06/08/2009 - 00:00

pg 2

06/08/2009 - 00:00


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Nasser to replace Argus at BHP

 BHP Billiton has announced that former Ford Motor Company president Jac Nasser (right) will take over from Don Argus early next year when the long-serving chairman retires. Mr Nasser was one of two front runners speculated for the chairman job, with fellow director John Schubert also believed to be in the running.

Collier changes tack on Mid West power

 THE state government has conditionally agreed to build part of a major power line in the Mid West after it omitted the upgrade in this year's budget due to a substantial cost blow-out. The turnaround follows a report from the government-commissioned review team, which identified about $200 million in potential savings by splitting the construction of the power line, extending from Pinjar to Moonyoonooka, into two stages.

Streeter, Cooper lose $65m court battle

 A GROUP of Perth businessmen has won a three-year battle against Western Areas directors Terry Streeter and David Cooper, with the Supreme Court awarding nearly $65 million to unrelated company Western Areas Exploration. WAE was seeking a portion of the profits made by Messrs Streeter and Cooper after both were allegedly presented with a potential nickel opportunity by three geologists, including Julian Hanna, who called themselves the Australian Nickel Project Consultants in 1999.

Ramelius launches $92m bid for Dioro

 AVOCA Resources' recommended takeover offer for Dioro Exploration has been trumped by Adelaide-based Ramelius Resources, which launched a superior $92 million all-scrip offer for the gold miner.

Faragher tightens Gorgon conditions

 ENVIRONMENT Minister Donna Faragher has endorsed environmental conditions for the Chevron-led Gorgon gas project, with some minor tightening of monitoring requirements. The minister's determination of appeals was one of the last hurdles for the $50 billion project to be built on environmentally sensitive Barrow Island. The project still needs final approval from the federal Environmental Minister, Peter Garrett.

Appointments 20

Gately reappointed to commission

Warwick Gately has been reappointed to the Office of Electoral Commissioner, Western Australian Electoral Commission. His reappointment is effective from August 15 for a term of five years.

Bebic Monadelphous CFO

Monadelphous Group has announced the appointment of Zoran Bebic (pictured) as chief financial officer. Currently the general manager business services, Mr Bebic will replace Giles Everist in the role. Mr Bebic is a CPA with 16 years of service with the company and has held a number of financial and general management roles throughout his career at Monadelphous.

KULCHA gets Nicolaou

John Nicolaou has been appointed to the KULCHA board. Mr Nicolaou is one of the state's most renowned economic and business commentators and brings a great deal of local business knowledge and economic experience to role. He is currently the chief officer, membership and advocacy at the Chamber of Commerce and Industry WA, and is also the chamber's chief economist.

Parliamentary secretaries named

The state government has announced six new parliamentary secretaries: Helen Morton will represent the treasurer; Wendy Duncan will represent the regional development minister; Michael Mischin will represent the attorney-general; Murray Cowper will represent the transport minister; and Bill Marmion will represent the premier and minister for state development.


Directors' Interests 19

Swick Mining Services managing director Kent Swick has spent more than $1 million participating in the company's recent $14.5 million rights issue and placement.

Mr Swick bought close to 2.8 million new shares in the rights issue at a discounted 36 cents each to boost his shareholding to just over 15 per cent.

The company's directors had earlier committed to take up around $1.1 million in the $6.3 million rights issue, which was managed by Euroz Securities.

Brockman Resources managing director Wayne Richards bought a swag of shares after exercising 1 million 'in the money' options for $500,000.

The options were exercisable at 50 cents each, a hefty discount to the company's trading price that day of $1.19.

Fresh delegate bait

THE Note couldn't help but be amused and somewhat captivated by the different techniques employed at Diggers and Dealers to lure delegates into company booths.

In between the usual giveaways of pens, stubby holders and various useless items like yo-yos and measuring tapes emblazoned with company logos were some truly innovative approaches to delegate attraction.

The Note was left scratching his head trying to find the link between Nintendo and mining, as both Snowden and Deloitte cracked out a Nintendo Wii for delegates to enjoy a simulated game of ten-pin bowling, Mario Kart racing or an electronic round of golf in between presentations.

Ironically, Newsat Satellite weren't up with the technology and instead set up a mini putting green in its booth to attract keen punters.

Kagara Resources, however, took it up another notch, designing its booth to resemble the interior of Kalgoorlie's famous Exchange Hotel. The only thing missing was the skimpy barmaid.

But taking the cake for extravagance in attracting attention was Silverlake Resources. The Diggers newcomers brought a 1,000 ounce gold bar to the event, which was proudly on display in its booth. The Note's offers to make sure the bar got home safely were sadly ignored.


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