Deals

A local oil and gas explorer led by Steinepreis Paganin partner Peter Wall has announced plans to acquire a digital technology company in a backdoor listing.

Sitech WA has announced the acquisition of Versatech Engineering Solutions for an undisclosed sum, adding to its range of specialist equipment for the heavy machinery and construction sector.

DBP Transmission, the owner and operator of the Dampier natural gas pipeline, has signed up for a $245 million, seven-year debt facility with a Japanese bank.

Evolution Mining is set to become Australia's second largest gold producer after successfully raising funds to buy a NSW gold mine.

An independent expert’s report has found private equity group Auctus Chillagoe’s takeover bid for Mungana Goldmines to be both unfair and unreasonable, saying the 13.5 cents a share price was opportunistic and undervalued the business.

An expanded Independence Group would hope to eventually enter the ASX100, chief executive Peter Bradford told a Western Australian Mining Club lunch yesterday.

Japanese miner Sumitomo Metal Mining Oceania has formally acquired a 30 per cent stake in Gold Road Resources’ South Yamarna joint venture project.

The AIMS Financial Group has agreed to buy troubled stockbroker BBY and intends to operate the firm as a standalone entity.

Perth-based Magnolia Resources has engaged two brokers to undertake a $5 million capital raising as part of its reverse takeover of Canadian e-commerce company PDT Technologies.

The board of gold miner Ramelius Resources has given its approval to begin mining at the company's Vivien project near Leinster, while also announcing a $10 million facility secured with the Commonwealth Bank of Australia.

Programmed Maintenance Services managing director Christopher Sutherland says it’s too early to speculate on what price will be put on its proposed merger with Skilled Group, after announcing a 16 per cent slide in net profit to $25.7 million.

Zijin Mining Group has increased its offer to buy all the shares it doesn’t own in Norton Gold Fields to 25 cents a share, boosting the value of the deal to about $41 million.

Energy provider AGL has unveiled plans to sell off more than $1 billion worth of assets and cut costs by $200 million within two years, sending its share price to its highest level in eight years.

Shares in gold and copper explorer Frontier Resources doubled on news it will acquire an 80 per cent stake in the Gold Ridge mine in Guadalcanal, previously operated by St Barbara.

Two well-known mining industry executives will assume control of ASX-listed Brumby Resources in a merger they hope will establish the new company as a producer in the medium term.

Evolution Mining has snared the Cowal gold mine in central NSW for $US550 million ($A702.74 million).

Shares in workplace provider Skilled Group have jumped 12 per cent after it announced it was in merger talks with rival Programmed Maintenance Services.

Gold, nickel, zinc and copper producer Independence Group has struck a $1.8 billion deal to acquire Sirius Resources.

Venturex Resources has signed a conditional term sheet to sell its Pilbara copper-zinc project to a mining-focused investment group for $14 million in cash.

Neale Fong-chaired Chrysalis Resources has announced its intention to enter the tech market by acquiring a Philippines-based company which operates a mobile banking, payments and remittance platform.

UK-based Bushveld Minerals has launched its second takeover bid for local coal explorer Lemur Resources in two years, this time proposing to acquire all the shares it doesn't own in the business for about $10.9 million.

Digital CC has completed a $3.5 million capital raising to fund the roll out of its remittance product AirPocket to Latin America and Caribbean markets.

Film and TV streaming service Quickflix has raised $775,000 from investors as it strives to compete with new competitors like Netflix.

Mining junior RNI says a number of recent cost-cutting measures included staff redundancies and salary cuts across the board, as the company announced a $26.5 million recapitalisation plan to pay off debt.

Uranium miner Vimy Resources has received a $30 million financing package from a mining-focused private equity fund, to advance ongoing development of its flagship Mulga Rock project near Kalgoorlie.

West Perth-based Liquefied Natural Gas Ltd has tapped investors for a $174 million capital raising to fund ongoing development of its two North American LNG projects.

Kerry Stokes' Seven Group Holdings has increased its stakes in energy companies Drillsearch Energy and Beach Energy.

Blackham Resources has negotiated a $38.5 million funding package from a mining-focused investment firm to complete a feasibility and bring its Matilda gold project into production.

HBF has announced it will formally merge with its subsidiary HealthGuard, in an effort to save costs and boost efficiency.

Aziana has received firm commitments from its two largest shareholders for a $4 million capital raising it is undertaking as part of its reverse takeover of US-based biotech firm BrainChip.

A local consumer services technology company currently in the middle of a backdoor listing has welcomed former iiNet chief executive Michael Malone to its board as a director.

A wearable technology company founded by Perth entrepreneur Justin Miller and an Israeli medical cannabis company are the latest businesses planning to join the rush of backdoor listings on the ASX, though the news is not all positive with Voyager Global Group becoming the seventh company forced to cancel an announced deal in the past 18 months.