Gold miner Adaman set to add glitter to Palace

A private mining company says it is hoping to restore a Southern Cross pub to its former glory after taking control of the 107-year-old Palace Hotel.

Adaman Resources, a privately-owned gold miner backed by mining services players SMS, Rivet and Mitchell Group Holdings, has taken control of the historic pub in recent weeks to house workers at its Corinthia gold mine, 15km north-west of the Yilgarn town.

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Lithium Australia close the loop with acquisition

Lithium Australia’s highly strategic acquisition of the Brisbane-based Very Small Particle Company or “VSPC” is now only subject to shareholder approval after the successful completion of due diligence.

In a release to the ASX this week, Lithium Australia reported they had been through VSPC with a fine-tooth comb and made the decision to proceed with the takeover.

VSPC have developed a patented process for nano-scale manufacturing of a wide range of cathode materials for Lithium-ion batteries.  This high quality material is regarded as a next-generation cathode material

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Kirkalocka Gold Mine sold by Minjar Gold for $12 million to Adaman Resources

A high-powered syndicate of Australian mining services players is plotting to revive the Kirkalocka gold mine near Mt Magnet in the Mid West after securing the asset from China’s Minjar Gold in a $12 million deal.

Mark Rowsthorn-led haulage provider Rivet, Danny Sweeney’s mining contractor SMS Innovative Mining Solutions and Nathan Mitchell’s Mitchell Group Holdings each own a third of Adaman Resources, which has put a $35 million to $40 million price tag on returning Kirkalocka to production for the first time since 2008.

The new private equity play is fronted by former Saracen Mineral Holdings chief operating officer and now Adaman chief executive Craig Bradshaw, who said the company scoured 30 to 40 projects before settling on the all-cash purchase of the Mid West gold mine.

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Mitchell Services buys underground coal drilling firm Radco

ASX-listed Mitchell Services has entered into an agreement to acquire 100% of the shares in Radco Technologies and Radco Group(collectively Radco Drilling), for A$5.3-million in cash.

Privately-owned Radco Drilling, based in Queensland and New South Wales, is a specialist in underground coal drilling and gas drainage services. With a fleet of 11 underground drill rigs, the company operates in the underground coal drilling industry and currently services Tier 1 global coal mining clients under long-term contracts.

Mitchell Services said that the acquisition would diversify its revenue though the niche market of underground coal drilling and gas drainage. The company explained that the highly regulated nature of this type of drilling created a barrier to entry for new competitors, which could be further leveraged given the combined entity's ability to offer packaged services (both surface and underground coal drilling).

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Inmarsat and Auxilium to deliver satellite IIoT mining solutions

Inmarsat and Auxilium, a leading Australian mining technology solutions company, have established a formal partnership to deliver the most effective Industrial Internet of Things (IIoT) and communications solutions for Australian mining companies.

The partnership will see Auxilium deploying satellite connectivity from Inmarsat in its IIoT solutions. This will ensure that mining companies can access IIoT and communications services regardless of how remote their location is, and without the need to invest significant sums in building a terrestrial communications infrastructure in order to connect their mining operations.

Auxilium designs and manufactures technically advanced mining equipment, technology and services to support high-value mining and construction assets.  It deploys satellite connectivity to enable the seamless transition of data from mine site to the control centre, which can be thousands of kilometres apart.

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MSV announces Aquisition of Nitro Drilling's assets and a fully underwritten Entitlement Offer

On 9th June 2015 Mitchell Services (ASX:MSV) announced it had entered into an agreement to aquire the assets of Nitro Drilling (in receivership) for $16.1m. The acquisition is to be funded by way of an $8.5m debt facility provided by major shareholders, Mitchell Group and Washington H. Soul Pattison & Company; and a $8.67m equity raise by way of a fully underwritten Entitlement Offer.

The assets have a Replacement Valuation of A$84m - Including 25 drill rigs, 3 grouting units, 30+ Mercedes Benz trucks, 30+ trailers, 30+ Mercedes Benz Sprinters, 20+ light Vehichles and various forklifts, compressors and inventory.

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