Mining

Iron ore miner Gindalbie Metals has extended its finance facility for its Karara magnetite project in the Mid West by three years and an additional $US400 million ($428 million).

Oil and gas dealmaker Peter Allchurch has teamed up with fellow Aurora Oil & Gas founder John Kenny, and Houston-based geologist Neville Henry, to list US-focused shale oil hopeful Winchester Energy.

The managing director of BP's Kwinana oil refinery, Desmond Gillen, says the global energy giant still has no plans to shut down the facility.

Subiaco-based explorer TNG has taken the next step towards formal agreements with South Korean steel giant POSCO over its Mount Peake vanadium project by signing a letter of intent with Global-Pacific Partners.

West Perth-based miner Metals X has reported a 332 per cent full-year profit increase to $37.4 million, alongside a 247 per cent surge in revenue to $238.6 million.

Southern Cross Electrical Engineering has reported a $9.6 million slump in full-year profit to $7.7 million on the back of a 21 per cent fall in revenue to $218.2 million.

Global Construction Services says its 2014 financial year earnings were hit by delays in major projects in the Perth CBD moving from approval to construction and a slowdown in resources-sector demand in the Pilbara, leading to a near-50 per cent fall in net profit.

FEATURE: Having gained notoriety in the 1996 movie Jerry Maguire, the phrase ‘show me the money’ will be heard often, and loudly, in business in Western Australia in coming years as capital inflows become capital outflows and funds become harder-than-ever to raise.

Exploration firm Energia Minerals has reached an agreement with Euroz Securities to take an $8 million funding package to help fast-track development of its Gorno zinc project near Bergamo in north Italy.