Business News

Pilgangoora sales limited on construction delays

Shares in Pilbara Minerals have fallen up to 10 per cent today after June quarter sales from its Pilgangoora project are expected to be lower than originally anticipated, due to construction delays by its offtake partners.

Prospect raises $5.2m

Prospect Resources has raised $5.2 million via a share placement and share options exercise, with the funds raised to be utilised for general working capital.

Contracts totalling $50m for two local firms

AusGroup and Southern Cross Electrical Engineering have each announced several contract wins, each worth a combined figure of around $25 million.

Board Moves June 14, 2019

Our daily board moves wrap includes Sonu Cheema, Malcolm James, Craig Barnes, John Blower, Jude Turton, Jeffrey Williams, Ashok Parekh, Peter Hunt, Peter Bilbe, Jonathan Price, Peter Rozenauers, Bianca Taveira, Stephen Hewitt-Dutton, Shannon Green, and Steve Formica.

ASIC cancels Macro broker’s licence

The Australian Securities and Investments Commission has cancelled the credit licence of mortgage broker Rochelle Anne Weinert, who was involved with the ill-fated Macro Group.

Tasman shares surge on Fortescue deal

Fortescue Metals Group has signed a conditional farm-in and joint venture agreement with Perth-based Tasman Resources for an exploration project in South Australia.

Regulatory changes to support WA sheep farmers

The state government has announced new regulations to help boost lamb exports, which hit a record $306 million in 2018.

ASG awarded $9m in contracts

The Department of Education has awarded two contracts worth $7.2 million and $1.9 million to Perth-based IT company ASG Group for the ongoing use of its Oracle technologies.

Board Moves June 13, 2019

Our daily board moves wrap includes John Palermo, Mary Hackett, Nick Cernotta, John Ciganek, Anna Sudlow, Craig Barnes, Yves Ilunga, and Joas Kabete.

Appointments June 14, 2019

Our weekly appointments wrap includes John Barrington, Timothy Marney, Fiona Harris, Lee-Ann Kirkham, Chris Blyth, Sabina Shugg, Mark Hewitt and Chris Slater.

Board Moves June 12, 2019

Our daily board moves wrap includes Andrew Tsang, Sue Murphy, Paul Ching, Jackie Lee, Bernard Olivier, Cobus van Wyk, Evan Kirby, Christiaan Jordaan, and Brad Mytton.

Macmahon to renegotiate Telfer contract

Macmahon Holdings has flagged the possibility of a $25 million to $35 million provision against its contract at the Telfer gold project amid ongoing negotiations with the project’s owner Newcrest Mining.

Velrada wins $3.2m contract

Perth-based ICT company Velrada is on track to hit $40 million in annual revenue after winning a multi-year contract in Victoria with Club Assist, the world’s largest mobile automotive battery retailer.

Aust Mines to raise up to $10m

Australian Mines has launched an underwritten share purchase plan, with the funds raised to advance its Sconi project.

ASIC takes on RM Capital

The Australian Securities and Investment Commission has begun civil proceedings against Perth-based RM Capital, alleging that an authorised representative for the firm was engaged in conflicted remuneration.

Emeco flags significant earnings rise

Emeco Holdings expects its earnings for this financial year to rise by nearly 40 per cent compared with the prior corresponding period.

McGowan announces nation’s first automation courses

Premier Mark McGowan announced this morning that South Metropolitan TAFE will begin offering automation courses from semester two, 2019, the first of such nationally recognised qualifications available in Australia.

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.

Insolvency appointments May 29 to June 11 2019

FirmAppointee/SolicitorRoleCompany NamePublished DateCor CordisClifford Stuart RockeliquidatorAll Earth Pty Ltd11/06/2019RSMNeil Raymond CribbliquidatorBurns & Baker Accountants Pty Ltd11/06/

Board Moves June 11, 2019

Dr Chia-Tai Chiang has resigned as non-executive director of Black Star Petroleum. Frank Knezovic has been appointed an alternate director for Chris Zielinski at Global Vanadium.

Big lithium gains as financing improves for explorers

Financing inflows for ASX-listed juniors and small cap explorers recovered in the March quarter, with lithium companies among the biggest beneficiaries, according to the latest research from BDO.

Woodside cuts production forecast

Woodside Petroleum has forecast its 2019 output will be at the lower end of its guidance of 88 million to 94 million barrels of oil equivalent, as a result of maintenance issues at its Pluto liquefied natural gas plant.

WA crop area to be lowest in years

Heavy rainfall over the past few days will be good news for WA’s farmers; however, most have already cut back their expected cropping area due to dry weather conditions in recent months.

Rio, FMG support indigenous children initiatives

Rio Tinto has backed a STEM initative in the Pilbara, while Fortescue Metals Group has thrown its support behind Ricky Grace's Girls Academy.

WA Maritime Museum wins Freo award

The WA Maritime Museum, The Raw Kitchen, and small bar Percy Flint were among the winners at the Fremantle Chamber of Commerce's annual awards night this past Friday, in a competition described by judges as one of the most tightly fought in years.

Perth business wins global tech award

Perth-based Illuminance Solutions has claimed a global technology award, winning a Microsoft 2019 partner of the year award.

Board Moves June 7, 2019

Our daily board moves wrap includes Neil Meadows, Douglas Loh, Mark Chamberlain, Suraj Sanghani, Craig Smith, Campbell McKenzie, Catherine Grant-Edwards, Melissa Chapman, Daniel Noonan, and Geoffrey Laing.

Transit Clothing to close its doors

The administrators of Perth-based Transit Clothing have announced that the business will close and cease trading at all remaining store locations within the coming week.

Parkd co-founder quits as MD

Parkd co-founder Peter McUtchen is stepping down as managing director and will be replaced by the company’s chief financial officer.

PolarX to raise $4.3m

PolarX will undertake a $4.3 million rights issue, less than a week after it secured the same amount via an earn-in investment from Lundin Mining.

Board Moves June 6, 2019

Hun Seng Tan has retired as non-executive director of GBM Resources, having served on the board for over 4 years.



$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.