News Articles for IGO

Eastern Goldfields has withdrawn its $6 million share subscription agreement proposal put forward to Windward Resources, following Independence Group's $20.5 million takeover bid lodged last week.

Independence Group has put forward a $20.5 million bid for emerging nickel play Windward Resources, competing against a previous deal put forward by Michael Fotios's Eastern Goldfields.

SPECIAL REPORT: A record high Australian dollar price in June has provided a tailwind for the state's gold sector, and 2017 is looking to be a similarly positive year.

SPECIAL REPORT: Some of Western Australia's biggest gold miners plan to boost their exploration spend in the coming year, with Saracen Mineral Holdings and Northern Star Resources among those committed to putting increasing amounts ‘into the ground'.

ANALYSIS: It has been a high-profile week for extremely private explorer Mark Creasy, with two major pieces of news that appear likely to add to his already significant wealth.

Diversified miner Independence Group has booked a $58.8 million net loss for the 2016 financial year, on the back of acquisition costs and lower commodity prices.

Legend Mining has sold its stake in gold and nickel miner Independence Group for $4 million, with the local explorer netting about $2.5 million profit from the sale.

Investor interest has swung strongly towards the resources sector this year, but opportunities remain for tech companies aiming to list on the ASX.

Gold's rising stocks and role in the post-boom recovery will make this year's Diggers & Dealers the most promising for many years.

Gold and nickel miner Independence Group has announced a $280 million capital raising to bolster its balance sheet, making it the largest raising by a Western Australian company for 2016.

Mark Bennett's gold hopeful, S2 Resources, has tapped investors for a $12.1 million capital raising to fund ongoing work at its Polar Bear project near Norseman.

Western Australian companies have outperformed the broader stock market over the six months to June 30, judging by the performance of Business News' BN30 index.

Senior mining figures Peter Bilbe and Anthony Kiernan have joined the boards of local companies Intermin Resources and Pilbara Minerals respectively.

Gold and base metals producer Metals X has been given an environmental tick for the Wingellina nickel project east of Warburton, although with prices close to their lowest level since the financial crisis a new development may be some way off yet.

Women are being appointed to ASX200 boards at a faster rate than ever, but a number of major Western Australian companies remain without any female representation on their boards.

Mark Bennett has left the board of Independence Group to focus his attention on his gold exploration company S2 Resources.

SPECIAL REPORT: There's no doubt the boom has come to an end, but plenty of opportunities and projects remain in play.

Taejin Kim has resigned as a non-executive director of Stargroup. Mr Kim had joined the board of Stargroup in 2015.

Lower gold production has contributed to a 16 per cent reduction in March quarter revenue for Independence Group compared with the same period last year, helping drive the company's share price down 11 per cent today.

A group of 30 Western Australian stocks selected by Business News has significantly outperformed the ASX200 in the March quarter, indicating stock investors are optimistic about the state's economic future.

ANALYSIS: It's not often that hyperbole merges with reality when it comes to resources, but WA's gold sector has just thrown conventional wisdom out the window.

Swick Mining Services has won two new contracts for work with Independence Group, while the local subsidiary of Queensland firm Hughes Drilling has also picked up more work.

Gold and nickel miner Independence Group has posted a first-half loss of $78 million on the back of impairments and the acquisition of Sirius Resources late last year.

It's likely more nickel operations will need to be closed before there's any improvement in prices for the steel-making commodity.

The state government has officially commissioned the $140 million Eastern Goldfields Pipeline, which will support the ongoing development of mining projects in the region and benefit operators of existing mines due to reduced costs

Soon-to-be renamed Malagasy Minerals has welcomed Regis Resources as a substantial shareholder as the company completes its acquisition of the Karlawinda gold project near Newman, while also announcing the appointment of local gold mining executives to its board.

Panoramic Resources and Mincor Resources have announced plans to put their last operating mines on care and maintenance in response to the depressed nickel market, with Panoramic cutting 50 jobs today with more to follow at both companies.

Gold and nickel miner Independence Group plans to make about 40 employees redundant after announcing it would cut exploration spending by $20 million in response to weak base metals prices.

SPECIAL REPORT: Local firms Azure Capital and Hartleys punched above their weight in 2015 in what was a lucrative year for a handful of top corporate advisers in WA. Click through to see which corporate advisers, lawyers and brokers managed 470 M&A and capital raising deals.

SPECIAL REPORT: One of the few positives in a tough year for business was the gold sector, and at the forefront was Northern Star Resources, under the leadership of Bill Beament.

SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state's best chief executives are unexpectedly low down.

Perth-based contractor Civmec has won a number of new contracts and additional work, worth a combined value of $65 million.

SPECIAL REPORT: For the second year running, the value of shares held by company directors in WA has fallen sharply, though some operators defied the trend.

Australian institutional investors are among the most demanding in the world when it comes to reporting of environmental, social and governance risks, according to a global report released today by EY.

Former Sirius Resources boss Mark Bennett's new gold company, S2 Resources, has made a mediocre debut on the ASX with shares closing at 17 cents.

Former Sirius Resources boss Mark Bennett and director Neil Warburton have joined the board of Independence Group, which acquired Sirius in a $1.8 billion takeover last month.

The recently appointed boss of BHP Billiton's Nickel West division has presented a rare positive message for the unloved business, saying there was “nervous excitement” after a series of internal changes.

Former Sirius Resources managing director Mark Bennett said there has been a “tidal wave” of offers from other groups wanting to work with his new exploration company, as he seeks to replicate the

Woodside Petroleum's ambitious play for Oil Search is a rare example of a Perth-based company being the bidder in a big takeover. Click through to see Business News' listing and analysis of $1 billion-plus M&A deals in WA over the past 20 years.

Diversified miner Independence Group has slashed its workforce by 28 positions at its Long Operation in Kambalda, as it implements a number of cost-saving changes to its mining plan in response to the depressed nickel market.