Business News

Southern Cross posts strong results

Southern Cross Electrical Engineering has reported a net profit after tax of $4.5 million for the first half of the financial year, a rise of 66 per cent from the prior corresponding period.

Nexxis to target robotics market with GMT acquisition

After acquiring custom engineering firm Groves Manufacturing & Tooling on January 1, Nexxis will restructure and rebrand its new acquisition under the name SixDe, as it pushes into the robotics industry.

Insolvency appointments Feb 13 to 26 2019

Macfield Construction Pty Ltd, Halls Star Pty Ltd, Fennessy's Motors Pty Ltd, Apotheke Pty Ltd, Q Collections Pty Ltd, BXLXS Pty Ltd, A1J Auto Parts Pty Ltd as trustee for the RSM Family Trust...

Board Moves February 26, 2019

Our daily board moves wrap includes Mark McConnell, Andrew Stott, Eric Hughes, Martin Carolan, Garry Triglavcanin, Bill Hornaday, and Lindsay Ward.

Ausdrill secures $123m contract

Ausdrill has secured a two-year contract extension for works at the Nsuta manganese mine in Ghana, West Africa.

Altura moves closer to production target

Altura Mining has announced it its closer to the production target at its Pilgangoora lithium project, after it made improvements to the processing plant.

SRG lowers full-year guidance

SRG Global has reported solid half-year results but its shares fell sharply after it lowered its full-year guidance on the back of project delays.

Board Moves February 25, 2019

Our daily board moves wrap includes Po-Tao Wei, Yi-Chin Chen, Chia-Tai Chiang, Ian King, Nicholas Sage, David Tasker, Li Yi, and Victor Goh.

Evolution buys Tribune stake for $41m

Evolution Mining has purchased a 19.9 per cent stake in Tribune Resources, which holds a major interest in the East Kundana project operated by Northern Star Resources.

AusCann appoints CEO

Medical cannabis company AusCann Group Holdings has appointed international pharmaceutical executive Ido Kanyon as its new chief executive, nearly five months after it was announced that Elaine Darby would resign from the role.

Millennium to raise $15m

Millennium Minerals has announced a $15 million rights issue, with the proceeds set to go towards the development of its Nullagine gold project.

Corporate finance deals Feb 18 to 22 2019

Calidus Resources is pleased to advise that it has successfully completed the 100% acquisition of the strategic tenement EL45/4555 with Epminex WA Pty Ltd covering an area of 19.2 square kilometres in

Board Moves February 22, 2019

Altura Mining has promoted current general operations manager Phil Robinson to the position of chief operating officer, as the company transitions from a project developer to miner.

Bellevue raises $20m

Bellevue Gold has raised $20 million via a share placement, with the funds to go towards drilling at its namesake project located near the Goldfields town of Leinster.

Appointments February 22, 2019

Our weekly appointments wrap includes Graeme Gammie, Ward Dedman, Tony D’Alessandro, Ian Martinus, Karen Brown, Paul Boyatzis, Derek Barlow, Jacob Wallman, Paul Ryan, Adam Parr, Peter van Onselen, Jeff Seaby, Kevin Fuchsbichler and Trevor Badger.

Board Moves February 21, 2019

Our daily board moves wrap includes David Blackhall, Stewart Washer, Ian Hobson, Raj Surendran, Chiew Sheng Tay, and Mark Okeby.

Accountant jailed for tax fraud

A 33-year-old Perth accountant was today sentenced in the Perth District Court to four years’ jail for tax fraud, after obtaining and trying to obtain over $250,000 from his clients and the Australian Taxation Office.

Sky and Space to raise up to $15m

Michael Malone-chaired Sky and Space Global has received binding commitments to raise $12 million via a share placement, with a further $3 million to be raised through a priority offer.

Board Moves February 19, 2019

Our daily board moves wrap includes Patrick Holywell, Alistair Cowden, Tim Laforest, and Mike Roche.

BHP profit down 8%

BHP Group has posted an 8 per cent fall in first-half underlying profit to $US3.7 billion ($5.2 billion), which it attributed to production disruptions and lower commodity prices.

Saracen shares dip despite profit growth

Saracen Mineral Holdings has announced a 17 per cent profit rise, but its shares closed nearly 10 per cent lower.

Sandfire profit falls nearly 19%

Sandfire Resources has reported a first-half profit fall of 18.8 per cent, which the gold and copper miner said was due to increased exploration and project costs.

Monadelphous profit slumps 18%

Monadelphous has posted a lower first-half profit but its share price has risen on the back of a positive outlook for the engineering firm.

Board Moves February 18, 2019

Our daily board moves wrap includes Warren Hallam, Jamie Skella, Andrew Jensen, and Philip Re.

Monadelphous, Clough win South Flank contracts

Monadelphous has secured a $108 million contract on BHP Group's South Flank project, while Clough has won its second contract on the same development. The two contracts will create 700 jobs at South Flank, the largest project underway in WA.

Imdex profit up 27%

Mining equipment supplier Imdex has announced a half-year profit of $13.5 million, compared with $10.6 million in the corresponding period last year.

Technology Metals raises $4.5m

Technology Metals Australia has secured $4.5 million via a share placement, with the funds set to advance the definitive feasibility study on its flagship Gabanintha vanadium project, located 40 kilometres south of Meekatharra.

Corporate finance deals Feb 11 to 15 2019

Nzuri Copper is pleased to announce that it has entered into a term sheet with its major shareholder, Tembo Capital Mining Fund LP, which sets out the commercial terms on which Tembo proposes to provi

Board Moves February 15, 2019

Alexander Molyneux has been appointed non-executive director of Comet Resources. Mr  Molyneux is an experienced metals and mining industry executive and financier.

Veris in $34m write-down

Veris says it will “likely” report a $34 million non-cash impairment charge to its goodwill, because of the poor trading performance of its surveying business.

Australis to raise $30.5m

Australis Oil & Gas is seeking to raise $30.5 million via a share placement, with the funds set progress its Tuscaloosa Marine Shale project in the US.



$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 tax agent deregistered

The Tax Practitioners Board (TFB) announced this morning that it had terminated the tax agent registration of Peter Moltoni, following an investigation into the Perth accountant’s ties to a shell company in the British Virgin Islands.

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.

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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.

Govt unveils marina, dust plans for Port Hedland

The state government is planning to restrict new residential developments in the west end of Port Hedland while also implementing a new regulatory framework for air quality in the town, which is located adjacent to large iron ore stockpiles.

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.