Deals

A third party has made a play to acquire private company Bombora Natural Energy, after Zeta Petroleum backed out of its takeover plans with the target yesterday.

Sandalwood producer Quintis has revealed more operational and financial pain, with the embattled Perth company suspending plantation sales, lowering forecast product sales and admitting a $27 million investment would not proceed.

ASX-listed app company MyFiziq has entered into a joint venture agreement with a Singaporean company for the development of a new diagnostic tool for the medical sector.

Energy giant Woodside Petroleum has inked an agreement for the supply of liquefied natural gas to an Indonesian government-owned enterprise.

Ian Trahar has taken a larger stake in his listed agribusiness Seafarms Group while the Perth business taps investors for $10 million.

Waste management business Tox Free Solutions has traded two of its east coast businesses for an industrials business owned by JJ Richards & Sons under an asset swap agreement.

Live cattle exporter Wellard has announced the sale of one of its mid-sized ships to Israeli company Dabbah Slaughterhouse for $US26 million ($A35 million).

CTI Logistics chairman David Watson has sold down his shareholding for the first time since he founded the business in 1972, with Forager Funds Management acquiring some of his shares and investing further funds to become a substantial shareholder.

Zinc and copper explorer Orion Minerals has received a $3 million investment by private equity group Tembo Capital to fund work at its projects in Africa, and has flagged a further $1.8 million capital raising.

Gold and copper explorer Ausmex Mining Group has debuted on the ASX after completing a reverse takeover of Perth-based Eumeralla Resources.

Local explorer GTI Resources has terminated plans to acquire Poseidon Nickel’s Windarra gold assets near Laverton, after missing a near-$1 million payment deadline.

Mineral sands miner MZI Resources has tapped its major shareholder Resource Capital Funds for a $US5 million ($A6.7 million) debt financing deal to expand the mining area at its Keysbrook operation near Serpentine.

Perth IT firm ASG Group has made an all-cash $123.4 million offer to acquire Melbourne-based SMS Management & Technology, but the target has maintained its recommendation of an offer previously put forward by another competitor.

Technology company BrainChip Holdings has tapped investors for $6 million to expand its sales and marketing efforts.

Financial services firm Merchant Group has announced plans to merge with investment bank and funds manager Somers & Partners.

Onshore oil producer Buru Energy has taken full ownership of the Ungani operation in the Canning Basin as part of an asset swap with its joint venture partner, Mitsubishi Corporation.

Swick Mining Services has raised about $5 million from investors to fund the buyout of minority shareholders in a mineral analysis and measurement technology company in which it already owns a major stake.

Logistics and car retailer Automotive Holdings Group has bought a major stake in an east coast-based vehicle auction business for an undisclosed sum.

Subiaco-based Coventry Resources will be rebranded after completing the $8.3 million acquisition of a gold explorer focused on projects in Alaska, and announcing plans for a $10 million raising.

A joint venture between Cottesloe-based Triangle Energy Global and Royal Energy has taken full ownership of the Cliff Head offshore oil project in the Perth Basin after buying out previous stakeholder Roc Oil for $US3.75 million ($A5 million).

West Perth-based Encounter Resources has tapped investors for $3.4 million to fund ongoing exploration at its gold projects in the eastern Pilbara region.

Thermal energy company Enerji has exited administration with plans to raise $5.6 million and lift a share trading suspension on the ASX.

A new Perth-based gold and copper exploration company has closed flat on its first day of trading on the ASX, after completing a $4 million initial public offering.

AusCann Group Holdings has confirmed a $12 million capital raising to fund the development and manufacture of medical cannabis products in Australia.

South African mining giant Gold Fields has spent $64.3 million to increase its stake in Perth-based Gold Road Resources to 10 per cent, as the two companies jointly develop the Gruyere project.

The owner of the $6 billion Balla Balla iron ore project in the Pilbara has entered into an option agreement to acquire the nearby Weelumurra asset from Mineral Resources for an undisclosed sum.

Aspiring potash producer Danakali has tapped investors for $12.3 million as it moves ahead with development of its Colluli project in Africa.

Professional services organisation KPMG hopes to better assist companies affected by changes to foreign worker laws after acquiring the Chamber of Commerce and Industry of WA’s migration services division for an undisclosed sum.

Perth-based Musgrave Minerals has tapped investors for $3 million to fund exploration work at its Cue gold project in the Murchison region.

Engineering and construction contractor Decmil Group has sold its Osborne Park headquarters to Primewest Funds for $27.5 million.

Fairfax Media shares have hit their highest level in six years after a consortium led by US-based private equity giant TPG Capital upped its takeover bid by $500 million and widened it to now include the entire company.

Perth-based Samson Oil and Gas announced today that it had entered into a purchase and sale agreement with a US-based energy company in respect of its State GC assets in New Mexico.