Deals

Chinese steelmaker Ansteel has taken majority ownership of the Karara iron ore project, lifting its stake above that of Gindalbie Metals after converting shareholder loans to new equity in Karara Mining.

Wolf Minerals has arranged final funding for construction of its Hemerdon tungsten and tin project in England after agreeing to a discounted share placement.

Michael Fotios, who made a fortune backing gold miner Northern Star Resources, is heading back to the stockmarket to tap into what he calls “a marked increase in investor interest over the last 3 months”.

Perth-based marine farming company Cell Aquaculture has flagged a move into property investment, signing a heads of agreement to acquire two new projects in Asia for $83 million in an all-scrip bid.

Ascot Resources has agreed to acquire the Wonmunna iron ore project from Ochre Group, which, in return, will receive a majority stake in the previously coal-focused company.

Virax Holdings has agreed to acquire Pathway Oncology in a reverse takeover which will see the Australia-listed company gain control of a global licence for emerging anti-cancer technology.

Patersons Securities plans to introduce an employee share scheme to help bolster its net assets by at least $15 million, after posting its third interim loss in succession.

Two years after selling its stake in the failed Oakajee port and rail project, Murchison Metals is set to be absorbed by major shareholder Mercantile Investment Company.

Queensland-based infrastructure services company Cardno has bought oil and gas engineering consulting firm PPI Technology Services for $US145 million.

Perth-based The Waterberg Coal Company (WCC) has agreed to a share swap deal with London-listed investment fund Global Resource Investment Trust (GRIT).

Talga Resources has received commitments to raise up to $1.7 million, which has been earmarked for the ongoing development of its graphite projects in Sweden.

Cash strapped Jacka Resources has appointed two broking firms to assess capital raising options after confirming that a friendly takeover offer from Tangiers Petroleum looks set to fail.

Iron-ore explorer Coziron Resources has raised $2.5 million in equity following the execution of a share placement to sophisticated investors.

Liquefied Natural Gas has completed a $4.2 million equity raising which will allow it to fulfill the requirements of a recently signed gas transportation contract.

Macro Energy will become the first Australian-listed company to enter the Bitcoin phenomenon under plans spearheaded by Perth SMS entrepreneur Zhenya Tsvetnenko.

Nedlands-based gold explorer ABM Resources has outlined plans to raise $19.6 million from private equity fund Pacific Road Capital as it aims to bring its Old Pirate project in the Northern Territory to production.

Contractor Viento Group will take a controlling stake in electrical switchgear firm Power Infrastructure Services (Powins) in a deal worth $400,000.

SPECIAL REPORT: As the junior resources sector slows, so do the earnings of companies most exposed to the sector – exploration drilling and mining services firms.

SPECIAL REPORT: Tight debt and equity environments have led many junior mining and exploration firms to seek alternative arrangements to finance their operations.

SPECIAL REPORT: Poor investor sentiment and low confidence have put a crunch on capital for WA's junior miners.

Junior explorer Heron Resources has announced a $15 million plan to merge with NSW-based exploration firm TriAusMin.

Northern Star Resources is planning one more acquisition after two recent purchases and an “aggressive” strategy made it Australia's fifth largest ASX-listed gold producer.

FairStar Resources has cancelled its $260 million joint venture which would have provided 80 per cent of the required funding for its Steeple Hill iron ore mine in the eastern Goldfields, while at the same time announcing an alternative deal that will pay for the project's rail infrastructure.

Flinders Mines has announced plans to raise $14.3 million through a share placement and entitlement offer to fund a bankable feasibility study and further exploration on its Pilbara iron ore project.

Experienced insolvency practitioner Gary Anderson has agreed to merge his practice with Kim Wallman at HLB Mann Judd.

Welshpool-based contractor MACA has launched a $59 million capital raising and paid out a special dividend to shareholders on top of last week's interim dividend.

Silver Lake Resources will place its Murchison gold operations on care and maintenance later this year, saying the project is no longer sustainable at the current gold price.

Earthmoving and mining equipment supplier Emeco Holdings is looking to shore up its balance sheet in the wake of a $180 million half-year loss, announcing a plan to raise up to $US360 million throu

Troy Resources will tap the market for about $38 million through a placement and share purchase plan to fund development at its West Omai gold project in Guyana.

Saracen Mineral Holdings has taken advantage of a strong share price rally to launch a capital raising to fund its Thunderbox project acquisition and strengthen its balance sheet.

Mermaid Marine Australia has agreed to purchase the subsidiaries of Singapore-based marine services provider Jaya Holdings for $S625 million ($550 million), in an all-cash deal which represents one of the largest acquisitions by a Western Australian company in recent years.

Poseidon Nickel has signalled it no longer plans to pursue a major debt capital raising in the United States, appointing a new chairman to replace US-based Bud Scruggs.