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Deals

Matsa buys Saracen’s Red October

Northbridge-based Matsa Resources has signed an agreement to acquire Saracen Mineral Holdings’ Red October gold mine near Laverton for about $2 million in cash and shares.

Tiger signs $23m facility

Copper-focused Tiger Resources has secured a $US18.2 million ($A22.9 million) facility agreement with two of its existing lenders, to fund ongoing work it its Kipoi operation in Africa whilst it pursues recapitalisation plans.

Seven completes $375m raising

Seven Group Holdings has raised $375 million to help it buy the remainder of equipment hire company Coates Hire, and plans to tap investors for a further $25 million.

Juniors in $26m of deals

Six local resources companies have announced capital raisings of around $26 million for projects including in lithium and rare earths, with one of the businesses, Okapi Resources, planning to join the ASX bourse.

Shares jump on Xanadu result

Shares in three local energy companies have surged today after hitting hydrocarbons while drilling the Xanadu-1 offshore prospect in the Perth Basin, with Triangle Energy leading the charge, up nearly 60 per cent.

Gascoyne in $60m facility for gold project

Gascoyne Resources has mandated two of Australia's largest banks to arrange a $60 million debt facility for the development of its Dalgaranga gold project in the Murchison region.

Ramelius buys Evolution's Edna May for $90m

Ramelius Resources is set to become a 200,000 ounces per annum gold producer after acquiring Evolution Mining’s Edna May operation near Merredin for up to $90 million in cash and shares.

Servtech sells rent roll for $1.5m

Osborne Park-based software as a service provider Servtech Global has agreed to sell its rent roll business in two parcels totalling $1.5 million to Summit Development Corporation, part of the Summit Homes Group, and Housemart Real Estate.

Juniors raise $13m

Four local mining hopefuls have raised $13.2 million between them for new projects, with Egan Street Resources and Ardea Resources in the two biggest deals.

Castillo in $3.4m raising

Castillo Copper has raised $3.4 million as the company seeks to undertake drilling to reopen the Cangai copper mine in NSW.

Pancontinental in $US7.7m Namibian deal

Shares in West Perth-based energy hopeful Pancontinental Oil & Gas were up 33 per cent today after the company sold part of its stake in a Namibian offshore exploration licence to Africa Energy for $US7.7 million ($9.6 million).

1-Page sells US business

Listed company 1-Page is looking for new ways to spend its $26 million cash balance after selling its US technology business, which lost about $45 million over three years.

Juniors tap investors for $6m

Local explorers MacPhersons Resources and Venture Minerals have announced plans to raise a combined $6.3 million to fund ongoing work at their respective prospects in the state.

Maca in $60m placement

Mining and civil contractor Maca has raised $60 million to expand its mining fleet, driven by what the company described as an exceptional pipeline of available work.

Triangle to float subsidiary on ASX

Gas explorer Triangle Energy Global has announced plans to spin-out one of its subsidiaries into a new entity and float it on the ASX.

Peel to spin-out local gold asset

Junior explorer Peel Mining has announced plans to spin-off its Apollo Hill gold project near Leonora into a new company and list it on the ASX by way of an initial public offering.

Poseidon attracts another user for Black Swan

Poseidon Nickel is in discussions with Empire Resources for the processing of gold ore at its mothballed Black Swan processing facility near Kalgoorlie, while Empire has secured two loan deals to help pay for essential mining costs.

Orinoco attracts $8m investment

Gold junior Orinoco has tapped investors for a near-$5 million capital raising and a $3 million investment by AngloGold Ashanti, as it progresses development of its Cascavel operation in Brazil.

Aust Mines buys out JV partner for $10m

Local explorer Australian Mines has entered into an agreement to buy out its joint venture partner at the Sconi cobalt-nickel-scandium project in Queensland for $10 million in cash and scrip.

Vonex looks to NSX for IPO

Local telecommunications company Vonex has launched its prospectus for an $8 million initial public offering on the National Stock Exchange, following its reverse takeover - and subsequent failed backdoor listing - of Aleator Energy last year.

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