AustSino Resources Group

The board of Padbury Mining has disputed if dissident shareholders, led by Denis McInerney, have the support of enough shareholders to force a general meeting and board spill.

Tony Sage's Mid-West iron ore play Fe Limited has put more pressure on the embattled board of Padbury Mining, announcing it will bid for the iron ore junior if existing directors Luke Innes, Gary Stokes and Colin Stirling leave the company.

A push by Denis McInerney and a group of dissident shareholders for a board spill at junior miner Padbury Mining has been defeated and cast doubts over a takeover bid by Fe Limited.

Fe Limited has extended the closing date for its Padbury Mining takeover offer by two weeks until November 22.

Hours after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a long-heralded port and rail network at Oakajee, junior explorer Padbury Mining has put its shares in a second trading halt in anticipation of revealing the identity of the investors.

Premier Colin Barnett says he can't see "a great deal of substance" in junior explorer Padbury Mining's claims it has secured a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee, as the company missed a self-imposed deadline to reveal its mystery backer.

Finally, after decades of dithering and empty promises there is hope the ambitious Oakajee port and rail plan in the Mid West will move beyond the drawing board, not that there will be a ground-breaking ceremony for a few more years.

Padbury Mining has sought another extension to its suspension from trading, saying it needs more information from its mystery backer to determine whether they have the capacity to provide a massive $US6.47 billion ($6.89 billion) funding deal to construct a port and rail network at Oakajee.

Padbury Mining has confirmed the identity of its mysterious wealthy backer as hair regrowth businessman Roland Bleyer but has again called for more time before it can disclose details of the funding arrangement.

Less than three weeks after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a port and rail network at Oakajee, junior explorer Padbury Mining says the deal is now dead.

Shares in junior explorer Padbury Mining have plunged as the company resumed trade and revealed details of its short-lived $US6.47 billion ($6.89 billion) equity funding deal to construct a port and rail network at Oakajee.

Padbury Mining has appointed Steinepreis Paganin to review the company's corporate governance policies in the wake of its failed equity funding deal to construct a port and rail network at Oakajee.

The depressed iron ore price is prompting “gun shy” Padbury Mining to increase its tenement asset base, snapping up a hematite and magnetite deposit owned by Radar Iron.

The corporate watchdog has begun civil penalty proceedings against Padbury Mining and two of its directors over statements made last year claiming the company had lined up $6 billion in equity to fund construction of a port and rail network at Oakajee north of Geraldton.

Company director and accountant Graham Anderson, who held positions with about 10 listed companies, has passed away after suffering a heart attack yesterday.

Padbury Mining could soon end its 15-month long ASX trade suspension after attracting a private Chinese investor for a $2 million capital raising.

Padbury Mining and two of its directors have entered into a settlement agreement with the corporate watchdog over misleading statements made last year, but they could still face penalties in the Federal Court later this week.

Padbury Mining directors Gary Stokes and Terry Quinn have each been fined $25,000 and banned from being company directors for three years after the Federal Court found their announcement of a $6 billion funding deal for the Oakajee port and rail project was misleading and deceptive.

Padbury Mining has again attracted regulatory attention, with the company acknowledging it should have notified the ASX when it negotiated potential capital raisings worth $106 million with a Hong Kong-based investor last year.

AustSino Resources Group has appointed Michael Keemink as executive director. Edward Saunders, current executive chair, will become non-executive chair.Peter Smith has been appointed non-executive director of Force Commodities.

Paul Thomson has signed a new service agreement with A-CAP Resources and will transition from his current role of managing director to chief executive.

S2 Resources advises that completion has occurred under the Heads of Agreement that was announced on 14th February 2018.

Westgold Resources Limited is pleased to advise that completion of the sale of the South Kalgoorlie Operations (SKO) to Northern Star Resources Limited as announced on 8 March 2018 occurred on 29 March 2018. 

Helix Resources is pleased to announce the completion of a placement to raise $0.9m via the issue of 30,000,000 at the last market close price of 3 cents. Peloton Capital was the lead manager with the funds raised from institutional and sophisticated investors.

Aurora Minerals has closed its fully underwritten 1-for-1 entitlement offer, raising $1.17 million at 1 cent a share. The offer was heavily undersubscribed, with only $258,630 in subscriptions, while the shortfall of 91,270,212 shares was issued to the underwriter. 

Perry Mitchell has been appointed non-executive director of AustSino Resources Group. Mr  Mitchell has over 40 years of financial and banking experience in Australia and internationally.

A summary of the smaller deals from last week, which did not get included in our daily news coverage.

A summary of the smaller deals from last week, which may not have been included in our daily news coverage.

Michael Ma has been appointed non-executive director of AustSino Resources Group.