Business News

Board Moves March 24, 2017

Eric de Mori has resigned as non-executive director of Connected IO.

Sheffield's Thunderbird to cost $348m

Sheffield Resources has moved to the next stage of progressing its Thunderbird mineral sands project near Derby, after releasing a bankable feasibility study which revealed a development capex of $348 million.

Paladin to take action against JV partner

Uranium miner Paladin Energy says it has started arbitration proceedings against its Chinese joint venture partner over complications with its plans to sell a stake in its Langer Heinrich mine.

Empired raises $16m

IT services provider Empired has tapped investors for $16 million to pay off debt and meet $7.7 million in outstanding vendor payments.

Aurizon recruits another WA manager

Rail freight operator Aurizon has brought in former Woodside Petroleum senior manager Tina Thomas as executive vice-president of human resources, as the company undertakes a new organisational structure.

Alara signs copper offtake agreement

Perth-based explorer Alara Resources has signed an offtake agreement for copper from its Al Hadeetha project in Oman, with the deal including a $US6 million ($A7.8 million) pre-payment.

Board Moves March 22, 2017

Birimian has appointed Michael Langford and James McKay as non-executive directors, following the retirement of Winton Willesee and Hugh Bresser from the board.

Dowling, Boyle join Fleetwood

S2 Resources chairman Jeff Dowling and Clayton Utz partner Stephen Boyle have been named incoming directors of Fleetwood Corporation, while Michael Hardy has retired from board.

Pharmanet to relist as gold company

Dormant Perth-based biotech company Pharmanet Group will re-emerge as a gold explorer after entering into an agreement to acquire Keras Australia by way of a reverse takeover.

Austal wins $48m in more US navy work

Henderson-based shipbuilder Austal says a modification to a previously awarded contract for littoral combat ships with the US Department of Defense is worth about $US36.6 million ($A47.8 million).

Carnegie raises funds for solar power project

Carnegie Clean Energy has announced plans to raise up to $6 million to fund its share of the development costs of the $20 million Northam solar power project.

BGC wins $720m Arrium contract

Arrium administrators KordaMentha has awarded BGC Contracting a $720 million contract to continue work at the Iron Knob and South Middleback Ranges iron ore projects in South Australia through to 2022.

Board Moves March 21, 2017

Acacia Coal has appointed Hugh Callaghan as managing director, Rob Scott finance director, Peet Snyders chief operating officer, and Filippo Faralla general manager, strategy and marketing.

Cancer Council welcomes new CEO

Ashley Reid has been appointed as the new chief executive of Cancer Council WA, replacing Susan Rooney who is stepping down in April, having led the organisation since 2002.

Emeco taps market for $20m to fund merger

Heavy equipment supplier Emeco Holdings has launched a fully underwritten $20 million capital raising to fund its three-way merger with east coast companies Orionstone and Andy's Earthmovers.

Raising brings New Horizon back in play

Dormant explorer New Horizon Coal has extended its deadline for an $18.8 million capital raising after receiving an underwriting commitment for 70 per cent of the target amount, as it looks to shift its focus to oil.

Goldfields raises funds for new platform

Financial services provider Goldfields Money has raised $4.2 million from investors as it launches a new digital platform and completes a rebranding.

RAC partners with health insurer

Royal Automobile Club of WA members will be eligible for a 5 per cent discount on health insurance cover through a new partnership with national provider HCF.

Board Moves March 20, 2017

Doray Minerals has appointed current business development manager, Rod Jacobs, as chief operating officer.

Cash to lead Millennium

Local gold miner Millennium Minerals has found an internal candidate to replace outgoing chief executive Glenn Dovaston, who has resigned after two years at the helm.

Gascoyne, Intermin reach milestones

Perth-based gold juniors Gascoyne Resources and Intermin Resources have both reached milestones, with Gascoyne earmarking GR Engineering Services for construction of processing infrastructure while Intermin has achieved first production.

Kidman to buy more Western Areas tenements

Kidman Resources has entered into an agreement to farm-in to 19 lithium-prospective tenements in Western Australia owned by nickel miner Western Areas, with the scrip-and-spend deal worth up to $11.6 million.

MinRes increases Hazer stake

Graphite-focused tech company Hazer Group has announced plans to form a joint venture with diversified business Mineral Resources, after MinRes boosted its stake in Hazer by subscribing for $5 million worth of shares.

Board Moves March 17, 2017

Entek Energy has announced a reorganisation of their board members' roles. Current non-executive director, Howard Dawson, becomes non-executive chair.

Servtech up on ASX debut

Property-focused software company Servtech Global Holdings has wrapped up its first day of trading on the ASX, after completing a $6 million initial public offering.

Applications open for research grants

Grants of up to $100,000 supporting patient-focused projects are now on offer for local neuroscientists through the Neurotrauma Research Program at the Harry Perkins Institute of Medical Research. 

Inpex seeks redeployment for Laing's workers

The developer of the Ichthys LNG project has moved to assure the 800 workers affected by Laing O'Rourke's ejection from site that it would redeploy as many as it could to keep construction going.

TNG spin-out raises $6m

TNG spin-out Todd River Resources has raised $6 million from its initial public offering ahead of its ASX debut, which could occur before the end of the month.

Mod raises more funds for copper project

Copper explorer MOD Resources launched its second capital raising in three months, tapping investors for $14.6 million to fund ongoing work at its T3 project in Botswana.

Board Moves March 16, 2017

Terry Topping has been appointed executive chair of Kairos Minerals. Ian Finch has resigned as non-executive chair.

Lepidico taps market for $5.7m

Takeover target Lepidico has tapped investors for nearly $5.7 million, a day after Breakaway Research recommended the Perth lithium company as a 'speculative buy'.



$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.

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.

Blackburne leads WA in Young Rich List

Perth property developer Paul Blackburne is the wealthiest of five Western Australians featured in the BRW Young Rich List 2016.

Job cuts at Crown Perth

Crown Resorts has reportedly cut more than 200 jobs at its Crown Perth entertainment complex in the wake of a 38 per cent fall in high-roller revenue.

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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.

Senate orders Roe 8 inquiry

UPDATE: A snap inquiry into alleged breaches of environmental conditions at the Roe Highway extension project will be held next week, after a motion introduced to Parliament by Greens Senator Scott Ludlam was today backed by the Senate.

Grylls concedes seat

WA Nationals leader Brendon Grylls, who was the target of a $2 million mining industry advertising campaign, today conceded he's lost his seat of Pilbara to Labor's Kevin Michel.

Hoyts to open cinema in Karrinyup

Hoyts Group has announced plans to open a new cinema complex in Karrinyup and redevelop its Garden City complex, as part of shopping centre redevelopments in those areas.