Perth entrepreneur Dean Scook has been sentenced to three years in prison after being convicted in the District Court over a market deception scheme involving shares in a junior explorer in 1998.

West Perth-based iron ore explorer Vector Resources Ltd has closed its initial public offer oversubscribed, raising $12 million for exploration and development of its Nabberu Iron Project.

Subiaco-based oil and gas explorer Modena Resources Ltd has performed well in its debut on the Australian Securities Exchange, closing up 20 per cent in its first day of trade.

West Perth-based tin and base metals company Bellevue Resources Ltd will raise $3.5 million in its initial public offer, to be used for further acquisitions and exploration of its North Queensland project.

The directors of Home Building Society Ltd have moved to reassure shareholders that its proposed merger with Bank of Queensland would not be affected by BOQ's failure to complete a separate merger with Mackay Permanent Building Society Ltd.