Local explorer RNI has sold its shareholding in Metals X for $23.4 million to pay off all its debt and fund new drilling work on its copper tenements in the Bryah Basin.
Local explorers Encounter Resources, Horseshoe Metals and RNI have announced plans to raise a combined $9.8 million to fund ongoing work at their respective projects.
RNI shareholders lodged a big protest today, with many voting against resolutions at a general meeting, which was held three days after the debt-laden gold company extended the timing of its $25 million entitlements offer for a second time.
RNI shares lost more than a fifth of their value after the company announced its financing deal with a London-based fixed interest fund had fallen through.
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.
Former executive chairman of the Kimberley Diamond Company, Miles Kennedy, has left the role of managing director at Lucapa Diamond Company as part of a board restructure.
Shares in Perth-based junior Lucapa Diamond Company have surged on news it has signed a 35-year licence to mine alluvial diamonds at the Lulo diamond concession in Angola.
Metallurgist Royce McAuslane has been appointed managing director of mineral explorer RNI, while chairman Miles Kennedy will move to a non-executive role effective immediately.
Shares in Subiaco-based explorer Resource and Investment have closed higher on the back of strong drilling results at the company's Grosvenor copper-gold project in the Bryah Basin.
Shares in Subiaco-based explorer Resource and Investment have closed the day's trade higher after feasibility studies revealed low operating costs at its gold projects near Meekatharra.
While most media attention seems focused on iron ore and the major operators, there's a number of smaller players offering plenty of potential across a range of minerals. Here's the WA Business News 10 mining stocks to watch.
WHILE most of the state was taking a breather over the festive season, three Western Australian companies were busy tying up backdoor listing deals that radically change their areas of operation.
Shares in Simon Lee-chaired Medical Corporaion Australia (MOD) have almost trebled in value this morning after the company announced it will assist Miles Kennedy's resources explorer Amphion International with a back door listing.
Resources veteran Miles Kennedy has tendered his resignation as non-executive chairman at Sandfire Resources which the company said is part of a planned restructure of its Board.
The revolving door outside the boardroom of budding aquaculture producer Marine Produce Australia, which has been spinning fast for the past year, hit top speed this month.
