Saturn begins trading

Peel Mining spin-out Saturn Metals began trading on the ASX today after the gold explorer raised $7 million through an initial public offering.

Eastern increases stake in Finders

Indonesian group Eastern Field Developments has increased its stake in Finders Resources as the major shareholder pursues a hostile takeover of the copper miner valued at around $177 million.

Egan Street secures $11.9m of options

Gold hopeful Egan Street Resources has secured $11.9 million of funding via the exercise and underwriting of the company’s listed options, with the proceeds to be used at its Rothsay project.

Northern Star acquires $80m mine

Gold miner Northern Star Resources has agreed to purchase the South Kalgoorlie mine from Westgold Resources in a cash and scrip deal worth $80 million.

Mitsui plans unconditional offer for AWE

Mitsui & Co has announced its $602 million takeover offer for AWE will be unconditional if the Japanese company acquires more than a 50 per cent stake before March 14.

WA researcher strikes China deal

Cutting-edge gene research could be lost to China unless local investors stump up to keep it in Australia, according to Grant Morahan from the Harry Perkins Institute of Medical Research.

Mod raises $18m

Copper explorer MOD Resources has tapped investors for $18.3 million, with the proceeds set to be used on exploration work at its T3 and T20 Dome projects in Botswana.

Corporate finance deals Feb 26 to Mar 2 2018

S2 Resources advises that completion has occurred under the Heads of Agreement that was announced on 14th February 2018.

Lithium Australia secures $18.2m funding

Lithium Australia has secured an $18.2 million funding package from US institutional investor Arena Investors LP via a multi-tranche convertible note facility, with the proceeds to be spent on developing a lithium processing pilot plant.

Eastern takes Finders to panel

Finders Resources’ largest shareholder, Eastern Field Developments, which is currently making a hostile takeover bid for the copper miner, has submitted an application to the Takeovers Panel requesting the company disclose details regarding its Wetar project and revise the independent expert report.

DXC buys M-Power Solutions

Global IT services company DXC Technology has bolstered its presence in Western Australia, buying local firm M-Power Solutions and consolidating its 300-plus staff in new premises in the CBD.

Podium lists after $5.5m IPO

Shares in junior explorer Podium Minerals began trading on the ASX today after the company raised $5.5 million through an initial public offering.

RTG in $US34m raising

Subiaco-based RTG Mining has raised $US34 million as the company aims to secure an interest in the old Panguna copper-gold project in Bougainville, while Azure Minerals also announced a capital raising worth $8.2 million.

Corporate finance deals Feb 19 to Feb 23 2018

Black Mountain Resources Limited is pleased to update shareholders on the following restructure initiatives that have been agreed to by the Company and its major lender, Richmond Partners Masters Limi

BESIX to lift stake in Watpac

The single largest shareholder in Watpac has struck a deal to acquire a majority stake in the contracting and construction company, which today reported an interim loss of $1.4 million.

Aurora in $8m raising

3D printing company Aurora Labs has announced it will raise up to $8 million, with the funds to be used to support development of its large format technology.

Raiden up strongly on debut

Shares in West Perth-based Raiden Resources (previously SubZero Group) enjoyed strong gains today after they started trading on the ASX, following a two-year restructuring of the company and acquisition of a copper-gold project in Serbia.

Doray in $25m raising

Gold miner Doray Minerals has raised $25 million to reduce debt and increase exploration at its Deflector project, which is located 160 kilometres east of Geraldton.

Universal seeking $5m IPO

Perth-based tech company Universal Biosecurity is aiming to raise $5 million through an initial public offer to fund a two-year research and development program.

Primary receives $37.5m takeover offer

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.

Corporate finance deals Feb 12 to 16 2018

Overland Resources Limited is pleased to advise that it has executed a Sale and Purchase Agreement with Peter Gianni to acquire a 100% interest in Exploration Licence Application 53/1971 for a total c