Business News

Ahead of a looming April deadline for a $US212 million convertible bond repayment, uranium miner Paladin Energy has announced a proposal to restructure its balance sheet by converting some debt into equity, extending the maturity date of the remaining amount, and undertaking a $US75 million capital raising.

Toro Energy has joined Vimy Resources in gaining state government approval for its uranium project expansion plans, however Environment Minister Albert Jacob is yet to make a decision on the more contentious Yeelirrie uranium mine proposal put forward by Cameco.

Lithium play Neometals has joined the share register of Sydney-based Estrella Resources, at the same time that company completed its acquisition of Mt Edwards Lithium, which has tenements in Western Australia.

1-Page founder Joanna Riley has stepped down as chief executive to focus on the company’s strategy and business development. Ms  Riley will become president and executive director.

Michael Bourne has resigned as executive director at ATC Alloys. Atlas Iron has appointed general counsel Bronwyn Kerr as joint company secretary. 

Quest Minerals has appointed David Palumbo joint company secretary.

One of 1-Page’s substantial shareholders, a subsidiary of Nedlands-based financial services firm Merchant Group, has called for the removal of the majority of the tech company’s board and a new direction for the business, after a year of poor performance on the share market.

Unemployment in Western Australia is now at its highest since 2002 with new figures today revealing a 0.4 percentage point increase to 6.9 per cent in November.

Clough has reaffirmed its commitment to the Western Force by taking up prime real estate on the Perth rugby team’s jersey for the next three seasons.