Australian Mines has settled a legal battle over breaches of ASX reporting by paying a penalty, but proceedings against its former managing director are ongoing.
Australian Mines' Benjamin Bell has resigned as a director after the corporate watchdog moved to strip him of his right to manage a corporation over disclosure allegations.
Exploration company Australian Mines and its managing director Benjamin Bell are facing allegations of breaching disclosure obligations about the Sconi Project.
Perth-based Australian Mines has secured a $US12 million convertible note facility with a New York fund, as it seeks to continue development of a Queensland cobalt project and completes the acquisition of a second cobalt deposit.
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.
Local explorer Australian Mines has entered into an agreement to buy out its joint venture partner at the Sconi cobalt-nickel-scandium project in Queensland for $10 million in cash and scrip.
Perth-based explorer Australian Mines has announced plans to raise up to $6.3 million from investors to fund ongoing work at its Sconi and Flemington scandium-cobalt projects.
