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WRF heads south

PLANS are underway for WRF Securities Ltd to launch an investment scheme in South Australia.

The Perth-based mining company has capped a busy quarter for its newly established financial services division by announcing a scheme to launch a prospectus to raise $14 million for a blue gum project on Kangaroo lsland.

The project is part of a long-term plan to develop around 20,000 hectares of blue gum plantations over ten years on the island.

The company has also reported gold production of 21,610 ounces from its 49.9 per cent owned Dalgaranga gold mine near Mt Magnet.

WRF Securities managing director Rob Nichevich said Dalgaranga continues to produce “excellent” cash flow and profit.

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