Deals

Mining services business Ausdrill has launched a $100 million capital raising to bolster its balance sheet, as it anticipates further growth in its African operations, and negotiated an expanded debt facility.

Three interconnected waste management businesses in Perth face a sudden change of fortune after Aurigen Group went into voluntary administration, a Thai company bought the Brockwaste plant in Shenton Park, and listed company AnaeCo positioned itself to work on the planned restart of the plant.

Poseidon Nickel has entered into an agreement with Northern Star Resources to explore the use of its Black Swan operation to process gold ore.

Local gold explorer Breaker Resources has announced an $11.5 million capital raising to fund ongoing work at its Lake Roe project near Kalgoorlie.

Labour hire company The Go2 People is hoping its geographic diversification, along with two acquisitions by its fledgling building division, will attract investor support for its $12 million initial public offering.

Monadelphous Group has continued to refine its business as it deals with tough conditions in its core Australian market, revealing today it has closed a US joint venture, opened a workshop in Houston, expanded its operations in Manila and acquired a fabrication business in Newcastle.

The restructuring of Paladin Energy has taken a surprise turn after Chinese group CNNC Overseas Uranium Holdings advised it would not exercise an option to buy the Langer Heinrich uranium mine.

Local exploration company Top End Minerals, with the backing of prominent prospector Mark Creasy, has received shareholder approval to raise funds for the purchase of a zinc project in Myanmar and repay its creditors, as it deals with a number of issues left unresolved by its previous board.

Aspiring heavy rare earths miner Northern Minerals has raised $2.5 million from investors to fund ongoing development of its Browns Range project in the Kimberley.

Gold junior Spitfire Materials has entered into an agreement to merge with Victoria-based Aphrodite Gold in an all-scrip deal that values the target at about $32 million.

Perth-based NRW Holdings has announced plans to acquire east coast contractor Golding Group for an enterprise value of $85 million.

Africa-focused lithium explorer AVZ Minerals has attracted a Chinese miner for the bulk of a $15 million capital raising, which has been priced to take advantage of a recent doubling in its share price.

Local telecommunications company ZipTel has entered into an agreement with London-based Space Digital Media for the provision of its intellectual property (IP) in exchange for a slice of revenues.

A new gold exploration company led by former Doray Minerals boss Allan Kelly and backed by Evolution Mining has announced plans to list on the ASX, whilst two other junior miners have joined the bourse after completing backdoor listings.

Local explorer De Grey Mining has progressed plans to develop its Pilbara gold project with the release of a scoping study today, which revealed a development cost of $96 million.

Red 5 has struck agreements to buy Gold Fields' Darlot mine and Saracen Mineral Holdings' King of the Hills mine for a combined $34 million in cash and shares.

Perth-based explorer Lindian Resources has announced plans to acquire a majority stake in a bauxite mine in Tanzania in a deal worth nearly $2 million, despite recently introduced legislation mandating increased government ownership of local projects and higher royalties on some minerals.

Precast concrete business WestStar Industrial has acquired a recently formed Perth concreting business in an all-scrip deal worth about $2.2 million.

Local tech company Family Zone Cyber Safety has raised $5.2 million from investors to fund growth opportunities in new markets and bolster its balance sheet.

A Perth-based investment group has lined up about $17 million to farm-in on Azumah Resources’ Wa gold project in Ghana.

Onshore oil company Buru Energy has tapped investors for $10.2 million to fund ongoing development of its Ungani operation in the Canning Basin.

Geopacific Resources has acquired a majority stake in Kula Gold after the takeover target’s largest shareholder accepted Geopacific’s recently increased offer.

Security checking business Veritas has signed a deal to piggyback Australia Post’s bricks and mortar presence ahead of an anticipated surge in demand for identity checks driven by new federal security legislation.

Three local resources companies have announced successful raisings worth a total of $12 million today, with uranium hopeful Vimy Resources, gold focused Explaurum and gold explorer Catalyst Metals all raising capital.

Recently listed tech company G Medical Innovations Holdings has attracted a $US67.5 million ($A83.9 million) deal for the sale of its smartphone jackets to a Chinese company.

Marindi Metals has conceded defeat in its Supreme Court fight against Kidman Resources over rights to the Mt Holland lithium operation, and has accepted a small settlement payout from Rox Resources over a separate matter.

Gold explorer Echo Resources has tapped investors for $5 million to fund ongoing development of its Yandal project near Wiluna.

Graphex Mining has tapped investors for $2.6 million as it moves ahead with development of its Chilalo graphite project in Tanzania, amid legislative changes to how the country’s government receives mining royalties.

Titanium Sands has raised $300,000 by way of a sophisticated investor placement of 42,857,142 fully paid ordinary shares at $0.007 per Share. 

Tempo Australia has announced the acquisition of NSW-based electrical engineering company KP Electric for up to $10.1 million.

New Century Resources has enjoyed fruitful gains on its first day of trading on the ASX after completing a reverse takeover of Perth-based Attila Resources.

Bis Industries, one of the major transport players in Western Australia, will come under new ownership after a $1 billion debt-for-equity swap deal was struck with its major lenders.