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.

Constellation rises on ASX debut

Constellation Resources, a spin-out of Apollo Minerals’ Fraser Range assets, has begun trading positively on the ASX today, after raising $7 million via an initial public offering.

MinRes, Brockman strike $300m mine deal

Mineral Resources and Brockman Mining have announced plans to jointly develop a major iron ore mine that will underpin construction of a new rail line and port facilities at Port Hedland.

PolarX raises $4m

Junior explorer PolarX has boosted its coffers with a $3.9 million capital raising, with the proceeds to fund the company’s exploration program at its Alaska Range project.

Spookfish set for $122m takeover

Bentley-based Spookfish has struck a takeover deal with its largest shareholder, US-based EagleView Technologies, which values the local tech company at $121.6 million.

RDG makes $2.8m purchase

Resource Development Group has made its first major purchase since the sale of three subsidiaries in 2015, buying a majority stake in mining services business Mineral Solutions Australia for $2.8 million.

Norwest secures $5m and appoints CEO

Investors have committed $5 million towards the planned IPO of Norwest Gold, a gold and base metal spin-off from Australian Mines.

NeuroScientific set for ASX debut

Nedlands-based NeuroScientific Biopharmaceuticals, which has been bankrolled by the Clough family, is set to begin trading on the ASX tomorrow, after raising $6 million via an initial public offering.

Fleetwood in $44m acquisitions

Fleetwood Corporation has continued with a major reshaping of its business, announcing two acquisitions on the east coast and a $60 million capital raising, one month after selling its caravan manufacturing business.

Thrifty in $20m Kalgoorlie expansion

Car rental and mechanical service company Thrifty WA has begun a $20 million expansion of its operations in the Goldfields, a new branch at Kalgoorlie-Boulder Airport.

Corporate finance deals July 16 to 20, 2018

MMJ PhytoTech has invested CAD$0.15m for a 2.5% shareholding in privately-held Embark Health Inc as part of their CAD$1m seed funding round.  

Somers & Partners links with Mejority Capital

Perth finance executives Andrew Frazer and Simon Lill have agreed to a strategic alliance between their respective businesses.

Mod in $27m copper deal

MOD Resources has moved to full ownership of its T3 copper project in Botswana, after acquiring UK-based Metal Tiger’s stake of the project in a scrip deal worth $26.6 million.