FINWIRES · TerminalLIVE
FINWIRES

Frontier Energy Secures AU$110 Million Through Conditional Placement; Shares Fall 10%

By

Frontier Energy (ASX:FHE) secured firm commitments for a AU$110 million capital raising via a conditional placement of 550 million shares at AU$0.20 each, contingent on shareholder approval and credit-approved senior debt financing, according to a Thursday Australian bourse filing.

The senior debt process is advancing in parallel, with tier-one lenders offering indicative terms supporting up to around 70% of project costs, a tenor of up to 20 years, and pricing aligned with infrastructure market standards, per the filing.

The company is expected to obtain credit-approved commitments for the senior debt finance in July, the filing said.

Proceeds will fund stage one of a 132-megawatt solar farm and 81.5-megawatt battery storage system, including substation and transmission works, with fixed construction costs revised to about AU$327 million due to expanded scope, higher-capacity equipment, and inflation.

Proceeds from the conditional placement will also support early works for a stage two expansion, the filing added.

The company's shares fell around 10% in recent Thursday trade.

Related Articles

Asia

Update: DPM Metals Reports High-Grade Gold-Copper Porphyry Discovery in Bulgaria; Shares Up 3%

(Updates to add stock movement in the headline and last paragraph)DPM Metals (ASX:DPM) said it has made a high-grade gold-copper porphyry discovery at its Brevene South target in Bulgaria, adjacent to the Chelopech mine concession, according to a company statement released Wednesday after market hours.Initial drilling confirmed broad, continuous mineralization, including 713 meters at 2.5 grams per tonne gold equivalent and a higher-grade core of 398 meters at 3 grams per tonne gold equivalent.Additional drilling intersected 95 meters at 0.9 grams per tonne gold equivalent and 37 meters at 1.2 grams per tonne gold equivalent, with several holes still in progress.The discovery remains open for expansion, with the company deploying five drill rigs and planning up to 15,000 meters of additional drilling through the year.The company's shares rose 3% in recent Thursday trade.

$ASX:DPM
Asia

Macquarie Group Continues to Outperform Banking Majors with Superior, Fully Digitized Platform, Jarden Says

Macquarie Group (ASX:MQG) continues to outperform banking majors with a simple and fully digitized platform, according to Jarden in a Thursday note.At this pace, Macquarie may surpass around 10% market share on both sides of the balance sheet in the near term. Commonwealth Bank of Australia's (ASX:CBA) net interest margin edge, free deposits look tenuous with IT and competition from Macquarie, ANZ Group Holdings (ASX:ANZ, NZE: ANZ), National Australia Bank (ASX:NAB), and potentially, stablecoins. Strong volumes are offset by competition.Jarden considered the fiscal year 2026 Australian budget as changing incentives, increasing complexity, and exacerbating the skew to financialization over increasing physical industrial capacity.High valuations reflect market index concentration and disappointment in other sectors, but expose major banks to abrupt and extreme mean reversion if the status quo changes.The investment firm assigned ANZ Group an overweight rating and price target of AU$35.50 per share. It also has sell ratings on Commonwealth Bank, National Australia Bank, and Westpac Banking (ASX:WBC, NZE:WBC) with price targets of AU$90 per share, AU$29 per share, and AU$31 per share, respectively.It also assigned Macquarie a buy rating with a price target of AU$250 per share, Bendigo and Adelaide Bank (ASX:BEN) a neutral rating with a AU$11 per share price target, Bank of Queensland (ASX:BOQ) a sell rating with a price target of AU$5.50 per share, and Judo Capital Holdings (ASX:JDO) a buy rating with a price target of AU$2.50 per share.

$ASX:ANZ$ASX:BEN$ASX:BOQ$ASX:CBA$ASX:JDO$ASX:MQG$ASX:NAB$ASX:WBC$NZE:ANZ$NZE:WBC
Asia

Korea Advanced Materials to Wholly Acquire Live Connection in KRW3.40 Billion Deal; Shares Rise 3%

Korea Advanced Materials (KOSDAQ:062970) plans to wholly acquire Live Connection by purchasing shares worth 3.40 billion won in the firm, according to a Thursday filing with the Korea Exchange.The company will acquire a total of 640,000 shares of Live Connection on June 11.The advanced materials manufacturer plans to boost its sales volume and pursue new businesses through the acquisition, according to the filing.Shares of Korea Advanced Materials added nearly 3% in recent trade.

$KOSDAQ:062970