Contractor NRW Holdings has decided to back a proposed deed of company arrangement by the administrators to Gascoyne Resources after negotiating an increased upfront debt repayment of $7 million in cash.
The administrators of Gascoyne Resources have recommended creditors support the planned deed of company arrangement for the gold miner rather than an 11th hour alternative from China’s Hanking Gold Mining.
Engineering consultancy AIE is one of 273 Western Australian small business suppliers to have benefitted from BHP’s local buying program since 2017, with the mining giant spending $38 million in WA through the initiative.
Shares in Western Areas closed up 16 per cent today after the nickel producer released results from its first drill hole at the Sahara prospect, located at the company’s Gawler project in South Australia.
The resources sector has welcomed the federal government’s decision to invest a further $125 million into an exploration program led by Geoscience Australia, which has now been expanded to cover exploration across the country.
Strandline Resources has secured a major portion of capital costs for its Coburn mineral sands project, with the Northern Australia Infrastructure Facility (NAIF) to provide up to $150 million in funding.