Fraser Beattie

Iron ore miner Mount Gibson Iron has booked another half-year loss, but it’s a substantial improvement on its performance in the previous year, despite recording a $23.6 million impairment.

Local manufacturer Matrix Composites & Engineering lost a fifth of its value on the ASX today after announcing it had received a cancellation notice for two contracts worth a combined $US21.8 million ($A30.5 million).

Metals X has once again stepped up its pursuit of Aditya Birla Minerals, announcing today that its off-market $68 million takeover offer is now unconditional, with a quarter of Aditya shareholders already accepting the offer.

Engineering company Monadelphous Group has posted sharp falls in profit and revenue for the six months to December, but says there is a growing pipeline of work in its maintenance services division.

Marine services provider Bhagwan Marine has won a contract to provide its services to American company Foss Teras Marine on an oil and gas construction project in Russia.

Subiaco-based gold miner Perseus Mining has posted a fall in half-year profit to $12 million on the back of the weaker Australian dollar, but grew revenue by 5 per cent.

Shares in Perth-based explorer Apollo Consolidated have surged on news it has struck an agreement with gold miner Newcrest Mining for its Seguela project in West Africa.

Potash explorer Elemental Minerals has received a $123.1 million cash takeover offer from a Hong Kong investment group, but the company was quick to list a number of reasons why the proposal wouldn’t succeed.

Energy giant Woodside Petroleum's decision to search for gas off the coast of Myanmar has proved fruitful so far, with the company announcing its second discovery this year.