Deals

Oil and gas entrepreneur Peter Allchurch is set to become a major shareholder in Perth company TW Holdings after striking a deal to sell a Texas shale oil project to the listed company.

Property executives were the big movers in this year’s Wealth Creators list, while the resources slowdown put the hurt on mining services directors’ fortunes.

The liquidators of timber plantation assets formerly owned by collapsed managed investment scheme Great Southern may have found a buyer for the assets, with an investment trust managed by Sydney-based company New Forests agreeing to purchase the plantations.

Gina Rinehart's Hancock Prospecting is set to boost its stake in oil and gas explorer Sun Resources, agreeing to invest a further $2 million in the company in exchange for around 65 million shares.

Drilling contractor Swick Mining Services is planning to invest up to $6.5 million in a Swedish mineral analysis technology company as it looks to turn around its performance.

Atrum Coal has completed an $18.5 million equity raising as it looks to accelerate development at its Groundhog anthracite project in Canada.

MZI Resources has completed a $5 million equity raising, with international private equity group Resource Capital Fund boosting its stake in MZI to just less than 15 per cent.

Tiger Resources has bolstered its finances with a $42.5 million capital raising as it works towards commissioning its Kipoi copper project in the Democratic Republic of Congo.

Shares in West Leederville-based Glory Resources have soared on the back of the gold explorer receiving a $30.5 million friendly takeover offer from Canadian miner Eldorado Gold.

Sirius Resources has raised around $83.5 million through a share placement as it works towards the development of its Nova-Bollinger project.

Subiaco-based uranium explorer Black Range Minerals has announced it will pay US$10 million to acquire Canadian miner Uranium One's Shootaring Canyon mill in the US.

Como-based gold miner Medusa Mining will seek to raise up to $25 million through a share placement to institutional investors.

Shares in listed oil and gas explorer Jacka Resources closed the day's trade more than 14 per cent higher after the company announced it had secured a convertible facility worth up to $5.5 million.

Base-metals company Ventnor Resources has announced a joint venture with

Perth-based investment group Bentley Capital has launched a $2.3 million unconditional on-market takeover offer for South Australian minerals explorer Marathon Resources.

Rare earths explorer Northern Minerals struck a 50 per cent offtake agreement with Japanese trading giant Sumitomo Corporation last December – but it was nine months before the deal was announced. The timeframe is indicative of the measured approach taken by the Japanese, according to Northern Minerals managing director George Bauk.

Chinese interest in Australian property and resources may be in the spotlight, but Japan still has a significant foothold, particularly in WA.

Sundance Resources has signed agreements to raise $40 million from a consortium of investors as it looks to progress its Mbalam-Nabebe iron ore project in West Africa.

Adelaide-based company Minotaur Exploration has acquired 91 per cent of Perth-based Breakaway Resources in an off-market takeover.

Perth-based explorer Australian American Mining Corporation has announced further capital raising plans as it looks to bring its American copper interests to production.

Anatolia Energy has completed a $6.2 million capital raising and commenced development works at its Temrezli uranium project in Turkey.

Canning Vale based medical and emergency services provider Hostile Environment Services has stepped up its growth strategy after agreeing to sell 55 per cent of its business to Europe's largest private ambulance service provider, Falck.

Iron ore junior Pluton Resources has completed a $3 million placement.

West Perth-based junior Avanco Resources has completed an $18.1 million share placement as it looks to fast-track development of its Pedra Branca copper project in Brazil.

Perth based stockbroking firm Patersons Securities is punting on investors’ emerging appetite for biotech stocks, agreeing to underwrite New Zealand biopharmaceutical company Innate Immunotherapeutics’s $16.5 million initial public offering.

Shares in Tawana Resources have soared on the back of news the junior miner plans to raise $2.9 million through a share placement.

Antares Energy has raised $10 million from institutional investors towards drilling activity at its Northern Star project in West Texas.

Subiaco-based miner Attila Resources says it is fully funded to move towards a final development decision on its Kodiak coking coal project following the completion of a $7 million capital raising.

The Brian Gilberston-led Jupiter Mines plans to seek a delisting of its shares from the Australian Securities Exchange, after its major shareholder lifted its stake in the business.

The past year has been tough for listed WA companies looking to raise funds but a lift in activity during the past three months has the industry cautiously optimistic.

A $93 million private merger funding for City Farmers’ expansion sets the pattern for WA companies in a tight capital investment market.

The sale of 16 private businesses worth an estimated $500 million helped to sustain activity in what was otherwise a depressed market for mergers and acquisitions in the September quarter in Western Australia.