Daily Brief Australia: Insignia Financial, Red Hawk Mining , Predictive Discovery and more

• One exceptionally crowded data room as PE outfit Brookfield Capital joins Bain Capital and CC Capital with a matching A$4.60/share NBIO, via a Scheme, for Insignia Financial (IFL AU).
• Brookfield’s Offer may include a scrip alternative in an unlisted bid vehicle, subject to caps.  As with Bain and CC Capital’s Offers, Brookfield’s Offer would ultimately require FIRB signing off.
• And similar to Bain and CC Capital, Brookfield has been afforded a limited period of access to certain non-public information on a non-exclusive basis.

• Back on the 28th January, Fortescue Metals (FMG AU) launched a A$1.05/share off-market Offer for Red Hawk Mining (RHK AU), increasing to A$1.20/share if securing 75% of shares out. 
• Red Hawks has announced Fortescue now has 78%, and has bumped terms to A$1.20/share. The Offer remains subject to “no prescribed occurrences“, which should be waived by the 17th Feb.
• The Offer remains open until the 3 March. Unless extended. Fortescue intends to delist Red Hawk. 

• Predictive Discovery receives a strategic investment of $69 million from Lundeen and Zejin, leading to a 13% increase in stock price
• The funds will be used for advancing the DFS at the Bankhan gold project in Guinea and other development activities
• Predictive’s Bankan project has a 5.4 million ounce resource and a 3 million ounce reserve, with an average production profile of 269,000 ounces per annum over 12 years at an AISC of $1,100 per ounce

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