News Articles for Argonaut

Three local exploration companies have tapped investors for up to $60 million, led by a $48.2 million capital raising from West African Resources for its Sanbrado gold project in Burkina Faso.

Salt Lake Potash has tapped investors for $13 million to fund development of its Goldfields salt lakes project.

SPECIAL REPORT: WA companies participated in 175 corporate finance transactions worth $7.6 billion in the September quarter, with one of the most complex and innovative being the recapitalisation of Eastern Goldfields.

Perth company Stealth Global Holdings will start trading on the ASX tomorrow after completing a $12.5 million IPO and paying $9 million for local firm Heatleys Safety and Industrial.

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

SPECIAL REPORT: Private equity groups and credit funds are delivering a diverse range of financing options for mining projects.

SPECIAL REPORT: Western Australian companies were involved in 235 corporate finance deals worth $6.9 billion in the June quarter, with new advisory firms playing an increasing role, research by Business News has found.

Dacian Gold has announced a capital raising worth up to $45 million to fund exploration at its Mt Morgans operation near Laverton.

Two local biotech companies have announced capital raisings today, with Botanix Pharmaceuticals tapping investors for $8 million, while Roto-Gro International has boosted its coffers with a $4.5 million raising.

Perth companies Global Construction Services and SRG have announced an agreed merger that brings together their contracting, construction and engineering services into a combined group with an expected value of $332 million.

Gage Roads Brewing Company has struck a deal to purchase Matso's Broome Brewery for $16.1 million, along with a $12 million capital raising to fund the acquisition.

Chinese-owned mining company Perilya will take a 20 per cent stake in Myanmar Metals as part of a planned capital raising worth up to $35 million to fund its share of the Bawdwin base metals project.

Shares in the Ian Middlemas-led Paringa Resources fell sharply today after the company completed a $30.2 million capital raising at a heavily discounted price of 22 cents per share, with the proceeds to fund construction of its Poplar Grove coal mine located in the US.

Subiaco-based Vital Metals has agreed to sell its tungsten project in Queensland to Tungsten Mining for a cash consideration of $15 million.

Perth-based Genesis Minerals has received commitments to raise $5 million through a share placement, with the funds to be spent on a drilling program and a feasibility study at its Ulysses gold project.

SPECIAL REPORT: Corporate advisory firm Argonaut had a lead role in two of the most hotly contested takeover battles in WA in recent times.

After selling its Southern Cross gold operation last year, Chinese-owned Hanking Gold Mining has made a takeover proposal for Primary Gold worth $37.5 million.

SPECIAL REPORT: There have been some big moves among corporate finance dealmakers in Perth, who worked on more than 850 transactions worth nearly $25 billion in 2017.

A Chinese state-owned energy company has stepped up its efforts to gain control of the Waitsia gas field north of Perth, launching a hostile bid today for oil and gas group AWE after withdrawing its proposal for a friendly takeover earlier this week.

AWE shares have tumbled after the Chinese state-owned energy corporation interested in buying the Australian oil and gas group withdrew its $430 million proposal, after it was unable to conduct a final due diligence review on the target.

Shares in oil and gas group AWE have jumped more than 20 per cent following a $430 million takeover bid from a Chinese state-owned energy corporation.

Gascoyne Resources has raised $21 million through a heavily oversubscribed share placement to fund further exploration and development at two of its Western Australian gold projects.

Australian Mines has raised $20 million through a strongly supported share placement, while denying any involvement in the leaking of details regarding the placement to the media.

The independent directors of Finders Resources have questioned some of the claims and assumptions used by Indonesian group Eastern Field Developments, which has announced a takeover offer for the West Perth company.

Copper-gold explorer Bryah Resources has wrapped up its first day of trading on the ASX, after completing a $5 million initial public offering.

SPECIAL REPORT: Western Australian businesses participated in nearly 200 corporate finance transactions in the September quarter collectively worth $4.8 billion, research by Business News has found.

An Indonesian consortium has announced its intention to make an off-market takeover bid for copper miner Finders Resources, with the all-cash deal valuing the target at about $177 million.

Four local mining hopefuls have raised $13.2 million between them for new projects, with Egan Street Resources and Ardea Resources in the two biggest deals.

Mining services business Ausdrill has launched a $100 million capital raising to bolster its balance sheet, as it anticipates further growth in its African operations, and negotiated an expanded debt facility.

Gold explorer Echo Resources has tapped investors for $5 million to fund ongoing development of its Yandal project near Wiluna.

SPECIAL REPORT: Ongoing uncertainty over state government policy and a lengthy approvals process are muddying the waters for local energy hopefuls.

Metro Mining shares were up 20 per cent after the bauxite hopeful announced the completion of a $38 million capital raising through Perth broking firm Argonaut.

A new Perth-based gold and copper-focused exploration company has announced plans to raise up to $6 million by way of an initial public offering and list on the ASX.

CTI Logistics chairman David Watson has sold down his shareholding for the first time since he founded the business in 1972, with Forager Funds Management acquiring some of his shares and investing further funds to become a substantial shareholder.

Perth junior Salt Lake Potash has tapped investors for $17.6 million to fund development of a pilot plant at its Goldfields salt lakes project near Laverton.

After locking in a $US20 million ($A26 million) debt facility agreement last week, aspiring coal miner Paringa Resources has tapped investors for $53 million to fund development of its Poplar Grove mine in Kentucky.

SPECIAL REPORT: Western Australian stockbrokers and companies raised nearly $1.1 billion in 104 transactions in the March quarter, with gold deals being a major driver of activity, according to new data compiled for the BNiQ Search Engine.

Biotech Botanix Pharmaceuticals has raised $7.4 million in a placement of new shares to help it fund the further development of its dermatology products that contain a synthetic form of the cannabis compound, cannabidiol.

Charles Fear has stepped down as chief executive of Argonaut, while retaining the role of chair.

Niobium explorer Cradle Resources has recommended shareholders accept a takeover offer from joint venture partner Tremont Investments, which values the target at $55 million.