Financial Services

Collapsed biofuels company Natural Fuel is set to be sold to private WA business NRG Capital for $575,000 after creditors agreed to execute the deed of company arrangement.

Subiaco-based oil and gas explorer Promesa has opened its initial public offer in which it hopes to raise up to $3 million that will predominately be used to fund its interests in two projects in the United States.

Galaxy Resources has extended its relationship with unlisted public company General Mining Corporation, with the pair forming an alliance to explore for lithium in Kazakhstan and Mongolia.

Perth-based PearlStreet has recommended shareholders accept a sweetened $56.3 million takeover offer from Campbell Brothers, snubbing Catalyst Investment Managers' recapitalisation proposal.

Uranium explorer Raisama has received regulatory approval for a Chinese state-owned firm to take a 14.9 per cent interest, ahead of a $12 million initial public offer expected to be launched within two weeks.

Perseus Mining has unveiled details of its third capital raising this year, with the gold hopeful planning to raise $58.5 million through institutional investors to take its Ayanfuri gold project through to construction.

VDM Group has announced plans to raise $35 million as part of a strategy to reduce its debt levels and strengthen its financial position.

West Perth-based explorer Exco Resources plans to raise $10.1 million for further exploration work at its copper projects in north-west Queensland.

Perth-based property funds manager Aspen Group has outlined steps taken to address market pressures, which resulted in a $64.7 million loss for 2008-09 after the financial crisis severely hurt property valuations, management fees and transaction activity.

Adelaide-based Flinders Mines is planning to raise more than $50 million through an institutional placement and a fully-underwritten rights issue to progress its Pilbara iron ore project.

Explorer Hazelwood Resources has revealed plans to raise up to $12.35 million to fund exploration works and a bankable feasibility at its Cookes Creek tungsten project in the east Pilbara.

Kevin Rudd may be leading the charge on the ETS, but another PM had the idea first.

HOUSING Minister Troy Buswell's reform proposals for public housing announced last week could not have come at a better time for national social housing provider Community Housing, which recently announced its intention to move into the Western Australian

Many of the pioneers of private education in WA still cast a long shadow over one of the state’s biggest export industries.

Sandfire Resources managing director Karl Simich has sold 1 million shares to an unnamed North American resource fund, pocketing more than $3.5 million.

The strength of the Australian dollar is good news for international speculators, but not for exporters.

The tourism industry needs the government to commit to a new accommodation program.

Troy Resources non-executive chairman John Dow has described the battle for boardroom control as a clash of personalities that started last year, as the chance of a truce looks highly unlikely.

Perth-based energy specialist Enerji is set to establish an office in the United States after a number of the country's green investment funds indicated they will invest more than $11 million into the company.

Perth-based mortgage aggregator Australian Finance Group has sold its financial planning arm to ING-backed Sentry Financial Group.

Computer and office equipment financing company ThinkSmart has signed a three-year distribution agreement with a leading European electrical retailer that will see the company provide its B2B rental finance product in almost 20 locations across Spain.

Commonwealth Bank of Australia (CBA) has paid a $100,000 fine from the corporate watchdog for an alleged failure to disclose a hike in its 2009 bad debt forecast ahead of a controversial $2 billion capital raising.

Uranium developer Toro Energy has appointed a specialist three-member project team to lead its flagship Wiluna project north of Kalgoorlie as the project's bankable feasability study moves towards completion by 2011.

'Luddites' keep Perth in dark on retail trading; Super review targets fund manager fees; Big Telstra holders blasted; Manufacturers, wholesalers, retailers sentiment flags; Rio unit soars on coal rebound

A revaluation of the recently re-purchased RAC Insurance by the Royal Automobile Club of WA has nearly offset the investment losses it felt at the hands of the global financial crisis.

The friendly merger between project engineering outfit Emerson Stewart Group and risk management company Greencap has been terminated.

The Gordon Martin-backed Pulpwood Plantations is extending its bid for Great Southern timber schemes to include all but one of the flagship plantations.

The Michael Wright-backed private company General Mining Corporation is seeking to raise $240,000 in seed capital to help it prepare for a local stock exchange listing by the end of the year.

Former Regis Resources managing director David Walker plans to sue Newmont Mining Corporation for more than $9 million for alleged misleading and deceptive conduct.

West Perth-based New World Energy plans to raise $10 million through an initial public offer to explore and develop its geothermal permits, and expects to list on the local stock exchange by the end of the year.

Adultshop.com has indicated it is unlikely to recommend a hostile takeover offer from Melbourne group Sexyland, saying its directors will not accept the offer on its current terms.

Moly Mines says it is continuing strategic investor talks for its Spinifex Ridge molybdenum operation in the Pilbara, as debt capital markets continue to resist supporting green-field projects.