Latest Finance News

Fortescue Ltd has launched a recommended off-market takeover offer for Red Hawk Mining at $1.05 per share, with a potential increase to $1.20, representing a significant premium and a strategic pivot for Red Hawk shareholders.

Cokal Limited has formalised a US$7 million coal prepayment and offtake facility with Cratus Group, marking a pivotal step in accelerating coal production and infrastructure development in Central Kalimantan, Indonesia.

West Wits Mining has increased its Mineral Resource Estimate by 749,000 ounces following a new Prospecting Right grant and appointed Rudi Deysel as CEO while advancing project financing for the Qala Shallows Gold Project.

FMG Pilbara Pty Ltd, a Fortescue subsidiary, has initiated an off-market takeover offer for Red Hawk Mining, proposing $1.05 per share with a potential increase to $1.20 contingent on acquiring a 75% stake. The Red Hawk Board unanimously endorses the bid, highlighting a significant premium and strategic implications for shareholders.

Hawsons Iron Limited is progressing key process optimisation initiatives focused on dry crushing circuits and by-product extraction, while deepening government and investor engagement to enhance the Hawsons Iron Project’s value.

Metro Mining Limited delivered record bauxite shipments in Q4 2024, alongside a successful debt restructure and strong EBITDA margins, positioning the company for growth amid rising market prices.

Rox Resources has advanced its Youanmi Gold Project with a $27 million capital raise and a major drilling campaign, positioning the company for production by late 2025.

Canyon Resources has locked in a $124 million underwriting agreement with major shareholder Eagle Eye Asset Holdings to finance critical rolling stock for its Minim Martap bauxite project in Cameroon, marking a pivotal step towards production.

Fortescue Ltd has initiated an off-market takeover bid to acquire Red Hawk Mining, offering up to A$1.20 per share, representing a substantial premium. The move aims to consolidate Fortescue’s iron ore assets in Western Australia’s Pilbara region.

Empire Energy Group Limited reported a significant cash outflow of $14.2 million in the December 2024 quarter, driven by exploration and evaluation activities, yet maintains a strong liquidity position with nearly $54 million in available funding.

Empire Energy has successfully drilled its longest well to date, secured a $65 million financing package, and received environmental approval for its Carpentaria Pilot Project, setting the stage for first gas deliveries later in 2025.

Helios Energy has released an independent Contingent Resource Report confirming substantial recoverable oil, gas, and NGL volumes at its Presidio Project in West Texas, reinforcing its potential as a transformative asset.