Deals

Gold explorer Kin Mining says it has received commitments from a group of unnamed shareholders to underwrite $8 million of its planned entitlement offer.

Northern Star Resources has made a $150 million offer to move to full ownership of the East Kundana joint venture gold project near Kalgoorlie.

Perth-based Cycliq has announced plans to raise up to $2 million as the cycling products developer ramps-up its business in the lead up to Christmas.

Two local junior explorers have announced capital raisings, with Arafura Resources to launch a $3 million share purchase plan and Encounter Resources receiving a $1.8 million investment from Peter Bradford-led Independence Group.

Sheffield Resources has confirmed GR Engineering Services will design and build the processing plant for the mineral sands-focused company’s Thunderbird project in the Kimberley.

Healthscope has opened its books to Brookfield Capital Partners after the private equity firm made a $4.5 billion play for the private hospital operator, trumping a rival offer already on the table.

The board of Navitas has rebuffed a $2 billion takeover offer from a consortium of investors, which includes co-founder Rod Jones, saying the deal is well below its valuation of the education services company.

Ramelius Resources has increased its takeover bid for gold-focused Explaurum, with the miner making an indicative $73.4 million offer after its first proposal was rejected.

Woolworths has announced the sale of its 540 petrol stations to UK-based EG Group for $1.73 billion, months after BP pulled out of a deal to buy the fuel business.

National automotive services business AMA Group has struck a $68 million deal with new investors, which includes a big share selldown by management, after Perth-based Andrew Hopkins became the company’s chief executive.

Salt Lake Potash has tapped investors for $13 million to fund development of its Goldfields salt lakes project.

Navitas founder Rod Jones has stepped down from the board to manage his conflict of interest in relation to the $2 billion indicative takeover proposal for the education services company.

The competition watchdog will allow Fairfax Media's $4 billion merger with Nine Entertainment to go ahead after deciding the move would not diminish competition in Australian news and media.

West Perth-based Golden State Mining is set to list on the ASX tomorrow, after the company raised $4.6 million via an initial public offering.

Strandline Resources has boosted its coffers with a $3 million capital raising to fund development its mineral sands projects in Tanzania and Western Australia.

The state government is set to receive nearly $190 million by selling its stake in online settlements company Property Exchange Australia.

Terry Streeter-chaired Moho Resources is set to list on the ASX tomorrow, while the experienced mining executive has also been appointed to the board of Chile-focused explorer Emu.

Perth-based Westminster Insurance Brokers is confident of future growth after national player Coverforce took a minority stake taken in the business.

88 Energy advises that the Non-Renounceable Rights Issue announced to the ASX on 3rd October 2018, closed on the 26th October 2018.

West Perth-based Emerald Resources has tapped investors for $27 million to fund exploration at the company’s Okvau gold project in Cambodia.

Perth land developers LWP Property Group and PRM Property Group have announced a merger, with the combined group to have four equal shareholders.

The $145 million Quintis recapitalisation deal was completed today, handing control of the sandalwood company to its creditors, led by US group Blackrock.

IMF Bentham announces it is conducting a fully underwritten institutional placement to raise $74.48 million.

Navitas founder Rod Jones and his fellow board members have failed to reach agreement on insider protocols designed to manage conflicts of interest affecting the takeover target.

Alkane Resources is set to take an $8 million stake in takeover target Explaurum via a share placement that breaches the conditions of Ramelius Resources’ hostile bid.

A sluggish approvals process for seismic work at the Xanadu prospect in the Perth Basin has led Whitebark Energy to sell its stake in the project in a $5 million deal, with the money to head to Canada instead.

An $8.7 million deal between local mining companies Tungsten Mining and GWR Group has hit a roadblock, after the ASX said the sale could not go ahead.

Bellevue Gold (formerly Draig Resources) has boosted its coffers with a $15 million share placement to fund exploration work at the company’s Bellevue project near Leinster.

Carnegie Clean Energy will take a reduced stake in ASX-listed Tag Pacific in exchange for the Perth company’s battery storage and microgrid business, after the parties agreed to remove a $2.2 million cash component from their original deal.

Private equity firm BGH Capital and AustralianSuper have returned with another $4.11 billion bid for Healthscope, five months after the private hospitals operator rejected their takeover attempt.

Litigation funder IMF Bentham has announced plans to raise up to $84.5 million to establish two new funds and pursue growth opportunities in Europe and Asia.

New Zealand-based investment group Infratil is considering selling its majority stake in local electricity provider Perth Energy, which recently returned to profit after running at a loss for the past three years.