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Cision Canada
30-05-2025
- Business
- Cision Canada
Bastion Mining Pte. Ltd. Acquires Ordinary Shares of Xanadu Mines Limited
SINGAPORE, May 29, 2025 /CNW/ - This news release is issued by Bastion Mining Pte. Ltd. (" Bastion") pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to ordinary shares of Xanadu Mines Limited (the " Issuer"). Bastion announces that it has completed an arm's length private placement financing with the Issuer for A$17.2 million (the " Financing"). Pursuant to the Financing, Bastion was issued 286,829,633 ordinary shares of the Issuer (each, an " Ordinary Share") at an issuance price of A$0.06 per Ordinary Share. The Financing was completed in connection with an off-market bid publicly announced by Bastion on May 19, 2025 under Chapter 6 of the Corporations Act 2001 (Cth) (Australia) to acquire all of the Ordinary Shares in Xanadu (the " Offer") for the purposes of assisting the Issuer with meeting its corporate and joint venture funding obligations during the Offer period. Subject to the terms of the Offer, Xanadu shareholders will receive A$0.08 cash for each Ordinary Share in Xanadu held by Xanadu shareholders as at 7:00 p.m. (Australian Eastern Standard Time) on May 26, 2025. The Offer opened on May 28, 2025 and is scheduled to close at 7:00 p.m. (Australian Eastern Standard Time) on July 1, 2025 unless extended or withdrawn. Immediately prior to the Financing, Bastion had beneficial ownership and control over nil Ordinary Shares of the Issuer. Upon completion of the Financing, Bastion acquired beneficial ownership and control over 286,829,633 Ordinary Shares representing approximately 12.52% of the issued and outstanding Ordinary Shares of the Issuer on completion (on a non-diluted basis). Bastion acquired the Ordinary Shares for investment purposes. Bastion is controlled by Boroo Pte Ltd. (" Boroo") who holds 75% of Bastion's issued ordinary share capital. Boroo is a private Singapore-incorporated entity which invests in major gold projects internationally. The remaining non-controlling 25% of Bastion's issued ordinary share capital is held by the Issuer's director Ganbayar Lkhagvasuren. For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial and territorial securities legislation in connection with the Financing, please go to the Issuer's profile on the SEDAR+ website ( or contact Phillip Tan at [email protected]. Bastion has its registered office at 9 Straits View, #05-09, Marina One West Tower, Singapore, 018937.
Yahoo
30-05-2025
- Business
- Yahoo
Bastion Mining Pte. Ltd. Acquires Ordinary Shares of Xanadu Mines Limited
SINGAPORE, May 29, 2025 /CNW/ - This news release is issued by Bastion Mining Pte. Ltd. ("Bastion") pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to ordinary shares of Xanadu Mines Limited (the "Issuer"). Bastion announces that it has completed an arm's length private placement financing with the Issuer for A$17.2 million (the "Financing"). Pursuant to the Financing, Bastion was issued 286,829,633 ordinary shares of the Issuer (each, an "Ordinary Share") at an issuance price of A$0.06 per Ordinary Share. The Financing was completed in connection with an off-market bid publicly announced by Bastion on May 19, 2025 under Chapter 6 of the Corporations Act 2001 (Cth) (Australia) to acquire all of the Ordinary Shares in Xanadu (the "Offer") for the purposes of assisting the Issuer with meeting its corporate and joint venture funding obligations during the Offer period. Subject to the terms of the Offer, Xanadu shareholders will receive A$0.08 cash for each Ordinary Share in Xanadu held by Xanadu shareholders as at 7:00 p.m. (Australian Eastern Standard Time) on May 26, 2025. The Offer opened on May 28, 2025 and is scheduled to close at 7:00 p.m. (Australian Eastern Standard Time) on July 1, 2025 unless extended or withdrawn. Immediately prior to the Financing, Bastion had beneficial ownership and control over nil Ordinary Shares of the Issuer. Upon completion of the Financing, Bastion acquired beneficial ownership and control over 286,829,633 Ordinary Shares representing approximately 12.52% of the issued and outstanding Ordinary Shares of the Issuer on completion (on a non-diluted basis). Bastion acquired the Ordinary Shares for investment purposes. Bastion is controlled by Boroo Pte Ltd. ("Boroo") who holds 75% of Bastion's issued ordinary share capital. Boroo is a private Singapore-incorporated entity which invests in major gold projects internationally. The remaining non-controlling 25% of Bastion's issued ordinary share capital is held by the Issuer's director Ganbayar Lkhagvasuren. For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial and territorial securities legislation in connection with the Financing, please go to the Issuer's profile on the SEDAR+ website ( or contact Phillip Tan at Bastion has its registered office at 9 Straits View, #05-09, Marina One West Tower, Singapore, 018937. SOURCE Bastion Mining Pte. Ltd. View original content: Sign in to access your portfolio
Sky News AU
18-05-2025
- Politics
- Sky News AU
Prime Minister Anthony Albanese and Ambassador to the Holy See Keith Pitt invite Pope Leo XIV to visit Australia in 2028
Prime Minister Anthony Albanese and Australia's Ambassador to the Holy See, Keith Pitt, have begun lobbying for Pope Leo XIV to visit Australia in 2028. Mr Pitt, a former cabinet minister, told Sky News Sunday Agenda he has been making the case for the Pope to attend the International Eucharistic Congress 2028 in Sydney. The 2028 International Eucharistic Congress is expected to be one of the largest Catholic gatherings in Australia in recent history. If the invitation is accepted, the trip would mark the first papal visit to Australia in more than a decade. Mr Albanese and Mr Pitt will attend Pope Leo's inaugural Mass at St Peter's Basilica, where tens of thousands of people are expected to gather. The mass is expected to start at 10am local time—6pm Australian Eastern Standard Time on Sunday. 'One of my jobs will be to be out there and lobbying hard to try and get the Pope to come to Australia in 2028 for the Eucharist Congress,' Mr Pitt said. 'There'll be a lot of people there. It's an incredible opportunity. It's been a long time since a Pope has been in Australia. 'In fact that the PM will meet him today in the line up on the way out of the inauguration is our understanding. 'All of the world leaders will have that brief opportunity on the way through and I'm sure he will extend the invitation again.' Pope Leo XIV—formerly Cardinal Robert Prevost—was elected on 8 May following the death of Pope Francis on 21 April, becoming the first American to ascend to the papacy. While born in Chicago, the new Pope spent many years in Peru and has travelled extensively, including multiple visits to Australia. Mr Pitt described the new Pope as 'a very charismatic individual' and said he was similar to many Australians. 'I'm told he's been to Australia a number of times. To me, he's like many Australians,' Mr Pitt said. 'I was reminded again this morning by an archbishop that (Pope Leo) apparently loves Tim Tams.' Mr Albanese and Mr Pitt are among a host of world leaders attending the inaugural mass, including political leaders and royal families from across Europe.
Times
03-05-2025
- Politics
- Times
Australian election results 2025: Albanese wins as Peter Dutton concedes
Anthony Albanese has become the first Australian prime minister in 20 years to win back-to-back elections, after a stunning reversal in his political fortunes and a little help from President Trump. The national broadcaster the ABC called the election result at 8.26pm (Australian Eastern Standard Time), less than two-and-a-half hours after polls closed on the eastern seaboard. It is not yet known whether the ruling Labor party, which holds 77 seats, will win the 76 required to hang on to its majority. However, based on a swing towards the party in early counting, the government looks set to increase its majority. It means Albanese becomes the first prime minister since the Liberal leader John Howard in 2004 to be re-elected. The last Labor leader to achieve this feat was Bob Hawke in 1990. Albanese's opponent, Peter Dutton, lost his seat of Dickson, in suburban Brisbane, which he had held since 2001. He is the first federal opposition leader in Australian history to lose their seat, leaving the Coalition leaderless. Flanked by his wife and two grown-up sons, Dutton arrived at about 9.30pm local time at the Liberal Party's headquarters in Brisbane to concede defeat and bring down the curtain on his long political career. In a gracious speech he said: 'Earlier on I called the prime minister to congratulate him on his success tonight. It's an historic occasion for the Labor party. 'I said to the prime minister that his mum would be incredibly proud of his achievement tonight, and he should be very proud of his achievement tonight.' Albanese grew up on a Sydney council estate as an only child with his single mother Maryanne Ellery, who was crippled with arthritis and survived on a disability pension. She died after a brain aneurism in 2002. Jim Chalmers, the Labor treasurer, described the overall result as a 'win for the ages'. 'He [Albanese] has pulled off one of the great election victories since Federation,' he told the ABC. The coalition is projected to win its lowest share of the primary vote ever recorded, at 31 per cent, compared with 35.3 per cent for Labour. Australia operates a complicated preferential voting system in which voters have to rank all the candidates in order of preference. Even the chance to form a minority government for Albanese's party looked unlikely at the turn of the year but the opposition campaign led by Peter Dutton, a former policeman from Queensland, has been widely hailed as among the worst in living memory. Unpopular policy pledges were ditched and unflattering comparisons were drawn between Dutton, 54, and President Trump. In contrast, apart from falling off a stage during a campaign event in New South Wales, Albanese has rarely put a foot wrong since calling the election on March 28. Andrew Hughes, a political and marketing specialist at the Australian National University, said: 'Dutton absolutely blew this election. He was all over Labor at the end of the summer in February. But we've seen the worst Coalition campaign this decade, and probably one of the worst this century. They've been all over the shop.' In January the Coalition, comprised of the Liberals and the right-wing National party, held a commanding lead in the polls and looked on course for a historic election victory. But the understated Albanese proved unexpectedly resilient. First he managed to hold his party together and avoid the internal mid-term coups that have toppled several of his recent predecessors. Then he began to turn the polls around. For a year and a half his popularity had languished after a referendum to enshrine an aboriginal parliamentary advisory group in the constitution. The proposal was emphatically defeated in October 2023 after a 'No' campaign led by Dutton. The prime minister's key election promise from 2022 to cut $275 off energy bills had been broken, as soaring energy bills and rising mortgage repayments conspired to ensure Australians endured the biggest fall in living standards in the developed world under the Labor government's watch. This played into the Coalition's hands in an election campaign dominated by the rising cost of living. But then, as in Canada, the shadow of a new American president tilted the direction of Australia 's politics. • Trump effect upended Canada's election race Dutton sought to emulate Trump's winning approach from the November 2024 campaign. He sang his praises and emphasised 'anti-woke' policy pledges, such as removing the Aboriginal and Torres Islander flags from prime ministerial press conferences, opposing the ubiquitous Aboriginal 'Welcome to Country' ceremonies at public events and school assemblies, and overhauling Australia's school curriculum amid fears that students were being 'indoctrinated' by left-wing teachers. A special government efficiency department would also be set up, under the supervision of Jacinta Nampijinpa Price, the Coalition senator, tasked with cutting bloated departments down to size and sacking 41,000 public sector workers in Canberra. To many, it sounded remarkably similar to Elon Musk's Department of Government Efficiency, or Doge. But allegiance with Trump became more problematic when he raised tariffs, sending global stock markets into meltdown in the first week of Australia's election campaign. Dutton rushed to distance himself and the Coalition from Trump, notably dumping an unpopular plan to force public service employees in Canberra not to work from home, which carried echoes of Musk's approach in the United States. Polls revealed how deeply unpopular Trump was among Australian voters. 'Dutton massively misread the public mood. Trump brings conflict and drama into situations where it doesn't need to be. This is at odds with Australia's culture which is laid back,' Hughes said. Dutton repeatedly accused the prime minister in the televised leaders' debates of being a 'liar', citing his broken election promise to cut energy bills by $275, and for claiming the Coalition's plans to build and operate seven nuclear reactors would cost $600 billion. Although Albanese usually refused to get drawn into a slanging match, his campaign machine did the dirty work for him, launching frequent personal attacks on the opposition leader on social media. One TikTok video asked followers to 'rank your favourite baldie', and compared Dutton to a zombie who rides a chicken. Commentators across the political spectrum accused both sides of lacking bold, imaginative policies. Tackling climate change, a key theme in Labor's winning election campaign in 2022, was rarely mentioned. The government rushed through a small tax cut, costing $17 billion, but worth just $5 a week on average for taxpayers from next year. Dutton toured petrol forecourts to trumpet a flagship $6 billion election pledge to halve fuel tax for a year, saving drivers around $14 a tank. 'The government's offers to help households with the cost of living were better supported than the Coalition's' Paul Smith, of YouGov, said. The upshot is that Albanese, after ousting the unpopular Scott Morrison in 2019, is favoured to become the first Labor leader to be re-elected in 35 years. 'He's come up against Scott Morrsion and then Peter Dutton. In political careers, you can't get luckier than that,' Hughes said.
BBC News
02-05-2025
- Politics
- BBC News
Australia: A guide to election day
After weeks of campaigning, Australia's 2025 federal election is here - and its looking to be a tight race between the incumbent Anthony Albanese and opposition leader Peter you're planning on staying up late to watch the results roll in tonight, here's a quick look at what you need to know. Who are the main players? The two main candidates for the prime minister's seat are the current premier Anthony Albanese and his opposition rival Peter who heads the Labor party, enjoyed a period of broad popularity after coming to power but in recent years has come under pressure over his handling of divisive topics like housing, Indigenous affairs and both antisemitism and who is head of the Liberal-National coalition, is known as a staunch conservative and has experience holding important ministerial portfolios, like defence and home affairs. However, he has been a controversial figure at times, particularly on social are also the left-leaning Greens, Australia's third largest political party, as well as a wave of "Teal candidates" - independent candidates who have been running on a strong climate platform. When do polls close? Wherever you are in Australia, polls close at 18:00 - but the country's three different time zones means there isn't one standard time where all polls eastern states of Australia - New South Wales, Victoria and Queensland which follow Australian Eastern Standard Time - will be among the first places to close at 18:00 AET, or 08:00 will come South Australia, as well as the Northern Territory and the Australian Capital Territory, followed by the state of Western last polling booths- in the far flung Australian territory of the Cocos (Keeling) Islands - will close by 20:00 AET, or 10:00 GMT. What about exit polls? Unlike most countries including the US and UK, exit polls aren't big in Australia, mostly because early voting - which opens two weeks before the election - is common, and because polling stations across the country close at different counting in each state begins straight after polls close. Results are updated in real time on the Australian Electoral Commission (AEC) website - in what is known as an unofficial preliminary count, with Australians typically getting an unofficial result the same AEC also provides what's known as an "indicative count", which media commentators, election experts and sometimes even the parties and candidates themselves then base their calls sees counting officers conduct what is called a two-candidate-preferred count between the two leading candidates in each electoral district. This gives citizens a quick indication of who could form the pollsters also have a good track record of picking political winners, with a 96% success rate between 2007 and 2016, according to a report by the Australian Broadcasting Corporation (ABC). The exception was in 2019, when polls showed Labor to be ahead - but the election was won by then Coalition prime minister Scott Morrison. When will we know who has won? It is usually days or weeks before an official result is released by the AEC as they have to go through a rigorous counting process, tallying approximately 18 million ballot papers by hand, including postal and overseas ballot citizens usually look to media outlets and election experts - like Australia's national broadcaster ABC - to call the unofficial results on election the last election in 2022, the ABC announced the results at 9:30pm - just three and a half hours after polls closed on the east as the night goes on, parties also come out to declare their win - or loss - so it might play out in the form of a victory speech, or in one conceding is no one specific time when the results are called, but 2022 gives a sense of how quickly we might be able see a winner. However if it proves to be a tight race, this process could take quite a while the case of a hung parliament, it might take days or weeks before a result is called. In 2010, which is the last time Australia had a hung parliament, it took 17 days of post-election negotiations for a government to be formed - with both the Labor Party and the Coalition vying to win the support of six crossbenchers. In the end, Labor was able to form a minority depending on the scenario that plays out, Australians might have to hang on to their edge of their seats for a while longer before an official result emerges.
