Staff Reporters

Automotive industrial firm Coventry Group has downgraded its earnings guidance by $1 million for the current financial year, citing weaker than expected trading conditions and the negative impact from the Queensland floods.

CBH Group will remain owned and controlled by local grain growers, after it announced it would remain a co-operative following a review of its operating models and business structures.

Perth's residential land market has joined the established housing sector in the doldrums, with the number of lots sold in the December quarter dropping 27 per cent on the previous corresponding period.

The Environmental Protection Authority has rejected Hanson Construction Materials' proposal to expand its quarry at Red Hill.

West Perth-based copper explorer Altona Mining is seeking to raise $70 million to fund development of its Outokumpu project in Finland and exploration activities at its Roseby project in Queensland.

Perth's residential real estate market remains the worst performing in the nation in terms of capital gains, according to the latest home values analysis by industry consultants RP Data-Rismark.

Apex Minerals has offloaded its Gidgee gold exploration project near Wiluna to Panoramic Resources for $15.5 million.

BC Iron has become the first Pilbara junior iron ore miner to transport product on a third party's infrastructure, with the first ore from its Nullagine joint venture shipped to Fortescue Metals Group's Herb Elliot Port.

Bauxite Resources says its new joint venture partner, Yankuang Resources, will reimburse it $6.1 million in exploration costs and pay 70 per cent of the cost of future exploration and mining.

Datamotion Asia Pacific says independent research has shown its Mt Barrett rare earths tenement to have similar properties to the world's richest rare earths deposit, Lynas Corp's neighbouring Mt Weld.

The state government has narrowed the prospective Midland Health Campus provider field to two, with private hospital operators Ramsay Health Care and St John of God Health Care shortlisted to deliver the $360 million project.

Tim Goyder's Chalice Gold Mines has announced its wholly-owned subsidiary, Keren Mining, has been granted two new exploration licences in Eritrea.

Perth-based Axiom Properties has signed Bunnings as an anchor tenant for its Islington Railyards bulky goods and hardware development in South Australia.

Red Emperor Resources has announced an $11 million capital raising plan to fund exploration programs in Georgia and Puntland.

Brockman Resources and FerrAus have refuted claims they are embroiled in merger discussions.

Breakaway Resources says the strong copper price outlook has kick-started exploration around the recently re-opened Eloise copper mine in north-west Queensland.

Atlantic has appointed Electrical Construction & Maintenance Australia and Kerman Contracting to complete development works at the Windimurra vanadium project, 600 kilometres north of Perth.

Carrick Gold says it is on the path to production in 2012, after appointing former North Queensland Metals boss John McKinstrey as chief executive.

Fresh from last week's $130 million project news, Diploma Group has secured a 2,634 square metre site in Midland for a $25 million, 60-apartment mixed-use complex.

Stockmarket darling Doray Minerals says its share purchase plan has been received well by investors, closing oversubscribed and raising a total of nearly $4 million.

Canada-focused minerals explorer Glory Resources has made an impressive debut on the Australian Securities Exchange, spiking to a 35 per cent premium on its issue price in its first day of trading.

Venturex Resources says it will raise $36.8 million to acquire the Panorama copper and zinc mine in the Pilbara from CBH Resources.

Diversified minerals explorer Atlantic has struck an agreement with a Chinese-backed manufacturing group and a Hong Kong-based commodities trading firm for the sale of 100 per cent of production from its Windimurra vanadium mine.

Perth-based Empire Beer Group has moved to bolster its financial position, launching a $1 million capital raising.

Sparks are flying in the boardroom at Vmoto, with warring directors Russell Goodman and Trevor Beazley both subject to resolutions to remove them from the scooter retailer's board.

The Western Australian Court of Appeal says Western Areas Exploration waited too long before bringing a claim against Terry Streeter and David Cooper, ruling WAE was not entitled to $60 million in damages awarded last year.

Vmoto shares have hit a 52-week low after one of its significant shareholders reduced their exposure to the Perth-based scooter retailer, just days after former boss Russell Goodman threatened to sell his stake after being dumped as executive chairman.

BHP Billiton says two of its natural gas projects in Victoria will cost the company about $1.1 billion more than expected, after mercury contamination and fabrication issues blew out production timelines.

Diploma Group has been given the green light to construct $130 million worth of new projects in the CBD, with the City of Perth approving apartment plans at Pier Street and Adelaide Terrace.

Spain-focused uranium hopeful Berkeley Resources has announced the completion of a fully underwritten $55 million share placement at $1.70 per share.

The state government says $52 million will be injected into the local economy by business visitors over the next five years, with the Perth Convention Bureau on track to secure over $100 million in business events during the 2010-2011 financial year.

The financier for Moly Mines' Spinifex Ridge molybdenum project in the Pilbara says it is still committed to the project, despite delays in securing project approval.