Deals

Perth-based explorer Bannerman Resources has tapped investors for $4 million to fund an engineering program to help reduce cost estimates at its $US793 million Etango uranium project in Africa.

Gina Rinehart and Shanghai CRED’s joint venture has proposed a counter-bid to that of the all-Australian consortium competing for the Kidman cattle empire, and says Hancock Prospecting would wholly acquire the target if foreign investment approvals aren't awarded.

A carbon foam-focused company chaired by Perth-based chartered accountant Gary Steinepreis has made huge gains on its first day of trading on the ASX, after completing a $9 million initial public offering.

Four Perth-based mining companies have today announced plans to raise capital, with Doray Minerals leading the change with confirmation of a $24.9 million placement.

Carnegie Wave Energy has wholly acquired solar power and lithium battery storage provider Energy Made Clean by purchasing the 65 per cent stake it didn’t already own.

Local waste management company Tox Free Solutions has entered into an agreement to buy medical waste solutions business Daniels in a cash, scrip and debt deal worth $186 million.

Copper and gold miner Sandfire Resources has increased its stake in Montana-based copper play Tintina Resources by 4 percentage points to 61 per cent in a $C4.2 million ($4.1 million) deal.

Gina Rinehart's Hancock Prospecting has announced a $US300 million ($A395 million) investment in a UK-based fertiliser business chaired by former Fortescue Metals Group deputy CEO Russell Scrimshaw.

Mineral Resources and Pilbara Minerals have resolved their offtake dispute for the Pilgangoora lithium project, with MinRes to surrender its entitlements in return for a $50 million stake in Pilbara.

Nuheara plans to raise up to $5 million to support the production of its IQbuds wearable technology, which it plans to launch in January.

Alaskan-focused oil and gas explorer 88 Energy has attracted two US-based investors for an $11 million capital raising to bolster its balance sheet.

Perth-based broking firm Patersons Securities is understood to have won a spot on the panel of retail brokers that will support the $2 billion initial public offering of Alinta Energy.

Panoramic Resources has finalised plans to spin-out its Gum Creek gold project through the partial divestment and ASX listing of its Horizon Gold subsidiary, with a $15 million initial public offering launched today.

ASX-listed Millennium Services Group has acquired Perth-based cleaning and maintenance company Airlite Group for $25.1 million.

Philippines-focused oil and gas play Nido Petroleum has launched a $31.9 million capital raising to fund drilling work at its Galoc project.

Local gold miner Northern Star Resources has entered into a joint venture agreement to acquire a major stake in Pioneer Resources' Acra gold project near Kalgoorlie in a deal worth up to $3.5 million.

4DS Memory has tapped investors for $4 million to fund ongoing development of its memory technology.

Rox Resources’ joint venture partner Teck Australia has matched a competing bid for the company’s stake in the Reward zinc-lead project in the Northern Territory for up to $20.6 million.

Artificial intelligence company OpenDNA has announced plans to list on the ASX, with Perth-based stockbroker Argonaut to lead a $10 million initial public offering.

Saracen Mineral Holdings has attracted AngloGold Ashanti for a farm-in agreement for its Carosue Dam North gold project near Kalgoorlie, valued at $25 million.

A local gold company founded by prominent prospector Denis O'Meara hopes to begin trading on the ASX by the end of next month after completing a $10 million initial public offering.

Shares in Australian furniture maker and retailer Fantastic have soared on news it has received a $361.4 million takeover offer from larger rival Steinhoff Asia Pacific, the owner of Freedom and Snooze brands.

Global Construction Services will pocket $17.5 million when it completes the sale of its stake in Melbourne-based SmartScaff.

Iron ore miner BC Iron has confirmed a $25.5 million capital raising backed by major shareholder Kerry Stokes to fund work at its Buckland project and pay off debt.

Two well-known Leederville cycling businesses have hit differing problems this week, with retailer Riders Choice going into voluntary administration and accessory manufacturer Cycliq facing a regulatory speed bump on its path to an ASX listing.

Power generation company Pacific Energy’s second-largest shareholder has sold its $50 million stake in the business to a number of undisclosed investors.

AMP Capital has bought the newly built Eastern Goldfields regional prison, joining the likes of Catholic Super, Australian Super and Aberdeen Asset Management as private owners of public infrastructure assets in Western Australia. Click through to see the BNiQ listing of public assets in private hands.

SPECIAL REPORT: Perth’s major business brokers are adapting their strategies to deal with a changing buyer profile and a general softening of prices.

The federal government has promised an "arms-length" decision on Gina Rinehart and Shanghai CRED’s joint $365 million bid for cattle empire S. Kidman & Co, which will still require foreign investment approval.

Troubled iron ore miner BC Iron has sold its majority stake in the Nullagine joint venture to Fortescue Metals Group for just $1, along with some royalty payments.

Spanish-controlled construction giant CIMIC Group has launched a $524 million takeover bid for its ASX-listed rival UGL.

South Australian mining junior Flinders Mines has announced a capital raising of $5 million, with the company to put the cash towards a loan repayment and tenement expenditure commitments at its Pilbara iron ore project.