Rebecca Lawson

Cazaly Resources has had to terminate a $4 million capital raising after it received indications that it was unlikely to get the funds.

Shares in Essa Australia have slumped after the minerals testing company today said it expects to book an operating loss for the first half of the 2010 financial year.

Progress towards a final investment decision for the $20 billion Wheatstone project is gathering pace with operator Chevron today awarding the offshore component of a key contract to Technip Oceania and WorleyParsons subsidiary, Intecsea.

Western Australians are expecting a bumper Christmas period with two surveys out today showing business confidence at a two-year high while consumers will maintain previous festive season spending levels.

West Perth-based uranium outfit Raisama has made a premium debut on the Australian Securities Exchange today with its share price closing at 51 per cent above its issue price.

The national and state governments have given the Browse joint venture partners four months to decide on a development path for the project and three years to make a final investment decision as a condition of a lease renewal arrangement.

Brainytoys has called in Bryan Hughes of Pitcher Partners as administrator to the company, ending more than a year of uncertainty surrounding the Perth toy company.

Property developer Aspen Group has secured a new $20.5 million banking facility which will allow it to pay back its short-term debt and create more headroom under an existing senior facility.

Perth-based engineering and construction contractor AusGroup has secured a $30 million contract from Woodside Energy to provide fabrication services at the oil and gas producer's facilities in WA's north.

Shareholders in Peel Exploration have today blocked an attempt by Michael Kiernan to install himself on the board and remove directors Simon Hadfield and Craig McGown.

East Perth-based Metals X will pocket a total of $76 million after the Foreign Investment Review Board today approved a project acquisition by a Chinese entity and an equity investment by another.

Woodside Petroleum says it will not reverse a decision to change new accommodation arrangements at its $12 billion Pluto gas project despite workers today going on an illegal 48-hour strike.

Gold plated shovels have been used to turn the first sod on the massive $43 billion Gorgon natural gas project on Barrow Island, off the state's Pilbara coast.

Burswood-based Kangaroo Resources has raised $30 million for the purchase and development of a number of coal assets in Indonesia.

Investment in the state's growing liquefied natural gas sector will total between $10 billion and $25 billion each year for up to 10 years, analysts say.

West Perth-based oil and gas explorer Red Sky Energy has raised $4.5 million, with strong interest from institutional investors.

The Foreign Investment Review Board has given the green-light for a Chinese entity to jointly own a proposed alumina refinery in the south west of WA with Bauxite Resources.

The rental market is expected to come under pressure as new data out today shows the median house price in Perth has climbed 6 per cent in the year to October while sales of new homes fell.

Mining services company Mineral Resources has secured a long-term sales agreement with Baosteel Group Corporation and finalised a $52 million placement.

Quickstep Holdings has today revealed plans to raise close to $18 million as it gears up to secure the $700 million Joint Strike Fighter program.

The state government has today unveiled plans to develop Karratha and Port Hedland into more liveable cities, modeled on Darwin rather than Dubai, in a bid to soften the Pilbara's hostility to new arrivals and meet the need for expanded services in the re

Shares in Perth-based developer Axiom Properties have surged higher today after it secured a government entity as a tenant for a Melbourne property, which is expected to generate $14 million.

Producer Tap Oil has received a revenue boost after it today reached an unconditional $US21 million ($A23 million) final settlement with its insurers over the Varanus Island gas explosion.

Activity in the initial public offer market is heating up with two more Perth-based companies planning to raise a combined $22.5 million for their floats while WA carrier Skywest Airlines plans a return to the Australian bourse next month.

Aviva Corporation is on the hunt for new resource opportunities as several managers leave and some directors take a pay cut, following the decision to sell its flagship Coolimba power project.

Aurox Resource has today released revised figures for the development of its Balla Balla iron ore-vanadium-titanium project in the Pilbara, with capital cost estimates at a total of $2 billion.

Subiaco-based Gryphon Minerals will ramp up exploration work at its Banfora gold project in Burkina Faso after it today said it had raised $20 million through a share placement.

Grange Resources expects discussions with financiers to pick up after it today received final state approval for its Southdown magnetite iron joint venture near Albany.

CBH Resources has decided to develop its Panorama copper-zinc project in the Pilbara as an underground mine with capital costs estimated at $150 million.

North Perth-based Doray Minerals has joined a growing list of WA companies planning to list on the ASX next month, with the launch of its $8 million initial public offer this week.

Internet service provider iiNet has forecast underlying 2010 financial year earnings to increase by 19 per cent, but does not include a one-off $4 million legal cost for its film copyright case.

Monadelphous has tipped 2009/10 revenue to remain stable with the energy and infrastructure markets expected to insulate the engineering company.