Firestone makes good progress with financial restructuring

South African coal miner Firestone Energy said it has made significant progress in the transaction involving its financial restructuring. The ASX- and JSE-listed company announced a major funding agreement with a consortium of international...

Hannans takes control of Scandinavian Resources

Gold and base metals explorer Hannans Reward has taken a 92.9% interest in takeover target Scandinavian Resources, triggering a compulsory acquisition of the remaining shares in the ASX-listed Scandinavian. Hannans launched its share swap offer...

Continental swivels gaze to Colombia

South Africa-focused Continental Coal on Friday announced its intentions to expand its focus to coking coal options in Colombia. The ASX- and Aim-listed miner has entered into an agreement to acquire a 50% joint venture (JV) interest in an...

Alacer Gold warns of higher FY costs

Shares in miner Alacer Gold tumbled on the ASX on Wednesday as it warned that costs would increase by some $55/oz in the 2012 financial year. Alacer, which has a primary listing on the TSX, hiked its operating cost guidance to between $645/oz and...

Magma shareholders told to accept revised Panoramic offer

The board of takeover target Magma Metals has changed its recommendation on the Panoramic Resources bid, and has now urged shareholders to accept the revised offer. Panoramic launched its two-for-17 share offer in February, which Magma, at the...

Strike cripples production at Paladin's Malawi uranium mine

Malawi’s move last week to delink its currency from the US dollar, devaluing by 50%, had an unwelcomed side effect for uranium miner Paladin –workers at its Kayelekera mine in the north of the country on Friday downed tools after the company...

ENK sells off noncore assets

Dual listed emerging nickel miner ENK has sold off its noncore resources assets for some A$7.2-million. The ASX- and Aim-listed miner has sold its 5.01% shareholding in fellow listed Toledo Mining for A$698 000 in cash, as well as its 18.7%...

Company Announcement: Andy Well Mining Lease Granted

Doray Minerals Ltd is pleased to announce that it has received advice from the Western Australian Department of Minerals and Petroleum

Wah Nam extends Brockman offer

China’s Wah Nam International has extended its takeover of ASX-listed Brockman Resources until the end of May. The company was offering Brockman shareholders A$1.50 in cash as well as 18 Wah Nam International shares for every Brockman share held

Heritage splits company to focus on Talisman

ASX-listed Heritage Gold NZ on Wednesday announced plans to split the company into two new entities in order to focus on the development of its Talisman gold project, in New Zealand. The Talisman mine would fall under the newly named New Talisman...

Magma persists in rejecting Panoramic offer

Takeover target Magma Metals on Wednesday lashed out at ASX-listed Panoramic Resources’ efforts to persuade shareholders to accept the offer. In February, Magma Metals labelled the takeover offer as “opportunistic”, advising shareholders to...

Russian court blocks MMK takeover of Flinders

The share price of Flinders Mines dropped nearly 17% on the ASX on Wednesday after a Russian court blocked a takeover attempt by Magnitogorsk Iron and Steel Works (MMK). Flinders said in a statement that a minority shareholder in MMK had sought...