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Adrian Rauso

Adrian Rauso joined Business News in February 2018 as the morning email producer and is the online news reporter as of January 2019. Adrian completed a degree in journalism and politics at the University of Notre Dame, where he was the co-editor of the University’s student magazine for nearly two years. He also has experience in corporate affairs at the United States Consulate in Perth.

IMF makes $141m Euro acquisition

IMF Bentham has struck an agreement to acquire Omni Bridgeway for up to €87.5 million ($A141 million), which will be a tie-up of two of the biggest players in the litigation funding industry.

Merchant buys $12m AusCann stake

Perth-based Merchant Group is now the largest shareholder of medical cannabis company AusCann Group Holdings, after it acquired an 11.43 per cent stake worth around $11.6 million.

Beament in line for big pay rise

Northern Star Resources executive chairman Bill Beament will have his fixed annual remuneration nearly doubled for the 2020 financial year, with the potential to earn up to $7.2 million.

Bass to depart as Eagle Mountain CEO

Tim Mason will replace Charlie Bass as the chief executive of Eagle Mountain Mining in January, amid the copper-gold explorer’s share price nearly halving in the space of just over a year.

Stavely raises $20m to capitalise on golden run

Gold and copper hopeful Stavely Minerals has tapped investors for $19.6 million via a share placement, as it seeks to take advantage of its surging share price to advance its exploration projects.

Santos buys out Conoco in northern Aus for $2.1bn

Santos has struck a deal to pay up to $US1.44 billion ($A2.12 billion) for ConocoPhillips' interests in northern Australia, including its majority stake in the Darwin LNG plant and its interest in three major gas fields off the coast of Western Australia and the Northern Territory.

Silver Lake shares surge on quarterly update

Silver Lake Resources was the best performer on the ASX 200 today, after it released strong September quarterly results and told investors it anticipates more good news for the financial year ahead.

Mortgage lending rebounds in WA

Housing finance provider Australian Finance Group says lending for homes in the first quarter of the 2020 financial year in Western Australia has rebounded from record low levels to reach its highest figure since the end of the 2017 fiscal year.

Perth adviser brokers international phone deal

Perth-based BDO partner Todd Grover has had a key role in navigating the sale of Sydney-based Comsec TR to a European prison media and communications provider.

Lithium royalty changes for downstream processing

The state government has factored in lithium hydroxide and carbonate into its royalty arrangement for lithium producers, which it claims will encourage downstream processing and manufacturing.

Pindan wins $90m Rio works

Pindan has been awarded a $90 million contract for the construction of an operations village for Rio Tinto’s Koodaideri iron ore project, with the announcement coming less than a week after Oxley Holdings acquired full ownership of the contractor.

Venus takes Bosio and Adams to court

Venus Metals Corporation has commenced proceedings in the Supreme Court of Western Australia against Davide Bosio, Paul Adams, DJ Carmichael and Spectrum Metals, in relation to Spectrum’s acquisition of the Penny West gold project.

Transit Systems wins $144m pa bus contracts

SeaLink Travel Group’s $700 million takeover target, Transit Systems, has renewed two transport contracts in Western Australia worth around $57 million per year, as well as securing a new contract.

Smart Marine acquires remote comms company

Smart Marine Systems has acquired fellow WA-based ocean technology business Advanced Offshore Streaming in a deal potentially worth over $5.5 million.

Lendlease wins contract to fix Indian Ocean Drive

Lendlease and BMD Constructions have both secured road-widening contracts from Main Roads Western Australia worth more than $18 million combined.

REIWA outlines industry recovery plan

The Real Estate Institute of Western Australia has renewed its push to increase the stamp duty exemption threshold for first homebuyers, as part of a six-point plan it unveiled to help breathe new life into the state’s weak residential construction and property markets.

NAIF advancements for two WA projects

Technology Metals Australia and Strandline Resources both announced their flagship Western Australian projects have reached the due diligence phase of the Northern Australian Infrastructure Facility funding assessment process.

Zelda to merge with US cannabis company

Perth-based Zelda Therapeutics has struck an agreement to merge with Ilera Therapeutics that could potentially be worth more than $65 million, as it seeks to grow in the heavily regulated global medical cannabis market.

Busselton underwater centre catches funding wave

Busselton is set to have an underwater observatory, after the federal government committed $13 million to the project as part of its Regional Growth Fund.

BDO says diesel banned underground by 2023

A new report from advisory firm BDO has predicted diesel machinery will be banned in all new Australian underground mines by 2023, which could pave the way for a rapid uptake of electric battery-based machinery in the industry.

Vacancy rate at 140 St Georges nears zero

AMP Capital has secured tenants for four whole floors of 140 St Georges Terrace, which has pushed the vacancy rate at the office tower to below 1 per cent.

State govt awards over $11m of contracts

WA Profiling & Stabilisation, Aurecon, and Adtech FRP are the latest major winners of state government contracts, worth about $11.2 million.

Jandakot upgrades in flight

The state government has announced a runway extension at Jandakot Airport to support the Royal Flying Doctor Service and turned the first sod for a new medical laboratory in Jandakot Business Park.

Tribune, Rand pay more than $17m in dividends

Anthony Billis’s Tribune Resources and Rand Mining have paid out around $11.1 million and $6 million in dividends, respectively.

Indus scraps ASX listing bid

Perth-based Indus Energy has withdrawn plans to buy South Australian company New Era Oil and Gas and re-list on the ASX, after it concluded it could not raise the $4 million required.

UK power player wins $10m Kalium contract

Kalium Lakes has awarded Clarke Energy a contract for a 7.5-megawatt power station, as the remote power station provider re-emerges in the Western Australian market.

Heron to raise $91m in fight for survival

Copper and zinc producer Heron Resources has launched a $91 million funding package, as it is set to run out of cash this month, following delays in construction and ramp-up at its Woodlawn zinc-copper project in NSW.

Metals X fights back against major shareholder

Copper and tin miner Metals X is set to reject a motion by its largest shareholder, APAC Resources, to appoint a representative to its board.

Hope on the horizon for Alita

The Supreme Court of Western Australia has agreed to delay a creditors meeting of Alita Resources, as its administrators assess more than 11 proposals that could revive the fallen lithium miner.

Trigg left bruised after first day on the ASX

Trigg Mining has closed trade 30 per cent lower than its initial public offering valuation, as the sulphate of potash explorer finally debuted on the ASX following several delays.

Three gold juniors raise nearly $27m

Cardinal Resources has raised $17.6 million through the exercise of listed options, while Black Cat Syndicate and Azure Minerals were also in the market for equity.

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Work under way on $400m Karratha FIFO camp

Multiplex has commenced construction of the 604-bed Bay Village accommodation facility for Woodside Petroleum's fly-in, fly-out workers in Karratha.

Sweetlips and Tim Ho Wan close doors

Perth’s hospitality woes have continued, after fish and chip chain Sweetlips entered liquidation and Raine Square tenant Tim Ho Wan closed its doors after less than a year.

Morning Headlines

Crackdown on rorters taking ATO for ride

Perth house prices fall again

The median price of a house in Perth recorded the largest decline among all state capitals for September, with the slump over the past five years now surpassing 20 per cent, according to the latest CoreLogic data.

most commented

Flinders disclosure concerns mount

Many minority shareholders of Flinders Mines have voiced discontent at the conduct of their board.

Morning Headlines

Elanor in $125m Perth purchase

Busselton misses out on Qantas base

Busselton has missed out on a new pilot training base, after Queensland snagged both Qantas academies.

WA business confidence falls again

Western Australia’s business confidence has fallen for the second quarter in a row, which the Chamber of Commerce and Industry of WA says indicates the need to reduce WA’s payroll tax.