Kerry Stokes-backed Beach Energy has reported a drop of more than 10 per cent in its estimated Perth Basin gas reserves after undertaking a drilling campaign at Waitsia.
Our weekly appointments wrap includes Simona Chady, Anna Reece, Iain Grandage, Dan McAulley, Donna Nelson, Sandra Eades, Mike Nelson, Paul Laybourne, Lance Malone and Mark Ritter.
Chris Ellison's Mineral Resources has said its 19.2 per cent stake in Warrego Energy is “strategic”, and claimed gas assets in the Perth Basin are now overpriced.
Chris Ellison-led Mineral Resources has increased its stake in Warrego Energy to 19.2 per cent boosting its capacity to determine the final outcome of the takeover battle.
Joint venture partners Strike Energy and Talon Energy's Walyering gas field development in the Perth Basin is one step closer to becoming operational after receiving its production license.
Warrego Energy bidders Hancock Prospecting and Strike Energy have traded blows over the takeover battle for the Perth Basin gas play after Strike's off-market bid opened.
The Norwest Energy board has recommended its shareholders reject Mineral Resources' takeover offer, claiming the $403 million bid was “opportunistically timed”.
UPDATED: Warrego Energy has taken the unusual step of publicly criticising the two bidders for the company while Mineral Resources has revealed a 16 per cent stake.
Gina Rinehart's Hancock Prospecting has launched what is effectively the seventh takeover bid for Warrego Energy in the space of two months, jacking up its offer price by 29 per cent.
Shares in Warrego Energy jumped late today on heavy trading with Chris Ellison's Mineral Resources believed to have joined the takeover battle for the Perth Basin gas play.
Senex Energy's $1 billion Atlas gas development has moved to the next stage of approvals as the company reconsiders expansion plans following major government intervention in gas markets.
Jordan Murray covers the latest from Hancock Prospecting's bid for Warrego Energy and fresh data from the Australian Bureau of Statistics and CoreLogic.
Gina Rinehart's Hancock Prospecting has lifted its stake in Perth Basin gas play Warrego Energy to 25.9 per cent as a stand-off looms with rival bidder Strike Energy.
Hancock Energy has revealed a cohort of Warrego shareholders pledging to support Gina Rinehart's $342 million cash offer for the business, hitting back at a scrip bid from Strike Energy.
The board of ASX-listed oil and gas company Norwest Energy will wait until the new year to cast its verdict on Chris Ellison's offer for the business amid fierce competition for Perth Basin assets.
John Poynton-chaired Strike Energy has lobbed another scrip takeover proposal for joint venture partner Warrego Energy, countering a $342 million cash offer from Hancock Energy currently on the table.
The board is set for Gina Rinehart's Hancock Energy to take control of Perth Basin desirable Warrego Energy after Kerry Stokes-backed Beach Energy declined to match a $342 million cash offer.
Strike Energy has muscled back in amid the fight for ownership of its joint venture partner Warrego, lifting its stake in the target to 19.9 per cent to become its biggest shareholder.
White Cliff Minerals has polished off a high-resolution magnetic and radiometric survey at its Yinnetharra lithium and rare earths project about 100km northeast of Gascoyne Junction in WA. The operation is within earshot of several high-profile plays including Hastings Technology Metals' world-class Yangibana rare earths acreage and Arrow Minerals' emerging Reid Well prospect where rock chip sampling returned grades of up to 3.77 per cent lithium oxide.
Hancock Prospecting will take up a 10 per cent stake in Arafura Rare Earths via the ASX lister's latest capital raising and another show of diversity for the Rinehart investment wheelhouse.
Warrego Energy shares are continuing skyward as investors wait to see whether Stokes-backed Beach Energy will match rival bidder Gina Rinehart's $350 million cash offer for the Perth Basin developer.
Gina Rinehart's Hancock Prospecting has fallen short of last year's mega profit, posting a $5.8 billion bottom line for 2022 as it flags new growth and investment plans.
Gina Rinehart's Hancock Prospecting could help solve a looming WA gas shortage, pledging to boost Perth Basin investment as it becomes the third company chasing Warrego Energy.
Gina Rinehart has continued to reap big gains from the iron ore sector, with Roy Hill Holdings declaring another large dividend despite a fall in annual profit.
Hancock Prospecting subsidiary Atlas Iron has paid a maiden dividend of $225 million despite a big fall in annual profit and plans to invest $700 million in new iron ore projects.
Behemoths of Western Australia's resources sector will tip $750 million into a new community investment initiative to bankroll a cohort of legacy projects in the state.
A $6 billion plan to expand the Roy Hill iron ore operation to 100mtpa will be put at risk by the federal government's proposed IR changes, Hancock Prospecting has warned.
St George Mining has moved quickly to top up its landholding at its Mt Alexander project near Leonora following the discovery of lithium mineralisation during its maiden drill program adding an exploration licence to its portfolio and lodging an application for a prospecting licence. Both tenements are neighbouring St George's Jailbreak prospect where the company currently has an aggressive drilling program underway.
New data reveals just how much WA businesses contributed to the federal treasury during the pandemic, with 10 corporates paying $27.5 billion in the year to June 2021.
Rio Tinto and Wright Prospecting have paved the way for development of a major new, high-grade iron ore mine that will be pivotal to the future of both companies.
After further field work, mineral explorer St George Mining believes it has significantly expanded the lithium potential of its Mt Alexander nickel — and now lithium — project 95km west of Leonora in WA. Since first announcing it was on the lithium trail in early September, the explorer has identified an increasing number of pegmatite outcrops in its field mapping efforts across a 15km zone of pegmatite dykes at its project.
Resources billionaire Gina Rinehart has been named Australia's wealthiest person for a third consecutive year, followed closely by fellow Western Australian and iron ore magnate Andrew Forrest.
