Financial Services

Mining companies are urging the state government not to squander the current resources boom, as mineral exploration expenditure in WA hits a 20-year high.

The chairman of Applecross-based engineering services giant Monadelphous Group Ltd, John Rubino, has sold a quarter of his holding in the company for $15 million.

Nedlands-based information and technology company ISS Group Ltd will provide its shareholders with a capital return of 6 cents per share, subject to the approval of the plan by shareholders at a general meeting to be held on or around 16 November 2007.

Shareholders in West Perth-based gold miner Artemis Resources Ltd have take up 96 per cent of the 50.8 million loyalty options it offered earlier this year, the company has announced.

Bibra Lake-based mining services company Mineral Resources Ltd will construct ore crushing and beneficiation facilities worth $300 million for West Perth-based Precious Metals Australia at the company's Windimurra vanadium project.

West Perth-based Tap Oil Ltd has entered into a gas sales agreement with a Western Australian customer for over five years, which it expects will generate $135 million in revenue.

Hamilton Hill-based barramundi producer Cell Aquaculture Ltd will relocate its Mississippi aquaculture operations to Las Vegas, Nevada, after losing and writing off $2.4 million on the site.

Henderson-based drill and blast company Brandrill Ltd has completed the acquisition of a 70 per cent stake in truck trays manufacturer DT-Hi Load Australia Pty Ltd for around $3.4 million.

West Perth-based Heron Resources Ltd has approved the commencement of trial mining and construction of the Demonstration Leaching Project on its Jump-up Dam Heap Leach Nickel Project, expected to cost $5.5 million.

Perth-based biotechnology company pSivida Ltd has completed enrolment for the first studies of absorption, distribution and metabolism of its diabetic macular edema treatment Medidur, the company has announced.

Premier Alan Carpenter has called on Federal Treasurer Peter Costello, who is visiting Perth today, to allocate more money to the State Government for infrastructure projects.

Diversified minerals explorer India Resources Ltd plans to raise up to $20 million to drive development of its Surda copper project in India and fund further exploration to leverage India's resources potential.

South Perth-based Aurium Resources Ltd has acquired a 37.5 per cent stake in gold exploration company Haven Resources Ltd for the issue of 7.5 million shares, worth around $1.3 million, the company has announced.

West Perth-based Jupiter Energy Ltd will pay Zher Munai & K LLP around $6.7 million and issue shares worth a further $2.3 million for sub surface rights on an oil permit in the Mangistau Basin in South West Kazakhstan.

Applecross-based engineering company Monadelphous Group Ltd has secured new minerals and oil and gas projects worth a total of $140 million, the company has announced.

Planning and Infrastructure Minister Alannah MacTiernan has called for a greater share of Federal Government funding for infrastructure funding to be distributed to Western Australia.

Leading shareholders of Orbital Corp have made an unsuccessful attempt top entice billionaire founder Ralph Sarich to reinvest in the Balcatta engine technology company.The West

The discovery of a bashing victim in Melbourne lead to revelations of a new approach to Australia's refugee intake as Paul Omodei discovered allegations of plagiarism by Attorney General Jim McGinty, plus Pulp Mill, Hospitals, Autism, Teachers and Pauline

Former Hallmark Gold NL and Welcome Stranger Mining Company NL directors Stuart Adrian Corp and Brian Millwood Smith, have been found guilty of 29 charges brought after an investigation by the Australian Securities and Investments Commission.

Applecross-based financial services company Questus Capital Group Pty Ltd is seeking a backdoor listing on the Australian Securities Exchange through failed Belmont-based company Financial Resources Ltd.

West Perth-based LinQ Capital Ltd, which is under pressure from UK shareholder Carrousel Capital to improve its share price, will renew its unit buy-back from October 19.

Perth-based metals explorer Windy Knob Resources Ltd will raise $900,000 through the placement of 3 million shares at 30 cents each to fund the company's ongoing exploration commitments.

Belmont-based gold and base metals explorer Great Australian Resources Ltd will acquire the remaining 50 per cent stake of Platinum Mining Ventures Ltd for a scrip issue of 17.5 million shares, worth around $4.9 million.

A decision by Federal Agricultural Minister Peter McGauran to expedite exceptional circumstances funding for drought affected farmers in the wheatbelt has been welcomed by State Agriculture Minister Kim Chance and WAFarmers President, Trevor De Landgrafft

The State Government will spend a further $1 million on the fight against cane toads, Premier Alan Carpenter announced today, with funding going towards research and community groups.

Malaga-based Advanced Engine Components Ltd has announced plans to raise $2.3 million through a non-renounceable rights issue to provide the company with additional working capital.

Sphere Investments admits problems with investment deal; ANZ cancels West Coast Eagles sponsorship; ABB grain facin $10m losses; Gunns will push ahead with Tasmanian pulp mill; Federal Govt has its hospitail funding share by 10 per cent.

South Perth-based seafood processor Sam's Seafood Holdings Ltd has completed its recapitalisation fund raising, earning $1.7 million through the issue of 292.8 million shares and 30 million options.

West Perth-based Sphere Investments Ltd has joined fellow iron ore developer Cape Lambert Iron Ore Ltd in hitting a potential funding crisis, after disclosing that one of its partners was reviewing its planned participation in a $415 million funding deal.

Guilford-based Swick Mining Services Ltd has announced a share placement to raise $28 million to expand its underground diamond drilling division, in conjunction with a partial sell-down by the Swick family of $40 million worth of shares.

Bibra Lake-based rubber recycling and manufacturing company Reclaim Industries Ltd has been awarded a $567,500 grant by the Federal and South Australian governments for their increased investment in the state.

West Perth-based engineering services company Neptune Marine Services Ltd has secured a series of new diving and maintenance related projects in the United States and Australia.