Short and sweet
Rebranding is all the go these days, even for industry bodies.
It seems it's out with the acronyms and in with easy words that people can remember.
THE lure of generous tax deductions has taken more casualties in Western Australia, with investors fleeced of almost $100,000 in a scam disguised as a film industry investment.
TWO prominent directors of Western Areas have pocketed more than $11 million from the sale of shares as unrelated company Western Areas Exploration makes its way on to the share register after a lengthy court battle.
TWO national property developers with significant interests in Western Australia have announced strong year-end results despite difficult market conditions.
Herald Resources has reiterated its rejection of a takeover bid by Jakarta-based PT Bumi Resources despite another major shareholder advising it will accept the offer.
Nexus Energy has raised $31 million from an instiutional placement with funds to be used for ongoing development of its 85 per cent owned Crux liquids project off WA and Longtom gas operation in Victoria.
Delays have prompted Stirling-based ComputerCORP to terminate its acquisition of private east coast outfit S Central while it seals the deal on another purchase.
Panoramic Resources' net profit has slumped 89 per cent to $5.6 million for the year to June 30, down from $53.3 million the previous year after the company's revenues receded on the back of lower nickel prices.
West Perth-based Marengo Mining has welcomed several global investment funds, including Soros Funds Management, onto its register after it raised more than $16 million through a share placement in North America.
Uranium producer Paladin Energy has posted a $US480 million loss for the year to June 30 on the back of large impairment expenses but remains positive about its current operations and growth opportunities.
The state's largest health insurer HBF is forecasting a loss of $115 million for the 2009 financial year but says it has strong financial reserves, accumulated during recent years, to weather the financial downturn.
West Perth-based Barra Resources has raised $3.5 million through an oversubscribed placement to advance drilling on its key Mt Thirsty nickel and Phillips Find gold projects in Western Australia.
Ratings agency Standard & Poor's has suggested that state-owned energy retailer Synergy 's credit rating is likely to come under pressure when the government proceeds with changes to its power purchase contracts.
Balcatta-based Conquest Mining says it is currently in negotiations for an $80 million debt facility as it receives an offtake proposal from a Chinese smelter for its Silver Hill gold-silver-copper project.
Scooter manufacturer Vmoto has delivered its fourth successive year of revenue growth but has posted a $4 million loss for the 2009 financial year, largely attributable to the development of its new facility in China.
Brandrill has reported a 75 per cent slump in its full-year net profit on the back of a steep fall in revenues and tightening of competitive pressures on margins in the second half of the 2009 financial year.
West Perth-based Northern Iron plans to raise $61.4 million through a rights issue and has selected a new chief executive following a cost blowout at its iron ore project in Norway.
VDM Group has reported a loss of $106 million for the 2009 financial year on the back of hefty writedowns coupled with weak business confidence and highly competitive tendering.
The state government is to create a new department dedicated to training and will rebrand Tafe colleges as part of plans to ensure the state's skills base has the appropriate attention as WA gears up for a big rise in economic activity.
Miner Perilya has described fiscal 2009 as a "tale of two halves" with the first half recording a $77.2 million net loss while a new operating plan resulted in a $2.1 million net profit in the second half.
East Perth-based Metals X will pocket more than $16 million after its largest shareholder, Hong Kong company APAC Resources, agreed to lift its interest to 28.3 per cent.