Business News

LCV raises $7.3m for Soar, Unocar

Tommy Shin-led Lateral Capital Ventures has secured funding for two Perth-based startups, led by a $6.8 million raising for blockchain platform Soar.

Insolvency appointments Nov 29 to Dec 12 2018

FirmAppointee/SolicitorRoleCompany NamePublished DateCor CordisClifford Stuart RockeliquidatorACN 600 783 542 Pty Ltd formerly Graham & Associates Pty Ltd ta G A Legal12/12/2018Palisade Busin

Board Moves December 13, 2018

Robert Scott has been appointed non-executive director of Castillo Copper. Mr  Scott has more than 35 years of experience as a corporate advisor at major accounting firms.

Singapore's GIC adds Exchange Tower to Australian portfolio

Singapore’s GIC Real Estate has made its second major Perth commercial property purchase, acquiring A-grade office building Exchange Tower from joint owners Primewest and AMP Capital for $326 million.

Capricorn secures $107m debt deal

Gold aspirant Capricorn Metals has locked in a $107 million debt package, while Subiaco-based TNG has appointed a German bank to lead a $US600 million ($850 million) debt raising.

Ramelius adds cash to Explaurum offer

Ramelius Resources has revised its hostile takeover offer for gold-focused Explaurum, adding a 2 cents per share sweetener to its original deal.

TSI in $8.6m purchase

Local tech company Transaction Solutions International has acquired a Sydney-based cloud management business in a deal worth $8.6 million.

McGowan reshuffles cabinet

Premier Mark McGowan has reallocated six portfolios within his cabinet, including the energy portfolio being transferred from Treasurer Ben Wyatt to Mines and Petroleum Minister Bill Johnston.

Board Moves December 12, 2018

Admedus has appointed LiShan Zhang and YanHeng Wu as non-executive directors, representing its major investor Star Bright Holding.

Maca wins $28m contract

MACA has been awarded a $28 million contract for work at Adaman Resources’ Kirkalocka gold project near Mt Magnet.

Board Moves December 11, 2018

John Evans has been appointed finance director of Crusader Resources. He has been a non-executive director of the company since 2013 and will have overall oversight and responsibility for finance.

WestStar wins largest ever contract

WestStar Industrial has secured an $8 million contract for construction work at Tianqi Lithium’s Kwinana processing plant.

Metronet surveying panel chosen

The state government has awarded consultancies Rawlinsons WA and Turner & Townsend cost estimating contracts for Metronet worth a combined $3.8 million.

Board Moves December 10, 2018

Jussi Nunes has been appointed to the newly-created role of group chief financial officer at Goldfields Money, following the merger with Finsure.

Terra Drone invests in C4D

Japanese company Terra Drone Corporation has taken a 50 per cent stake in Perth-based drone technology company C4D Intel.

Kidman settles tenement dispute

Kidman Resources has reached a settlement with parties in relation to a minimum expenditure obligation for a series of tenements at its Mt Holland project near Southern Cross.

CCI posts profit on reduced revenue

The Chamber of Commerce and Industry of WA has returned to profit after three years of major restructuring that has cut staff numbers and revenue to one third of 2014 levels.

Govt sells $48m of foreign-owned property in WA

The federal government has forced the sale of 30 properties in Western Australia worth nearly $50 million, which were illegally acquired by foreign nationals since 2015.

Board Moves December 7, 2018

Aspire Mining has appointed Achit-Erdene Darambazar and Boldbaatar Bat-Amgalan as non-executive and executive directors respectively.

Pindan wins $45m Koodaideri contract

Pindan has been awarded a $45 million contract to build a 780-room construction camp at Rio Tinto’s $3.5 billion Koodaideri project in the Pilbara.

IGO buys 15% stake in Buxton

Peter Bradford-led Independence Group has taken a $4 million stake in junior explorer Buxton Resources.

Westgold secures $38m

Westgold Resources has tapped investors for $23.4 million, while also announcing the sale of its lithium royalties at Mt Marion and Buldania for $15 million.

Board Moves December 6, 2018

Laurent Raskin has been appointed non-executive director of Celsius Resources.

Tribune in $30m Singapore buy

Gold miner Tribune Resources has purchased Singapore-based explorer Prometheus Developments in a deal worth $30.3 million.

Gruyere forecasts production lift to 300,000oz

Gold Road Resources has increased the forecast annual output for its half-owned $621 million Gruyere gold project, while confirming first production remains on track for mid-2019.

Echo appoints Maca, raises $6.5m

Echo Resources has signed a letter of intent to award two mining contracts to MACA for its Yandal gold project near Leinster, while also announcing a $6.5 million capital raising backed by major shareholder Northern Star Resources.

Board Moves December 5, 2018

Advanced Braking Technology has promoted current chief financial officer John Annand to chief executive. He succeeds Peter Hildebrandt who has stepped down from the role.

Board Moves December 4, 2018

Admedus has appointed Kiran Bhirangi as chief medical officer, based in Minneapolis.

Explaurum backs Alkane investment

Explaurum has asked shareholders to accept an $8 million placement from Alkane Resources on the same day a report from independent expert BDO said a hostile takeover bid from Ramelius Resources undervalued the gold explorer.

Roberts buys $30m MinRes stake

Perth rich lister and Mineral Resources director Tim Roberts has bought a $29.6 million stake in the diversified mining company.

Indonesian group cleared to acquire Kangaroo Resources

Indonesian coal mining group PT Bayan will pay $226 million to acquire the remaining shares in ASX-listed coal play Kangaroo Resources it does not already own, after the Supreme Court of Western Australia approved the takeover deal.



$120m in new work for Monadelphous

Perth-based Monadelphous Group has received a number of contracts with multiple clients including Fortescue Metals Group, BHP Billiton and Chevron, with the work worth a combined $120 million.

FMG appoints Gaines as CEO

Fortescue Metals Group has announced major changes to its leadership, with a new chief executive taking the reins and its directors taking a hands-on role to support an updated strategy that focuses on producing more higher-grade iron ore.

Perth CBD office vacancy hits 25-year peak

Downsizing in the resources sector is outstripping emerging demand from technology, medical and education businesses for CBD office space according to a new report by independent property research firm Y Research.

Gow questions builder's financial status

The building commissioner has put out a public warning against a local building company, saying its financial status warrants questioning.

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EPA rejects MinRes, Sinosteel iron ore mines

The environmental watchdog has recommended rejection of two proposals to mine iron ore in Western Australia because they would cause irreversible damage to the land.

Robert Kennedy passes away

Company director Robert (Bob) Kennedy, who was a director or chairman of four ASX-listed companies, has passed away after a short illness.

Taxi plate buy-back part of transport shake-up

Perth taxi and Uber users may see a 10 per cent fare hike for the next four years to fund taxi plate buy-backs as the state government revamps on-demand transport.

Site found for WA's first open-range zoo

The state government has locked in a location for Western Australia’s first open-range zoo, which is expected to cost up to $100 million to develop.