West Perth-based nickel miner Western Areas has announced a $35 million loss in the year to June 30 as a result of weak nickel prices, delayed sales and continued investment in its expanding nickel operations.
The board of Western Areas has given the go ahead for a $62 million expansion of its Forrestania operation which is set to double nickel production next year.
Nickel miner Western Areas has locked in a two-year offtake agreement with China's Jinchuan Group, which will buy up to 25,000 tonnes of nickel from the Forrestania operation in Western Australia.
Shares in Kagara have closed higher after drilling at Western Areas' adjacent Flying Fox mine intercepted a good nickel result within the former's Lounge Lizard project.
Nickel miner Western Areas is expecting $100 million to come its way shortly after the company raised over $35 million through a slightly discounted share placement.
Western Areas will have the right of first refusal over Kagara's Lounge Lizard nickel project after it struck a multi-million dollar deal to grant the latter company access.
Nickel miner Western Areas is seeking new offtake deals for 2010 onwards after allowing BHP Billiton to take Norilsk Nickel's share of concentrate until the end of the year.
Nickel producer Western Areas has signed an offtake and $45 million financing agreement with BHP Billiton, with the funds earmarked for mine development and plant expansion.
Nickel miner Western Areas is seeking to finalise a new offtake arrangement after announcing a major restructure of its old offtake agreement with Norilsk Nickel, which is closing its Australian mining operations.
Nickel miner Western Areas says it has probably recorded the lowest cash costs in Australia as production at its Flying Fox mine in Western Australia exceeded its yearly target.
A company with an indirect interest to Western Areas chairman Terry Streeter has pocketed nearly $2 million from the on-market sale of the miner's shares over the past four days.
MINERAL and petroleum commodities dominate Western Australian exports, with iron ore alone accounting for almost one-third of the state's total exports.
West Perth-based Western Areas NL and Melbourne-based Troy Resources NL have signed an agreement to explore for nickel at Sandstone in Western Australia, the companies have announced.
West Perth-based nickel company Western Areas Ltd will build a nickel concentrate plant at its Cosmic Boy site, in the middle of its Forrestania nickel project, putting the plant construction out for tender, the company has announced.
West Perth-based nickel company Western Areas Ltd has increased its investment in Canadian nickel company Mustang Minerals Corp to 19.2 per cent after exercising warrants worth around $2.5 million.
West Perth-based nickel company Western Areas Ltd has completed the issue of $225 million worth of convertible bonds, with funds to be applied to a feasibility study at its Diggers South project.
West Perth-based exploration company Western Areas Ltd has successfully raised $26.5 million in a share offer on the Toronto Stock Exchange, financing the expansion of the company's Flying Fox mine, as well as further acquisitions.
West Perth-based exploration company Western Areas Ltd will earn around $22.6 million in a placement to finance the expansion of the company's Flying Fox mine, as well as further acquisitions.
West Perth-based mining explorer Western Areas NL will acquire up to 19.9 per cent of issued capital in Canadian company Mustang Minerals Corp, after making a $5.7 million placement.
West Perth-based nickel producer Western Areas NL aims to raise $45 million through a non-renouncable entitlements issue to fund expansion of the company's Flying Fox mine and exploration of the company's other nickel projects.
Nickel developer Western Areas is scheduling production by the middle of next year after already rewarding shareholders who have been in the stock for as little as two months.
An agreement has been executed with Outokumpu which will enable Western Areas to acquire 100% of the gold rights to the Forrestania tenements already owned by Western Areas.
UNLISTED company Western Areas NL will launch a big drilling program on potential sulphide nickel targets once it achieves its goal of raising $5 million from a float which closed on July 7.
