Longreach Capital

After selling its Southern Cross gold operation last year, Chinese-owned Hanking Gold Mining has made a takeover proposal for Primary Gold worth $37.5 million.

Struggling gold producer Eastern Goldfields has announced a $75 million recapitalisation deal and board overhaul led by private mining services company Adaman Resources.

SPECIAL REPORT: WA companies participated in 175 corporate finance transactions worth $7.6 billion in the September quarter, with one of the most complex and innovative being the recapitalisation of Eastern Goldfields.

Eastern Goldfields is at risk of collapse, after the $75 million recapitalisation plan it announced in late September was scrapped today.

NRW Holdings has purchased BGC Contracting for $116.4 million in cash, three weeks after it was named preferred bidder, and plans a capital raising of $130 million to fund the transaction.

Junior gold explorer Alto Metals has received an off-market takeover bid from Chinese-owned Goldsea Australia Mining in an all-cash deal worth $20.7 million.

French engineering group Altrad Services it set to acquire listed contractor Valmec, in a deal that values the Kewdale business at $52 million.

Cyprium Metals is seeking up to $26 million from investors to fund a restart of its Nifty copper project in WA’s Pilbara region.

Westgold Resources has declared its intentions to make a $177 million scrip bid for gold junior Musgrave Minerals, with both companies occupying land in the busy Murchison gold province.