Mark Beyer

Listed companies in Western Australia have delivered a succession of record profits over the past week, providing a solid basis for the strong rise in the sharemarket.

The revelations at the Corruption and Crime Commission are deeply disturbing.

Nedlands mortgage broker Mortgage Force has won a breakthrough victory against the state tax office by arguing that its sales representatives were consultants and therefore not subject to payroll tax.

Two more Western Australian government ministers, John Bowler and Kim Chance, appeared at the Corruption and Crime Commission inquiry today.

Gindalbie Metals Ltd has deferred the expected completion of the bankable feasibility study for its Karara iron ore project by six months to August 2007 but is still aiming to commence production by late 2009.

Perth-based Amcom Telecommunications Ltd has announced major changes to its board, including the retirement of managing director Eddy Lee, following a 200 per cent increase in half-year net profit.

Uranium miner Paladin Resources Ltd has agreed to proceed with construction of its second new mine after negotiating a development agreement with the government of Malawi, which has taken a 15 per cent stake in the project.

Uranium explorer Uran Ltd went into a trading halt today after press reports that the Czech government had rejected its proposal to acquire and expand the Rozna uranium mine.

Earthmoving equipment supplier Emeco Holdings Ltd has reported a strong increase in sales and profit for the half-year to December 2006 and predicted that it would achieve its full-year prospectus forecasts despite some difficulties in the business.

West Perth company Centralian Minerals Ltd has agreed to buy a 70 per cent interest in the Witbank coal project in South Africa for $21.5 million.

In 1997, gold explorer Westgold Resources bought a parcel of St Barbara shares from Perth investor, Ron Woss.

Perth companies Tox Free Solutions and Imdex are worlds apart in their core operations, but one trait they share is a desire to grow by acquisition.

Iron ore miner Murchison Metals is continuing to pursue the development of a new railway line in the Mid West, despite its plans being affected by the relocation of a $2 billion radio telescope project.

Private NSW company, Primary Energy Pty Ltd, is pushing ahead at full speed with plans for a $180 million ethanol plant at Rockingham after gaining conditional approval from the Environmental Protection Authority this month.

Newly appointed Clough managing director John Cooper is planning to sharpen the engineering and construction group’s focus as it seeks to reverse a string of losses.

Struggling animal pharmaceutical company Chemeq has won a court injunction that will restrain its convertible bondholders from appointing a receiver.

Waste management company Tox Free Solutons Ltd has made its third substantial acquisition in the past year, paying $13 million in cash and shares for privately-owned Kimberley Waste Services.

Perth gold explorer Carrick Gold Ltd has made a $23 million cash-and-scrip takeover offer for fellow Frank Carr-chaired gold explorer Shannon Resources Ltd.

Perth-based pearl producer Atlantic Ltd has gone into administration after incurrig its third successive annual loss.

Henderson-based modular building supplier Nomad Building Solutions Ltd has exceeded the forecasts in its 2006 float prospects, reporting a net profit of $7.1 million for the half-year to December 2006.

Western Australia’s remarkable run of good economic news continued this month with the unemployment rate falling to the lowest level since official records started 30 years ago.

Small and mid-sized audit firms will come under increasing pressure to merge or restructure their business after the Australian Securities and Investments Commission adopted a hard-line interpretation of its auditor rotation policy.

Unlisted Perth company Lignor has taken another step towards building a $250 million engineered lumber plant in Western Australia, following the lead set by Denis Cullity’s Wesbeam Holdings.

Uranium producer Paladin Resources Ltd has reported commissioning problems at its flagship Langer Heinrich project in Namibia, though it believes the problems are "normal at this stage".

Sons of Gwalia shareholders looking forward to a payout after last week’s historic High Court ruling will have to wait for two more matters to be resolved before finding out what, if any, distribution they can expect.

Australia’s prospects of hosting the world’s biggest telescope have hit a significant hurdle after the co-ordinating committee was forced to consider an alternative location.

A proposed $2 billion radio telescope in the Mid West is forcing infrastructure and mining companies in the once-sleepy region to reshape their plans.

Rio Tinto’s bumper 2006 profit result announced last week may have highlighted the boom in commodity markets, but it also hid a few shockers in its Australian operations.

The Mid West region has established itself as Western Australia’s second iron ore province after the Pilbara, with three companies now exporting ore through Geraldton and a fourth planning to start exports next year.

The debate over rail and port infrastructure in the Mid West hotted-up today, with Yilgarn Infrastructure providing details of its rail project and the state government calling for more data from the industry before committing to further port upgrades.

During the past four weeks, Alinta Ltd, Multiplex Group and Sydney-based Origin Energy Ltd have highlighted the challenge facing company directors trying to determine the best approach to market disclosure.

Rising costs have been a growing problem for businesses during the current boom, and Mid West iron ore miner Mount Gibson Iron has added a new kind of cost blow-out to the mix.