Jessica joined Business News in August 2019 after completing an internship at Solstice Media-run online publication The Lead, based in Adelaide. She covers a variety of topics at Business News for both online and print, including junior mining, sport, health, and technology. Jessica completed a Bachelor of Media at the University of Adelaide in 2019, with a major in journalism, and a Bachelor of Commerce at Curtin University in 2014 (marketing and advertising). She is a former paralegal with national firm Galilee Solicitors.
Salt Lake Potash has secured further funding for the development of its Lake Way project in Western Australia after receiving commitments to raise $23.5 million from a share placement, along with a $22 million debt extension from Taurus Funds Management.
Western Australia recorded the highest mortgage delinquency rate in the year to May of 3.38 per cent, while the Australian average was 1.94 per cent, according to a report from Moody's Investors Service.
Pioneer Credit has named US investment group Carlyle as preferred bidder to acquire the business, at a price of $1.82 per share, a large discount to the company’s latest closing price of $2.46 per share.
Panoramic Resources has formally rejected the takeover bid from Independence Group and confirmed it is seeking to raise $31 million to fund its operations, including the underperforming Savannah nickel mine.
Bio-therapeutic company Orthocell has received commitments to raise $13 million from a share placement and up to a further $5 million from a share purchase plan, primarily to accelerate the commercialisation of its CelGro flagship product.
Rio Tinto has approved a $US1.5 billion investment to continue production at its Kennecott copper mine in the US, while also announcing it will limit operations at one of its minerals projects in South Africa, following an attack on two of its employees.
Junior explorer Ausgold has received commitments to raise $2.4 million through a share placement and up to $1.2 million via a share purchase plan to fast-track exploration at the company’s Katanning gold project in Western Australia.
The housing recovery has finally reached Perth, with dwelling values edging 0.4 per cent higher in November to record the city’s first month-on-month rise since early last year, according to the latest report from CoreLogic.
Perenti Global will exit from two Burkina Faso operations following an ambush on its employees last month, but will continue operating three other mines in the country. The contractor also announced today several new contracts in Australia and Africa.
Uranium explorer Peninsula Energy is planning a $9.1 million capital raising to fund costs associated with its mines in the US, while De Grey Mining is planning to raise $5 million to fund exploration activities at its Mallina gold project, near Port Hedland.