Deals

Michael Fotios’s Eastern Goldfields has made its second strategic investment this week, announcing today a $6 million deal to earn-in to Windward Resources and Mark Creasy’s nickel and gold portfolio in the Fraser Range.

Volunteer groups Community Mates and Big Help Mob are the third NFP pair in WA to amalgamate within the past month.  

Gold miner Troy Resources has launched a $40.7 million capital raising to shore up its balance sheet and fund further development of its Karouni mine in Guyana.

Drilling services company Imdex has tapped investors for $40 million, with plans to raise a further $5 million as it seeks to shore up its balance sheet.

Energy giant Woodside Petroleum has entered into an agreement to buy half of BHP Billiton’s stake in the Scarborough offshore gas fields in the Carnarvon Basin for up to $US400 million ($A528 million).

Elemental Minerals has finalised a $US50 million ($A66.4 million) equity injection with three investment groups to fund development of its Kola Sylvinite potash project in the Republic of Congo.

Local businesswoman Sharon Warburton has resigned from the board of live cattle exporter Wellard, which has missed its prospectus forecasts on revenue, profit and margins to book a $23.3 million net loss.

Venture capitalist Anthony Grist has raised almost $10 million joining fellow board member and his private investment partner James Spenceley in selling down stakes in Vocus Communications to focus on the next generation of investments.

Local gold and lithium explorer Berkut Minerals has enjoyed steady gains on its first day of trading on the ASX after completing a $3.5 million initial public offering.

Two Perth-based not for profits have teamed up to combine cancer support services, with SolarisCare and Cancer Support WA announcing their plans to merge. 

Recently-listed technology company Peppermint Innovation will supply its remittance system to a bank based in the Philippines under a new partnership deal.

Evolution Mining will pay Glencore $880 million in a deal to take an interest in the Ernest Henry copper and gold mine in Queensland.

Woolworths has announced its exit from the home improvement sector, with all of its Masters stores to close in early December and the properties to be redeveloped by a private consortium, while its Home Timber & Hardware business is to be sold to Metcash.

Perth-based Sheffield Resources has tapped investors for a $17.1 million capital raising to fund completion of a bankable feasibility study on its $271 million Thunderbird mineral sands project near Derby.

Ventnor Resources has sold its stake in the Thaduna/Green Dragon copper project to joint venture partner Sandfire Resources.

Local aquaculture firm Seafarms Group has announced its second capital raising in the past two months, this time tapping investors for $11 million to fund ongoing work at its $1.45 billion Sea Dragon prawn project.

Blackham Resources has completed a $25 million capital raising ahead of achieving first production at its Matilda gold project near Wiluna.

Automotive Holdings Group has announced plans to raise up to $110 million from investors and purchase two car yards on the east coast, on the same day it revealed an increase in full-year profit.

Local explorer Geopacific Resources has kicked off a $15 million capital raising to fund the earn-in and development of the Woodlark gold project in Papua New Guinea.

Graphite hopeful Kibaran Resources has received firm commitments for a $10.9 million capital raising to fund development work at its Epanko project in Tanzania.

Junior miner Kidman Resources has tapped investors for $21 million to fund exploration work at its gold and lithium deposits in the Goldfields.

Perth-based Rox Resources accepted a revised offer from Marindi Metals for its stake in the Reward zinc-lead project in the Northern Territory, with the new cash-and-scrip deal worth $21 million.

Local explorers Danakali and Duketon Mining have raised a combined $11.6 million to fund ongoing work at their respective developments.

Apartment developer Finbar Group has unveiled plans to build a three-tower residential complex in Applecross, with the project expected to fetch $350 million.

Local minerals explorer Kasbah Resources has received a takeover offer from a Vietnam-focused nickel miner, which values the target at about $21.1 million.

USA-focused gold explorer Anova Metals has raised $9 million from investors to progress development of its Big Springs project in Nevada, USA.

JB Hi-Fi has welcomed the competition watchdog's green light to make a move for whitegoods retailer The Good Guys.

Scarborough-based West African Resources has tapped investors for a $21 million capital raising to pay off debt and fund ongoing development of its Tanlouka gold project.

Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.

Rox Resources has received a competing offer for its stake in the Reward zinc project in the Northern Territory, with Marindi Metals saying its offer will expire at 5pm today if it is not accepted. 

OTOC has expanded its surveying portfolio with the acquisition of local company WKC Spatial for $1.9 million.

Craig Munro-chaired Gulf Manganese Corporation has received a $US10 million ($A13 million) equity commitment from an Indonesian investor to progress development of its Kupang smelting hub in West Timor.