Business News

Record production for Saracen

Saracen Mineral Holdings posted record quarterly gold production of 89,208 ounces for the March quarter, with costs below its previous guidance.

Board Moves April 16, 2019

Our daily board moves wrap includes David Quinlivan, Mark Wheatley, Keith Jones, Tony Brazier, Susan Hunter, Craig Readhead, Campbell Baird, Mark Davies, Winton Willesee, Erlyn Dale, Peter O'Connor, Simon Trevisan, Neale Fong, Fleur Hudson, and CongYan Xue.

Assetowl shares soar 225% on The Agency deal

Shares in the Simon Trevisan-chaired startup, Assetowl, more than doubled today, after it signed a trial agreement with The Agency Group Australia for its property management software.

Shell sells $420m Timor stake

Shell has sold its interest in the Greater Sunrise offshore fields to Timor Gap, the national oil company of Timor-Leste, for US$300 million ($420 million).

Altech raises $18m

Altech Chemicals has raised $18 million via a share placement, with the proceeds to primarily go towards the company’s high purity alumina (HPA) plant in Johor, Malaysia.

Board Moves April 15, 2019

Our daily board moves wrap includes Matthew Driscoll, Jay Stephenson, Michael Fry, Catherine Grant-Edwards, Peter Stickland, Dougal Ferguson, Mark McAuliffe, Michael Davy, Costa Tsesmelis, Greg Stamboulidis, Gianmarco Biagi, and Lorenzo Biagi.

Antipa completes $5.1m raising

Antipa Minerals has announced it completed a $5.1 million capital raising, with the funds set to further its exploration in the Paterson province of the Pilbara.

MinRes declares pricing for $975m debt raising

Mineral Resources has announced the pricing of its US$700 million ($975 million) worth of senior unsecured notes due in 2027 will pay a return at a rate of 8.125 per cent per annum.

Near-$2bn boost for WA infrastructure

The state government has launched a $1.52 billion major roads package as part of the 2019-20 state budget, and announced a $415 million funding boost for Metronet.

Board Moves April 12, 2019

Natalie Teo has replaced Jeremy Robinson as company secretary of Marindi Metals.

Gage Roads raises $8m for canning

Gage Roads Brewing Company has raised $8 million via a share placement, with the funds raised to go towards its new canned beer product strategy.

Strong growth for The Agency

Perth-based real estate agent The Agency Group Australia has recorded a bumper March quarter, including its second highest commission revenue for a quarter on record.

Nauti-Craft awarded for innovation

Dunsborough-based firm Nauti-Craft was last night presented with a prestigious award in London for its development of an innovative marine suspension system.

FIRB green lights $2.1bn Navitas takeover bid

The federal government's Foreign Investment Review Board (FIRB) has given the tick of approval to a private consortium’s proposed acquisition of global education provider Navitas.

Board Moves April 11, 2019

TV2U International has appointed Bret Silvey and Hannah Ward as non-executive directors.

Appointments April 12 2019

Our weekly appointments wrap includes Ben Devenish, David Lynch, Jeremy Calver, Frank Daly, Gaurav Jain, Tim Marney Caroline Goldie, Boyd Timler, Sharon Warburton, John Poynton, Kenneth Williams and Simon Stead.

Stavely to raise $4.2m

Copper and gold explorer Stavely Minerals has announced it is has raised $3.2 million via a share placement, and is looking to receive a further $1 million through a share purchase plan.

SRG wins $11.85m university contract

SRG Global has secured an $11.85 million contract for the University of Melbourne’s Lincoln Square project.

Jenni Hill to Supreme Court

Attorney General John Quigley has announced Clifford Chance partner Jenni Hill has been appointed to the Supreme Court of Western Australia and Justice John Vaughan to the Court of Appeal.

Tanarra Capital buys majority stake in INX Software

A majority shareholding in Perth-based INX Software has been bought by the private equity arm of Melbourne investor John Wylie’s Tanarra Capital.

Board Moves April 10, 2019

Ed Mason has been appointed a corporate advisor of Calima Energy. Mr  Mason has more than 20 years of experience working for global investment banks.

Flinders dumps delisting plans

Flinders Mines has abandoned its bid to delist from the ASX, following a battle with minority shareholders over the proposal.

Battery HQ for Curtin, $110m project build deal awarded

The federal government has allocated $25 million towards a battery industry research initiative to be headquartered at Curtin University, while the Bentley-based university today announced it had awarded the main construction contract for a $110 million development.

Valmec wins $15m of work

Valmec’s infrastructure and service divisions have won three new contracts with long-term repeat clients.

Insolvency appointments Mar 27 to Apr 9 2019

A total of 34 insolvencies were announced for WA-incorporated companies in the past fortnight

Spectrum raises $5m

Spectrum Metals has received firm commitments from investors to raise $5 million via a share place, with the funds set to go towards the company’s Penny West gold project in Western Australia's Mid West.

Board Moves April 9, 2019

Our daily board moves wrap includes Alistair McCall, Stefan Murphy, Greg Hall, Carol New, Neil Porter, Adrian Byass, Andrew Allan, Michael Malone, Di Fulton, Gerard Dyson, Peter Holton, and Gary Pennefather.

Oil Search signs deal with PNG on $18bn LNG project

Oil Search has signed an agreement with the Papua New Guinean government for the Papua LNG Project, enabling initial work to begin on the giant development.

Rottnest to receive $33m boost

The federal government has pledged $17.2 million in funding for Rottnest Island, while the state government also announced today it would inject $16.2 million into the holiday destination.

SRG wins $18m Super Pit contract

SRG Global has secured an $18 million contract with Kalgoorlie Consolidated Gold Mines, less than a week after it announced it won up to $115 million worth of drill-and-blast services contract extensions with Evolution Mining.

Board Moves April 8, 2019

Our daily board moves wrap includes Josh Puckridge, RV Venkatesh, Peter Hatfull, Brendon Morton, Simon Robertson, Anthony Hickey, Boyd Timler, Len Troncone, John Zee, and Darren Smith.



$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.