Gold miner Saracen Mineral Holdings has completed the institutional placement and the institutional component of its pro-rata accelerated non-renounceable entitlement offer as part of it’s A$796-million raising to fund the acquisition of a 50% interest in the Kalgoorlie Super Pit mine, in Western Australia.
The Australian Takeovers Panel has received an application to prevent uranium miner Energy Resources of Australia (ERA) from undertaking its proposed A$476-million renounceable entitlement offer.
JSE-listed industrial group Barloworld is eyeing several further acquisitions as it closes in on the purchase of a Caterpillar dealership in Mongolia, the due diligence on which has been completed.
Junior KGL Resources will raise some A$8.2-million through an entitlement offer to fund drilling at its Jervois copper project, in the Northern Territory.
The company on Monday said it would undertake a one-for-eight non-renounceable entitlement offer priced at 23c a share. The offer price represented a 6.12% discount to KGL’s trading price on November 15.
ASX-listed gold explorer Tietto Minerals will raise A$17-million in a share placement to fund exploration work at its Abujar gold project, in Côte d’Ivoire.
Some 65.4-million shares will be placed at 26c a share, in two tranches.
US miner Contura Energy’s $800-million bet on international coal markets is souring.
NYSE-listed Arch Coal on Friday announced that it had discontinued longwall operations at its Mountain Laurel mine in Logan county, West Virginia, three months earlier than planned. The move is expected to reduce Arch's fourth quarter coking coal volumes by between 150 000 t and 200 000 t and its fourth quarter operating results by about $20-million compared with previous expectations.
Coal miner and supplier Buffalo Coal on Friday reported a headline loss a share, for both basic and diluted shares, of R0.05 for the three months to September 30. This is a 71% variance from the R0.18 a share reported for the September 2018 quarter.
Uranium miner Energy Resources of Australia (ERA) has announced a A$476-million renounceable entitlement offer to fund the rehabilitation of its Ranger project, in the Northern Territory, with major shareholder Rio Tinto saying it would subscribe for its full entitlement.
ASX-listed Karoon Energy has completed the retail component of it’s A$284-million capital raise.
The retail entitlement offer closed on November 12, raising A$109-million, priced at 93c a share.