Aurora has ‘no grounds’ to withdraw offer – Eureka

Takeover target Eureka Energy has lashed out at claims that its beau Aurora Oil & Gas planned to withdraw its offer, saying that the company had no grounds to do so. In response to news reports that the company was “exploring the withdrawal of...

BC Iron asks Regent Pacific to consult in ‘good faith’

BC Iron has asked Regent Pacific, which tried to pull out of buying the iron-ore miner, to consult “in good faith” to determine whether the recently-signed scheme of arrangement could proceed. Regent Pacific recently found itself faced with a...

Western Potash hires advisers, in talks to fund project

Canadian junior Western Potash Corp is reviewing a number of options to finance the development of its flagship Milestone project, in Saskatchewan, and is in discussions with groups that have expressed interest in the asset, the company said on...

BHP revives $4,2bn share buyback after scrapping Potash Corp offer

Mining giant BHP Billiton on Monday called off its $40-billion bid for Saskatchewan-based fertiliser company Potash Corp, and reactivated a $4,2-billion share buy-back programme. BHP said in a statement that it had determined that the condition...

Daily podcast – June 22, 2009

In today's podcast: mining giant Xstrata wants talks with mining rival Anglo American about a proposed merger of equals worth about $68-billion; and Gold Fields' Driefontein mine, near Carletonville, remains closed following the death of two...

Fresnillo drops bid for MAG Silver

Silver miner Fresnillo has withdrawn its offer to buy Vancouver-based junior MAG Silver, after deciding the transaction is “no longer in the best interests” of its own shareholders. “Fresnillo's decision reflects the fact that even after...

Gloves come off in battle for Rockwell

The mercury rose a couple of notches on Friday, as the three executive directors of mid-tier miner Rockwell Diamonds defended the company's performance on a conference call, and used the opportunities to take some shots of their own at rogue...

Pala drops bid for Rockwell

Pala Investments has withdrawn an unsolicited bid for Rockwell Diamonds, the Vancouver-based gem-miner said on Tuesday. Pala had offered Rockwell shareholders $0,36 a share, which Rockwell argued did not reflect the true value of the company.

Waratah asks shareholders to reject Mineralogy's bid

Coal hopeful Waratah Coal, which plans to build a coal mine, railway and port in central Queensland, has recommended that shareholders reject an unsolicited offer for a controlling stake in the company from iron-ore billionaire Clive Palmer's...

Rockwell says hostile suitor Pala Investments breached SA securities rules

The South African Securities Regulation Panel (SRP) has ruled against mining investment firm Pala Investment Holdings' offer to acquire the remaining shares of gem-miner Rockwell Diamonds. The investment firm, which already owns a 19,9% stake in...

Placer responds to Barrick shareholder-rights application

Gold major Placer Dome yesterday responded to an application made by hostile-takeover bidder Barrick Gold after the close of markets on Friday, requesting that the British Columbia Securities Commission ( BCSC ) effectively 'strike down' Placer...