The Takeovers Panel has backed a Sydney fund manager’s complaint about Tribune Resources, finding that shareholders have been kept in the dark about the gold miner’s controlling shareholders (reports The West Australian).
Investors in resources stocks are taking a pessimistic view of trade tensions and are looking for reasons to worry about an ageing cycle, according to one of Australia's top resources fund managers (reports The Australian Financial Review).
After a 33-month upswing in fortunes for the mining and energy sectors, Colonial First State Global Asset Management's head of global resources Todd Warren said the market had become hyper-focused on the potential for trade sanctions between the US and China to derail the sector's return to health.
The approach by Ramelius Resources this week to buy smaller explorer Explaurum marks the first hostile takeover bid among Australian gold miners for many years, and some now wonder whether it will kick off what would be a highly anticipated round of consolidation in the industry (reports The Australian).
Aspiring Pilbara miner Venturex Resources (ASX: VXR) has received the financial backing of its major shareholder Northern Star Resources to complete a definitive feasibility study on its flagship Sulphur Springs copper-zinc project (writes The West Australian).