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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.

McQuitty resigns from Sheffield in board reshuffle

Former Sheffield Resources managing director and founding shareholder Bruce McQuitty will step down from the board, making way for John Richards and Ian Macliver, as the company moves closer to development of its Thunderbird mineral sands project.

Juniors to raise $32.5m

Liontown Resources, Genesis Minerals, Peak Resources, and Marindi Metals have all made capital raising announcements today as they seek to advance exploration projects.

Perth’s house price slump continues

Perth’s house price woes have worsened further, after it recorded the sharpest decline in median price among Australian capital cities in June, according to the latest CoreLogic data.

Minderoo closer to Indiana choice

Andrew Forrest’s Minderoo Group has narrowed the choice for the preferred design to replace the Indiana Tea House on Cottesloe Beach, after two of the four designs received strong support from the public and the competition jury.

Northern Star, Saracen flag $126m for exploration

Northern Star Resources and Saracen Mineral Holdings have budgeted $76 million and $50 million towards exploration for this financial year, respectively, as the gold miners seek to continue to boost their record level of reserves.

Costs at IGO’s Nova set to rise

Independence Group has exceeded production guidance at its Nova project, but costs at the operation were also higher than expected and are forecast to increase even further this financial year.

Sheffield cuts Thunderbird capex by $101m

Sheffield Resources has trimmed the capex of its Thunderbird mineral sands project by $101 million to $478 million, in order to significantly reduce its equity funding requirements.

ASG wins $75m govt contract

ASG Group has beaten five other submissions to secure a five-year ICT contract with Main Roads Western Australia, in what is one of the largest ICT contracts awarded in WA so far this year.

Altura achieves strong sales in tough market

Altura Mining has recorded solid June quarterly results, but its share price still dropped, amid concerns of a supply and demand imbalance in the lithium sector.

Jupiter chair slams shareholders

Jupiter Mines chief financial officer Melissa North has resigned as a director following a shareholder vote, prompting chairman Brian Gilbertson to take aim at shareholders and external proxy advisers.

Silver Lake to acquire EganStreet for $52m

Silver Lake Resources is set to acquire EganStreet Resources in a scrip deal worth $52 million, as the gold miner seeks to bolster its Deflector operations with a new ore source.

Northern Star misses guidance but hits record sales

Northern Star Resources’ June quarter and 2019 financial year results have fallen slightly below guidance, but it has still set new quarterly and annual sales records on progress at its Pogo mine in Alaska.

WA economy lags behind all other states

Western Australia's economic performance was the worst of all Australian states for the March quarter, according to Commsec’s latest data, but stronger population and exports growth could indicate a turnaround is on the cards.

Tech Scene: ProFound

ProFound is an incubator aimed at helping neurodiverse entrepreneurs launch a digital product with a commercial market fit.

Juniors raise $7.3m

Kingwest Resources has raised $4 million via a share placement, while St George Mining has also completed a share placement, raising $3.3 million.

Cashies forecasts FY19 loss

Cash Converters International says it expects a loss of between $2 million and $4 million for the 2019 financial year, largely due to a class action settlement in Queensland.

Wodgina sale gets Chinese green light

Mineral Resources has secured Chinese regulatory approval for its $US1.15 billion Wodgina stake sale, and was the best performer among the ASX 200 today, despite the miner also releasing weak quarterly results.

Shareholder concern over Elmore probe

The chief executive of iron ore exploration and development company Elmore, formerly IndiOre, has confirmed his brother’s law firm undertook the independent review into the business’s failed project expansion, which was approved and under construction despite no adequate mineralisation being discovered.

Tech giants to face greater scrutiny

Google and Facebook face increased regulation in Australia, after the federal government indicated it would back recommendations of an ACCC report.

Lithium glut hits miners

Updates from two WA lithium miners today have highlighted the extent of the supply glut in the industry, with Pilbara Minerals confirming it will scale back production and Alita Resources launching a strategic review.

Production costs to rise for FMG

Fortescue Metals Group anticipates slightly higher iron ore shipments in the 2020 fiscal year, but the iron ore miner also flagged higher production costs, which it put down to inflationary and haulage pressures.

Eight firms for $200m bridge and road contract

Main Roads Western Australia has awarded a $200 million panel contract to eight engineering businesses, with US-based KBR the only new addition from the previous contract.

ACCC gives conditional green light to AHG takeover

The competition watchdog has accepted AP Eagers' proposed takeover of rival car dealer Automotive Holdings Group, on the condition AP Eagers sells its dealerships in Newcastle and the Hunter Valley region.

MMA to acquire Neptune for $18.5m

Fremantle-based MMA Offshore will acquire Neptune Marine Services in a cash-and-scrip deal worth around $18.5 million, as it seeks to expand its services business.

Sandfire production record, weakened outlook

Sandfire Resources has announced record fiscal year production, however, its gold output is set to fall this financial year.

Kalium to complete Beyondie funding with $72m raising

Kalium Lakes is on the verge of becoming Australia’s first sulphate of potash producer, after it launched a rights issue and placement that will complete funding for its Beyondie project.

Pacific in trading halt amid takeover offer

Pacific Energy has enetered a trading halt today, ahead of an announcement regarding a takeover offer for the remote power provider, with competitor Zenith Energy enjoying a share price surge on the news.

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.

FY19 growth for Regis & Westgold, but costs to rise

Gold producers Regis Resources and Westgold both recorded small production increases for the 2019 financial year, but all-in sustaining costs are set to increase

Matagarup zip line, Optus climb a step closer

Plans for a zip line at Matagarup Bridge and a rooftop climb at Optus Stadium are advancing, after the state government shortlisted three potential operators.

Saracen posts strong FY19

Saracen Mineral Holdings has recorded an increase in full-year production in line with guidance, while its costs were lower than expected.

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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.

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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.