Territory Resources Ltd chairman Michael Kiernan plans to change the "moribund" board of takeover target Consolidated Minerals Ltd if his group succeeds in its $850 million takeover bid.
Consolidated Minerals Ltd annouced today that it has received an indicative takeover proposal from Territory Resources Ltd pitched at $3.72 per share, well above the $2.82 per share currently being
West Perth-based iron ore explorer Territory Iron Ltd chairman Michael Kiernan will commence work at the company in an executive capacity after managing director Doug Stewart advised he would retire from the company in late July.
Shares in West Perth-based Territory Iron rose strongly today after the company raised $30 million through a share placement to Crawley Resources Ltd, jointly owned by Noble Group Ltd and Michael Kiernan.
Emerging Western Australian iron ore producer Territory Iron Ltd has signed an agreement with a Chinese steel mill for most of the Frances Creek 2007 iron ore production.
Western Australian-based Territory Iron Limited announced today that the Northern Territory government will provide $2.86 million towards infrastructure at the Port of Darwin.
Perth iron ore junior Territory Iron has announced approval for the development of its Frances Creek iron ore mine in the Northern Territory following a preliminary feasibility study, which highlighted the strong economic viability of the project.
With the major iron ore miners lifting production to cash in on continuing strong demand from China, the growing number of small emerging producers shows no signs of slowing down.
