Japanese group Mitsui & Co has begun the compulsory acquisition process of Waitsia gas field operator AWE, after increasing its stake in the oil and gas company above the 90 per cent threshold last week.
King & Wood Mallesons Partner Nathan Collins, who was involved in the debt restructuring of troubled uranium miner Paladin Energy, says the deal, which left existing shareholders with a 2 per cent stake, was the only real option for the company.
Emerge Gaming (formerly Arrowhead Resources) started trading on the ASX today, after the former junior explorer completed a reverse takeover of private technology company Gaming Battle Ground for $3.7 million, and raised $5 million via an initial public offering.
Perth-based Genesis Minerals has received commitments to raise $5 million through a share placement, with the funds to be spent on a drilling program and a feasibility study at its Ulysses gold project.
Finbar Group has raised $31 million through a share placement, with the funds going towards the construction of the $350 million Canning Bridge project in Applecross and the $108 million Palmyra Apartments Estate project.
Junior explorers Black Mountain Resources and Australian Vanadium have announced $3 million capital raisings, while gold-focused Crusader Resources is tapping investors for $6.5 million as part of its initial public offering on the London AIM.
ASX-listed MGC Pharmaceuticals announced today that is has been awarded a contract to build a medical cannabis production facility in Malta, with a $5 million capital raising set to help fund the project.
Mark Creasy-backed Galileo Mining has launched its prospectus to raise up to $15 million via an initial public offering to fund an exploration program across its tenements in the Fraser Range near Norseman.