Latest news with #Bastion
Daily Mail
3 days ago
- Business
- Daily Mail
Freshly uncovered documents reveal which AFL team was branded the league's capital of drugs and partying
A damning marketing firm report has revealed an AFL finals hopeful has been labelled as the drug capital of the competition by players across the league. The Gold Coast Suns were established in 2009 with high hopes and they entered the AFL in 2011 as the league's 17th team. Backed by major AFL investment, the club was intended to expand the game into new markets. But what followed was years of disappointment, both on and off the field. Now, documents reveal just how bad things got during the club's darkest days. In 2015, marketing firm Bastion was brought in to help clean up the club's image. The move came just weeks after explosive scandals rocked the team's reputation. Photos of star player Harley Bennell appearing to snort white powder were published by the News Corp. The images, reportedly from 2013, created a national media storm. At the same time, former Suns and NRL player Karmichael Hunt told police he had used cocaine with teammates. He also claimed up to a dozen Suns players were involved in the drug culture. The damage to the club's reputation was swift. Bastion's internal report described the Suns with damning terms. 'Drug culture,' 'irrelevant,' 'loose,' 'a joke,' and 'laughing stock' were just some of the descriptions used. The report even referenced links to 'bikies and drugs,' painting a disturbing picture. It claimed the club was seen as 'mollycoddled' and 'not football hardened.' AFL rivals reportedly saw Gold Coast as a 'party club' with poor discipline. In response, Bastion proposed a detailed reputation strategy. The initial phase of the plan was to cost $84,000 per month. Later phases would still cost tens of thousands of dollars each. The goal was simple - to pull the Suns out of their PR nosedive. One document shows Bastion even drafted talking points for then-captain Gary Ablett Jr. They wanted to coach him through a sensitive Channel 7 interview. That same year, the AFL was under scrutiny for its close ties to Bastion. Several Bastion shareholders had strong league links, including Andrew Demetriou and Hamish McLachlan. While the club worked to repair its image, more incidents followed. In 2019, Brayden Crossley tested positive for cocaine and was suspended for a year. In 2020, Brad Scheer was caught with cocaine and handed a good behaviour bond. In 2023, Elijah Hollands was found with cocaine at The Star casino. He received a diversion order and missed two AFL games. All the while, the Suns remained stuck near the bottom of the AFL ladder. There were also wider allegations. In 2015, Queensland's Crime and Corruption Commission investigated cocaine use at the club as far back as 2012. Police believed players were using drugs outside the AFL season. The AFL was not informed of the suspected behaviour at the time.
Cision Canada
4 days ago
- 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
4 days ago
- 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
Yahoo
26-05-2025
- Business
- Yahoo
Withdrawal of Put Option Resolution and Cancellation of EGM
TORONTO, Canada, May 26, 2025 (GLOBE NEWSWIRE) -- Xanadu Mines Ltd (ASX:XAM, TSX:XAM) (Xanadu or the Company) refers to: the announcement dated 5 May 2025 in relation to an Extraordinary General Meeting (EGM) to be held on 4 June 2025; the announcement dated 19 May 2025 in relation to the entry into a Bid Implementation Agreement (BIA) Bastion Mining Pte Ltd (Bastion) in respect of a recommended off-market takeover offer; and the announcement earlier today in respect of the completion of the A$17.2 million placement to Bastion. In accordance with the BIA, the Company announces the withdrawal of Resolution 1 (the 'Put Option Resolution') from the agenda of the EGM. Further, as Resolution 1 was the sole resolution to be considered at the EGM and there is no longer any business to be conducted at the EGM, the Board has resolved, and notice is hereby given by the Company to shareholders, that the EGM scheduled for 4 June 2025 is cancelled. Shareholders are not required to take any action in relation to the EGM. About Xanadu Mines Xanadu is an ASX and TSX listed Exploration company operating in Mongolia. We give investors exposure to globally significant, large-scale copper-gold discoveries and low-cost inventory growth. Xanadu maintains a portfolio of exploration projects and remains one of the few junior explorers on the ASX or TSX who jointly control a globally significant copper-gold deposit in our flagship Kharmagtai project together with our 50-50 JV partner Zijin Mining Group. For further information on Xanadu, please visit: or contact: Colin MoorheadExecutive Chairman & Managing DirectorE: P: +61 2 8280 7497 Spencer ColeChief Financial & Development Officer E: This Announcement was authorised for release by Xanadu's Board. Forward-Looking Statements Certain statements contained in this Announcement, including information as to the future financial or operating performance of Xanadu and its projects may also include statements which are 'forward‐looking statements' that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These 'forward-looking statements' are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Xanadu, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements. Xanadu disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this Announcement or to reflect the occurrence of unanticipated events, other than required by the Corporations Act 2001 (Cth) and the Listing Rules of the Australian Securities Exchange (ASX) and Toronto Stock Exchange (TSX). The words 'believe', 'expect', 'anticipate', 'indicate', 'contemplate', 'target', 'plan', 'intends', 'continue', 'budget', 'estimate', 'may', 'will', 'schedule' and similar expressions identify forward‐looking statements. All 'forward‐looking statements' made in this Announcement are qualified by the foregoing cautionary statements. Investors are cautioned that 'forward‐looking statements' are not guarantee of future performance and accordingly investors are cautioned not to put undue reliance on 'forward‐looking statements' due to the inherent uncertainty therein. For further information please visit the Xanadu Mines' Website at . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Bastion proposes $102m takeover bid for Xanadu Mines
Bastion Mining, an Australian Securities Exchange (ASX)-listed exploration company, has entered into a bid implementation agreement with Mongolia-based mining company Xanadu Mines to make an off-market takeover bid. Under the agreement, Bastion will offer to acquire all the fully paid, ordinary shares issued in Xanadu at A$0.08 per share. The proposal values Xanadu's total equity at A$160m ($102.4m), not taking into account the planned issuance of shares to Bastion. Bastion represents a consortium including Boroo, a private Singapore-incorporated entity, and Xanadu director Ganbayar Lkhagvasuren. Xanadu's Takeover Board Committee, after careful consideration with advisers, has endorsed the offer, suggesting that shareholders accept it unless a better proposal emerges. The offer hinges on Bastion securing a minimum 50.1% interest in Xanadu and is subject to several conditions outlined in the bid implementation agreement. To support Xanadu during the offer period, Bastion has agreed to a share subscription agreement for an additional 286.8 million Xanadu shares at A$0.06 each. This agreement, set to complete on 26 May 2025, will result in a A$17.2m cash injection for Xanadu and increase Bastion's stake in the company. Xanadu executive chairman and managing director Colin Moorhead said: "The proposed acquisition of Xanadu by Bastion is aligned with the company's strategy of generating returns for shareholders and also providing a liquidity event. Bastion's offer provides Xanadu shareholders with an attractive premium, which recognises the company's inherent value and considerable achievements in progressing the Kharmagtai copper-gold project. 'The Takeover Board Committee Directors consider the offer to be in the best interest of shareholders and unanimously recommend that shareholders accept the offer in the absence of a superior proposal and subject to the Independent Expert concluding (and continuing to conclude) that the Offer is fair and reasonable." During the offer period, Xanadu is obligated to refrain from exercising any of the put options outlined in the joint venture (JV) shareholders' agreement. These put options, if utilised, would require Jinping (Singapore) Mining to purchase a 25% or 50% stake in Xanadu's ownership of Khuiten Metals. The JV shareholders' agreement dated 21 December 2022 between Target, Jinping Mining and Khuiten Metals established an incorporated JV for the Kharmagtai project. Lkhagvasuren said: "Together with my partners at Boroo, I am pleased to be making this supported offer to Xanadu shareholders. The Bastion offer provides Xanadu shareholders with the certainty of cash at a significant premium to Xanadu's share price, against a market backdrop of considerable uncertainty. 'Bastion is ideally positioned to advance Kharmagtai to the next stage of development with the benefit of Boroo's experience in acquiring, financing and developing mining operations in Mongolia." In July 2024, Bastion Minerals entered an agreement to purchase three copper projects in Canada. "Bastion proposes $102m takeover bid for Xanadu Mines" 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. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
