Business News

Emerging iron ore company Flinders Mines is looking to raise up to $14.52 million under a non-renounceable rights issue, with the funds primarily used to repay a loan from its major shareholder Todd Corporation.

Our daily board moves wrap includes Morgan Ball, Egan Antill, Brian Mumme, Luke Graham, Nathan Buzza, Terry Barr, Peter Hill, Tristan Farel, Peter Bird, and Mike Joyce.

Goldminer Red 5 is raising $125 million from a two-tranche share placement to fund the final feasibility study for its King of the Hills gold mine in Western Australia.

Western Australian Kate Leeming recently embarked on a cycling expedition through the Andes in South America, but the pandemic cut this short and she had to make a mad scramble to get out of Bolivia before the borders were shut. Here’s her story:

Henry Kennedy will be retiring as non-executive director of Norwest Energy at the end of the month.

Prime Minister Scott Morrison announces further restrictions for international arrivals, Health Minister Roger Cook confirms 24 new cases of COVID-19 in Western Australia, Premier Mark McGowan announces a ban on regional travel, and Mines and Petroleum Minister Bill Johnston proposes new rules to help mineral exploration companies.

Aquaculture company Seafarms Group has completed a $12.5 million capital raising ahead of the rapidly evolving COVID-19 situation to keep its operations afloat over the next 12 months.

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Roger Cook has confirmed 231 COVID-19 cases in WA. The state government will fund $3 million to coronavirus-related research. There will be easier access to some prescription medicines. New maternity hospital will be deferred.

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Oil and gas explorer Otto Energy is looking to raise up to $17.5 million, despite current market conditions, to fund the development of its well in the Gulf of Mexico.

NRW Holdings managing director Jules Pemberton has sold 3.65 million shares to fund personal tax liabilities, at a price that was less than half the January peak in the company's share price.

Perenti Global has put dividends on hold to boost its financial position in response to the COVID-19 pandemic, but says the virus has not yet affected the business.

Bellevue Gold has received commitments to raise $26.5 million through a share placement, as the company seeks to upgrade resources at its flagship project in Western Australia.

There have been 30 insolvency appointments to Western-Australian-incorporated companies in the last two weeks.

US-based Eric Vincent has joined the board of Breaker Resources as non-executive director.

Mark McGowan says regional WA travel restrictions will soon be announced, foreshadows beach closures. Optus Stadium converted to emergency headquarters for WA police. WA's confirmed COVID-19 cases grew by 35 to 175.

Kelmscott-based adviser Anthony Hilsley has been banned from providing financial services for four years, while real estate sales representative James Mitsopoulous has been banned from working in the industry for 10 years.

Treasurer Ben Wyatt has reversed his decision to retire from politics, announced just one month ago. Read his statement in full.

Calima Energy has made some changes to its management structure to maintain balance sheet strength, preserve flexibility and reduce overheads across the business.

WA's confirmed COVID-19 cases jumped by 20 overnight to 140. Premier Mark McGowan warned not enough people were adhering to social distancing rules. WA will go into border lockdown tomorrow while cafes, restaurants and bars were restricted to takeaway services only at 12pm today.

New research from BDO has found Australian companies are unaware of the cyber security threats they're facing, despite becoming more sophisticated in how they manage the issue more broadly.

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PM Scott Morrison announces further restrictions on indoor gatherings. He also announced a delay to the federal budget. Australia has recorded its seventh COVID-19 death. WA has 12 new cases.

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Roger Cook confirms community transmission in WA. Prime Minister Scott Morrison has imposed a travel ban on all non-residents. Confirmed COVID-19 cases in Australia has reached 514.

Mineral Resources boss Chris Ellison has struck a deal with his brother Andrew Ellison’s company to sell two of its non-core manganese assets while also providing project funding and mining services assistance.

Zenith Energy will increase the capacity of a power station at one of Toronto-based Superior Gold’s operations in Western Australia after receiving a 52-month contract extension.

AFL boss Gillon McLachlan has announced the league will proceed with Round 1 as planned, with the first match to be played between Richmond and Carlton at the MCG tomorrow night.

Charles Rottier has joined the board of Tempo Australia as an independent non-executive director.

A growing number of hospitality venues are either closing or revising their operations, after the Prime Minister announced the ban of all non-essential gatherings of 100 plus people. The ban is effective immediately and will impact religious services.