Business News

AusCann higher on ASX debut

Medical cannabis company AusCann Group Holdings has wrapped up its first day of trading on the ASX after completing a reverse takeover of TW Holdings.

Worner cleared as ASA calls for better communication

The Australian Shareholders’ Association has called for companies to do a better job of communicating with their shareholders, following the resignation of a Seven West Media director on the eve of today's report on misconduct allegations against chief executive Tim Worner.

Board Moves February 2, 2017

Julius Matthys has been appointed non-executive chair of Doray Minerals. Duncan Saville has been appointed alternate director of Homeloans.

Primary raises funds for gold projects

Perth-based Primary Gold has tapped investors for $8.5 million to fund ongoing work at its Coolgardie and Mount Bundy projects in the Goldfields.

R-Group wins work with Vic govt

Perth-based telco and managed services provider R Group International will share in an estimated $126 million worth of annual work, after securing a place on the list of providers for the Victorian state government.

ECO Environmental buys Singapore business

Perth-based ECO Environmental has expanded its operations to Singapore through the acquisition of field services assets from US company Pentair.

Techboard ranks MiPlan in top spot

MiPlan has been named Techboard’s highest trending startup in January, after the WA-based mine production management solutions company announced its acquisition by US-based Hexagon Mining for an undisclosed amount, as reported by Business News.

Doray picks Matthys as chairman

Former BHP Billiton executive Julius Matthys has been appointed chairman of gold miner Doray Minerals, replacing Peter Lester who retired last month to focus on his other business interests.

Board Moves February 1, 2017

Global Gold Holdings has announced the appointments of Nicholas Ong as non-executive director and Daniel Smith as company secretary.  Leonard Math has resigned as non-executive director and company se

Businesses, unions dig deep in election year

Western Australian businesses contributed nearly $2 million to the two major political parties in the 2016 financial year, according to recently released disclosures, while trade unions gave about $1.1 million directly to the local branch of the Labor Party.

Vlahov resurfaces as iCollege boss

Six months after ending a short stint as the head of thermal energy company Enerji, former Perth Wildcats owner Andrew Vlahov has been named chief executive of sporting-focused online education provider iCollege.

Expansion under way at Busselton airport

Work has started on a $70 million expansion of the Busselton-Margaret River regional airport, after Ertech and Arup were awarded contracts for development of the project.

Board Moves January 31, 2017

Ephraim Resources has announced the appointment of Evan Cross as non-executive director, and the resignation of Yu Won Loi from the board.

Iluka swings axe on 90 jobs, flags $230m impairment

Iluka Resources boss Tom O’Leary says the company will swing the axe on 90 jobs after revealing a $201 million impairment and flagging a net loss of up to $230 million for 2016.

Insolvency appointments Jan 18 2017 to Jan 30 2017

CompanyAppointee/SolicitorRoleCompany NamePublished DateAuxilium PartnersRobert Allan JacobsadministratorHaigh & Hastings Pty Ltd27/01/2017Piggott PartnersMathieu TributadministratorN & F

Aldi flags 14 more WA stores in 2017

German supermarkets giant Aldi says it will open 14 more stores in Western Australia this year, after the debut of 19 of its outlets in Western Australia in 2016.

Board Moves and People Moves January 30, 2017

Emu NL has announced the appointment of Damien Kelly as company secretary, in lieu of Dennis Wilkins. Giles appointed to Hancock's pastoral business

National Storage makes $30m Perth investment

National Storage has spent $30 million in Perth, buying the freehold interests of two of its facilities in Rockingham and Guildford, acquiring two industrial plots, and renegotiating a lease on a Subi

Birimian stakeholders call for board spill

Shareholders owning a combined 6.5 per cent in Birimian have called for the replacement of two directors on the lithium explorer’s board, a week after a $107 million cash offer for the Perth-based company's flagship project fell through.

WA parliament prorogued

The Western Australian parliament has finished all business until after the election on March 11, after it was prorogued by WA governor Kerry Sanderson.

People Moves January 27, 2017

Two new appointments at ECU

Perseus unable to recover lost production

Shares in Perseus Mining tumbled today after the Perth-based gold miner lowered its production guidance for the next six months, on the back of a temporary shutdown at its Edikan operation during the December quarter.

Macmahon rejects Cimic's $174m offer

Macmahon Holdings has criticised CIMIC Group’s proposed $174 million takeover offer, saying its preliminary view was that it does not represent fair value of the business, and has told its shareholders to take no action.

First Graphite to raise $3.5m

First Graphite has announced plans to raise $3.52 million from investors through the placement of 32 million shares at 11 cents each. Far East Capital acted as lead manager to the raising.

Board Moves January 25, 2017

Ferrum Crescent has announced the appointment of Laurence Read as non-executive director, following the resignation of  Klaus Borowski who has been non-executive director since the company's IPO.

Pacific wins power station contract with Westgold

Perth-based Pacific Energy has won a contract to build and operate a five-megawatt power station at a gold mine near Meekatharra for an undisclosed sum.

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.

Sandalwood refinery boost for Goldfields

A new sandalwood oil processing facility has been opened in the Goldfields.

Nickel sales up for Western Areas

Local miner Western Areas closed flat on the ASX despite posting an increase in cash on hand and nickel sales in the three months to December.

Sandfire to pay off $50m DeGrussa debt

Copper-gold miner Sandfire Resources says it plans to use its strong cash position to pay off what remains of a $380 million facility it took out for construction of its DeGrussa mine in 2011.

Emeco surges on solid quarter

Shares in Emeco Holdings surged after the mining equipment supplier posted a solid performance in the December quarter, with fleet utilisation numbers up and positive earnings results.



$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 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.

Gow questions builder's financial status

The building commissioner has put out a public warning against a local building company, saying its financial status warrants questioning.

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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.

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.

Site found for WA's first open-range zoo

The state government has locked in a location for Western Australia’s first open-range zoo, which is expected to cost up to $100 million to develop.