Deals

Local explorers Danakali and Duketon Mining have raised a combined $11.6 million to fund ongoing work at their respective developments.

Apartment developer Finbar Group has unveiled plans to build a three-tower residential complex in Applecross, with the project expected to fetch $350 million.

Local minerals explorer Kasbah Resources has received a takeover offer from a Vietnam-focused nickel miner, which values the target at about $21.1 million.

USA-focused gold explorer Anova Metals has raised $9 million from investors to progress development of its Big Springs project in Nevada, USA.

JB Hi-Fi has welcomed the competition watchdog's green light to make a move for whitegoods retailer The Good Guys.

Scarborough-based West African Resources has tapped investors for a $21 million capital raising to pay off debt and fund ongoing development of its Tanlouka gold project.

Heron Resources is the latest company to announce plans to spin-out its non-core assets into a new company, following similar recent movements by Metals X, TNG and Indiana Resources.

Rox Resources has received a competing offer for its stake in the Reward zinc project in the Northern Territory, with Marindi Metals saying its offer will expire at 5pm today if it is not accepted. 

OTOC has expanded its surveying portfolio with the acquisition of local company WKC Spatial for $1.9 million.

Craig Munro-chaired Gulf Manganese Corporation has received a $US10 million ($A13 million) equity commitment from an Indonesian investor to progress development of its Kupang smelting hub in West Timor.

Underwater services company Shelf Subsea has merged with the local subsidiary of global geotechnical, survey and geosciences company Fugro in a deal worth $40 million.

Monadelphous Group has restructured its interest in struggling waste technology company AnaeCo, with a debt for equity swap and loan sale that will see the Perth engineering firm emerge with a 30 per cent stake and a Chinese enterprise with a 55 per cent interest.

Diversified miner Metals X has confirmed a $115.6 million capital raising and plans to demerge its gold assets into a new company, which will be led by existing chief executive Peter Cook.

Local explorer Primary Gold has purchased a gold mine from Adelaide-based MacPhersons for $10 million in cash and shares.

Rare earths hopeful Northern Minerals has attracted another Chinese investment group for a $30 million equity injection into its Browns Range project.

West Perth-based mining consultancy CSA Global has expanded its global network with the acquisition of Toronto-based ACA Howe International.

Local explorer Cassini Resources has attracted OZ Minerals as a joint venture partner for its West Musgrave nickel-copper project.

Iluka Resources has confirmed plans to wholly acquire Africa-focused miner Sierra Rutile in an all-cash deal valued at about $375 million.

Perth business executive Tim Brady is planning to list his new software business AssetOwl on the ASX through a $6 million reverse takeover of Regalpoint Resources.

Mineral sands miner Iluka Resources has revealed it is in takeover talks with London-listed Sierra Rutile, an Africa-focused miner with a market cap of about $400 million.

Biotech firm Admedus has tapped investors for $18.3 million to fund ongoing development of its medical technologies.

Major health insurers HBF and Bupa have announced they will invest in the development of fellow insurer nib’s online health service platform, Whitecoat, which promotes itself as a TripAdvisor-like model offering consumers search, booking, survey, and pay functions for healthcare treatment.

Investor interest has swung strongly towards the resources sector this year, but opportunities remain for tech companies aiming to list on the ASX.

Tempo Australia has expanded its service offering with the acquisition of local electrical, telecom and data communications contractor Cablelogic for an undisclosed sum.

Gold miner Barrick Gold today announced its intention to sell its 50 per cent stake in Kalgoorlie’s iconic Super Pit, which is Western Australia’s second largest gold mine.

Motoring, travel, retirement and financial services group Royal Automobile Club of WA is understood to have sold part of its aged care homes services business to Sydney-based Quadrant Private Equity.

Not for profit MercyCare will boost its residential aged care services with the acquisition of privately-owned Belrose Care Group for an undisclosed sum.

Investor chat forum HotCopper is aiming to list on the ASX in September after lodging a prospectus that reveals a big sell-down by existing shareholders and an expected loss in the current financial year, and makes no mention of outgoing managing director Greg D’Arcy.

Three local tech companies have tapped investors to raise a combined $20.1 million, with the funds to be put towards shoring up their balance sheets and further developing their products.

Triton Minerals is set to get a second chance after administrators Ferrier Hodgson released control of the business to a private gold company and a corporate finance firm, which will raise a combined $14.1 million and relist the graphite explorer on the ASX.

Gold and nickel miner Independence Group has announced a $280 million capital raising to bolster its balance sheet, making it the largest raising by a Western Australian company for 2016.

Ramelius Resources has raised $25 million from investors to fund a development program in the Murchison region that is targeting a 40,000 ounce increase in gold production by FY18.