Financial Services

Burswood-based surgery technology company NSL Health Ltd will switch focus to the resources sector later this year after entering into a merger agreement with unlisted company Iron Ore Hill Ltd.

Osborne Park-based Anvil Mining Ltd is set to raise $310 million from a share placement to Israeli mining investor Dan Gertler who, on completion of the raising, will hold 25 per cent of the company.

The state gas crisis is expected to cut Alumina Ltd's underlying earnings by $31 million for the June quarter after the company revised down the impact for the month of June.

Western Australian companies APAC Coal Ltd and Kilgore Oil & Gas Ltd have succumbed to the overall market downturn today, debuting underwater on the Australian Securities Exchange.

GRD Minproc, a subsidiary of GRD Ltd, and GR Engineering Services Pty Ltd have secured study and development contracts with Exco Resources Ltd and Univeral Resources Ltd respectively.

Only one more hurdle remains for the $400 million sale of Cape Lambert Iron Ore Ltd's namesake project to MCC Mining, which today received Chinese government approval.

Western Australia's gas crisis has already cost $2.4 billion in lost turnover and is expected to rise to $6.7 billion as the state's peak business group predicts economic growth will ease this financial year.

Takeover target Midwest Corporation Ltd has issued $19.3 million worth of shares to Morgan Stanley Austrlaia Ltd as payment for advisory services relating to the Sinosteel Corp takeover offer.

Takeover target Ausdrill Ltd has fired back at Macmahon Holdings Ltd's claims that its share price is being propped up by its $400 million bid, saying its bidder had so far managed to secure 0.31 per cent of Ausdrill shares.

Clough appoints Spence CLOUGH Ltd has appointed former Woodside Petroleum Ltd executive Keith Spence as an independent non-executive director.

For Perth's hotel operators, the current market is something of a mixed blessing.

It's a curious thing when a company sheds some light onto its commercial dramas - sometimes the problem fixes itself under the glare of the spotlight.

EIGHT months after it bought the site for $70 million, Goodman International Ltd has signed US-based drilling services company, Boart Longyear Ltd, as the anchor tenant for its Stockyards Industrial E

Briefcase would like to take this opportunity to set the scene for the 2009 financial year.

One of Perth's better-known faces of venture capital, Mark Dutton, has moved to establish his own firm with private equity backing pitched at funding the smaller end of the market.

Engineering company Ausenco Ltd will provide West Perth-based Equinox Minerals Ltd with $8 million in additional costs following a fire at the Lumwana copper project in Zambia.

Construction industry hopes have suffered a blow, with Master Builders Australia's national survey revealing the fourth consecutive fall in builder sentiment in the June quarter.

Perth engineering company Macmahon Holdings Ltd has formed a new Aboriginal contracting business as it decides whether to extend its takeover offer period for Ausdrill Ltd.

Perth-based Bankwest has become the latest bank to lift its standard variable home loan rate, increasing it by 0.2 per cent to 9.55 per cent.

Balkans Gold Ltd plans to raise $3.2 million via a non-renounceable pro rata rights issue to help fund its acquisition of West African Resources Ltd and ongoing exploration programs.

Richfield Group Ltd and PharmAust Ltd have become the latest Western Australian companies to reveal their exposure to the affairs of besieged financial services provider Chimaera Capital Ltd.

Two Western Australian companies have become entangled in the fall-out of Primebroker Securities Ltd, part of the Chimaera Financial Group.

Belmont-based Ferrowest Ltd has doubled the scope of the engineering study into its Yalgoo iron project to one million tonnes per annum on the back of high demand for merchant pig iron.

Eight months after it bought the site for $70 million, Goodman International Ltd has signed US-based drilling services company, Boart Longyear Ltd, as the anchor tenant for its Stockyards Industrial Estate in Hazelmere.

West Perth-based Universal Resources Ltd has mandated the Royal Bank of Scotland and ABN AMRO in London to arrange a $US30 million bridging finance facility for the development of its Roseby copper project.

Mandurah man Leslie Walters is the latest person to be banned by the corporate watchdog from providing financial services over his role in the Westpoint Group collapse.

West Perth-based Rialto Energy Ltd is planning to raise over $7 million via a share placement to fund exploration of its projects in the Carnarvon Basin and attract international growth opportunities.

Perth-based Coal of Africa Ltd has entered into an agreement with a joint venture held by Rio Tinto and Kwezi Group of South Africa to exchange certain coal tenements.

Perth-based international office equipment financing company ThinkSmart Ltd will expand its reach in the Europe and New Zealand markets after agreements were secured with Media-Saturn France and Dick Smith Electronics.

Four Midwest Corporation Ltd directors have decided to accept Sinosteel Corp's takeover offer, a day after its merger with Murchison Metals Ltd was called off.

Crescent Gold Ltd shares have sunk to a 12-month low after the gold producer suspended its Laverton operation in Western Australia following problems with the processing plant.

Murchison quits bid with shot at Sinosteel; No need for exporters to fear: Garnaut; Pratt accuses ACCC of 'abuse of power'; Veteran brokers drive $150m takeover by Bell; Shock downgrade rattles market