Perth-based Legend Mining has entered an agreement for the $17.5 million sale of its 90 per cent share in the Ngovayang iron ore project, in the Republic of Cameroon to Indian company Jindal Steel and Power.
iiNet managing director Michael Malone will hand over control to chief financial officer David Buckingham for a three to six month period while he takes a break from duties, he announced at the company’s annual general meeting today.
The Australian Securities and Investments Commission has permanently banned a former broker from engaging in any financial services activities, following her jailing for defrauding 24 investors of more than $4 million.
Gold miner Silver Lake Resources has said it is not in a position to pay dividends, with volatile gold prices and the state government’s minerals royalty review remaining as threats to its balance sheet.
Octanex and Perth's Peak Oil and Gas are working towards a merger, with Melbourne-based Octanex underwriting a rights issue for of $1.94 million that will go towards working capital for Peak prior to the implementation of the deal.