Business News

Magmatic to raise $5m

Magmatic Resources has secured commitments to raise $5 million from a share placement to explore its tenements in the East Lachlan gold-copper province in NSW.

Board Moves February 11, 2020

Matt Callahan has re-joined the board of Botanix Pharmaceuticals as an executive director following the decision by Robert Towner to step down as non-executive director.

Cut to TAFE fees boosts enrolments

Half price TAFE fees have led to a 20 per cent increase in student enrolments this year, particularly in engineering, cyber security and early childhood courses.

Horizon Power fined $40,000

Electricity provider Horizon Power has been fined $40,000 for incorrect work in Kununurra, causing a fire and telecommunications equipment at various properties to become potentially unsafe.

PSC acquires safety consultancy

PSC Insurance Group has purchased Perth-based Ultimate Safety Solutions Australia (USSA) and the majority of shares in Eden Software, which owns USSA’s SafeX technology, for an upfront payment of $700,000.

AVL receives $1.25m grant

Australian Vanadium has received a $1.25 million grant from the federal government to find ways to improve vanadium production.

Corporate finance deals Feb 3 to 9 2019

Alicanto Minerals has exercised its option to acquire Zaffer Australian which owns the Oxberg and Naverberg Volcanogenic Massive Sulphide Projects within the highly endowed Cu-Au-Zn-Pb-Ag Bergslagen M

Board Moves February 7, 2020

Bronwyn Barnes will transition as non-executive chair of Indiana Resources to executive chair, in order to focus on leading activities to protect the rights of shareholders in the current dispute with

Mackerel to operate Karijini retreat

Mackerel Islands will begin managing Karijini Eco Retreat as of next month, with the Pilbara-based operator taking over operations of the Gumala Enterprises-owned facility.

Appointments February 7, 2020

Our weekly appointments wrap includes Paul Vogel, Steve Rowe, Grant Bowen, Kaylene Gulich, Robert Kennedy, Rob Cossart, Tym Duncanson, Robert Mosig, Murray Criddle, Paul Catalano, Wayne Scheggia, Gary Morgan, Bob Kucera, Richard Gregson, Jane Chiang, and Joe Lamhut.

Board Moves February 6, 2020

Our board moves wrap includes Michelle Prater, Howard Golden, Steven Michael, Richard Homsany, Nathan McMahon, Michael Jefferies, and Wayne Zekulich.

AMP fined $5.2m

AMP has been ordered to pay a $5.2 million penalty after the Federal Court found the bank had failed to take reasonable steps to ensure its financial planners complied with the best interests duty.

Board Moves February 5, 2020

Our board moves wrap includes Andrew Penkethman, Katina Law, Tim Edwards, David Straface, Jordan Luckett, Justin Barton, and Greg Cunnold.

Tech stocks to raise $7.5m

Biotech company Zelira Therapeutics has received commitments to raise around $4.6 million from a share placement, while is planning an underwritten $2.9 million rights issue.

Board Moves February 4, 2020

Richard Homsany has joined the board of Brookside Energy as a non-executive director.

Clough wins aluminium contract

Perth-based engineering group Clough has secured a design and construction contract with ASX-listed Australian Bauxite for an aluminium fluoride production plant in NSW.

Corporate finance deals Jan 27 to 31 2020

A summary of the smaller deals from last week, which may not have been included in our daily news coverage.

Board Moves February 3, 2020

Our board moves wrap includes Robin Longley, Michelle Li, David Brown, Brenda Berlin, Tim Allison, Evan Cross, Andrew Steers, Michael Hendriks, Wayne Bramwell, and Patrick Corr.

Primero wins $100m in contracts

Primero Group has increased its order book to $195 million for the 2020 financial year after securing $100 million worth of engineering and construction contracts with Rio Tinto and Fortescue Metals Group.

Board Moves January 28-31, 2020

Our board moves wrap includes Alastair Clayton, Kane Marshall, Kinga Doris, Peter Tazewell, and Rebecca ​Stringer-Krein.

WA regional roads to get $17.5m in upgrades

Seven regional roads in Western Australia, including Great Eastern Highway and Indian Ocean Drive, will receive $17.5 million worth of upgrades this financial year in efforts to improve safety and prevent run-off crashes.

Insolvency appointments January 11 to January 30 2019

There have been 18 insolvency appointments to Western-Australian-incorporated companies since January 11.

Appointments January 31, 2019

Our weekly appointments wrap includes Mark McCrory, Neil Siford, Justine Lea, Ian Shepherd and Jane Cutler.

HASSELL to develop Burswood Park master plan

Design agency HASSELL has been selected to develop a master plan for the 56-hectare Burswood Park on the Swan River foreshore.

Saracen sells Red 5 stake for $39m

Saracen Mineral Holdings has sold its 10.5 per cent interest in Red 5 for $39 million, completed through a book build process at 30 cents per share prior to the ASX market open today.

Perkins wins $18m bushfire centre contract

Construction has commenced on the Bushfire Centre of Excellence based at Nambeelup near Mandurah, with Perkins Builders contracted to deliver the site’s $18 million build.

City of Perth to hold elections in October

The City of Perth will hold elections on October 17, Local Government Minister David Templeman announced today, following the council’s dissolution.

Lotterywest and Healthway donate $2.1m to community programs

United Way WA, Barking Gecko Theatre and Co3 Australia are among the beneficiaries of $2.1 million of donations from Healthway and Lotterywest to aid companies in executing public health and wellbeing programs.

Corporate finance deals Jan 20 to 26 2020

A summary of the smaller deals from last week, which did not get included in our daily news coverage.

Curtin receives $580k ARC grant

Curtin University has received a $580,000 federal grant to undertake research and development of new methods for storing, producing and exporting green hydrogen.

Board Moves January 23, 2020

Our board moves wrap includes Allan Cripps, Darryl Edwards, Trevor Eton, Jason Brewer, Frank Knezovic, Stefan White, Cameron Williams, Bernard Aylward, and Sheena Eckhof.



COVID-19 daily wrap: WA to ban regional travel

Mark McGowan says regional WA travel restrictions will soon be announced, foreshadows beach closures. Optus Stadium converted to emergency headquarters for WA police. WA's confirmed COVID-19 cases grew by 35 to 175.

COVID-19 daily wrap: WA closer to lockdown

WA's confirmed COVID-19 cases jumped by 20 overnight to 140. Premier Mark McGowan warned not enough people were adhering to social distancing rules. WA will go into border lockdown tomorrow while cafes, restaurants and bars were restricted to takeaway services only at 12pm today.

COVID-19 daily wrap: First community transmission in WA

Roger Cook confirms community transmission in WA. Prime Minister Scott Morrison has imposed a travel ban on all non-residents. Confirmed COVID-19 cases in Australia has reached 514.

$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.

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Austal wins more maintenance work with US Navy

Henderson-based shipbuilder Austal has won a $US12 million ($A15.6 million) contract to provide maintenance work on a littoral combat ship it is currently building for the US Navy.

Carnarvon surges on gas test results

Shares in local oil and gas company Carnarvon Petroleum have surged on better than expected results at its Roc-2 well test offshore Port Hedland.

World's second-best hotel in Perth's CBD

Perth’s COMO the Treasury Hotel has been named the second best hotel in the world by travel publisher Conde Nast.

Gold Road project to cost $507m

Gold Road Resources has released its feasibility study on the Gruyere gold project near Laverton, which has detailed a $52 million increase in capital costs and a longer mine life.