Latest Base Metals News

The NSW Supreme Court has approved Aeris Resources' takeover of Peel Mining, setting in motion key dates for shareholder entitlements and trading suspension.

Peel Mining has issued proxy presentations and Chairman’s scripts for key shareholder meetings on the demerger of Spectre Metals and the proposed acquisition by Aeris Resources.

Anax Metals has raised $6 million through a placement of 176 million shares at 3.4 cents each, expanding its capital base without shareholder approval by utilising existing ASX placement capacity.

GR Engineering Services has been named preferred contractor for the A$295 million Sulphur Springs Copper-Silver-Zinc Project in Western Australia, marking a significant addition to its growing EPC portfolio.

Hammer Metals (ASX:HMX) has voluntarily suspended trading of its shares pending an announcement about a potential material corporate transaction that could change control of the company.

Orion Minerals has completed the conversion of a ZAR344.5 million loan from South Africa’s IDC into equity, giving IDC a 23.8% stake in the Prieska Project subsidiary and removing secured lending constraints.

Anax Metals has closed the second tranche of its placement, raising $4.8 million through a share issue that included $1.1 million from directors and granted options to its lead manager.

Orion Minerals has secured $15.4 million in a placement to accelerate development at its Prieska and Okiep copper projects in South Africa, paving the way for its transition to a copper producer.

Variscan Mines (ASX:VAR) has secured $690,000 in the first tranche of a $5 million placement, issuing 174 million shares at $0.004 each to new sophisticated investors. The capital raise supports ongoing development at the Novales-Udias zinc-lead project in Spain, which recently reported a JORC resource.

Peel Mining has formally moved forward in its acquisition by Aeris Resources with the dispatch of the Scheme Booklet to shareholders, setting the stage for critical meetings on June 15.

American West Metals has published a detailed JORC 2012-compliant Mineral Resource Estimate for its West Desert Zinc-Copper-Indium-Magnetite Project in Utah, affirming solid resource continuity and robust sampling techniques.

Sunshine Metals is set to transform its gold production profile with the $18 million acquisition of the Mt Moss processing facility and a $22 million capital raise to fund expansion and exploration.