Incremental Petroleum Ltd has recommended its shareholders reject Cooper Energy Ltd's $86 million takeover offer, saying the offer undervalues the company by some 70 per cent.
Strong investor support for Perth-based Golden Gate Petroleum has boosted the company's capital raising efforts, with stakeholders raising a further $400,000 over the $4.7 million target.
The Australian stock market has clocked up its second-worst trading day for the year, closing down 5 per cent to its lowest point in three-years as panic selling engulfs markets around the world due to growing fears about the global financial crisis.
West Perth-based Adamus Resources Ltd has raised a further $1 million through a private placement with Resource Capital Funds, after last month raising over $2 million.
West Perth-based Centaurus Resources Ltd has offloaded most of its Australian assets to Clancy Exploration Ltd for $300,000 in a bid to focus on its portfolio of projects in Brazil.
Former managing director of Home Building Society, Craig Coleman, has joined the board of Perth-based Amcom Telecommunications as a non-executive director.
The global financial turmoil has forced Nexus Energy Ltd to look for other potential buyers of a 25 per cent stake in the Crux light oil project offshore Western Australia, after the original buyer pulled out of the $356 million deal.
Leighton Properties Pty Ltd said it expects to lodge a bid for the Capital Square site after confirming that negotiations with the property's joint venture partners, Saville Australia and Babcock & Brown, have been terminated.
Creditors of the collapsed Palandri Wine Group have today voted overwhelmingly in favour of placing the company into liquidation, but a return figure has yet to be determined as suspect transactions warrant further investigation.
It may be a long wait for exploration company TNG Ltd which anticipates a judgment for a $2.1 million claim from the Commonwealth government to be delivered mid next year.
The former Western Australian government's $37 million investment into streamlining the state's resource approval process has largely failed, according to a report by the Auditor General.
ABM Resources NL plans to raise an extra $3.2 million dollars through a share purchase plan, after successfully raising $1 million through a placement to clients of Blackwood Capital Ltd.
Takeover target Incremental Petroleum Ltd has upheld its advice to shareholders to take no action on Cooper Energy Ltd's offer, as its posts an 18 per lift in revenue for the September quarter despite falling oil prices.
Toronto-listed Waratah Coal Ltd has urged its shareholders to take no action against a hostile bid by acquisitive billionaire Clive Palmer, who recently launched a takeover for a Western Australian iron ore play.
O'Connor-based BrainyToys Ltd is looking to raise additional funds after reporting a net loss of $4 million for fiscal 2008 and a working capital deficiency of $1.1 million.
The state environment watchdog has recommended a proposal by the Water Corporation for the development of a desalination plant at Binningup, with the final nod of approval now needed from new Environment Minister Donna Faragher.
The potential merger between CBH Resources Ltd and Perilya Ltd will have to go ahead without the Mount Oxide copper project, after formal agreements were executed for the $20 million scrip sale.
Subiaco-based explorer Vital Metals Ltd said it will reduce the pace of work on the feasibility study on its Watershed project in an effort to conserve cash in the current financial climate.
Energy retailer Synergy has rejected claims by the Food Industry Association that it engaged in price gouging following the gas explosion at Varanus Island in June.
Emerging producer Atlas Iron Ltd expects to disclose its off-take arrangements shortly as it today received the final environmental approval for its Pardoo iron ore project in the Pilbara.
Vehicle sales in Western Australia have suffered an almost 6 per cent fall in September with car companies including Holden, Mitsubishi and Hyundai enduring substantial falls.
Fairstar Resources Ltd is facing potential court action from Findlay & Co Stockbrokers (Underwriters) Pty Ltd, for the alleged failure to pay $4.5 million for advisory work costs related to a takeover.
The state corruption watchdog has recommended that former deputy of the resources department, Gary Stokes, be prosecuted after finding he engaged in serious misconduct for supplying information to disgraced former premier Brian Burke.
