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Michael Hobbs

Magnetic to raise $5m in IPO for nickel exploration

West-Perth based Magnetic Resources NL has announced plans to raise $5 million in its initial public offer for exploration of the company's nickel tenements.

Allplant sale brings Macmahon first half profits up 120%

Contracting and services provider Macmahon Holdings Ltd has reported a record first-half after-tax profit of $25.8 million, up 120 per cent on the previous year, due largely to the sale of its Allplant hire business.

Carbine raises $3m in IPO for gold project acquisition

Subiaco-based gold explortion company Carbine Resources Ltd has announced plans to raise $3 million in its initial public offer to fund exploration and evaluation of the Red Dam gold project, 45km west of Kalgoorlie.

International Goldfields to raise $3m for gold development

Leederville-based International Goldfields Ltd has re-launched its $3 million share and options offer to invited investors, raising funds for the development of the company's Mt Ida gold project.

Artemis to raise $5m in IPO for gold exploration

Goldminer Artemis Resources Ltd has announced its prospectus which it hopes will allow the company to raise $5m to finance planned exploration programmes and investments directly and indirectly into the resource sector.

Telescope project moved

Mid West iron ore producers Murchison Metals and Midwest Corporation will be forced to change the route of their proposed railway project after the state government confirmed that the site for a $2 billion radio telescope has been changed.