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Andrew Hobbs

Amex closes down 20% in ASX debut

West Perth-based gold and copper explorer Amex Resources Ltd has closed at 16 cents in its debut on the Australian Securities Exchange, down 20 per cent on its offer price of 20 cents.

Cape Range restructure plans finalised

The deed administrators of West Perth-based wireless technology developer Cape Range Wireless Ltd have finalised negotiations for a restructure of the company, with the proposal to be subject to creditor and shareholder approval.

Carpentaria launches $7.5m IPO

Carpentaria Exploration Ltd, a spin-off of West Perth-based Giralia Resources NL has lodged its prospectus with the Australian Securities and Investments Commission, aiming to raise $7.5 million.

Hydrotech secures signoff on UK rail project

East Perth-based company Hydrotech International Ltd has secured a sign-off on work completed at London's Walthamstow Central train station for the UK's Metronet Alliance, freeing it up to seek further opportunities.

APEC, Lead and the Railway in View from the Arch

As the APEC meeting in Sydney dominated news headlines this week, the State government had a fair bit of explaining to do, with a cost blow-out in the Perth-to-Mandurah railway and sharply pointed fingers over the Esperance lead contamination.

Ericsson drops cross claims in ipernica case

West Perth-based intellectual property company ipernica Ltd has had a tactical win its legal battle with international technology company Ericsson Inc, which has abandoned a series of cross claims.

WA vehicle sales growth up 11.4%

Vehicle sales in Western Australia fell slightly in the month of August, but the outlook remains positive, with an 11.4 per cent increase in sales when compared to last year.

NRW closes up 20.5% after $300m IPO

Welshpool-based mining and earthmoving contractor NRW Holdings Ltd, which recently completed a $303 million initial public offering, has debuted strongly on the Australian Securities Exchange, closing up 20.5 per cent at $2.41.

Odin makes ASX debut down 2 cents on offer price

West Perth-based oil and gas explorer Odin Energy Ltd has made a lacklustre debut on the Australian Securities Exchange, closing its first day of trade at 23 cents, down 2 cents on its offer price.

Delong builds Cape Lambert stake

Chinese steel-making group Delong Holdings Ltd will take a 13.25 per cent stake in Leederville-based iron ore explorer Cape Lambert Iron Ore Ltd for $14.6 million, the company has announced.

Gunns and Ruses in View from the Arch

As the Federal ALP unveiled its planned IR policy this week, Jim McGinty put forward a few changes of his own. Meanwhile, no-one's made up their mind on a Tasmanian pulp mill, Laura Bush is a no-show, and a teenager cracked Canberra's $84 million internet

State plans eight-fold Tech Park expansion with ICT focus

The State Government plans to turn Bentley's Technology Park into a specialist information and communications technology hub, as part of a wider development of the area, Industry and Enterprise Minister Francis Logan has announced.

State allocates $3.5m to clear tenement applications backlog

The state government has committed $3.5 million to clearing a mining tenement applications backlog, which it believes will encourage further exploration in the state, but industry is looking for more support.

Nare plans name change, AIM,JSE listing after diamond deal

West Perth-based Nare Diamonds Ltd has signed a joint venture deal with Government-owned Angolan diamond mining company Endiama, ahead of plans for a name change and listing on two foreign exchanges.

ALP's IR plan reaction: ACCI, MCA, Howard, Reynolds, Siewert

The federal opposition's industrial relations plans announced today are nothing more than window dressing and will severely damage the economy, according to the Australian Chamber of Commerce and Industry.

Aspen sees L'Oreal make up for HP as profits up 81.3%

Perth-based commercial property investor Aspen Group Ltd has announced an underlying net profit after tax of $33.5 million, up 81 per cent on the previous year's results.

Bauxite Resources opens $5m IPO

East Perth-based bauxite explorer Bauxite Resources Ltd has opened its initial public offering, with the company aiming to raise $5 million to fund exploration of three bauxite projects in Western Australia.

Men of distinction in View from the Arch

The minute one walked in the joint, one could see that big spenders would populate Federal Parliament this week, as a budget surplus was unveiled and takeover plans were mooted for ports, housing and hospitals. Oh, and there were strippers.

Little World profits up 9.4% after write offs

Fremantle-based Little World Beverages Ltd, the owner of brewery Little Creatures, has achieved a 9.4 per cent increase in net profit to just under $3 million, after a series of write offs.

Echo and the Moneymen in View from the Arch

Echoes were prevalent in politics this week, with the sound of earlier comments coming back to haunt the Treasurer, while the government's "echonomics" taunt remains strong. Meanwhile, energy and housing affordability both made it onto the agenda.

Integrated Legal Holdings debuts down on ASX

Perth-based Integrated Legal Holdings Ltd has made its long-awaited debut on the Australian Stock Exchange, closing at 38 cents, down from its 50 cents offer price earlier this year.

Global Construction Services closes up 20% in ASX debut

Redcliffe-based construction services company Global Construction Services Ltd has debuted strongly on the Australian Stock Exchange, rising 20 per cent from its offer price to close at $1.20.

Hawk soars higher in ASX debut

Nedlands-based tungsten explorer Hawk Resources Ltd, previously known as Lonhro Resources Ltd, has closed at 24 cents, up 20 per cent in its first day of trade on the Australian Stock Exchange.

Desert Energy closes down in ASX debut

Perth-based uranium company Desert Energy Ltd, a spin-off from gold explorer Aurora Minerals Ltd, has closed at 18 cents, down from its offer price in its debut on the Australian Stock Exchange in a negative market.

Ampella steady on second day on ASX

West Perth-based zinc and gold explorer Ampella Mining Ltd closed steady after its second day of trade, continuing to trade at its issue price of 20 cents after raising $6.5 million in its initial public offer.

Quadrio accepts Territory MD role

Long-term Michael Kiernan business ally Allan Quadrio will join the board of Territory Resources Ltd as managing director, passing his role at Kiernan's Monarch Gold Mining Company Ltd to Matthew Gill.

Winking in the dark in View from the Arch

Whether the lights were on or off, politicians were doing a lot of winking this week as Federal parliament resumed after the winter break.

WA car sales recover, up 11.6% on 2006 levels

Car sales in Western Australia are back on the up, with the industry recovering from two months of single digit growth, recording an 11.6 per cent increase for the year to date.

Three new ASX debuts as Centaurus soars ...

West Perth-based gold and base metals explorer Centaurus Resources Ltd has debuted strongly in a bad day for the ASX, closing at 89.5 cents, up 258 per cent from its offer price of 25 cents.

... while Aragon holds its ground on day one ...

Perth-based Aragon Resources Ltd, a spin-off of Westgold Resources NL, was down one cent from its offer price, closing at 24 cents on its ASX debut after raising $8.7 million for work on its gold, uranium and nickel projects in its initial public offering

... and GTI slips 15% in first day's trade

West Perth-based uranium and gold company GTI Resources Ltd has closed down in its ASX debut in a tough day for the market, after raising $3 million in its initial public offer for exploration and evaluation of its Western Australian projects.

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