GWR Group has joined a growing list of companies aiming to start small iron ore mines in WA, after signing a term sheet with contractor Pilbara Resource Group.
Two days after announcing a deal to buy a mine camp for its planned Sulphur Springs copper-zinc project, Venturex Resources has issued a follow-up statement with details of the purchase.
One-time WA iron ore miner Moly Mines, which was delisted from the ASX early this year with nearly 4,000 shareholders and $63 million in the bank, has struck a deal to buy copper stock Queensland Mining Corporation.
Nearly 4,000 shareholders in West Perth company Moly Mines have effectively become stranded in the $63 million cashbox after a stand-off between its board and the ASX ended in a delisting of its stock.
Moly Mines has appointed Graeme Kininmonth as its new acting chief executive, replacing former acting CEO David Pass, as the company faces suspension from trading on the ASX following its failure t
Shares in cashed-up Moly Mines have slumped after the company's two most senior executives left the business and it admitted it was likely to suspend trading on the ASX after failing to acquire a new business.
Paul Eagland has resigned from Moly Mines as non-executive director.Mr Eagland held the position at Moly since 2013 and is the fourth director to resign from the company in three months.
Moly Mines has announced another boardroom shakeup in the wake of the arrest in Hong Kong earlier this week of one of the company's major shareholder's senior executives.
The boardroom twists at cashed-up Moly Mines have taken another turn, with its Chinese shareholder moving to replace the independent directors with Perth veterans Bruno Camarri and Peter Mansell.
Moly Mines shares have shot up on the ASX after the company announced it had signed a mine gate sale agreement with Mineral Resources worth up to $38 million for output from its Spinifex Ridge iron
Laverton-focused gold explorer Midas Resources has appointed Derek Fisher as a non-executive director, to replace Terry Streeter who has resigned from the board.
China's Hanlong Mining Investments has been successful in its bid to ditch three independent directors from the board of Perth-based gold, copper and molybdenum miner Moly Mines.
Western Australia's pipeline of significant non-iron ore projects is showing signs of a quick slowdown as construction of major projects is due to be completed by the end of next year.
Moly Mines has postponed its US$720 million Spinifex Ridge molybdenum project in the Pilbara, admitting that the mine development was not commercially viable at current market prices.
Moly Mines has secured $US500 million in financing agreements to fund the construction of its Spinifex Ridge molybdenum-copper project near Port Hedland.
THE past seven years have been anything but smooth sailing for Derek Fisher and his team at Moly Mines, with attempts to become Australia's only molybdenum producer foiled by the GFC and the commodity's fluctuating price.
Perth-based iron ore miner Moly Mines has announced that it will enter into a $600 million engineering contract with one of China's top engineering companies and ASX-listed GR Engineering Services to develop its Spinifex Ridge molybdenum project.
Engineering and construction firm Forge Group is searching for a new managing director, after its current boss, Peter Hutchinson, stepped down in a move he says will drive the company's next phase of growth.
The Chinese majority owner of Moly Mines, Hanlong Mining Investment, has received Chinese government approval for a $US466 million loan to complete financing for the Spinifex Ridge molybdenum-copper project in the Pilbara.
Shares in Moly Mines have been lifted following the company's completion of the Chinese-backed transaction resulting in Hanlong Mining Investment becoming Moly's controlling shareholder after settling the $US200 million equity and debt funding.
The head of Moly Mines is confident of receiving the final two approvals required from the Chinese government to initiate financing and development of its Spinifex Ridge project before the end of February.
The Foreign Investment Review Board has given the green light for a Chinese entity to take a controlling interest in Perth-based Moly Mines, in a $US200 million deal that was first unveiled a month ago.
Shares in Moly Mines surged higher today after the company last night announced a $US700 million deal with privately-owned Chinese company Hanlong Mining Investment for its flagship Spinifex Ridge molybdenum project in the Pilbara.
Moly Mines has today announced the terms of its $C31.5 million ($A33 million) capital raising, a necessity for the restructure of its $US150 million financing facility.
MOLY Mines has revealed plans to raise at least $30 million as part of debt restructure plans and to fund the $10 million development of its iron ore deposit while it progresses its Spinifex Ridge
Molybdenum miner Moly Mines today announced the Spinifex Ridge Molybdenum Project was poised for immediate implementation, despite the economic slowdown.
Moly Mines Ltd says it will instigate a "concerted" cost reduction program across all its activities to conserve cash, as it successfully draws down the remainder of its $US150 million ($A220 million) interim facility.
West Perth-based Moly Mines Ltd has reported a net profit of $4.3 million for the 2008 financial year, a turnaround from the previous year's net loss of $757,131.
