Buxton Resources

West Perth-based gold and base metals explorer Buxton Resources Ltd has opened its initial public offer, aiming to raise $5 million to fund drilling and identification of future acquisition opportunities.

Western Australian metals explorers Buxton Resources Ltd, of West Perth, and Nedlands-based GBM Resources Ltd traded steady after their debuts on the Australian Securities Exchange.

Investors who kept their money in Australia's top blue chip stocks enjoyed great returns in the 2012-13 financial year.The S&P/ASX 200 index gained 17.3 per cent last year, as the big banks, the major retail groups and Telstra enjoyed strong share price gains.

Perth explorer Buxton Resources has made plans to raise $2.6 million to fund drilling at its Yalbra graphite project in Western Australia, along Oaktree North and Zanthus Ni-Cu projects in the Fraser Range.

Buxton Resources has appointed former Fortescue Metals Group exploration and evaluation director Eamon Hannon as its new chief executive officer, as Anthony Maslin steps down as managing director.

Leaner times in the junior mining and exploration sector have resulted in widespread cuts to chief executive pay, but the restraint has not been shared equally across the sector, with some actually lifting salaries.

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.

Peter Cockcroft has resigned as a director of Kairiki Energy. Steven Wood has resigned as a joint company secretary of WHL Energy. 

Graphite players have posted strong share price gains in the past 12 months and raised $66 million between them, but they are struggling to kick off production of the mineral. 

Our board moves wrap includes Brett Woods, Morne Engelbrecht, Bruce Clement, Eamon Hannon, Martin Moloney, Warrick Hazeldine, Geoff Jones, Guy Robertson, and Dan Smith.

Provaris EnergyGarry Triglavcanin the founding executive director of Provaris Energy has resigned from his position on the board. However, Mr Triglavcanin will remain committed to the company stepping into a new position as product development director. Torque Metals