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Business News

Wide Open lists after $5m IPO

Williams-based Wide Open Agriculture has begun trading on the ASX today after the company raised $5 million via an initial public offer.

Former Perth broker handed prison sentence

A former Perth finance broker has been handed a 21-month prison sentence on loan fraud charges following an investigation by the corporate watchdog.

Gold producers post strong WA results

AngloGold Ashanti and Dacian Gold have reported positive updates on their Western Australian operations.

DRA expands with G&S buy

South African firm DRA has expanded its Australian presence with the purchase of G&S Engineering Services from diversified infrastructure company Calibre Group.

Family Zone secures $5m investment

Tech company Family Zone Cyber Safety has raised $5 million via an equity investment from UK-based advisory firm Tellus Matrix.

Board Moves July 6, 2018

Sir Peter Westmacott has been appointed non-executive director of Family Zone Cyber Safety. Sir Peter is a former British ambassador to the USA, France and Turkey.

Insolvency appointments Jun 19 to Jul 5 2018

FirmAppointee/SolicitorRoleCompany NamePublished DateWorrells Solvency & Forensic AccountantsMervyn Jonathan KitayadministratorKittochside Pharmacy Pty Ltd T/A Port Coogee Discount Drug Store

People Moves July 6, 2018

Dean joins Corrs Chambers Westgarth partnership

IRP appointed to WALGA recruitment panel

Belmont-based Industrial Recruitment Partners, Mills Resources and LNG Recruitment are among a panel of companies selected as preferred suppliers for recruitment services by the WA Local Government Association.

Board Moves July 5, 2018

Fenix Dong has been appointed executive director of Frontier Resources. Mr  Dong has experience with mergers and acquisition, investment banking and management in the mining and resources sector.

Cedar Woods tips strong results

National developer Cedar Woods Properties says it is expecting net profit of about $40 million for the 2018 financial year and is buoyant about the outlook for 2019.

Board Moves July 4, 2018

Leonard Math has resigned as company secretary and chief financial officer of Gulf Manganese Corporation. Mr  Math has extensive experience in public company responsibilities including extensive liais

Board Moves July 3, 2018

Dickie Dique has been appointed non-executive director at Decmil Group.

Agrimin raises $10m

Potash explorer Agrimin has boosted its coffers with a $10 million capital raising to progress the definitive feasibility study being undertaken at its Mackay project in Western Australia.

Board Moves July 2, 2018

Rubini Ventouras has resigned as company secretary and general counsel of BCI Minerals. The company has appointed Susan Hunter as company secretary.

Car sales down in June

The state’s automotive industry suffered its first monthly decline of new vehicle sales in the past six months in June, according to the latest data from the Federal Chamber of Automotive Industries.

MZI flags delays in upgrades

Mineral sands miner MZI Resources has announced the completion of upgrades at its Keysbrook operation, while also outlining delays in the project and attempts to seek waivers from some conditions of an $80 million debt funding package.

WA contractors secure work

Three local companies have secured work across the state, with Kerman Contracting, Adco Constructions and WestStar Industrial all announcing recent contract wins.

Vango raises $5m

Sydney-based Vango Mining has announced a $5.1 million capital raising to fund exploration at its Plutonic Dome gold project in Western Australia's Mid West.

Pact locks in $61m Subi school contract

PACT Construction has secured a $60.8 million contract to complete the main works at the new Inner City College at Kitchener Park in Subiaco.

WA shares in $7m mining tech funding

ASX-listed Imdex, software company Manufacturing Intelligence and Emapper are among five local companies in the mining technology sector that will share in $7.1 million of federal government funding announced today in Perth.

Swick signs first commercial technology agreement

Swick Mining Services has announced the first commercial agreement for use of its Orexplore mineral scanning technology, which has been developed over the past seven years.

Construction tenders July 2 2018

TendererProjectCloseSubmissionsADCO ConstructionsMandurah - Bunnings basebuild conversionJul 4estperth@adcoconstruct.com.auADCO ConstructionsInglewood - AldiJul 24estperth@adcoconstruct.com.auBadg

Rift Valley raises $5.5m

Rift Valley Resources has tapped investors for $5.5 million as the company continues exploration work at its Longonjo rare earths project in Angola.

Pacific flags $15m impairments

Pacific Energy says it will meet its underlying earnings guidance for the 2018 financial year, but has flagged impairments totalling $14.8 million.

Mod upgrades mineral resource

Perth-based MOD Resources has announced a significant upgrade to the mineral resource at its T3 copper project in Botswana.

Hopman Cup under threat

The announcement of a new team tournament set to kick off in 2020 in Australia has called into question the future of Perth’s international tennis event, the Hopman Cup.

Capricorn ups Pearl stake with $2m purchase

Automotive cooperative Capricorn Society has increased its stake in Fremantle-based environmental technology company Pearl Global (formerly Citation Resources) to 6.1 per cent after investing $1.8 million.

Panel dismisses FMG application

The Takeovers Panel has dismissed an application from Fortescue Metals Group questioning the veracity of Hancock Prospecting’s $390 million bid for Atlas Iron.

AHG logistics sale falls through

Automotive Holdings Group has confirmed the proposed $400 million sale of its refrigerated logistics business has fallen through after Chinese conglomerate HNA Group called off the deal due to liquidity issues and approval delays.

Rio commences $50m upgrade

Rio Tinto has commenced a $50 million replacement of the iron ore stackers at its Paraburdoo mine, with local engineers and contractors set to benefit from the project.

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$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.