Westgold Resources has announced it seeks to snap up the remaining shares it does not already own in Aragon Resources, to create a mid-tier mining house with potential annual gold production of 200,000 ounces.
Perth-based mining hopeful Aragon Resources has sold its fully-owned subsidiary, Territory Phosphate, to Northern Territory-based uranium explorer Rum Jungle Resources.
East Perth-based Aragon Resources has called off its takeover of private Australian company Hot Chili after it was unable to gain surety of pending agreements on key tenements.
Shares in Aragon Resources have more than doubled on news the East Perth-based company will acquire private Australian company Hot Chili, which holds the largest identified uranium project in Chile.
Investors trying to pick the next big thing in the resources boom poured their money into a diverse group of Western Australian companies last year, including iron ore, coal and phosphate stocks.
East Perth-based explorer Aragon Resources Ltd has entered into the phosphate game, acquiring Territory Phosphate Pty Ltd for an initial figure of $2.7 million in scrip.
Perth-based Aragon Resources Ltd, a spin-off of Westgold Resources NL, was down one cent from its offer price, closing at 24 cents on its ASX debut after raising $8.7 million for work on its gold, uranium and nickel projects in its initial public offering
