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Articles by Finders Resources
Silver Lake cops fine for worker injury
Silver Lake Resources has been fined $58,000 in Perth Magistrates Court following an incident in 2014 that seriously injured a worker at its Murchison gold operation, located 25 kilometres southeast of Cue.
Metals X increases production by 11pc
Metals X has announced encouraging production results at its Nifty copper mine in the Pilbara, which it had to suspend operations at in 2017.
Silver Lake and Doray in $421m gold merger
Local gold producers Silver Lake Resources and Doray Minerals have announced a merger to create a combined mid-tier company, led by Silver Lake managing director Luke Tonkin. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
New CEO for Metals X
Poorly performing copper miner Metals X has appointed Damien Marantelli as its new managing director, with incumbent Warren Hallam and chief operating officer Allan King leaving the company. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Rand forced to sell $60m Tribune stake
The Takeovers Panel has ordered the sale of a $60.1 million stake in gold miner Tribune Resources, along with updated disclosure from some of the company’s major shareholders. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Western Areas approves $299m Odysseus
Nickel producer Western Areas has given the green light to develop its Odysseus project following completion of a definitive feasibility study, which detailed a capital cost of $299 million. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Panel blocks major shareholder
The Takeovers Panel has blocked a major shareholder of Finders Resources from accepting the recent takeover offer after the corporate watchdog submitted an application to the panel. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Finders in board overhaul
Finders Resources has announced a board overhaul following the recent $177 million takeover by Indonesian group Eastern Field Developments, with David Fowler appointed as acting chief executive.
ASIC intervenes in Finders takeover
The corporate watchdog has submitted an application to the Takeovers Panel asking it to block certain shareholders of Finders Resources from accepting an offer for their shares. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
ASIC takes Finders to panel
The corporate watchdog has submitted an application to the Takeovers Panel requesting the cancellation of acceptances from a major shareholder and independent directors of Finders Resources, with the copper miner in the midst of a hostile $177 million takeover from an Indonesian group. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Eastern Field takes control of Finders
Indonesian group Eastern Field has taken control of Finders Resources, five months after announcing its takeover bid, which values the copper miner at about $177 million. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Panel throws out Eastern application
The Takeovers Panel has dismissed an application from Indonesian group Eastern Field Developments regarding its takeover target Finders Resources, with the panel determining that appropriate action has been taken by the company in relation to its Wetar project. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month. To read more, pleasebelow or Subscribe For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Eastern increases stake in Finders
Indonesian group Eastern Field Developments has increased its stake in Finders Resources as the major shareholder pursues a hostile takeover of the copper miner valued at around $177 million. The group now owns about 34 per cent, up from 27 per cent, and has extended the offer period for another week to March 23.
Eastern takes Finders to panel
Finders Resources’ largest shareholder Eastern Field Developments, which is currently making a hostile takeover bid for the copper miner, has submitted an application to the Takeovers Panel requesting the company disclose details regarding its Wetar project and revise the independent expert report. Login below or For first time subscribers, our monthly payment starts at $1 + GST for the first month.
Finders takeover offer unconditional
Finders Resources’ major shareholder Eastern Field Development has changed its hostile takeover bid of the copper miner to unconditional, with the Indonesian consortium continuing to raise concerns about the company’s Wetar project. To read more, please Login or Register below
Finders stands firm
The board of Finders Resources remains firm on its rejection of a hostile takeover bid from Indonesian group Eastern Field Developments, after the major shareholder questioned the company’s supplementary target’s statement. To read more, please Login or Register below
Eastern extends Finders offer period
Indonesian group Eastern Field Developments has extended the offer period for its hostile 23-cents-a-share bid for Finders Resources, while also raising a number of concerns with the copper miner’s supplementary target statement. Finders rejected the offer from Eastern in December after an independent expert report from Deloitte valued the company’s shares between 31 and 35 cents. To read more, please Login or Register below
Panel rejects Tap application
The Takeovers Panel has rejected an application by Tap Oil claiming its two biggest shareholders had become associated, with the panel refusing to make a declaration of unacceptable circumstances. Last month the oil and gas explorer requested the disclosure of details surrounding major shareholders Risco Energy Investments and Chatchai Yenbamroong, and for the pair to be restrained from voting at the company’s annual meeting.
Perth investors reject Finders takeover
Finders Resources has received the backing of some high profile Perth investors in its bid to reject a takeover offer, with Euroz’s Tim Lyons, billionaire Ralph Sarich and Brettney Fogarty among a list of shareholders that have indicated they will not accept the 23-cents-a-share bid. The copper miner rejected the offer from Indonesian group Eastern Field Developments last week after independent expert Deloitte valued the company’s shares between 31 and 35 cents.
Finders major shareholder to reject offer
Finders Resources’ largest shareholder, outside of Eastern Field Developments which is proposing a 23-cents-a-share bid for the company, will not accept the current offer and the copper miner said the bidding consortium has less than one per cent acceptance so far. Earlier this week Finders urged its shareholders to reject a takeover bid from the Indonesian group after independent expert Deloitte valued the copper miner between 31 and 35 cents.
Finders shares flat on Deloitte valuation
Finders Resources has urged its shareholders to reject a takeover bid from Indonesian group Eastern Field Developments after independent expert Deloitte valued the company well above the 23 cents offer price, however Finders’ share price has continued to hover near that mark today following the announcement.
Tap takes major shareholders to panel
Tap Oil has submitted an application to the Takeovers Panel requesting the disclosure of details surrounding major shareholders Risco Energy Investments and Chatchai Yenbamroong and for the pair to be restrained from voting at the company’s annual meeting. The panel said today it had received the application, which also asks for shares in the major shareholders to be vested in the Australian Securities and Investment Commission.
Risco plans board overhaul at Tap Oil
Tap Oil major shareholder Risco Energy Investments has notified the oil and gas explorer of its intention to overhaul the company's board at the next planned annual meeting in February. Singapore-based Risco plans to move a series of resolutions at the meeting, namely the removal of executive chairman James Menzies, non-executive director Peter Mansell and Risco’s existing nominee on the board Tom Soulsby.
Finders disputes takeover claims
The independent directors of Finders Resources have questioned some of the claims and assumptions used by Indonesian group Eastern Field Developments, which has announced a takeover offer for the West Perth company. The independent directors have reiterated their advice that shareholders should take no action for now, but their preliminary view was critical of the bidder.
Finders shareholders to make $177m takeover play
An Indonesian consortium has announced its intention to make an off-market takeover bid for copper miner Finders Resources, with the all-cash deal valuing the target at about $177 million. Shareholders in Perth-based Finders, which owns majority stakes in the Wetar copper operation and the Ojolali gold-silver project (both of which are in Indonesia) would receive 23 cents in cash for every share they own in the business under the offer proposed by Eastern Field Developments.
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