Fraser Beattie

Shares in North Fremantle-based Kingston Resources have surged on news the company plans to raise $6.8 million to fund the purchase and exploration of several lithium tenements in Western Australia and the Northern Territory.

Western Australia's peak business group has welcomed the state government's budget, but other business groups believed more could have been done for their respective sectors. 

The state budget assumes iron ore prices will average about $US47.70 a tonne in the coming financial year, substantially higher that what most forecasters have been tipping, and also includes a $41 million royalty concession for magnetite producers.

The Australian Securities Exchange has confirmed plans to toughen its listing requirements to maintain the integrity of the market, including changes that will address what it says are emerging issues with backdoor listings.

Embattled Perth Lord Mayor Lisa Scaffidi has lost the support of her deputy, with James Limnios calling for her to step aside following the release of another report into her conduct.

Junior gold miners Dynasty Resources and Orinoco Gold have announced plans to raise a combined $2.6 million to fund ongoing work at their respective projects.

Subiaco-based Paynes Find Gold is seeking to become a lithium miner through the reverse takeover and backdoor listing of a European mining company backed by local businessman Tony Sage.

The search is on again for local innovators and entrepreneurs to participate in the 10th anniversary of the WA Innovator of the Year program.

Australian energy company AWE has knocked back a $421.4 million takeover bid from a private equity firm, labelling the offer opportunistic and below fair value.

Aspermont has announced plans to raise up to $10 million by offering shares to investors and converting debt, as it seeks to shore up its balance sheet.

Perth Lord Mayor Lisa Scaffidi could face proceedings in the State Administrative Tribunal after a report tabled in parliament alleged that she failed to declare travel and gifts up to 45 times over seven years.

A Leederville-based company that makes camera and lighting accessories for cyclists is seeking an ASX listing through the reverse takeover of Voyager Global Group.

Local explorer IMX Resources is back on track to spin-off its graphite portfolio into a new ASX-listed entity, after addressing concerns raised by the corporate watchdog.

GR Engineering Services’ oil and gas services business has won a second major contract in as many days, with Origin Energy signing the subsidiary on for a $50 million job.

A US-founded tech company specialising in counter-drone systems has launched its prospectus for a $5 million initial public offering, with plans to list on the ASX by next month.

Local gold companies Azumah Resources and KIN Mining have released updates on their respective projects, with Azumah slashing the capital cost of its Wa gold project in Ghana by $US54 million ($A73 million).

Pilbara-focused Flinders Mines has recommended its shareholders accept an improved takeover offer from private New Zealand company Todd Corporation that values the target at about $74 million.

Three independent delegates have been chosen to reassess the state government’s Roe 8 highway extension project, which was knocked back by the Supreme Court in December.

Another head has rolled in the corporate watchdog’s investigation into Victoria Park-based car financing business Get Approved Finance, with Grant Parker permanently banned from the industry.

GR Engineering Services has won a $90 million contract to operate and maintain a floating production storage and offloading facility in the Timor Sea for Northern Oil & Gas Australia.

Diversified contractor Decmil Group has won $46 million worth of contracts with the Department of Defence, with work to be carried out across multiple states including Western Australia.

Billionaire Gina Rinehart has appointed a new executive director and a new chief executive at Hancock Prospecting and foreshadowed plans to recruit additional senior executives to run its commercial and agribusiness operations.

Committee for Perth chief executive Marion Fulker has been appointed chair of the state government’s new Conservation and Parks Commission.

Junior explorers Coventry Resources, Metals of Africa and Consolidated Zinc have tapped investors to raise a combined $13.7 million to fund ongoing development of their respective projects.

The state government has provided $16 million to ScreenWest to boost film productions in Western Australia.

Decmil Group has lowered its revenue guidance after announcing a number of one-off costs relating to the closure of one of its local business divisions, coupled with delays to a project and further restructuring, as it seeks to direct its business away from the resources sector.

Perth company director Sharon Warburton has been named as the incoming chair of a soon-to-be-established federal government fund that will have $5 billion to spend on infrastructure in northern Australia.

Philip Lowe will take over the reins as the governor of the Reserve Bank of Australia when Glenn Stevens retires in September.

Perth-based Swick Mining Services has flagged a $3 million net loss for the financial year, as the company works to improve productivity to weather the tough times for mining contractors.

Frasers Property Australia has sold a parcel of land in Port Coogee to Regis Aged Care for an undisclosed sum.

Shipbuilder Austal has signed a $305 million contract to build and maintain Pacific Patrol Boats for the Australian government, however the contract’s price tag was smaller than what the Commonwealth had flagged.

Junior miner Orecorp has raised $16.2 million from investors to fund development of its Nyanzaga gold project in Tanzania.