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Gascoyne to raise up to $24m

Gold miner Gascoyne Resources has announced a $19 million equity placement, along with a share purchase plan to raise up to $5 million.

Kangaroo approves PT Bayan bid

Directors of junior miner Kangaroo Resources has given a tick to a bid from Indonesian coal miner PT Bayan which values the company at $515 million.

Poseidon attracts $66m takeover

Privately-held US group Black Mountain Metals, which has recruited three experienced Perth mining executives to its leadership team, has flagged a takeover bid for Poseidon Nickel at six cents per share.

Cassini raises $4.2m

West Perth-based Cassini Resources has completed a $4.2 million share placement, with backing from the chairman of Chinese company Tinci Materials.

Sultan debuts after $4.8m IPO

Shares in Sultan Resources began trading on the ASX today, after the company raised $4.8 million via an initial public offering.

Mercer to acquire Santanol

Canada-based forest products company Mercer International has confirmed it will acquire privately owned Indian sandalwood producer Santanol for an unspecified sum.

Ausdrill in $272m Barminco buy, raises $250m

Ausdrill has announced its first major acquisition since the retirement of founder Ron Sayers last month, with the company set to purchase mining services contractor Barminco in a cash and scrip deal worth $271.5 million, while also announcing a $250 million capital raising.

Tempus set for ASX debut after $5m IPO

Copper-focused Tempus Resources is set to list on the ASX tomorrow, after the company raised $5 million via an initial public offering.

Capilano gets $190m takeover

Kerry Stokes looks set to accept a takeover offer for one of his agribusiness investments after private equity groups launched a friendly takeover bid for Australia's biggest honey producer, ASX-listed Capilano Honey.

Business group buys Perth Heat

Perth’s semi-professional baseball team, Perth Heat, has been purchased by a private consortium that is led by business executive Rory Vassallo and includes Eileen ‘Red’ Bond and broadcaster Christian Galapolous.

Risco ups Tap offer to $39m

Tap Oil major shareholder Risco Energy Investments has increased its takeover offer for the oil and gas company to $38.7 million on the back of BDO’s independent expert valuation.

ACCC backs Fero takeover

Kewdale-based manufacturer Fero Group appears set to be acquired by global outifit DYWIDAG-Systems International (DSI) Group, after the competition watchdog said it would not oppose the deal.

Altura calls off takeover talks

Altura Mining has decided not to pursue a takeover from its largest shareholder, after its corporate adviser Citigroup began investigating a potential transaction in April.

Velpic in $4m sale

Perth-based tech company Velpic has struck a deal to sell its primary business to Damstra Technology for about $3.8 million, weeks after most of its staff were made redundant.

FMG to retain Atlas blocking stake

Fortescue Metals Group has reduced its stake in Atlas Iron but crucially still holds more than 10 per cent, meaning Gina Rinehart's Hancock Prospecting will not be able to acquire full ownership of the takeover target.

Hancock moves to 56% Atlas stake

UPDATED: Gina Rinehart’s Hancock Prospecting announced late Friday it has increased its stake in takeover target Atlas Iron to 56 per cent, giving it effective control, and extended its $390 million offer for two weeks.

Otto raises $20m

Otto Energy has tapped investors for $20 million, with the proceeds set to be spent on drilling programs across the company’s projects.

Paladin makes full takeover bid for Summit

Paladin Energy has announced plans to move to full ownership of fellow Perth-based uranium company Summit Resources, in a scrip deal worth around $7.8 million.

Metals X raises $50m

Perth-based Metals X has raised $50 million via an institutional placement, with the proceeds set to be spent at the company’s Nifty copper project in the Pilbara.

Ventnor buys sand project, raises $2m

Ventnor Resources has exercised an option agreement to acquire the Muchea silica sand project north of Perth, while also announcing a $2.4 million capital raising.

Corporate finance deals July 23 to 27, 2018

Lion Energy is pleased to advise it has executed an agreement to sell the Company’s holding in South Block A to Blue Sky Resources for a nominal amount of $10.

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