Scarborough-based West African Resources has tapped investors for a $21 million capital raising to pay off debt and fund ongoing development of its Tanlouka gold project.
Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.
Rox Resources has received a competing offer for its stake in the Reward zinc project in the Northern Territory, with Marindi Metals saying its offer will expire at 5pm today if it is not accepted.
Craig Munro-chaired Gulf Manganese Corporation has received a $US10 million ($A13 million) equity commitment from an Indonesian investor to progress development of its Kupang smelting hub in West Timor.
Underwater services company Shelf Subsea has merged with the local subsidiary of global geotechnical, survey and geosciences company Fugro in a deal worth $40 million.
Monadelphous Group has restructured its interest in struggling waste technology company AnaeCo, with a debt for equity swap and loan sale that will see the Perth engineering firm emerge with a 30 per cent stake and a Chinese enterprise with a 55 per cent interest.
Diversified miner Metals X has confirmed a $115.6 million capital raising and plans to demerge its gold assets into a new company, which will be led by existing chief executive Peter Cook.
Perth business executive Tim Brady is planning to list his new software business AssetOwl on the ASX through a $6 million reverse takeover of Regalpoint Resources.
Mineral sands miner Iluka Resources has revealed it is in takeover talks with London-listed Sierra Rutile, an Africa-focused miner with a market cap of about $400 million.
Major health insurers HBF and Bupa have announced they will invest in the development of fellow insurer nib’s online health service platform, Whitecoat, which promotes itself as a TripAdvisor-like model offering consumers search, booking, survey, and pay functions for healthcare treatment.
Tempo Australia has expanded its service offering with the acquisition of local electrical, telecom and data communications contractor Cablelogic for an undisclosed sum.
