Business News

A slight improvement in economic conditions helped regional Western Australia’s regional median house price improve in the previous quarter, Real Estate Institute of Western Australia president Hayden Groves says.

Aspiring potash producer Danakali has tapped investors for $12.3 million as it moves ahead with development of its Colluli project in Africa.

Wellard, Australia’s largest cattle exporter, has appointed Chinese businessman Kanda Lu as executive director. Mr  Lu replaces Greg Wheeler who has retired from the board.

The state government has introduced priority legislation that would give the auditor general new powers to audit local government councils, in order to raise the standard of accountability in the sector.

Professional services organisation KPMG hopes to better assist companies affected by changes to foreign worker laws after acquiring the Chamber of Commerce and Industry of WA’s migration services division for an undisclosed sum.

Perth-based Musgrave Minerals has tapped investors for $3 million to fund exploration work at its Cue gold project in the Murchison region.

Galaxy Resources has appointed Xi Xi as non-executive director.

Shares in sandalwood company Quintis have gone into a trading halt, after horrific losses last week including a nearly 36 per cent fall on Friday.

Perth-based director Andrew Chapman has survived a leadership reshuffle at tech company 1-Page after shareholders voted to keep him on the board but remove co-founder Joanna Riley as a director.

Former Google executive Lee Hunter has been named chief executive of advertising technology company Tech Mpire, succeeding Luke Taylor who will remain with the business in another role.

Engineering and construction contractor Decmil Group has sold its Osborne Park headquarters to Primewest Funds for $27.5 million.

Roby Zomer, founder of MGC Pharmaceuticals, has been appointed chief executive officer. Mr  Zomer was its executive director and chief technical officer prior to this appointment.

Rox Resources and Marindi Metals will head to trial to resolve a dispute over the Reward zinc joint venture in the Northern Territory.

Premier Mark McGowan will seek to freeze the wages of all politicians, public service heads, judges, magistrates, the WA governor, and local council chief executives for the next four years, while offering a $1,000 increase to all public sector employees.

West Perth-based Australian Potash has completed native title work for its Lake Wells project in the Goldfields, and is expected to commence work on a feasibility study in coming months.

Gold hopeful Impact Minerals is aiming to raise $4 million through a share purchase plan to fund exploration at is Commonwealth gold-silver-base metals project in NSW.

West Perth-based gold miner Beadell Resources has started work on a $US28 million plant upgrade project at its Tucano gold mine in Brazil, with commissioning to get under way in the middle of 2018.

The state government has confirmed that Perth Stadium will not be ready to host the Ashes cricket Test in December this year, saying the first confirmed event was an Ed Sheeran concert on March 3 2018.

Australian Potash has appointed Rhett Brans and Brett Lambert as non-executive directors. Brenton Siggs and Dean Goodwin have resigned from the board.

Local law firms make moves

Hexagon Resources has announced several changes to its board and management. Current non-executive director, Charles Whitfield, has been appointed chair.

Perth-founded wearable technology company Nuheara has raised a total of $4.65 million, substantially less than its $7 million target. 

Resources companies look set to get out their drill bits this year, with the number of exploration applications made to the state government up nearly 50 per cent in the March quarter compared to the same period in 2016.

West Perth-based Liquefied Natural Gas has scored a tick from a US regulator for initial site work at its Magnolia project in Louisiana, although a final investment decision won't be made until it has finalised offtake partners.

Leederville-based cycling products developer Cycliq has completed a $2 million placement and plans to raise an additional $1.5 million through a rights issue, a week after the company’s two founders stepped down from their executive roles.  

Anti-drone software specialist Department 13 International has tapped investors for $5.5 million to meet customer demand for its Mesmer technology.

Heron Resources has awarded CIMIC Group subsidiary Sedgman a $107 million engineering, procurement and construction contract for a processing facility at its Woodlawn zinc-copper project south of Sydney.

Coventry Group has appointed current chief financial officer Robert Bulluss as chief executive.  Mr  Bulluss has been acting chief executive since March, and will step down as company sec

Only three months after being named chief executive of iCollege, former Perth Wildcats owner Andrew Vlahov has resigned from the company, which also announced the acquisition of a UK-based child care training provider.

Nano-satellite maker Sky and Space Global has bolstered its cash reserves after completing a $10 million capital raising.

Gold explorer KIN Mining has raised $10.2 million from investors to fund new exploration at its Leonora project.

Martin Purvis is leaving his post as managing director and chief executive of Troy Resources to take on the same responsibilities at mineral sands miner MZI Resources, following Trevor Matthews’ resignation in November.