The state parliament has passed legislation today that seeks to guarantee Western Australian businesses a larger share of government contracts, after the auditor general found major flaws in the existing Buy Local policy in a report tabled earlier this week.
Junior explorer Walkabout Resources will tap investors for up to $10 million through a placement and rights issue as the company continues exploration at its African projects.
Finders Resources’ second-largest largest shareholder, Taurus Funds Management, has rejected a 23-cents-a-share bid for the copper miner by Indonesian group Eastern Field Developments.
Byrnecut executive chairman Steve Coughlan has slammed the state government’s decision to crack down on payroll tax exemptions, saying his company will no longer receive the exemption for courses being undertaken by 1,200 employees.
The ASX is set to adopt blockchain-based technology for its clearing and settlement process, after announcing today that it would replace the current Clearing House Electronic Subregister System.
West Perth-based Gascoyne Resources has secured a $60 million debt facility with two major Australian banks as it aims for its Dalgaranga gold project to be in production in mid-2018.
Australian shares are higher in early trade, ignoring a negative lead from the US where strength in technology stocks were unable to offset losses in energy shares after oil prices dropped.
Incitec Pivot has warned that its 2020 and 2021 full-year profits will be hit by the end of a contract to supply ammonium nitrate prill to mining giant BHP Billiton.
The auditor general has found major flaws in the state government’s Buy Local policy, with concerns regarding data collection leaving agencies unsure if the policy is benefitting local businesses.
Shares in junior lithium explorers MetalsTech and Force Commodities have spiked after the companies announced funding and joint venture agreements, while European Lithium will tap investors to progress its lithium project in Austria.
The Australian economy expanded at a slower-than-expected rate in the three months to September, however WA’s domestic economy appears to be on the mend, growing 0.9 per cent for the quarter.
Technology companies Syntonic and Family Zone are planning to grow their respective international customer bases after announcing separate $5 million share placements today.
Shares in newly listed Parkd finished up 25 per cent today after the Perth-based company raised $6 million through a strongly supported initial public offering.
The Australian share market has slipped in early trade, as overnight declines on Wall Street and a pullback in commodity prices weigh on investor sentiment.
Perth-based security services provider Threat Protect has expanded its customer base on the east coast with the $2.4 million purchase of two NSW security monitoring businesses.
Western Australia's automotive industry has registered a second straight month of strong growth in new vehicle sales relative to 2016, with solid increases in purchases of light and heavy commercial vehicles in November.
Finders Resources has urged its shareholders to reject a takeover bid from Indonesian group Eastern Field Developments after independent expert Deloitte valued the copper miner well above the 23 cents offer price, despite Finders’ share price continuing to hover near that mark.
The Reserve Bank has left the cash rate unchanged at 1.5 per cent, with the central bank remaining concerned about sluggish spending and wages growth despite an improving jobs market.
