Sirius Resources

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.