Resolute Mining (ASX:RSG) has made a second settlement payment of US 50 million dollars to the Government of Mali, which is part of a 160 million dollar agreement to resolve disputes. This follows the release of the company's CEO and two executives, who were detained in early November but freed on 21 November. Despite these issues, the company says operations at the Syama Gold Mine remain unaffected. Shares are up 2.47% over the last five days.
Shares in AVJennings (ASX:AVJ) surged yesterday after the company received a proposal from AVID Property Group to acquire all outstanding shares for 67 cents per share. This represented a whopping 103% premium to the closing price on 27 November. AVJennings' Board has signed an exclusivity deed with AVID and intends to recommend the offer if conditions are met. Shares are up 72.22% over the past five days.
In more takeover news, SG Fleet's (ASX:SGF) shares surged on Monday after the company received a $3.50 per share offer from Pacific Equity Partners. The SG Fleet board granted PEP exclusivity until 29 November 2024 to conduct due diligence and negotiate a scheme implementation deed for the potential transaction. Shares are flat over the past five days.
Novonix (ASX:NVX) has released a number of significant announcements recently. Firstly, it reached a supply agreement with global automotive group Stellantis in mid November. Then, earlier this week, the company signed an agreement with Volkswagen's PowerCo, before completing an institutional placement for around $44.4 million later in the week. Shares are down 13.75% this week.
On Wednesday, the ASX (ASX:ASX) announced a $445 million dollar plan to replace its outdated CHESS system by 2029. This follows the abandonment of an earlier plan in November 2022 with a $250 million dollar write-off. Investors are concerned over costs and the protracted timeline which led to a drop in share price which are down 2.9% this week.
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Source: Finance News Network
