19/06/2008 - 06:49

Today's Business Headlines

19/06/2008 - 06:49

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Gas pipeline fears first raised in 2003; Cazaly forces Rio to show its hand; Euroz silent on extent of Opes Prime exposure; I won't take Macmahon scrip for Ausdrill: Sayers; Intellect creditors owed at least $36m

Today's Business Headlines

Gas pipeline fears first raised in 2003
More questions have emerged about the cause of the gas explosion behind WA's gas crisis, with a State Government memo revealing there have been concerns for at least four years about checks conducted on vital pipelines. The West

Cazaly forces Rio to show its hand
Mining giant Rio Tinto is forced to reveal its development plans for the controversial Rhodes Ridge and Shovelanna iron ore tenements in WA's Pilbara. The Australian

Euroz silent on extent of Opes Prime exposure
Stockbroker Euroz has refused to disclose whether it faces further claims from clients after being hit with a legal action from an investor who lost a $7.8 million share portfolio in the collapse of failed share financier Opes Prime. The West

I won't take Macmahon scrip for Ausdrill: Sayers
Ausdrill founder and major shareholder Ron Sayers yesterday vowed to not accept any scrip offer for the drilling group as he broke his silence to defed the company against a hostile paper offer from Macmahon Holdings. The West

Intellect creditors owed at least $36m
The creditors of failed dotcom stock Intellect Holdings told long-suffering investors in Perth yesterday the group owed at least $36 million to a handful of secured creditors, with unsecured creditors owed hundreds of thousands of dollars more. The West

 

THE WEST AUSTRALIAN

More questions have emerged about the cause of the gas explosion behind WA's gas crisis, with a State Government memo revealing there have been concerns for at least four years about checks conducted on vital pipelines.

Business: Cazaly Resources managing director Nathan McMahon yesterday insisted an attempt to seize control fo one of WA's biggest undeveloped iron ore deposit from Rio Tinto-dominated joint venture was not a case of "Shovelanna mark two".

One of China's biggest steel groups Shougang Corp, has three months to decide whether to fund Australasian Resources $2.7billion West Pilbara iron ore project with interest-free debt.

Stockbroker Euroz has refused to disclose whether it faces further claims from clients after being hit with a legal action from an investor who lost a $7.8 million share portfolio in the collapse of failed share financier Opes Prime.

Ausdrill founder and major shareholder Ron Sayers yesterday vowed to not accept any scrip offer for the drilling group as he broke his silence to defed the company against a hostile paper offer from Macmahon Holdings.

The creditors of failed dotcom stock Intellect Holdings told long-suffering investors in Perth yesterday the group owed at least $36 million to a handful of secured creditors, with unsecured creditors owed hundreds of thousands of dollars more.


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