Deals

The financial incentives for higher cost mid-tier miners to either share infrastructure or merge is at an all-time high, according to accounting firm EY.

Quintessential Resources is set to relist on the ASX tomorrow after morphing into technology incubator Yonder and Beyond, but plans by three travel businesses, including George Michalczyk's Motive Travel, to undertake a backdoor listing through Red Gum Resources have fallen through. Click through to also see the BNiQ listing of 26 WA backdoor listings.

East Perth-based financial services group Pioneer Credit has delivered an interim profit after tax of $1.6 million, but said it was still on track to achieve a FY15 profit of $6.6 million in its first full financial year as a public-listed company.

Perth-based Amcom Telecommunications has posted a 16 per cent slide in half-year profit to $9.3 million on the back of a fall in revenue from its IT services business.

Matrix Composites & Engineering has resumed dividend payments after reporting a net profit of $3.9 million on the back of a 21 per cent increase in sales revenue.

Perth-based minerals explorer ABM Resources has announced plans to tap investors for a $14.2 million capital raising to fund development of the Old Pirate gold deposit in the Northern Territory.

Shares in Nomad Building Solutions were up 26 per cent today, after the company announced it would acquire privately-owned Bloomer Constructions Qld for up to $10.4 million, which offset news of an expected loss in its McGrath Homes business.

Oil and gas explorer Tangiers Petroleum has raised $7 million in a discounted placement to complete its acquisition of the Icewine project in Alaska.

Shareholders in Toll Holdings are set for a windfall after Japan Post made a $6.5 billion takeover for the Australian transport and logistics firm.

Northern Minerals has attracted a Chinese-based funding partner to provide up to $49.5 million for its flagship Browns Range heavy rare earths project near Halls Creek.

Nedlands company Proteomics International Laboratories is hoping for increased support for its initial public offering after finalising an agreement with a Chinese drug development business.

QBE Insurance Group has entered into an agreement to sell its Australian and New Zealand agency businesses to insurance broker Steadfast Group in late March.

West Perth gold explorer Orinoco Gold is aiming to become a gold producer in 2015, after announcing a $14 million package to commence production at its Cascavel project.

Perth-based explorers Pura Vida Energy and Primary Gold have announced their intention to raise capital to fund their respective projects.

Gold miner Newcrest has flagged the possible sale of the Telfer mine in Western Australia, one of its main assets.

Australia's biggest workforce provider, Skilled Group, has unveiled a flat first-half profit result although its engineering and marine services businesses posted strong earnings.

Subiaco-based explorer RTG Mining has raised $15 million through the placement of about 22 million shares to fund exploration and development of its projects in the Philippines.

Kalgoorlie-based Phoenix Gold has raised $5 million from a placement and plans to raise an additional $1 million in a share purchase plan.

Spookfish has made a solid debut on its first day of trading on the ASX after a backdoor listing, building on big gains over the past six months as investors were buoyed by the geospatial company's high-profile backers.

Metals X has agreed to acquire a 25 per cent stake in Tanami Gold’s Central Tanami gold project in the Northern Territory for $11 million in cash and 4 million shares.

West Perth-based Golden Rim Resources will sell its Balogo gold project to Turkish company MNG Group for up to $12.8 million, with the full payment dependent on the mine going into commercial production.

As counter-intuitive as it may seem, listed automotive and aerospace equipment developer Orbital Corporation has made the first major move in its diversification strategy by buying a mine site safety product spun-out of a resources-focused electrical and engineering contractor.

Perth-headquartered Bristow Helicopters Australia has acquired an 85 per cent interest in Darwin-based Airnorth for $30.3 million.

New York-based resource investment company Sigur Minerals has taken a $1.9 million placement in Walkabout Resources, representing 19.9 per cent of the Perth-based junior exploration firm’s stock.

Perth-based safety equipment developer Mobilarm has completed a $2 million convertible note issue, as it cranks up a new strategy focused on rental rather than sale of its man-overboard safety beacons.

West Perth-based Regal Resources has entered into a $6.3 million share placement agreement with a UK-based investor to fund a bankable feasibility study for its 30 per cent owned Kalongwe copper project in Africa.

Social media company migme has cancelled plans to undertake a share placement, after being battered by volatile markets and selling by long-term shareholders who had acquired the stock when it was a mining business.

Two of Australia's largest property groups, Novion and Federation Centres, which together own 16 shopping centres in WA, say they will merge to create an $11 billion company.

Shares in Perth-based oil and gas explorer Titan Energy have surged on news it has signed a $US50 million funding deal with an undisclosed US-based investor to pursue drilling programs at its Allen Dome oil project in Texas.

Black Range Minerals shares closed on a high today on news it had received a takeover proposal from Canadian-based Western Uranium Corporation for all of the company’s shares.

The Water Corporation has announced plans to sell its in-house engineering and construction services team, which has 152 permanent employees.

Tumbling commodity prices have stymied an $872 million takeover bid for engineering group Bradken, stripping more than 30 per cent from its shares.