BNP Paribas

THE outlook for shares, although threatened in the short term by high bond yields and the Y2K fear, remains bullish for 2000 according to BNP Equities latest report card on equity markets.

BNP Paribus Fund Services Australiasia Pty Ltd ceased to be a substantial shareholder

In what is a key step towards facilitating a finance offer for project development, Australasian Resources Ltd and project partner Shougang have appointed BNP Paribas as its advisory bank.

Liquefied Natural Gas Limited has raised nearly $11 million to progress development at its Magnolia LNG project in Louisiana, while at the same time announcing it had appointed BNP Paribas as its project finance adviser for the $US2.2 billion project.

Gina Rinehart has virtually ensured her family's long-held dream of operating its own iron ore mine, securing final funding for her massive Roy Hill project.

A range of sophisticated and institutional investors have been named as some of the major shareholders in financial services firm Pioneer Credit following its $40.2 million IPO.

Belmont-based contractor GR Engineering Services has won a $10.3 million contract to provide engineering, procurement and construction management work at Finders Resources’ Wetar Copper project expansion in Indonesia.

Sirius Resources has secured $440 million to fund the development of its Nova nickel mine, coinciding with it receiving mining approval from the Department of Mines and Petroleum.

Perth-based gold miner Millennium Minerals has negotiated $5 million in additional debt funding from its major shareholder IMC Group but the deal is dependent on Millennium's current bankers agreeing to reschedule debt repayments due at the end of this month.

Troy Hayden will step down from the helm of Tap Oil as the company swings the axe on jobs and operations so it can meet its now-restructured debt repayment obligations.

Gold miner Perseus Mining has announced the biggest capital raising by a Western Australian company for the year, topping the likes of Pilbara Minerals and Gold Road Resources.

Perth gold miner Saracen Mineral Holdings has locked in a financing facility of up to $150 million with a banking syndicate, replacing a previous loan deal that expired in September.

Aspiring miner Dacian Gold has started construction of its Mt Morgans project near Laverton, after finalising regulatory approvals and locking in a $150 million funding deal over the Christmas break.

Galaxy Resources has secured a $US40 million ($A53 million) facility with BNP Paribas to square off its existing owings to investment group OCP Asia.

Mining services business Ausdrill has launched a $100 million capital raising to bolster its balance sheet, as it anticipates further growth in its African operations, and negotiated an expanded debt facility.