Resolute extraction (ASX:RSG) made a second $50 million settlement payment to the Malian government, which is part of a $160 million deal to resolve the disputes. This follows the release of the company’s CEO and two executives, who were arrested in early November but released on November 21. Despite these issues, the company says operations at the Syama gold mine remain unaffected. The stock is up 2.47% over the past five days.
AVJennings shares (ASX:AVJ) rose 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 November 27. AVJennings’ board of directors has signed an exclusivity agreement with AVID and intends to recommend the offering if the conditions are met. The stock has risen 72.22% over the past five days.
In other acquisition news, SG Fleet’s (ASX:SGF) shares rose Monday after the company received a $3.50 per share offer from Pacific Equity Partners. The SG Fleet board of directors has granted exclusivity to PEP until November 29, 2024 to conduct due diligence and negotiate a program implementation deed for the potential transaction. The shares have remained unchanged for the past five days.
Novonix (ASX:NVX) has recently released a series of significant announcements. First, it reached a supply deal with global automotive group Stellantis in mid-November. Then, earlier this week, the company signed a deal with Volkswagen’s PowerCo, before completing an institutional placement for about $44.4 million later in the week. Shares are down 13.75% this week.
The ASX on Wednesday (ASX:ASX) announced a $445 million plan to replace its aging CHESS system by 2029. This follows the abandonment of an earlier plan in November 2022 with a $250 million write-off. Investors are concerned about the costs and long lead times which have led to a decline in the share price, which fell 2.9% this week.