Sirius Resources

FEATURE: It has been a difficult year for many of WA’s listed entities, but investors are backing the performance of most of the state’s top executives.

Central Norseman Gold Corporation has made 33 staff redundant as Australia's longest continuously-running gold mining operation faces an uncertain future.

The Waterberg Coal Company was Western Australia’s best-performed listed entity in 2013, providing a whopping 38,748 per cent return to shareholders, according to BNIQ data.

Veteran mining engineer Robert Dennis has been appointed chief operating officer at Sirius Resources.Mr Dennis most recently held the role of COO at Poseidon Nickel for more than six years and at Aditya Birla Minerals previously. 

Perth-based Rumble Resources has signed an earn-in agreement with Blackham Resources for the acquisition of up to 75 per cent of the Zanthus project inside the Albany Fraser Tectonic Zone in the State’s south west.

Sirius Resources has taken full ownership of its highly-rated Nova-Bollinger nickel deposit, buying out major shareholder Mark Creasy’s 30 per cent stake for a stock and cash package worth nearly $200 million at today’s share price.

SPECIAL REPORT: The gold and technology sectors have experienced a boost in investment activity for the March quarter, but doubts remain over whether it will last.

Sirius Resources says it is close to securing consent to mine at its Nova nickel deposit from the the traditional custodians of land covering the project in the Goldfields.

The latest round of Western Australia’s Exploration Incentive Scheme will pump almost $5 million into the search for minerals and petroleum at a crucial time for the state’s resources industry.

FEATURE: An investment in each of the 10 largest capital raisings by companies in Western Australia during 2013 would be 14 per cent underwater at current prices, according to research conducted by Business News.

FEATURE: Tech-related stocks make up half of this year’s top 10 TSR performers, but resources stocks feature prominently over the longer term.

Balcatta-based Sirius Resources says it's Nova nickel project near Norsemen will cost around $473 million to develop, according to a definitive feasibility study released today.

Balcatta-based Sirius Resources has announced a $189 million capital raising to help develop its Nova nickel project near Norseman.

Great Western Exploration has announced the appointment of Terry Grammer to its board as a non-executive director.

Sirius Resources has inked a mining agreement with the Ngadju people, paving the way for the development of the world-class Nova nickel deposit near Norseman.

Balcatta-based Sirius Resources has been granted a mining lease by the Department of Mines and Petroleum for its proposed Nova nickel project near Balladonia.

Investor interest in base metals stocks is rising, as iron ore process continue to slide south.

Cassini Resources, the five cent explorer that quickly graduated to a 25 cent stock in April after acquiring BHP Billiton’s West Musgrave nickel-copper project has taken a share price hit in its stride as it seeks to educate the market on its as yet unrealised potential.

It has been a tough quarter for dealmakers as commodity and share prices slump but some players see promise in the market shake-out. This Special Report includes a fully updated database with 146 deals for the quarter and an updated stockbrokers list.

Karl Simich and Mark Bennett are justifiably annoyed at having the companies they run added to an investment blacklist; but behind their frustration there is an enormously serious issue for every member of a superannuation fund – and that, in theory, is every working and recently retired Australian.

PYBAR Mining Services is positioning itself to take on the two dominant contractors in underground mining, after making two acquisitions in Western Australia and being named as preferred contractor for a new mine.

Bringing personal views to managing other people’s money is tricky.

A WA mining executive believes it’s time the corporate sector was better educated on the way indigenous communities like to do business.

The combined wealth of WA’s richest public company directors fell by around $3 billion in the past year, but some individuals bucked the trend.

Money is moving out of iron ore but where it goes next is the more interesting question, because it seems that some investors are developing a taste for agriculture – a shift that might prove to be a case of leaving the frying pan to land in the fire.

Like all businesses, university assets funds should be put to work.

Sandfire Resources has filed proceedings in the Federal Court against the Centre for Australian Ethical Research over media releases published on its website last month, which Sandfire argues contained “misleading and deceptive” information.

Sirius Resources has named the preferred contractors for various works at its $473 million Nova nickel project near Norseman, however contract values have not been disclosed as final terms are yet to be completed.

The tougher business climate has prompted some WA companies to cut executive salaries, but most have held the line and some have even awarded pay rises.

Kerman Contracting has continued its run of success this year, securing a contract to develop new infrastructure at Rio Tinto’s Pilbara iron ore operations and in the process lifting its work in hand to $290 million.

Sirius Resources has secured $440 million to fund the development of its Nova nickel mine, coinciding with it receiving mining approval from the Department of Mines and Petroleum.

There are not many mining projects on the cards for WA, but there are still opportunities in the sector for engineers and contractors.

Kerman Contracting will begin building accommodation facilities at Sirius Resources’ Nova nickel project near Norseman, two months after being named the preferred contractor for the $23 million job.

Shares in Perth-based explorer Sirius Resources were up nearly 10 per cent today after it announced a gold discovery at its Polar Bear project near Norseman.

Sirius Resources has chopped $30 million off the cost of developing its Nova nickel project after getting final prices from contractors, including Barminco, which started work at the remote site east of Norseman this week.

Sirius Resources managing director Mark Bennett said today the company could be a gold miner before it becomes a nickel producer, following positive drilling results at its Baloo deposit.

GR Engineering Services has been named the preferred tenderer for the processing plant at Sirius Resources’ Nova nickel mine in the Fraser Range.

The news from the iron ore and petroleum sectors may be disheartening for producers and investors alike, but another of Western Australia’s mineral exports is proving as resilient as stainless steel.

Sirius Resources has signed an offtake agreement with Dutch commodity trading company Trafigura for copper from its Nova mine in the Fraser Range.

Mining contractor Barminco has posted a small increase in underlying earnings in the March quarter, as cost reductions and efficiency measures offset a dip in quarterly revenue to $123.9 million.

Perth-based explorer Gold Road Resources has appointed GR Engineering Services to undertake pre-feasibility process and mining studies at its Gruyere project east of Laverton.

An expanded Independence Group would hope to eventually enter the ASX100, chief executive Peter Bradford told a Western Australian Mining Club lunch yesterday.

Sirius Resources, which is in the middle of a takeover by Independence Group, has formally awarded GR Engineering Services a $114 million engineering, procurement and construction contract at its Nova nickel mine in the Fraser Range.

Cost cutting can only take a business so far, and with tough times set to continue for mining services contractors, innovation and diversification have a big role to play. Click through to see more on our Mining Services feature.

The state government has provided a further $4.6 million for drilling and prospecting activities at 44 projects in Western Australia, including Fortescue Metals Group’s Trifecta base metals project.

West Perth-based explorer Legend Mining will buy a large block of land in the Fraser Range and form an exploration joint venture with the highly successful prospector Mark Creasy.

Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.

Nickel explorer Rumble Resources says a recently completed drilling program at its Zanthus project in the Fraser Range has turned up nothing of value.

GR Engineering Services has been awarded another contract at Sirius Resources’ Nova nickel project, bringing the value of its workbook at the project to $126 million.

Sirius Resources has announced that it has nominated Belmont-based Zenith Pacific as its preferred tenderer to build, own, operate and maintain a combined diesel-solar power station at Sirius’ Nova nickel project in Fraser Range.

Sirius Resources has sold off all of the nickel and copper it plans to produce out of its Nova mine in the first three years, after signing an offtake agreement with Glencore today.

Higher gold sales and lower exploration spending have boosted diversified miner Independence Group’s full-year net profit by 58 per cent to $77 million.

Stakeholders in Sirius Resources have shown their support for the proposed acquisition by Independence Group, with three recommendations passing by an almost unanimous vote.

Diversified miner Independence Group has slashed its workforce by 28 positions at its Long Operation in Kambalda, as it implements a number of cost-saving changes to its mining plan in response to the depressed nickel market.

Woodside Petroleum’s ambitious play for Oil Search is a rare example of a Perth-based company being the bidder in a big takeover. Click through to see Business News’ listing and analysis of $1 billion-plus M&A deals in WA over the past 20 years.

Former Sirius Resources managing director Mark Bennett said there has been a “tidal wave” of offers from other groups wanting to work with his new exploration company, as he seeks to replicate the Sirius success story.

SPECIAL REPORT: For the second year running, the value of shares held by company directors in WA has fallen sharply, though some operators defied the trend.

Talisman Mining, Evolution Mining and Kalgoorlie Consolidated Gold Mines are among a number of miners to win state government exploration grants, with gold, nickel and copper the most popular commodities targeted.

SPECIAL REPORT: The 2015 CEO salary survey has some surprising names near the top of the list while some of the state’s best chief executives are unexpectedly low down.

SPECIAL REPORT: Local firms Azure Capital and Hartleys punched above their weight in 2015 in what was a lucrative year for a handful of top corporate advisers in WA. Click through to see which corporate advisers, lawyers and brokers managed 470 M&A and capital raising deals.

Gold and nickel miner Independence Group plans to make about 40 employees redundant after announcing it would cut exploration spending by $20 million in response to weak base metals prices.

Gold and nickel miner Independence Group has posted a first-half loss of $78 million on the back of impairments and the acquisition of Sirius Resources late last year.

SPECIAL REPORT: There’s no doubt the boom has come to an end, but plenty of opportunities and projects remain in play.

Mark Bennett has left the board of Independence Group to focus his attention on his gold exploration company S2 Resources.

Mark Bennett’s gold hopeful, S2 Resources, has tapped investors for a $12.1 million capital raising to fund ongoing work at its Polar Bear project near Norseman.

Gold and nickel miner Independence Group has announced a $280 million capital raising to bolster its balance sheet, making it the largest raising by a Western Australian company for 2016.

Legend Mining has sold its stake in gold and nickel miner Independence Group for $4 million, with the local explorer netting about $2.5 million profit from the sale.

Diversified miner Independence Group has booked a $58.8 million net loss for the 2016 financial year, on the back of acquisition costs and lower commodity prices.

ANALYSIS: It has been a high-profile week for extremely private explorer Mark Creasy, with two major pieces of news that appear likely to add to his already significant wealth.

The first cargo of concentrate from Independence Group’s Nova nickel mine has been dispatched to Kambalda, with the site’s processing plant to reach nameplate production capacity of 1.5 million tonnes per annum in the middle of next year.

Gold and nickel miner Independence Group has expanded its presence in the Fraser Range after entering into an agreement to farm-in to Orion Gold’s tenements in the area for an initial $2 million in cash and scrip.

S2 Resources chairman Jeff Dowling and Clayton Utz partner Stephen Boyle have been named incoming directors of Fleetwood Corporation, while Michael Hardy has retired from board.

A new gold exploration company led by former Doray Minerals boss Allan Kelly and backed by Evolution Mining has announced plans to list on the ASX, whilst two other junior miners have joined the bourse after completing backdoor listings.

Independence Group has officially opened its Nova nickel-copper mine in the Fraser Range, making it the company’s fourth producing operation.

SPECIAL REPORT: The five WA people with the largest holdings in listed companies have earned around $1.5 billion in dividends in the past five years, with Andrew Forrest and Kerry Stokes leading the way. Click through for our list of 50 directors and investors with holdings worth more than $11 billion between them.