Renowned Western Australian mining veteran Terry Streeter, who started investing in resources stocks more than 40 years ago using funds from his grocery business, has passed away aged 80.
North America focussed mineral explorer American West Metals has appointed highly experienced mining executive Daniel Lougher as its new Non-Executive Chairman effective from February next year. Lougher previously served as Managing Director for nickel developer Western Areas, leading the company to a $1.3 billion acquisition by mega miner IGO Limited. He will initially serve as the company's Non-Executive Director from November this year before transitioning to Chairman.
IGO said today its scheme of arrangement, to acquire 100 per cent of Western Areas, was legally effective, with the deal scheduled to complete later this month.
IGO's proposed acquisition of Western Areas has hit a snag amid claims that an independent report prompted the WSA board to potentially reconsider its endorsement of the $3.36 per share offer.
Western Areas co-founder and former managing director Julian Hanna said he was excited to return to a promising nickel and base metals exploration story.
Strengthening commodity prices have helped conclude a smooth quarter for IGO and braced Pilbara Minerals through a period of lower production and labour shortages.
Wyloo has stepped up its stake in WA nickel play Western Areas to just over 9 per cent, despite the target agreeing to a $1.1 billion takeover with IGO six weeks ago.
BHP is mounting a legal claim against Western Areas after it was forced to fork out more than $1 million in compensation because of an alleged insurance bungle.
Perth nickel company IGO has continued to push its clean energy strategy confirming it will acquire rival Western Areas in an all cash takeover, ending months of speculation.
A potential takeover between IGO and Western Areas could still be on the table after the companies offered the market their first update in weeks that due discussions were continuing.
Andrew Forrest's Tattarang has bought $38 million of Western Areas shares since March, revealed a day after IGO confirmed the nickel miners were in takeover discussions.
Nickel miner Western Areas has posted a 20 per cent rise in quarterly production, as the company looks to bolster its WA operations with the development of its Odysseus project.
Nickel miner Western Areas has secured $85 million to complete the development of its Odysseus project in the northern Goldfields while announcing plans to raise a further $15 million.
Metal Hawk's share price closed up 30 per cent on its first day of trading, while fellow gold explorer Medallion Metals has sought an ASX listing before Christmas.
Western Areas' net profit has more than doubled to $31.9 million for the full financial year, with the nickel miner also reporting strong sales revenue.
Mineral Resources has achieved record iron ore production for the June quarter, while Western Areas says its nickel output fell just below the company's full-year guidance.
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.
Atlas Iron chief executive Sanjiv Manchanda was among the biggest fundraisers in Australia for this year's CEO Sleepout, helped by a sizable donation from Atlas' owner, Gina Rinehart.
Panoramic Resources has edged closer to the restart of its Savannah nickel mine in the East Kimberley after launching a $90 million capital raising, with Western Areas to emerge as a new strategic investor.
Renowned geologist and company director Terry Grammer has passed away after a short-term illness, with former colleagues and industry figures highlighting his role in some of Western Australia's biggest mineral discoveries.
Western Areas says it remains on track to meet its full-year production guidance after reporting steady nickel production and sales over the March quarter along with a healthy financial position.
First Quantum Minerals has reached a new milestone as it moves closer to re-opening its Ravensthorpe nickel project, while fellow nickel miner Western Areas has signed new offtake contracts with BHP and Jinchuan.
The number of women in executive leadership positions across Australia's largest listed companies is slowly increasing according to a new report, with Emeco Holdings, Wesfarmers and South32 the top performers for Western Australia.
US company Civeo has acquired Kewdale-based Action Industrial Catering, which counts Fortescue Metals Group, Pilbara Minerals and Western Areas among its major clients.
Ausdrill has won contracts in Western Australia worth a combined $171 million, including for underground mining services at Regis Resources' Rosemont project.
Gold miners with Western Australian operations are providing a strong return to investors, making up 35 per cent of the top 20 performing stocks in the S&P/ASX 200 for the past three months.
The final months of 2018 hit investors in Western Australian stocks hard, with the Business News index of 30 local ASX-listed companies falling 13.3 per cent.
