Adriatic raises cash and looks at London listing
ASX-listed Adriatic Metals has completed a A$25-million institutional placement, announcing on Wednesday plans for a secondary listing on the London Stock Exchange before the end of the year.
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Black Royalty Minerals chosen as preferred bidder for Koornfontein mine
Junior miner Black Royalty Minerals (BRM), a subsidiary of the Makole Group, has been selected as the preferred bidder to acquire the Koornfontein coal mine, in Mpumalanga.
The transaction includes the mine’s port allocation at the Richards Bay Coal Terminal.
TerraCom takes major stake in Universal Coal
ASX-listed TerraCom has taken a 19.9% stake in South Africa-focused coal miner Universal Coal, in a deal worth A$34.6-million.
TerraCom on Wednesday said that it had acquired 104.5-million Universal securities from Coal Development Holding for A$17.3-million in cash and some 34.2-million of its own shares.
Coal baron Murray stood up for miners until he ran out of money
Coal baron Robert Murray’s support for union miners is part of the lore surrounding a man who’s worked in the industry for six decades. Now, that battle has ended.
Eagle Mountain makes a play for Oracle Ridge
ASX-listed junior Eagle Mountain Mining is hoping to gain an 80% interest in the Oracle Ridge copper mine, in Tucson, for $6.9-million. Eagle Mountain on Tuesday told shareholders that it was advancing discussions with the vendor, but was yet to execute a letter of intent, as the vendor was awaiting approval by the Arizona Superior Court.
Azumah backs higher bid from Ibaera
The directors of takeover Azumah Resources has supported an increased offer from suitor Ibaera Capital, which has increased its offer from 2.8c a share to 3.3c a share.
Azumah on Monday said that the increased offer represented a 136% premium to the company’s closing price prior to the announcement of the offer, and an 18% premium to the initial offer.
Edenville appoints new CEO
Aim-listed Edenville Energy has appointed Alistair Muir CEO, effective November 1.
He succeeds Rufus Short, who is stepping down to devote more time to family and other interests, but will continue serving on the board as nonexecutive director.
Samarco plans restart in 2020
The Brazilian joint venture (JV) between majors BHP and Vale, Samarco, has been given all the necessary environmental licenses to restart its operations in the state of Minas Gerais.
The Samarco operations were suspended in November 2015 after the collapse of a tailings dam, claiming the lives of 19 people and displacing numerous others.
Vimy launches SPP to raise more cash
Uranium hopeful Vimy Resources has launched a share purchase plan (SPP) aimed at raising A$3.9-million to strengthen its balance sheet and bolster working capital.
Glencore lifts year-to-date cobalt, zinc, coal and lead output
Diversified miner Glencore achieved higher output of cobalt, zinc and coal in the nine months ended September 30, but copper, nickel and ferrochrome production decreased year-on-year.
The LSE- and JSE-listed company’s own-sourced copper production for the period under review was 47 300 t, or 4%, lower year-on-year at 1.01-million tonnes.