Coal exports bring Bathurst down
Coal miner Bathurst Resources has reported reduced earnings and revenue for the first half of the 2021 financial year, as its export business continued to face significant challenges.
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Anglo achieves resilient performance in a tough year
As much of the world was tested to its limits by the Covid-19 pandemic during 2020, the resilience of diversified miner Anglo American's diversified business, along with strong metals prices in the latter months of the year, resulted in underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) of $9.8-billion and a mining Ebitda margin of 43%.
Mayur eyes more value as it completes PNG spin-out
ASX-listed Mayur Resources has completed the spin-out of its Papua New Guinea copper and gold assets into a TSX-V listed company called Adyton Resources Corporation.
More than C$10.5-million was raised through the spin-out through a syndicate of northern hemisphere banks, which valued the newly listed Adyton at some C$38-million.
Pure/Strata X merger gets new name
The merged entity between ASX-listed Real Energy Corporation and its joint venture partner Strata X will be known as Pure Hydrogen Corporation, and will trade on the ASX under the code PH2. Real Energy and Strata X in July of last year agreed to a merger under which Real Energy shareholders would receive one new Strata-X share for three of their Real Energy shares.
Orion Minerals raises major cash for South African copper project
Dual listed copper developer Orion Minerals on Thursday announced a A$25-million capital raising to fast track the development of its two base metal production centers in South Africa.
Orion told shareholders that it would conduct a two-tranche share placement to sophisticated and professional investors, comprising more than 694.4-million shares, at a price of 3.6c each.
Exxaro puts some Tronox shares up for sale
JSE-listed diversified miner Exxaro Resources has started a public offering for up to 17-million ordinary shares in NYSE-listed Tronox Holdings.
Tronox, an integrated titanium dioxide pigment manufacturer, on February 23 exercised its “flip-in” call option over Exxaro’s 26% shareholding in Tronox’s South African subsidiaries.
Venturex unveils A$58m capital plan
ASX-listed Venturex has unveiled a A$58-million recapitalization plan, which would see mining executive Bill Beament take a major share in the company.
Venturex on Wednesday said that it would raise an initial A$14-million through a share placement, priced at 8c each, with Beament to contribute A$8.9-million to this initial placement.
Caravel raises copper funds
Junior Caravel Minerals will raise A$9-million to fund prefeasibility work at its Caravel copper project, in Western Australia.
The ASX-listed explorer has received firm commitments from institutional, sophisticated and professional investors for the placement of 56.25-million shares, at a price of 16c each.
Premier Gold shareholders approve takeover by Equinox
The shareholders of Premier Gold Mines have voted to approve the acquisition by Equinox Gold, paving the way for the transaction to close next month, pending regulatory approvals.
FYI hopes for US listing
ASX-listed FYI Resources is looking at a secondary quotation on the ‘over the counter’ (OTC) market in the US. The company on Tuesday told shareholders that it has started the process for a secondary listing following significant interest from North American investors, in the hopes that it would enhance FYI’s visibility and liquidity to potential investors.