Andrew Hobbs

Kagara, LionOre shares fall after $25m deal

The share prices of Kagara Zinc Ltd and Canadian LionOre Mining International Ltd fell today after the giant sold a non-strategic greenfield nickel project to the West Perth company for $25 million.

Cape Lambert hoses down Essar agreement speculation

Leederville-based iron ore company Cape Lambert Iron Ore Ltd has moved to hose down speculation of an agreement with Indian steel giant Essar Group, saying the company remained in negotiations with other parties.

Arafura to raise $4m in IPO

Subiaco-based Arafura Pearls Holdings Ltd aims to raise $4 million through its initial public offer to fund the purchase of a greater oyster cultivation licence quota and fleet upgrade.

Mt Gibson gets $40m after Asian Iron escrow lifted

Mount Gibson Iron Ltd and its subsidiary Mount Gibson Mining Ltd will receive $40 million in proceeds from the sale of their combined 73 per cent interest in Asia Iron Holdings Ltd immediately, following its release from escrow.

Austal signs $140m contract with mystery buyer

Henderson-based ship-builder Austal Ltd has secured a $140 million contract with an overseas group to build multiple aluminium passenger ferries, with the option of further purchases.

GulfX closes scrip offer fully subscribed five days after opening

West Perth-based oil and gas explorer GulfX Ltd closed its share and options offer just five days after launching a prospectus to raise $600,000 to fund exploration expenses of the company's Gulf of Mexico oil assets.

Impact closes $5m IPO early

West Perth-based uranium hopeful Impact Minerals Ltd will look to list on the Australian Stock Exchange as soon as possible after closing its $5 million initial public offer early.

Westonia Mines to raise $6.1m through rights issue

West Perth-based gold explorer Westonia Mines Ltd has announced plans raise $6.1 million through a renounceable rights issue to shareholders, raising money for the company's Westonia Gold project.

U3O8 aims to raise $300k through options issue

West Perth-based uranium mining company U3O8 Ltd has launched a non-renounceable entitlements issue to investors, aiming to raise over $300,000 for exploration and development costs.

Chemeq, Stark dispute adjourned to November 29

The dispute between embattled animal pharmaceutical products manufacturer Chemeq Ltd and US bonds trader Stark Trading will be adjourned to November 29 to permit a Supreme Court hearing.

Lillywhite's Verve swerve for Australian Renewable Fuels

Former Verve Energy chief executive John Lillywhite has been appointed chief executive of embattled biofuels player Australian Renewable Fuels Ltd.

Carpenter, Omodei sound states' rights alarm on IR decision

Premier Alan Carpenter and Opposition Leader Paul Omodei have condemned today's High Court decision to uphold the federal government's ability to overturn state industrial relations regimes.

One-year-old celebrates birthday, seen by 10,000

WA Business News' Daily Business Alerts celebrates its first birthday today, with more than 10,000 subscribers to share the moment.

Peet to raise $80m in placement

Perth-based property funds and aset management group Peet Ltd will raise $80 million through an institutional placement to develop new profit streams and make acquisitions.

Delay in CVRD nickel project to have no impact, says GRD

Delays in CVRD's giant Niquel do Vermelho nickel project in Brazil will have no material impact on the financial results of engineering contractor GRD Minproc, the company stated today.

BC Iron launches prospectus for $6m cap raising

Perth-based iron ore company BC Iron Ltd has launched its prospectus, aiming to raise $6 million for exploration of its iron ore assets, recently spun off from Alkane Exploration Ltd and Consolidated Minerals Ltd.

ISS issues prospectus after fundraising shortfall

Nedlands-based information and technology company ISS Group Ltd has lodged a short-form prospectus with ASIC to support the issuing of 8.2 million shares to raise $1.5 million.

Quirk appointed to small business portfolio

Corrective Services and Women's Interests Minister Margaret Quirk was scheduled to be appointed Small Business Minister this afternoon after the resignation of Norm Marlborough from the portfolio.

AWB vetos CBH export application

AWB International has used its veto power to reject a bulk export licence application from Co-operative Bulk Handling Group, protecting wheat growers delivering to the National Pool, while leaving WA wheat growers with few options.

WildHorse leads uranium charge

Uranium remained the hottest sector in town last week, with shares in West Perth uranium company WildHorse Energy Ltd listing on the Australian Stock Exchange at more than two and half times its subscription price.

Sovereign in $5.9m cap raising for Qld exploration venture

Perth-based copper company Sovereign Metals Ltd will raise $5.9 million through a shares and options offer to fund its involvement in a joint venture with Mount Isa Mines Ltd - Xstrata Copper.

Deep Yellow to raise $15.6m for uranium acquisition

Subiaco-based uranium exploration company Deep Yellow Ltd was the most actively traded stock on the ASX today, announcing its plan to raise $15.6 million through a non-renounceable entitlements issue.

Mount Gibson extends Aztec offer date to November 10

Mount Gibson Iron Ltd has extended the closing date of its takeover offer for Aztec Resources Ltd to 5:00 pm WST on November 10, after announcing a five per cent increase of its share in the company.

Debt booms in WA as mortages jump 20% to $55bn

Western Australia's property splurge has driven mortgages to a record $55 billion, an increase of more than 20 per cent in just one year.

WildHorse charges ahead in first day's trade, up 170%

Shares in West Perth uranium company WildHorse Energy Ltd have charged ahead to close at $1.08, 170 per cent up from its initial offer price of 40c, in an impressive ASX debut.

Prime in $2.2m IPO to raise exploration funds

West Perth-based minerals explorer Prime Minerals Ltd aims to raise $2.2 million through its initial public offer to fund drilling at the company's WA uranium and gold projects.

Alcaston in $1.7m rights issue to fund Fiji drilling projram

West Perth-based gold explorer Alcaston Mining NL has announced a pro-rata renounceable rights issue to existing shareholders to raise around $1.7 million for a drilling program at its Fiji gold project.

Wally Foreman dies in hospital

ABC sports commentator and journalist Wally Foreman has died, following a heart attack at an Osborne Park gymnasium on Tuesday.

XState uranium play to raise $6m

Nedlands-based uranium explorer XState Resources Ltd, formerly Oriental Crystal (International) Ltd, has issued a prospectus to raise $6 million, funding a change in the company's direction.

Mutiny issues options to shareholders on one for two basis

South Perth-based gold explorer Mutiny Gold Ltd has issued a prospectus for options to existing shareholders, to be distributed on a basis of one for every two shares held.

Chinese take Aztec, Mt Gibson stakes as word war continues

Shares in squabbling iron ore companies Mt Gibson Iron Ltd and Aztec Resources Ltd jumped two per cent today on news of strategic stakes in both being taken by Hong Kong-based Shanghai Merchants Holdings Ltd.


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Albidon raises $13.4m for Zambian nickel project

Nedlands-based nickel company Albidon Ltd has raised $13.4 million from UK and Australian instititional investors to fund development of its Munali project in Zambia.

Cannes-do attitude for Perth Art Director

Perth art director Scott Hitchcock has had huge success at the prestigious Cannes Lions Festival for advertising, winning Gold and Bronze Lions for campaigns he worked on while art director at Oglivy & Mather, Singapore.

Aspen Group in trading halt

Perth based property developer Aspen Group Ltd has announced a trading halt, pending an announcement from the company expected on Wednesday.

West Australian Metals finalises A1 deal

Perth-based resources and exploration company West Australian Metals Ltd today announced the finalisation of the sale of the group's Duketon Belt gold exploration properties in the Laverton and Leonora area to Osborne Park-based A1 Minerals Ltd.