Takeover target Aphrodite Gold has flagged an impairment charge of up to $19 million against its self-titled gold project near Kalgoorlie, but says it will not affect the value of its all-scrip merger with Perth-based Spitfire Materials.
Gold junior Spitfire Materials has entered into an agreement to merge with Victoria-based Aphrodite Gold in an all-scrip deal that values the target at about $32 million.
Nicholas Clark has retired as executive director, strategy at Alexium International Group to focus on his young family in the US following the unexpected loss of his wife last year.
Perth-based Spitfire Materials is seeking to grow its gold exploration portfolio through the acquisition of a private company led by Pilbara Minerals directors Neil Biddle and John Young, in a scrip deal worth $4.7 million.
Subiaco-based minerals explorer Avanco Resources has signed an earn-in agreement with Canadian Jaguar Mining for the Gurupi gold project in Brazil, while Spitfire Materials has acquired 100 per cent of a gold project in Western Australia.
Spitfire Resources chairman James Hamilton has assumed interim day-to-day management of the company, following the death of managing director John Mackenzie.
Exploration company Spitfire Resources has finalised its move to take on advanced coal projects in Tasmania with two key exploration licences, covering the Langloh and Avoca thermal coal projects, being granted.
Exploration company Spitfire Resources Limited has moved to diversify its asset portfolio and commodity base by acquiring an advanced coal project in Tasmania.
Norwegian company Tinfos has turned its attention to Subiaco-based manganese explorer Spitfire Resources Ltd after losing out in the takeover race for Consolidated Minerals Ltd.
Subiaco-based manganese explorer Spitfire Resources Ltd is looking to more than double its existing land holdings in the East Pilbara region, by lodging four new tenement applications.
Subiaco-based manganese explorer Spitfire Resources Ltd has made a steady debut on the Australian Securities Exchange after completing its successful $6 million initial public offer.
