All in Finance

Eastern Field sets April 5 as end of $181m Finders takeover bid

Indonesian consortium Eastern Field Developments has set April 5 as the likely deadline for its long-running $181 million cash takeover of Finders Resources (ASX: FND), which has been held up by a lengthy legal process. Eastern Field's decision came after a judgment was handed down in the Federal Court on Friday rejecting a challenge to an earlier Takeovers Panel ruling. As a result of the judgment, Eastern Field will have an option to acquire Taurus Funds Management's 11.3%, cementing its stake of about 97% in the takeover target. Eastern Field is expected to follow up with the compulsory acquisition of remaining minority shareholders, also at the 23c a share bid price. Unless there is an appeal to the Federal Court judgment, Eastern Field will end its takeover offer on April 5.

Goldfields Money upbeat on October stats

Goldfields Money (ASX: GMY) says it (and Finsure) continued its run of strong performance during October, with increases across all key operating metrics including managed loans settlements, aggregation settlements and the recruitment of loan writers. The Company reported another particularly strong performance in the higher-margin Managed Loan Settlements division, as a result of the consolidation of four mortgage managers into the business over the past 2 years.

Goldfields Money partners with Ivy Koin

Goldfields Money (ASX: GMY) has struck a strategic partnership with Los Angeles-based Ivy Koin LLC; a developer of blockchain-based solutions for financial institutions. Those solutions work to validate and cater to compliance needs for fiat and digital currency business transactions. The two companies will work together to commercialise the use of blockchain technology in banking to validate and legitimise digital currency to fiat transactions in the traditional banking framework.

Doray, Silver Lake bounce back as market takes a closer look at gold merger

The gold sector focused on Doray Minerals and Silver Lake Resources this week after the two WA-based gold producers announced a nil-premium merger to create a $400 million mid-tier ASX-listed company with pro-forma production this year of 240,000 ounces of gold and gold equivalents. After some initial selling by investors, Doray and Silver Lake returned to the winner’s list on Friday to end the week on a high.

Goldfields Money highlights solid performance in August

Goldfields Money (ASX: GMY) has provided a trading update for August, which saw continued strong performance for both the company and merger ally Finsure with increases across all key operating metrics including managed loan settlements, aggregation settlements and recruitment of loan writers. These metrics drive both transactional and recurring revenue streams for the business.

FutureGold – today’s cryptocurrency to fund tomorrow’s gold mines

Perth corporate advisory firm PCF Capital is looking to raise as much as $US250 million through its FutureGold cryptocurrency, which is designed to bridge the gap between changing investor demands and the increasingly tough funding conditions for small and emerging gold stocks. FutureGold's Security Token Offering kicks off early next year. The tokens will be listed on a registered cryptoexchange and offer investors strong dividend returns.

Goldfields Money - Finsure Merger Will Create Digital Banking Game-Changer

Goldfields Money (ASX: GMY) says its merger with Finsure has created a digital banking game-changer, after the company's shareholders today voted in favour of the deal going ahead. Goldfields Money chief executive Simon Lyons said the combined entity would allow both companies to grow and improve profitability. "We will be creating Australia's first truly scalable digital challenger bank focused on providing lending solutions for Australian consumers via broker distribution," he said.

Goldfields Money - Successful $20million Capital Raise and Transaction Update

Goldfields Money (ASX: GMY) has received binding commitments from international and local institutional and professional investors to raise about $20 million by way of a placement. The raising was priced at $1.30 per share, with just under 15.4 million new shares issues. The proceeds will be used to fund prudential capital needs and enable the company to pursue further lending growth. Goldfields Money also revealed today the expected completion date for its merger with Finsure.