Latest news with #MarkClark
Yahoo
5 days ago
- Business
- Yahoo
Capricorn Metals to acquire Warriedar Resources in Australia
Capricorn Metals and Warriedar Resources have announced a binding scheme implementation deed under which Capricorn will acquire 100% of the securities in Warriedar by way of a Court-approved scheme of arrangement. This acquisition is structured to provide Warriedar shareholders with a fixed exchange ratio of one new Capricorn share for every 62 Warriedar shares. Upon the implementation of the scheme, Warriedar shareholders will own approximately 4.36% of all issued shares in Capricorn. Based on Capricorn's closing price of A$9.60 ($6.32) per share on 23 July 2025, the transaction suggests a value of approximately A$0.155 per Warriedar share, which represents a 29% premium over Warriedar's closing share price of A$0.12 on 23 July 2025. The scheme is contingent upon several conditions including an independent expert's conclusion that it is in the best interests of Warriedar shareholders. Additionally, customary conditions such as regulatory approvals and the absence of material adverse changes must be satisfied. Capricorn gains ownership of Warriedar's flagship Golden Range project through the acquisition. The project encompasses the Ricciardo gold-antimony deposit and the Fields Find gold project, all situated 90km north of Capricorn's promising Mt Gibson gold project. Capricorn executive chairman Mark Clark said: 'This is a compelling transaction for all stakeholders, and we believe that combining Capricorn and Warriedar represents a unique opportunity to generate value for shareholders of both companies. 'This acquisition is on-strategy and continues the expansion of Capricorn's Mt Gibson exploration and development footprint and adds resource ounces, highly prospective exploration targets and valuable infrastructure, which will further enhance what is clearly one of the best development projects in the Australian gold industry.' In addition to the share acquisition, the parties have agreed on a separate scheme of arrangement for the outstanding Warriedar listed options. Under this option scheme, Warriedar listed options will be exchanged for new Capricorn options at the same exchange ratio as the share scheme. The existing A$0.10 exercise price per listed option will be adjusted to A$6.20, maintaining the same expiry date of 11 April 2028. The option scheme is conditional upon the approval of the scheme for Warriedar shares by the requisite majority. The Warriedar Board has unanimously recommended that listed optionholders vote in favour of the option scheme, provided no superior proposal emerges and an independent expert concludes that it is in the best interests of the option-holders. Additionally, Warriedar performance rights must be cancelled or vested as a condition of the scheme, with the resulting Warriedar shares subject to the scheme. Capricorn also intends to enter into private treaty arrangements with holders of unlisted options in Warriedar. Warriedar non-executive chairman Mark Connelly said: 'In addition to delivering an attractive premium, this transaction allows Warriedar shareholders to retain ongoing but significantly de-risked, exposure to the exploration and development of the Golden Range project, more diversified enterprise with a strong balance sheet, cash flow generation and technical expertise, all of which will support the successful exploration and development of the Ricciardo gold-antimony deposit.' Longreach Capital is serving as financial adviser for Capricorn, while Corrs Chambers Westgarth is the legal adviser for the scheme. Warriedar has engaged Discovery Capital Partners as its financial adviser and Thomson Geer as its legal adviser. In May, Sabre Resources completed the sale of its Ninghan gold project tenements in the southern Murchison region of Western Australia to Capricorn Metals for A$1.6m. "Capricorn Metals to acquire Warriedar Resources in Australia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
West Australian
5 days ago
- Business
- West Australian
Capricorn Metals lobs a $188m bid for gold explorer Warriedar Resources
Mark Clark's Capricorn Metals has used its share price muscle to make a $188m move for an explorer with a large landholding in a gold and copper hotspot. The all-scrip bid for Warriedar Resources — a 29 per cent premium to the junior's Wednesday closing price — revolves around the Golden Range gold project located about 90km north of Capricorn's Mt Gibson gold development in the Murchison region. Golden Range has a 788 square kilometre tenement package and is surrounded by three gold mines run by Vault Minerals and Ramelius Resources, as well as 29Metals' Golden Grove copper mine. 'This acquisition is on-strategy and continues the expansion of Capricorn's Mt Gibson exploration and development footprint and adds resource ounces, highly prospective exploration targets and valuable infrastructure which will further enhance what is clearly one of the best development projects in the Australian gold industry,' Capricorn executive chairman Mark Clark said. Warriedar's board has backed the offer. Capricorn's shares last traded at $9.27 after hitting a record of $10.80 last month. Despite the decline, its stock value is still 70 per cent higher than 12 months prior. The West Perth company runs the Karlawinda gold mine in addition to developing Mt Gibson. In May, Capricorn's then-chief executive Paul Criddle resigned from the role despite aggravated assault charges against him being thrown out.
Yahoo
15-07-2025
- Politics
- Yahoo
City of Ocala election back on after all candidates fail to initially qualify
Ocala city officials have set a new qualifying date for the city's election this fall after all candidates initially failed to qualify due to issues with their qualifying fee payments. At their regularly scheduled City Council meeting on July 15, officials unanimously voted to have the qualifying period run from 8 a.m. July 16, to noon July 18. Between now and the deadline, candidates can file their paperwork. Not everyone in attendance, however, agreed with the decision. Mark Clark, who is running for the Ocala City Council District 3 seat currently held by Jay Musleh, told council members during public comment that most of the council members — Jim Hilty, Barry Mansfield and Musleh — should recuse themselves from the process because they all have something to gain. Both Mansfield, the District 1 representative, and Hilty, who represents District 5, were running unopposed following the initial July 11 qualifying deadline. Musleh, however, who initially planned to vacate his seat, has since decided to run for re-election in District 3 following the qualifying issues. Local news: One of three brothers killed in three-vehicle crash in Marion Oaks Musleh told a Star-Banner reporter on July 14 that he viewed the qualifying issues as a sign that he should enter the race. City Attorney William Sexton told the council members they were OK to vote on the issue since they will not lose or gain anything with their participation. Though TamBoura Jenkins, another District 3 candidate, was in the audience, he elected not to speak. Also present was Marion County Supervisor of Elections Wesley Wilcox. Outside council chambers, Clark told a Star-Banner reporter he has filed his documents and opened his campaign account. "I'm ready to go. I'm still going to run. I've committed donors and I love this community," he said. When asked by a Star-Banner reporter if he agreed with Clark's opinion that some of the council members should have recused themselves from the vote, Jenkins said "no." "We're all in the same boat. Let's get it done," he said. The seven candidates who submitted their names and documents for the upcoming city of Ocala election in September by the initial July 11 deadline, all failed to comply with the "requirements of Florida law as it pertains to the payment of their qualifying fee." Specifically, city officials said candidates had "to pay the qualifying fee using a properly, executed check drawn from their campaign account." The check also must include the "campaign account name, account number and bank name, exact amount, treasurer's signature, purpose of the expenditure, and the payee's name." "None of the seven candidates met all of these criteria," officials said. The candidates included mayoral hopefuls incumbent Ben Marciano and challengers Zackary Feliciano and Neil J. Gillespie, Clark and Jenkins for the District 3 seat, and incumbents Mansfield in District 1 and Hilty in District 5. The election will still be held on Sept. 16, with early voting set for Sept. 11-13. According to the Supervisor of Elections Office website, as of July 1, there were 33,260 registered voters in the city of Ocala. Contact Austin L. Miller at This article originally appeared on Ocala Star-Banner: City of Ocala 2025 election back on with qualifying set for July 16-18
AU Financial Review
15-05-2025
- Business
- AU Financial Review
Capricorn Metals boss quits after aggravated assault charge dropped
The chief executive of gold miner Capricorn Metals has quit despite a West Australian court's decision to dismiss a charge of aggravated assault against him. The ASX-listed miner said on Thursday that Paul Criddle would leave Capricorn immediately 'to allow him some time to focus on personal priorities'. Executive chairman Mark Clark will assume CEO responsibilities.
