Wednesday, 4 July, 2012 - 10:36
All rather quiet on western M&A front
The corporate advisory market is in the doldrums as global forces restrain players.
Minotaur Exploration was a public company (ASX: MEP) based in Adelaide, South Australia, that took over WA-based Breakaway Resources in 2013.
The company was exploring IOCG style targets in Australia, where geophysics have identified numerous sub-surface anomalies prospective for copper-gold mineralisation. Other targets were prospective for base metals such as zinc, lead, copper.
In February 2022, Minotaur Exploration was acquired by Andromeda Metals.
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NEWS: Tagged in Surefire hires experienced vanadium executive as Managing Director | 02 Feb 2023 |
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NEW ROLE: Michael Zannes, Non-Executive Director | 22 Feb 2022 |
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NEW ROLE: James Marsh, Non-Executive Director | 22 Feb 2022 |
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NEW ROLE: Glen Little, Exploration Manager | 24 Nov 2020 |
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NEW ROLE: Varis Lidums, Commercial Manager, Company Secretary since 2016 | 24 Nov 2020 |
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REMUNERATION UPDATE: Andrew Woskett, Managing Director | 24 Aug 2020 |
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REMUNERATION UPDATE: Tony Belperio, Executive Director | 24 Aug 2020 |
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REMUNERATION UPDATE: Roger Higgins, Non-Executive Chair | 24 Aug 2020 |
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REMUNERATION UPDATE: George McKenzie, Non-Executive Director | 24 Aug 2020 |
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REMUNERATION UPDATE: Andrew Woskett, Managing Director | 30 Jun 2020 |
The corporate advisory market is in the doldrums as global forces restrain players.
Minotaur Exploration has announced an agreed takeover offer for Perth-based Breakaway Resources and the establishment of two new joint ventures to fund exploration of Breakaway's tenements.
Adelaide-based company Minotaur Exploration has acquired 91 per cent of Perth-based Breakaway Resources in an off-market takeover.The iron ore and base metal resources company's offer exchanged one of its ordinary shares for 10 ordinary shares in copper and gold explorer Breakaway.
Former Breakaway Resources chairman John Atkins has joined the board of Minotaur Exploration, following Minotaur’s takeover of Breakaway.Mr Atkins is chair of Lotterywest and a non-executive director of Aurora Oil & Gas and Australian Finance Group.
The switch from ‘demand-pull’ to ‘supply squeeze’ in the global resources market may provide opportunities for WA miners.
There's a flipside to being undervalued, according to Minotaur Exploration managing director Andrew Woskett, whose business has a $21 million market cap.
Auroch Minerals is tapping into the resurgence of nickel activity in Western Australia, striking a deal to acquire Minotaur Exploration’s Saints and Leinster projects near Kalgoorlie.
A summary of last week's smaller deals that did not get included in our daily news coverage.
Name | Position | Year Started |
---|---|---|
Exploration Manager
|
Name | Position | Year Started | Year Ended |
---|---|---|---|
Non-Executive Chair
|
2016 | 2022 | |
Non-Executive Director
|
2017 | 2022 | |
Commercial Manager, Company Secretary since 2016
|
2010 | 2022 | |
Non-Executive Director
|
2022 | 2022 | |
Managing Director
|
2010 | 2022 | |
Non-Executive Director
|
2022 | 2022 | |
Executive Director
|
2013 | 2022 | |
Company Secretary
|
2016 | ||
Founder, Managing Director, Chair
|
1993 | 2016 | |
Non-Executive Director
|
2013 | 2015 | |
Non-Executive Director
|
2005 | 2015 | |
General Manager, Exploration
|
2011 | 2014 | |
Technical Director
|
2007 | 2013 | |
General Manager, Industrial Minerals
|
2010 | 2011 | |
Non-Executive Chair
|
2010 | ||
Exploration Geologist/Geochemist
|
2005 | 2007 | |
Chief Geologist
|
1997 | 2007 | |
Non-Executive Director
|
|||
Non-Executive Director
|
|||
Non-Executive Director
|
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Andromeda Metals | Minotaur Exploration | Asset acquisition | $118.00m | >> | |
Future Battery Minerals | Minotaur Exploration | Asset acquisition | $1.50m | >> | |
Minotaur Exploration | Breakaway Resources | Takeover | $19.00m | >> |