Deals

Engineering and construction company VDM Group will look to strengthen its balance sheet through an $18.7 million capital raising, with the company's major shareholder H&H Holdings contributing $9 million to the finance boost.

Cash Converters has acquired four franchised stores in Victoria and one in New South Wales for approximately $4 million dollars, inclusive of $1.8 million in assets, bringing the total number of corporate-owned stores in Australia to 61.

New Standard Energy plans to diversify its interests in the oil and gas sector by completing a farm-in agreement in the Cooper Basin in South Australia and acquiring 5,182 acres in a Texas oil shale asset.

Gindalbie Metals has agreed to sell its Shine hematite iron prospect to Mount Gibson Iron for $15 million as it focuses attention on bringing its Karara magnetite project to full production.

Perth-based oil explorer Oilex has announced it has secured a $13.5 million three year equity financing facility with UK-based Darwin Strategic, for drilling at its Cambay onshore oil joint venture project in Gujarat, India.

Mineral sleuth Rox Resources has raised $2.4 million for exploration programs and working capital in a share purchase plan, the company announced today.

Oil and gas explorer WHL Energy has secured a one-off $US2.7 million loan from New York-based institutional investor Bergen Global Opportunity Fund.

South Perth company Brighton Mining Group has announced plans to acquire Indonesian manganese miner Asia Minerals Corporation, which is led by Perth mining entrepreneur Michael Kiernan and counts another South Perth company, Gulf Mines, as a substantial shareholder.

Nedlands company Advanced Geomechanics is hoping to extend its reach into the global subsea engineering market following its directors’ decision to sell the business to Dutch multinational Fugro.