Andrew Hobbs

Nedlands-based uranium explorer XState Resources Ltd, formerly Oriental Crystal (International) Ltd, has issued a prospectus to raise $6 million, funding a change in the company's direction.

Shares in squabbling iron ore companies Mt Gibson Iron Ltd and Aztec Resources Ltd jumped two per cent today on news of strategic stakes in both being taken by Hong Kong-based Shanghai Merchants Holdings Ltd.

Alkane Exploration Ltd and the privately-owned Randolph Syndicate will combine their adjoining iron ore exploration tenements with Consolidated Minerals to form a new company, BC Iron Ltd, set to raise $6 million in its IPO.

Serial business fixer Geoff Gander has stepped down from the board of Lindian Resources Ltd, formerly VPH Ltd, after the company closed a recapitalisation float oversubscribed at $1.6 million.

Perth-based tin and nickel miner Stonehenge Metals Ltd has announced plans to raise up to $6 million through its initial public offer to acquire a series of mineral tenements.

Aztec Resources Ltd has again recommended the rejection of a takeover bid from Mount Gibson Iron Ltd, after securing credit approval for a $100 million finance facility to fund development of the Koolan Island Iron Ore project.

The federal government has sought to allay community concerns about tree farms – which have increased by 20 per cent in five years in Western Australia to reach almost 400,000 hectares – releasing a report on the impact of timber plantations on farming co

Mt Gibson Iron Ltd has claimed an equity deal struck by target Aztec Resources Ltd today with Australian Royalties Corporation Pty Ltd could actually make its takeover easier because the agreement was below the bid price.

Aztec Resources Ltd requested its shares be suspended from trade today, ahead of confirmation that rights negotiations with Australian Royalties Corporation Pty Ltd were positive.