Mining

Energy Metals to raise $9.4 million

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Energy Metals is seeking to raise $9.4 million for its Bigryli uranium and Ngalia regional prospects in the Northern Territory.

Oil prices fall, WTI sinks to 5-month low

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Global oil prices have fallen, with the New York benchmark contract hitting the lowest level in more than five months amid ballooning US crude-oil supplies.

Forge flags lower earnings, equity raising

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Forge Group has requested a third extension to its voluntary trading suspension after admitting that the scale of losses on two power station projects won't be known until it completes negotiations with a customer and key sub-contractor.

Resolute to restructure Noble

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Parent company Resolute Mining intends to officially purchase Noble Mineral Resources' Bibiani project and sell off its remaining assets with a proposed deed of company arrangement.

Emeco forecasts profit slump

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Emeco Holdings expects improved trading conditions at its operations in Canada and Chile but still anticipates a net operating loss for the 2014 financial year as it struggles to combat ongoing softness in its main commodity sectors of thermal coal and gold.

Downer EDI wins Roy Hill mine contract

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Downer EDI is the latest contractor to be awarded work at Hancock Prospecting's $10 billion Roy Hill iron ore project, as new reports suggest the project is close to securing its long-awaited debt financing.

Gold closes hardly changed

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Gold futures have drifted between slight gains and losses before closing fractionally higher as investors weigh a stronger euro against fading optimism over Federal Reserve Chairman nominee Janet Yellen's dovish stance.

Silver Lake cautious on outlook

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Gold miner Silver Lake Resources has said it is not in a position to pay dividends, with volatile gold prices and the state government's minerals royalty review remaining as threats to its balance sheet.

Independence Group MD Bonwick resigns

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Chris Bonwick has resigned effective immediately as the managing director of Independence Group due to ill health.

Tanami shares fall after $11.75m rights issue

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Tanami Gold has seen its share price plunge 34 per cent after announcing an $11.75 million entitlement offer underwritten by its largest shareholder, Allied Property Resources.

Octanex to fund Peak, merger to follow

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Octanex and Perth's Peak Oil and Gas are working towards a merger, with Melbourne-based Octanex underwriting a rights issue for of $1.94 million that will go towards working capital for Peak prior to the implementation of the deal.

Mermaid Marine flags static earnings

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Mermaid Marine says its trading performance will be weaker than expected with a number of key projects pushed back to the second half of the year.

Decmil and Calibre confident despite slowdown

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Engineering and construction contractors Decmil Group and Calibre Group have both predicted a positive outlook after diversifying their businesses to cope with the mining services slowdown

Chevron questions rile Barnett

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Premier Colin Barnett has responded angrily after being asked if there was a link between Chevron's $64 million Elizabeth Quay land purchase and its bid to secure more ground on Barrow Island for the Gorgon gas project.

Rinehart named visionary CEO

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For the second consecutive year, Gina Rinehart has been named as a Visionary CEO at an awards ceremony run by consulting group McMillan Woods in Kuala Lumpur.

Oil rallies from five-month low

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Oil prices have bounced back somewhat after the US benchmark contract reached a five-month low the previous day.

Allchurch in Texas oil deal

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Oil and gas entrepreneur Peter Allchurch is set to become a major shareholder in Perth company TW Holdings after striking a deal to sell a Texas shale oil project to the listed company.

Abu Dhabi investor backs Swala

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Swala Energy has announced a placement of 19.5 million shares to two investors, raising $4.4 million.

Bhagwan signs Pronto partnership

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Bhagwan Marine has entered a new partnership with an eastern states-based software group to streamline management and maintenance of the oil and gas industry services company's fleet of 100 boats.

Hockey introduces legislation to end MRRT

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Treasurer Joe Hockey has introduced legislation to repeal Labor's mining tax and related measures that were supposed to be funded by the impost.

Fortescue accelerates debt reduction

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Fortescue Metals Group is continuing to accelerate its debt reduction by initiating repayment of nearly half of its $US2.04 billion in senior unsecured notes to its trustees that are due in 2015.

Traka to raise $1.4m for exploration

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Perth-based Traka Resources has announced it has resolved to carry out a fundraising of up to $1.4 million for its ongoing West Musgraves copper and nickel project in central Western Australia.

Gold falls

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Gold has extended its recent losses as automatic selling orders pushed prices deeper below $US1,300.

‘Black direction’ for Bartlett, Sayers trial

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The judge presiding over the trial of Barminco co-founder Peter Bartlett and Ausdrill managing director Ron Sayers today ordered the jury to keep deliberating in a bid to reach a verdict.

Barnett finalises JPP deal despite FLNG push

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The state government has finalised the acquisition of land at James Price Point for future gas projects, as the industry continues to focus on floating LNG developments, with the Scarborough project gaining environmental approval.

Westrac to cut 630 positions

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Seven Group says it will cut 630 positions across its Westrac business in a divisional restructure.

Wolf nears UK project approval

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Perth-based Wolf Minerals announced a milestone in the environmental permitting process for its Hemerdon tungsten and tin project in Devon, south-west England.

Oil rise after Iran nuclear talks stall

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Oil prices rose on Monday after marathon talks in Geneva aimed at persuading Iran to curb its disputed nuclear program ended without an agreement.

Forge extends trading suspension

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Forge Group says performance issues at two of its power station projects are likely to affect its earnings guidance, with the company extending a voluntary trading suspension as it holds discussions with financiers.

Orica forecasts further profit growth

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Explosives and chemicals supplier Orica expects higher profits in 2014 as key North American coal markets improve, and the company sells more sophisticated explosives and blasting systems.

Golden Rim signs $4m funding deal

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West Perth-based gold explorer Golden Rim Resources has lined up $4 million in funding under an agreement with global financier RMB Resources as it looks towards completion of a bankable feasibility study at its Balogo project in Burkina Faso.

FMG debt margin lowered

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Fortescue Metals Group announced that lead arrangers Credit Suisse and JP Morgan have successfully completed an amendment and repricing process for its senior secured debt facility.