The world's biggest drilling services company, Boart Longyear, says higher costs and lower prices are weighing on earnings but revenue is expected to pick up.
Gold futures have closed lower as upbeat US economic data bolster the US dollar and fan expectations of tighter monetary policy from the Federal Reserve.
Gold producer Doray Minerals was up more than 26 per cent today after confirming high grade gold results at its Andy Well mine, saying it confirmed the potential of extensions to the mine’s life.
Former executive chairman of the Kimberley Diamond Company, Miles Kennedy, has left the role of managing director at Lucapa Diamond Company as part of a board restructure.
Oil prices have sunk to new five-year lows with the US benchmark West Texas Intermediate crude nearly hitting $US60 a barrel, 40 per cent down from just six months ago.
Gold prices have retreated from a six-week high, as some traders take profits on the recent rally and others adjust their expectations for the timing of interest-rate increases in the US.
West Perth-based Red Fork Energy, which has raised $125 million from investors over the past three years to support its shale drilling program in the US, has collapsed after losing the support of its major lender.
Resource Development Group has been assigned two construction contracts for Chevron’s Gorgon LNG project, following the demise of Killarnee Civil & Concrete Contractors.
Global oil prices have rallied modestly from five-year lows after a US agency trimmed its forecast for 2015 US output because of drilling-budget cutbacks.
Gold futures have surged to their highest level in more than six weeks as losses in US stocks and the greenback stir up investor appetite for haven assets.
Gold developer Norton Gold Fields has taken a stake of 10.8 per cent in Phoenix Gold, but has clarified it has “no present intention to make a takeover offer”.
Shares in explorer IMX Resources have rocketed up 30 per cent after the company announced it had received expressions of interest for its Ntaka Hill nickel project in south-east Tanzania.
Shares in energy company Santos have shed more than a third of their value in less than three weeks after further falls in oil prices and a credit rating downgrade.
Blackgold International Holdings has negotiated terms for a $S25 million ($A22.9 million) convertible bond issue, to supplement working capital and for acquisitions.
Onslow will receive a new hospital and complete its airport redevelopment following the state government’s announcement of two new funding packages today.
Gold futures have edged up amid signs of slowing global growth and concerns that central banks around the world could respond with stimulus measures that would drive currency values lower.
The peak national body for engineers has revealed a strong desire among its members in Western Australia to be engaged in the industry’s nascent floating liquefied natural gas developments.
Engineering, maintenance and construction provider Tempo Australia has announced its subsidiary, Tempo Construction and Maintenance, has won a contract with Santos for provision of labour trade resources at its operations in the Cooper Basin.
Shares in Geopacific were up 9.3 per cent today as the company announced a $3 million rights issue, with the company planning to step up exploration activity at its Cambodian Kou Sa project.
The latest numbers from Western Australia’s listed gold miners show they remain under pressure from rising costs and a falling global gold price, with some local producers concerned that changes to the state’s royalty system might erode margins beyond break-even.
