Perth entrepreneur Steve Tobin is gearing up for an expansion of oil and gas and minerals exploration in Australia, after selling a majority stake in Terrex Seismic to a private equity group to fund the acquisition of what he believes is a breakthrough technology.
Shares in Pilbara Minerals were up 20 per cent on news the company has inked a major offtake and $US20 million investment agreement it says will pave the way for final funding of development of its Pilgangoora lithium project.
Perth junior Salt Lake Potash has tapped investors for $17.6 million to fund development of a pilot plant at its Goldfields salt lakes project near Laverton.
Sandalwood producer Quintis has negotiated a second deferral of an option agreement that could see it having to pay nearly $34 million to buy back 400 hectares of plantations, as the company confirmed it was in advanced negotiations with a possible replacement for a key Chinese customer.
Junior explorler Azonto Petroleum has announced plans to farm-in to an oil and gas project in Canada through the acquisition of one of the project’s joint venture partners, which is owned by Perth executive Alan Stein.
Perth explorer Orinoco Gold has announced plans to buy out its joint venture partners at the Cascavel mine for $US6.3 million in cash and shares, while both its managing director and chairman have tendered their resignation.
Aspiring lithium miner Tawana Resources has raised $15 million from investors to fund ongoing development of its Bald Hill project in the Goldfields, a day after signing a $25 million offtake deal for the operation.
Bligh Resources has recommended shareholders vote in favour of an improved takeover offer by Zeta Resources, having previously backed an acquisition proposal by Saracen Mineral Holdings for its Bundarra gold project.
Neometals will be relying on third-party interest for the sale of its stake in the Mt Marion lithium mine, after joint venture partners Mineral Resources and Jiangxi Ganfeng Lithium declined pre-emptive rights to buy the stake.
Two days after Magnum Gas & Power ended plans to acquire private company Bombora Natural Energy, Perth-based Zeta Petroleum has revealed its own merger plans with the target.
A Chinese consortium is set to take control of the Dampier to Bunbury gas pipeline and several power stations across WA after regulators and shareholders today approved the $7.5 billion takeover of listed company DUET Group.
National Storage REIT intends to acquire two properties in Perth for a combined $17 million while confirming plans to develop two further sites, believed to be at Yanchep and Martin.
Carnegie Clean Energy has tripled the size of its capital raising to $18 million after accepting oversubscriptions from a share purchase plan and undertaking an additional placement.
Investment group Zeta Resources has announced plans to make an all-cash takeover offer for gold-focused Bligh Resources, competing with Saracen Mineral Holdings which had agreed to buy the target’s core asset in February.
Lithium Australia is pushing ahead with its takeover plans for Lepidico, extending the deadline by two weeks despite only a small portion of the target’s shareholders taking up the offer so far.
Eastern Goldfields has announced a $28 million capital raising and share sale facility as it works towards commissioning of its Davyhurst gold operation near Kalgoorlie.
Oil and gas explorer Transerv Energy is back looking for opportunities overseas after failing to achieve commercial success in Australia, announcing today a $4.9 million farm-in agreement over a producing operation in Canada.
Lithium Australia’s $23.8 million takeover offer for lithium-focused rival Lepidico looks set to fall short, with the bidder lifting its stake to only 18.28 per cent a week out from the offer's closing date.
Logistics and car retailer Automotive Holdings Group has acquired two dealerships in Victoria for $8.5 million plus stock and assets, in the same precinct where it is building a new Jaguar and Land Rover dealership.
After locking in a $US20 million ($A26 million) debt facility agreement last week, aspiring coal miner Paringa Resources has tapped investors for $53 million to fund development of its Poplar Grove mine in Kentucky.
SPECIAL REPORT: Western Australian stockbrokers and companies raised nearly $1.1 billion in 104 transactions in the March quarter, with gold deals being a major driver of activity, according to new data compiled for the BNiQ Search Engine.
SPECIAL REPORT: The mergers and acquisitions market was eventful in the March quarter, with Chinese and private equity investors to the fore, multiple WA businesses on the block, and a surprise advisory switch on a key takeover.
Global Construction Services hopes to gain more exposure to the commercial construction sector on the east coast through the acquisition of a Melbourne-based business for $18.4 million in cash and scrip.
Neometals hopes to reap about $US96 million ($A125 million) from the sale of its interest in the Mt Marion lithium mine near Kalgoorlie, with the operation’s joint venture partners given a pre-emptive right to buy the stake.
