CHANGES IN DIRECTORS’ INTERESTS | FOR THE RECORD I
INCREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY ACQUIRED PER SHARE ($) COST ($) SECURITIES PER SHARE ($)* VALUE ($)*
Azimuth Resources Ltd Terence Harvey 17-Oct-12 100,000 0.400 40,000 100,000 0.400 40,000 A
Beadell Resources Ltd Peter Bowler 16-Oct-12 10,500,000 0.184 1,935,000 25,043,333 0.945 23,665,950 C
Cape Lambert Resources Ltd Tony Sage 17-Oct-12 221,579 0.275 60,934 41,790,430 0.265 11,074,464 A
Coziron Resources Ltd Adam Sierakowski 18-Oct-12 50,000 0.090 4,500 3,080,000 0.090 277,200 A
Emeco Holdings Ltd Keith Gordon 17-Oct-12 475,000 nil nil 1,125,000 0.680 765,000 I
Ferrowest Ltd Brett Manning 15-Oct-12 22,500 0.027 608 3,306,000 0.030 99,180 A
Ferrowest Ltd Brett Manning 15-Oct-12 29,000 0.026 754 3,335,000 0.030 100,050 G
Focus Minerals Ltd Gerry Fahey 12-Oct-12 641,000 0.039 25,273 641,000 0.038 24,358 A
Hillcrest Litigation Services Ltd Alan Van Noort 12-Oct-12 16,667 0.010 167 40,571,490 0.010 405,715 A
Iron Mountain Mining Ltd Simon England 09-Oct-12 137,500 nil nil 1,337,500 0.032 42,800 F
Iron Mountain Mining Ltd Zhukov Pervan 09-Oct-12 416,667 nil nil 2,516,667 0.032 80,533 F
Iron Mountain Mining Ltd David Zohar 16-Oct-12 280,000 0.040 11,200 39,207,632 0.040 1,568,305 A
Iron Mountain Mining Ltd David Zohar 16-Oct-12 250,000 0.038 9,500 39,457,632 0.040 1,578,305 A
Iron Mountain Mining Ltd David Zohar 19-Oct-12 91,648 0.040 3,666 39,549,280 0.045 1,779,718 A
Metals X Ltd Peter Cook 18-Oct-12 1,376,505 nil nil 70,316,705 0.150 10,547,506 J
Minemakers Ltd Mark Lawrenson 18-Oct-12 250,000 0.142 35,500 610,000 0.155 94,550 A
Montezuma Mining Company Ltd John Ribbons 16-Oct-12 500,000 0.200 100,000 791,671 0.250 197,918 C
Northern Iron Ltd Felix Tschudi 17-Oct-12 25,045,977 0.450 11,270,690 100,183,908 0.610 61,112,184 D
Northern Iron Ltd Ashwath Mehra 17-Oct-12 3,925,699 0.450 1,766,564 15,702,792 0.610 9,578,703 D
NRW Holdings Ltd John Cooper 18-Oct-12 10,000 1.971 19,715 20,000 2.120 42,400 A
Oroya Mining Ltd Kevin Moriarty 16-Oct-12 1,000,000 0.005 5,000 1,000,000 0.005 5,000 A
Seven West Media Ltd Donald Voelte 15-Oct-12 85,000 1.267 107,704 150,638 1.275 192,063 A
Terrain Minerals Ltd Justin Virgin 16-Oct-12 200,000 0.009 1,800 8,950,000 0.009 80,550 A
TFS Corporation Ltd Frank Wilson 18-Oct-12 400,000 0.390 156,040 45,688,379 0.400 18,275,352 A
DECREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY DISPOSED PER SHARE ($) REALISED ($) SECURITIES PER SHARE ($)* VALUE ($)*
3D Resources Ltd Ian Hastings 15-Oct-12 3,000,000 0.020 60,000 14,473,107 0.030 434,193 H
Montezuma Mining Company Ltd John Ribbons 16-Oct-12 25,003 0.264 6,596 766,668 0.250 191,667 A
Montezuma Mining Company Ltd John Ribbons 16-Oct-12 266,668 0.251 66,848 500,000 0.250 125,000 A
Northern Iron Ltd Felix Tschudi 17-Oct-12 33,050,180 0.555 18,326,325 67,133,728 0.610 40,951,574 A
*day of announcement A On market trade | B Off market trade | C Exercise of options | D Rights issue | E Share purchase plan | F Acquired as a result of the Iron Mountain Mining off-market takeover bid for every share in United Orogen | G On-market acquisition by Ferrore Pty Ltd, which Mr Manning as well as directors Barry Wyatt and Graeme Johnston all hold an indirect interest as a result of being directors and shareholders | H Transfer of shares held by Ascot Nominees Pty Ltd (of which Mr Hastings is a director and shareholder) as nominee of these shares to two shareholders of Ascot Nominees Pty Ltd | I Vesting of performance rights under the company's long term incentive plan | J Shares issued pursuant to merger by schemes of arrangement of Metals X Ltd and Westgold Resources Ltd long-term incentive Please direct enquiries to [email protected]
WA SCORECARD Compiled by Warrick Ambrosa, Economist, CCI
Previous levels New vehicle sales Monthly Indicators Period Latest Aug 12 Sep 11 Unemployment Rate WA Sep 12 4.0% 4.0% 4.2% THE number of vehicles sold in WA recorded another NEW VEHICLE SALES (000s) Seasonally Adjusted Rate Australia Sep 12 5.4% 5.1% 5.2% strong month of growth, increasing by 4.9 per cent 12 120 change during past: 11 110 Period Latest Month Year in September. Vehicles sales in the state now sit at 10 100 11,142, just below the record high of 11,703 vehicles 9 90 Employment WA Sep 12 1,301,000 0.9% 4.8% sold in April 2010. Over the year, sales of motor 8 80 Seasonally Adjusted Number Australia Sep 12 11,511,900 0.1% 0.5% 7 70 ANZ Job Vacancies WA Sep 12 1,174 -10.0% -33.2% vehicles increased by 19.3 per cent in WA. 6 60 Seasonally Adjusted Number Australia Sep 12 6,192 -3.6% -25.1% Every state and territory recorded strong growth in Sep 02 Sep 03 Sep 04 Sep 05 Sep 06 Sep 07 Sep 08 Sep 09 Sep 10 Sep 11 Sep 12 Residential Building Approvals WA Aug 12 1,828 16.1% 9.5% Seasonally Adjusted Number Australia Aug 12 12,046 6.4% -15.4% vehicle sales in September. As a result, vehicle sales WA (Left Axis) Australia (Right Axis) Retail Turnover, Current Prices WA Aug 12 $2.6Bn 1.4% 9.2% across Australia reached a record high of 98,701 units. Seasonally Adjusted Value Australia Aug 12 $21.5Bn 0.2% 3.2% Source: ABS Cat. 9314.0 New Motor Vehicle Sales WA Sep 12 11,142 4.8% 19.3% Seasonally Adjusted Number Australia Sep 12 98,701 4.7% 14.4% Exports WA Aug 12 $10.0Bn -1.0% -11.6% Merchandise imports MERCHANDISE IMPORTS $3.9Bn $39Bn Original value Australia Aug 12 $21.2Bn -2.4% -14.1% $3.4Bn $34Bn Imports WA Sep 12 $2.97Bn -7.6% 23.4% IMPORTS into WA fell by 7.6 per cent in September, $2.9Bn $29Bn Original value Australia Sep 12 $19.29Bn -10.8% -3.5% to $2.9 billion. Despite this monthly fall, imports were $2.4Bn $24Bn Australian Dollar Australia 27 Sep 12 US$1.04 0.4% 5.7% up by 23.4 per cent over the year to September. Total $1.9Bn $19Bn All Ordinaries Index Australia 28 Jun 12 4,085.6 -0.8% -9.5% $1.4Bn $14Bn imports into Australia dropped by 10.8 per cent over the $0.9Bn $9Bn change during past: $0.4Bn $4Bn month, or $2.3 billion, the largest fall since February Quarterly Indicators Period Latest Quarter Year Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep Sep 02 03 04 05 06 07 08 09 10 11 12 Consumer Price Index Perth Jun 12 155.5 0.5% 1.1% 2011. Imports into the nation are now valued at $19.3 Index, 1989-90 = 100 Australia Jun 12 155.5 0.5% 1.2% billion. WA (Left Axis) Australia (Right Axis) Full Time Ordinary Time Earnings WA Jun 12 $1,515.2 0.0% 2.9% Source: ABS Cat. 5439.0 Seasonally Adjusted $ per week Australia Jun 12 $1,351.2 0.4% 3.4% Population WA Mar 12 2,410,554 1.0% 3.1% Original, Number (Millions) Australia Mar 12 22,596,500 0.5% 1.5% China nominal GDP GROSS DOMESTIC PRODUCT Domestic Demand WA Jun 12 $41Bn 2.1% 15.9% China, Annual % Change CHINESE GDP rose in line with expectations, increasing 16% 16% Seasonally Adjusted, 2003-04 Prices Australia Jun 12 $326Bn 0.9% 5.8% 14% 14% Business Investment WA Jun 12 $11.9Bn 3.4% 45.9% by 7.4 per cent over the year to September, down from 12% 12% Seasonally Adjusted, 2003-04 Prices Australia Jun 12 $49.4Bn 1.3% 22.0% 7.6 per cent growth over the year to June. While growth 10% 10% Gross Domestic Product WA -- -- 8% 8% Seasonally Adjusted, 2003-04 Prices Australia Jun 12 $325.7Bn 0.6% 3.7% was in line with market expectations for the September 6% 6% Balance of Payments Goods & services Jun 12 $1.5Bn $4.9Bn -$7.0Bn quarter, it is still the slowest rate since early in 2009, 4% 4% Seasonally Adjusted Value Net Income Jun 12 -$9.3Bn $1.6Bn $2.9Bn when the GFC was impacting on the economy. 2% 2% Current Account Jun 12 -$8.1Bn $6.5Bn -$4.2Bn 0% 0% A significant slow down in the Chinese economy would Sep 02 Sep 03 Sep 04 Sep 05 Sep 06 Sep 07 Sep 08 Sep 09 Sep 10 Sep 11 Sep 12 Sources: Australian Bureau of Statistics, Reserve Bank of Australia, Yahoo! Finance, Real Estate Institute of Australia, International Monetary Fund, Economic & Social Research Institute of Japan, US Bureau of Economic Analysis, EuroStat. impact on the WA economy, given our close trade lines. Source: IMF WA Business News www.wabusinessnews.com.au October 25, 2012 | 21 I APPOINTMENTS | [email protected]
Buckley chief at Artsource Hernadi to Business Foundations Stabback to Wrays COMINGS AND GOINGS WA artist foundation Artsource has appointed Gabor Hernadi has been appointed as operations Asha Stabback has been appointed as brand and Gavin Buckley as chief executive officer. Mr manager at Business Foundations, a not-for- cultural services consultant at intellectual property Buckley was previously director of regions and profit that assists small businesses during the and trademark law firm Wrays, whose services Comings & Goings for WA’s listed companies business development at Arts & Business, a planning, start-up and early operations phase are being expanded to include branding solutions. have been sourced from the WA office of the ASX. UK-based charity. through one-on-one mentoring. Mr Hernadi was Ms Stabback was previously organisational previously program manager at the Centre for development consultant at Fortescue Metals Group • AACL Bradley joins P&N board Entrepreneurship at Curtin University. and senior adviser at Barrick Gold Corporation. Mark Griffiths has been appointed as interim chief financial officer, following the resignation Police & Nurses Mutual Banking has appointed John to Vantage Performance New Diabetes WA staff Ed Bradley to its board of directors. Mr Bradley of Ross Withers. • ADG Global Supply was previously head of strategic risk analytics at Business consultancy Vantage Performance has Ben Dahlstrom (pictured) Alcyone Resources chairman Charles Morgan Bankwest, and is currently on the board of not- appointed Richard John as a client director in its has been appointed as WA team. Mr John was previously chief operating general manager, marketing has been appointed as a non-executive director. for-profits Interchange Inc and Outward Bound • Argentina Mining officer at Focus Management Group in the US. and community relations at Australia. Sole independent director Doug Bright has Diabetes WA. Mr Dahlstrom is been appointed as chairman, following the Edwards to KPMG Gomez heads Matera a former managing editor of resignation of executive chairman Stephen Mark Gomez has been Medical Forum magazine. Phill Shedden as a director of the company. The Accounting firm KPMG has appointed as general manager Moncrieff, a Yamatji man and executive role has been made redundant as a appointed James Edwards as for Matera Construction and long-time Aboriginal affairs result of cost-cutting by the company. a director in the research and Matera Cabinetry. Mr Gomez worker, has been appointed as senior Aboriginal • Attila Resources development tax practice in joined the Matera Group as engagement officer. Former BHP and Bathurst Resources executive Perth. Mr Edwards previously Max Brunsdon and former Ampella Mining general manager construction worked for the Chamber of executive director, corporate, Evan Cranston early this year and, prior New board members at WDC Minerals and Energy. have been appointed as executive directors, to that, was construction The Wheatbelt Development Commission has following the resignations of non-executive manager at a WA mid-tier appointed former Royal Flying Doctor Service chairman Grant Mooney and non-executive construction company for over five years. (western operations) CEO Tim Shackleton as director Zlad Sas. • Aurora Oil & Gas New PPR hires board chair, and Karin Day as deputy chair. Price leads Arup Perth team Valerie Ammon from Gingin, Graham Cooper from Former Forest Oil senior vice-president of business development, Douglas Brooks, has Michael Price has been appointed as Perth civil Profess- Cunderdin, Anthony Nottle from Jurien Bay, and been appointed as chief executive officer, ional Carmel Ross from Bindoon have been appointed infrastructure team leader for engineering and based in the Houston, Texas, office. Current design firm Arup. Mr Price has relocated from Public to the board, following the retirements of Darren Relations executive chairman and CEO Jonathan Stewart Brisbane, where he was an Arup associate and West, Tracy Meredith, Paul Tomlinson and Shane will remain executive chairman. has worked on some of the firm’s notable projects Love. • Black Range Minerals including the Brisbane airport link and Gold Coast appointed Michael Haynes has resumed the role of rapid transit (stage 1). Georgia managing director. Mr Haynes has been a Sweet- Business moves director since 2005 and previously held the apple International technology firm HP has opened a managing director position until December last McGrath joins Virgin (far right) and Samantha Desport as account new office in Perth at Level 2, 251 Adelaide Tce. year. Beverley Nichols will resume the role of Virgin Australia has appointed Tony McGrath as managers. Ms Sweetapple was formerly director of Simon Ayres will be WA state manager. chief financial officer, following the resignation state manager Western Australia, South Australia Inspire PR and senior account director at Blackie of CFO and interim chief executive officer and Northern Territory sales, as part of an expanded McDonald in Sydney. Ms Desport has 20 years Software and data management firm Red Rock Michael Drew. structure of the airline’s national sales team to of experience directing PR campaigns in the UK. Consulting, a wholly owned subsidiary of ASX- • Peak Resources provide a state-based focus for the Australian She has taken on accounts at PPR that include listed UXC, has opened a new office in Perth at Former Archipelago Resources chief financial officer Jeff Dawkins has been appointed as corporate and travel industry markets. Australand and the Perth Fashion Festival. Level 14, Bankwest Tower, 180 St Georges Tce. chief financial officer.
The resources boom is over. Really?
22 | October 25, 2012 www.wabusinessnews.com.au WA Business News | FOR THE RECORD I
FACT FILE Compiled by Dan Wilkie
WA Company Listings the bidders, Prominvest, are seek- ing to acquire all of Northern Iron’s Burst of activity for sluggish shares as part of a highly conditional, IPO market non-binding indicative offer. 19-October-2012 by Dan Wilkie Imdex acquires data Signs of life are starting to emerge in the sputtering initial public offerings management firm for $8m market, with three Western Australian 19-October-2012 by Staff reporter explorers advancing plans to list on Drilling services company Imdex the Australian Securities Exchange has announced the acquisition of this week following the debut of two data management solutions firms others earlier this month. ioGlobal, ioAnalytics and ioGlobal Most of the floats have been rela- Solutions for $8 million in cash and tively small, except for the $20 million shares. IPO of Dacian Resources launched Imdex said the acquisition would earlier this week. give it an immediate earnings boost Dacian, which is chaired by former and enhance its capabilities to in- Avoca Resources boss Rohan Wil- clude cloud-based data management liams, will issue 40 million shares solutions priced at 50 cents each, the largest Managing director Bernie Ridgeway gold offering of the year so far. said ioGlobal was an excellent stra- Dacian is seeking the funds to ex- tegic fit for Imdex. plore the Mount Morgans project near “The company’s products comple- Laverton in the eastern Goldfields. ment Imdex’s existing product The Mount Morgans project has a offering, allowing us to expand our JORC compliant gold resource of customer base, and offer excellent growth prospects within the mining 842,000 ounces. PICK UP: Southern Cross Goldfi elds is close to fi nalising fi nancing arrangements to acquire Gold, base metals and mineral sands and oil and gas sectors,” Mr Ridge- explorer Windward Resources joined the Sandstone gold project from Troy Resources. Photo: Southern Cross Goldfi elds way said in a statement. the IPO party earlier this week, flag- ASG receives $177m ging an offer priced at 20 cents per average costs of $US3,878 for each launched a $35.5 million capital ergy, owners of Texas-based Lonestar takeover proposal share, to raise up to $2 million. Resources. tonne of lithium hydroxide. raising to fund development at its 18-October-2012 by Dan Wilkie The company’s flagship asset is the The study assumed a selling price of Productora copper-gold-molybdenum The merged entity will be known as A mystery suitor has made a non- Fraser Range South project near $US6,900/t for lithium hydroxide. project in Chile. Lonestar Resources, and will be binding takeover bid for Perth-based Norseman, which is considered to be Reed and MinRes said their preferred Hot Chili announced today it had listed on the Australian Securities IT services firm ASG Group, valuing it highly prospective and is located in arranged a two tranche placement to Exchange, subject to shareholder financing strategy for Mt Marion at more than $177 million. close proximity to the Nova discov- approval. would be an initial public offering, raise the funds, priced at 50 cents ASG announced today that a “signifi- ery, which has sent shares in Sirius Under terms of the deal, Amadeus which would be launched following per share. cant participant” in IT services had Resources skyrocketing over recent will issue up to 500 million shares to completion of a definitive feasibility Participants in the raising will also offered $1.03 for each ASG share. months. Ecofin and Lonestar senior executives study to construct a lithium battery receive one free attaching option at The company cautioned, however, that Windward announced that it had as consideration for the transaction. materials plant. 75 cents, for ever two new shares the offer was based on a number of entered a farm-in and joint venture Amadeus shares finished up 4.2 per The companies said discussions subscribed for. assumptions, subject to due diligence agreement with a private entity cent on the ASX today, trading at 24.5 remained preliminary and there was The company said it received strong and highly conditional. controlled by Sirius Resources’ major cents. no assurance a binding agreement demand for the placement from Also today, ASG announced it had shareholder Mark Creasy, which owns Post-merger, Amadeus shareholders would emerge. Australian and North American insti- launched a 1 for 6 entitlements offer the tenements. will hold 32 per cent of the new com- tutional investors, with Taurus Funds to existing shareholders, to raise Mr Creasy also holds a 50.19 per pany, with Ecofin stockholders taking Management and Canadian based $15.4 million, priced at 52 cents per cent stake in Windward, through his Capital Raisings the balance. Lundin Mining Corporation anchoring share. Yandal Investments vehicle. Lonestar chief executive Frank Southern Cross lines up debt- the raising. The funds will be used for The offer will consist of separate insti- Meanwhile, Mozambique-focused Bracken will assume the role of man- finance for Sandstone further development at Productura, tutional and retail investor compo- Metals of Africa is seeking to list on aging director at the new company 22-October-2012 by Dan Wilkie where Hot Chili is fast-tracking a nents, both fully underwritten by UBS. the ASX next week, after its $3 mil- post-merger, while Craig Coleman will Southern Cross Goldfields says it has decision to mine a large-scale open The offer price is a 23 per cent dis- lion IPO priced at 20 cents per share continue as chairman. a short-list of financiers to provide pit project in cooperation with Chile’s count to ASG’s closing price of 67.5 closed oversubscribed. The company will hold a large port- the necessary funding to complete largest iron ore miner, Compania cents on Wednesday. Metals of Africa holds a portfolio of folio of oil and gas assets in the US, Minera del Pacifico SA. ASG said the funds would be used to exploration licenses in Mozambique, the acquisition of the Sandstone gold including the highly prospective Eagle strengthen working capital, provide and is targeting base metals miner- project from Troy Resources. Roy Hill still seeking financial Ford and Barnett shale gas fields in financial flexibility and reduce core alisation. Southern Cross said today that it had backing Texas, as well as prospective acreage received indicative term sheets from term debt. The company’s Rio Mazoe project, 16-October-2012 by AAP in Montana’s Williston Basin. a group of potential debt-providers, in Mozambique’s Tete province, was Gina Rinehart’s $9.5 billion Roy Hill Scottish group snaps up and it would mandate one party in the Atlas South Sea Pearls to originally identified by BHP as pro- project is yet to secure its funding Vertech spective for mineralisation similar to near future to proceed to completion. move into fragrances as its target date for the start of 17-October-2012 by Dan Wilkie that found in Broken Hill, an area that The miner announced in August that 22-October-2012 by Dan Wilkie construction nears. Scotland-based oil and gas services has produced more than one billion it had reached agreement with Troy to Atlas South Sea Pearls shares Roy Hill management is continu- firm Global Energy Group has an- ounces of silver. acquire the Sandstone project for $5 jumped after it announced plans to ing negotiations with the project’s nounced the acquisition of Perth- Mindax chairman Gilbert George will million cash, a 2 per cent smelter roy- raise up to $5 million alongside a lenders, Roy Hill general manager of based energy sector access, inspec- also chair Metals of Africa. alty and more than 43 million options proposal to acquire fragrance and external affairs Darryl Hockey said. tion and maintenance company The three floats follow the successful to acquire Southern Cross shares flavour manufacturer Essential Oils of “We are currently meeting with our Vertech Group. ASX debut of Boadicea Resources, exercisable at 10 cents. Tasmania. financiers with a view to getting our Vertech Group was established which raised $1.12 million through Southern Cross said financing activi- Atlas said it would pay $650,000 debt funding package secure,” Mr four years ago, and has grown its its initial public offering earlier this ties for the Marda project were also in shares as consideration for the Hockey told a mining conference in turnover to $10 million annually in month. progressing positively, with indicative acquisition. Sydney. that time. Also earlier this month, Victory Mines term sheets also received in line with At close of trade, Atlas shares were Construction of the major iron ore op- The company will retain its local made a modest debut on the stock its expectations. up 14.9 per cent, trading at 5.4 eration was expected to begin in 2013, management team and 20 per cent market after its initial public offering Debt financing for Marda is expected to cents. with production to start in 2014. ownership, GEG said. raised $4 million. be finalised by the December quarter. Essential Oils of Tasmania has a Mr Hockey said Roy Hill’s ability to Commercial terms of the transaction Across the board, however, the IPO Managing director Glenn Jardine said 30-year history in plant processing, hire overseas workers would prove were not disclosed. market is well down on previous form, the acquisition of the Sandstone extraction and aging of perfume critical to its ability to secure financial GEG said Vertech had many clients with 28 completed floats in 2012 plant and camp was expected to ingredients. backing. locally that it had built international raising just over $203 million. halve the estimated capital cost of The purchase remains conditional The federal government and Roy Hill relationships with giving the com- In comparison, there were 80 IPOs in the Marda project. on Atlas raising at least $1.5 million have reached an enterprise migra- panies the ability to provide a wider the first nine months of 2011, with in new working capital and obtaining Reed announces $10m tion agreement (EMA), allowing up to range of specialist services to the $750 million raised. 1,715 skilled workers from over- shareholder approval. capital plan Atlas said it intends to raise up to $5 offshore gas sector. MinRes, Reed Resources talk 22-October-2012 by Dan Wilkie seas to be hired temporarily if it is GEG employs more than 4,500 unable find suitably qualified staff in million to boost working capital and Mt Marion float Reed Resources has launched a $10 fund its expansion plans. staff across 12 countries with 2012 18-October-2012 by Dan Wilkie million placement and share pur- Australia. turnover expected to exceed $500 Mineral Resources and Reed Re- chase plan, to boost working capital “It goes without saying that financi- Northern Iron agrees to million. sources are considering floating a as it moves towards start-up at its ers want the security that all risk has extend deadline Vertech’s Denis Belliveau said there new lithium company to develop the Meekatharra gold project. been adequately mitigated before 19-October-2012 by AAP would be a wide range of opportuni- Mt Marion project, approximately 40 Reed today announced an $8 million they will provide support,” he said. Takeover target Northern Iron has ties created by GEG’s acquisition. kilometres south-west of Kalgoorlie- placement to institutions and a $2 “Therefore we need to convince the extended the deadline for final bind- bankers that if there is a shortfall K&S acquires Bunbury Boulder. million share purchase plan for exist- ing offers until November 20 to allow transport firm Reed and MinRes announced today ing shareholders, both priced at 18 then we have a contingency plan in interested companies to complete 17-October-2012 by Staff reporter the execution of a shareholders cents per share. place to fill it. their due diligence. Logistics and supply chain group K&S agreement, where MinRes will fund The miner is also in the process of Northern Iron said Essel Mining and Corporation has acquired Bunbury- and operate the Mt Marion project in finalising a $19 million debt facility Swiss-based trading company Prom- Mergers and Acquisitions based Collare Transport Group for an return for a 30 per cent stake in the with international bank Credit Suisse. invest were conducting the second project. Amadeus to merge with stage of their due diligence, after undisclosed sum. Reed released a pre-feasibility study Hot Chili raises $35.5m for Texas’ Lonestar launching a takeover offer for the K&S announced today that it had for the Mt Marion project today, which Chilean mine 22-October-2012 by Dan Wilkie company in July. reached agreement to acquire Col- flagged a $US83 million capital 16-October-2012 by Dan Wilkie Amadeus Energy has announced a Essel Mining, which is a wholly owned lare, which employs around 35 staff expenditure for the operation, with Perth-based explorer Hot Chili has merger deal with UK-based Ecofin En- subsidiary of Aditya Birla Group, and at its Bunbury base. Continued page 24 WA Business News www.wabusinessnews.com.au October 25, 2012 | 23 I FOR THE RECORD | GROWING BUSINESS
FACT FILE
From page 23 “In addition to the Discovery Zone has won a three-year, $100 million prospect, Hannans has an extensive supply contract with John Holland The Collare business has annual portfolio of valuable copper, gold and Group in Queensland. Jeff Robson revenue of around $12 million. nickel prospects.” NRW announced today that Action K&S managing director Greg Ste- Avalon managing director Jeremy would supply explosives and blasting venson said the acquisition would Read said the acquisition was an services to John Holland at the Isaac be funded by existing debt facilities exciting opportunity to expand the Plains coal mine, in Queensland’s and would contribute to earnings company’s portfolio, in close proximity Bowen Basin. immediately. to its Viscaria copper project. Action has been operating on the Prepare and plan for Mr Stevenson said the Collare busi- Isaac Plains project since early July. ness would be particularly complemen- Contracts and Deals “It is very pleasing to see Action tary to its Dardanup equipment base. Drill & Blast continuing to secure a changing market Hannans Reward sells OTOC announces $32m long-term contracts with premier Swedish prospect for $4m contract success organisations such as John Holland 22-October-2012 by Staff reporter Group,” NRW managing director Jules 16-October-2012 by Dan Wilkie UNCERTAINTY is difficult to define and near on impossible Mining services provider OTOC has Pemberton said. Hannans Reward has reached agree- to measure, yet it remains a real problem in todays business announced a $32 million contract win “NRW is extremely pleased with the ment to sell the Discovery Zone for Rio Tinto in the Pilbara. way the Action Drill & Blast team has environment. copper-iron prospect in Sweden to Under the deal, OTOC will install ac- strengthened its position as a pro- Judging by recent global events, should we be surprised? Avalon Minerals for $4 million. commodation units at Rio’s Brockman vider of superior drilling and blasting Weve seen the biggest financial meltdown since the great Avalon will pay Hannans $3 million in 4 operations village. services.” depression of the 1930s. cash for the prospect, and holds the Work will commence immediately. option for the final million to be paid Woodside strikes agreement A resulting balance sheet recession occurred in many countries as “The company is pleased with the in either shares or cash. award of this contract by Rio Tinto as in Burma businesses and households reduced debt and built cash reserves in Hannans said the funds raised from this contract combined with a solid 19-October-2012 by AAP preparation for an unpredictable future. the sale would be used to advance order book further strengthens the Woodside Petroleum has struck an A calamitous sovereign debt crisis that still threatens the future development at its Kiruna iron project company’s strong competitive posi- agreement with Daewoo International in Sweden and its copper-gold portfo- Corporation for a production sharing of the European single currency plunging this vital global market tion going into 2013,” chief executive lio in Scandinavia. Adam Lamond said. contract in Burma. into recession. “The sale of this non-core asset A formal contract is expected to be It’s the first time the oil and gas An anaemic economic recovery in the US. will provide Hannans with additional signed by November 5. producer will operate in deep water A slowing of growth in China, which is bad news for our resources funds to advance its Kiruna iron off Burma. project and in particular complete NRW subsidiary wins $100m The deal means Woodside will take a sector, already in a fight over domestic tax policy. a scoping study on the Rakkurijoki contract 40 per cent participating interest in The Japanese tsunami and its disruption to global supply chains. deposit,” Hannans managing director 22-October-2012 by Dan Wilkie the production sharing contract sub- Political turmoil: the Arab Spring, the Iranian nuclear program, a Damian Hicks said. NRW subsidiary Action Drill and Blast ject to due diligence and approvals. 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GMO Business Sales impact of a 1 per cent change in exchange rate on profit and cash Tony Batista: 0419 191 066 Wholesale distribution of natural flow? GMO Business Sales product/medicines to health Newsagency/lottery professionals and retailers in Price: $505,000 (includes stock You should have financial models in place that are sufficiently Retail – food Western Australia. Operates on a $65,000). smart, flexible and robust so you can run a fast and accurate what Price: $1.65m. business-to-business basis and has First time offered in 26 years. if analysis. You might not know what outside force will affect you, Long established well-known a passion for natural products and Bridgetown location. Currently run but you will know what to do when it does. brand. Supplying national food/ natural medicines, and to deliver an under part-management. Offered Plan how youre going to plan retail chains plus a diverse range extensive range of quality products as leasehold. First right of refusal on freehold. You cant know for sure whats coming, but you can build your of other customers including to its growing clientele. universities, caterers, mining sites Ross Scott: 0438 258 880 Wayne Cooper: 0407 99 7777 thinking about potential scenarios and make a range of plans to deal etc. GMO Business Sales Statewide Business Brokers with these accordingly. Tony Batista: 0419 191 066 Newsagency/lottery Mining Planning for potential future outcomes is often neglected because GMO Business Sales Price: $550,000 psav. Price: $4.5m. it is difficult, time consuming and, therefore, costly. But for certain Import-wholesale Suit family. Offered as leasehold. vital areas and functions of your business, forward planning like this Very strong engineering business Located in popular shopping Price: $1.732m. well located to service many could be the difference between a company that thrives and one that centre in Mandurah. Excellent Highly profitable, Australia-wide mines within a large radius. dives. landlord. High customer retention. distribution, no debtors, own Strategic north-eastern gold Wayne Cooper: 0407 99 7777 Try your models out on the catwalk brand since 2006. Sales growth mining location. Specialising in Statewide Business Brokers To be prepared and to plan ahead requires an intimate understanding $1.9m (2009) to $3.2m (2012). mine site and local construction, Restaurant of the business; a solid financial model that can effectively conduct High-demand products, huge repairs, maintenance, mine On the market soon. Restaurant/ and compare scenarios is a critical part of this. customer base, manager on staff shutdowns, fabrication etc. One Dennis Brede: 0418 520 089 working owner, 45 staff, seven functions in prime location However, solid financial models are more rare than youd think. GMO Business Sales days per week work. 30 per cent with great views. Turnover Even among some of the biggest companies in Australia there of work undertaken from freehold approximately $3 million per are countless examples of models not built to withstand the Service property in townsite, 70 per cent annum. Awaiting final financials. demands put on them particularly in volatile and fluid business Price: $2.85m. within 1,000km radius on mine [email protected] Established systems, Gunnink & Co environments. sites. Current sales in excess of procedures and technology to $6.5 million a year. Ensuring that your financial models are audited or reviewed by Cafe support production work flow. Richard Marr: 0411 721 878 On the market soon. Large cafe, internal teams or external professionals is a very smart move; a QA department. Established GMO Business Sales selling 80 kilos of coffee per move that can save you huge sums of money. management and supervisor week. Turnover of approximately So get your financial models in order and should the market, the hierarchy backed up with Mining supplies $2.2 million, rental $90,000 per government or your competitors throw you a curve ball, youll have leadership training. Documented Price: $2.4m. annum. Asking between $1.2 staff roles. Established marketing Up-and-coming mining services and $1.4 million. Awaiting final a range of planned strategies to deal with it. You might even be able division. 900 clients. business incorporating labour financials to take advantage of opportunities your competitors were too slow Barry Graham: 0413 568 366 hire, specialised trade services [email protected] to spot. GMO Business Sales and niche product manufacturing. Gunnink & Co
Jeff Robson is CEO of Access Analytic, which works with businesses to built robust yet flexible financial models. “Profit From Our Experience” phone 9481 4422 Contact Jeff on 08 6210 8500 | www.accessanalytic.com.au | [email protected]
24 | October 25, 2012 www.wabusinessnews.com.au WA Business News SALES SESSIONS | FOR THE RECORD I
FACT FILE
From page 24 Mermaid wins $15m support after a similar organisation asked it to reconsider. “The transaction also provides the contract 16-October-2012 by Edited WAFarmers said another state option to drill an exploration well in farmer group had recently asked it Jeffrey Gitomer a subsequent exploration period.” announcement to rethink its support for the federal Woodside said in a statement. Mermaid Marine has announced a government’s planned Wheat Export Woodside said the production area $15 million contract with Santos Marketing Amendment Bill 2012, was for Block AD-7 in the Rakhine for the oil and gas giant’s Modec but it stood firm. Basin, located in the western off- floating LNG facility in the Carnarvon Labor has a bill before the lower How good are you at shore area of Burma. Basin. house to wind up Wheat Exports Woodside and Daewoo will be able Mermaid said the offshore marine Australia and fully deregulate the to undertake a 3D seismic acquisi- support contract was for a two year market, but the opposition wants the making decisions? tion program between 2013 and term, with three 12 month options move postponed. 2014. to extend. Managing director Jeff Weber said The bill has caused a coalition split, DECISIONS either by you, your coworker, your boss, your family Austal wins wind farm deal with coalition MPs Tony Crook and the company was extremely pleased members or your customer drive your success, your lifestyle, and your 18-October-2012 by Dan Wilkie to continue its working relationship Alby Schulz both signalling their in- Perth-based shipbuilder Austal has tentions to side with the government attitude. with Santos on the North West As youre contemplating what to do, or how to decide, there are stream- won a £10.5 million ($16.3 million) Shelf. in the belief that full deregulation of-conscious thoughts that affect the final choice and the resulting deal for the design and construc- “A key part of our ongoing strategy will have the greatest benefit for lo- tion of three wind farm support is to work with quality operators cal farmers, who enjoy the country’s outcome. Whether youre buying something, working on a project, vessels, which will operate off the supporting their production facilities biggest share of wheat exports. parenting, or making a sale, there are decisions you have to make that European coast. through vessels linked to our supply will determine the outcome. Your job is to make the best one; the right Austal said the 27 metre cata- base,” Mr Weber said. Briefs one. marans, which are being built for “The Santos MV11 FPSO operation Most people think decisions are made based on economics; the price. UK-based Turbine Transfers at its fits perfectly into that strategy and Smiths Beach land up for Philippines shipyard, would be built grabs Most people are wrong. Decisions are made based on myriad elements MMA looks forward to working with and price is only one of them. Perceived value is way more of a factor over nine months, commencing in Santos to make the operation safe 17-October-2012 by Dan Wilkie March next year. and successful.” The contentious development of than price. Chief executive Andrew Bellamy Smiths Beach near Yallingup has Most decisions you make are based on existing emotion and perception, said Austal had decided to focus Parsons Brinckerhoff to build taken another twist, with the owners combined with previous experience unless youre in politics, or on the growing market for wind- Karratha power plant of the 40.5 hectare site putting the corporate politics. farm support boats midway through 16-October-2012 by Dan Wilkie land on the market. Those (political) decisions are made based on whats popular, whats 2010. Parsons Brinckerhoff has been The Smiths Beach site will be sold likely to be approved, whats safe, or whats politically expedient; and “Having spent the first year work- contracted by Horizon Power to con- via an expressions of interest cam- almost never based on whats best for the whole of the country or the ing hard to better understand the struct a 20 megawatt gas turbine paign, being run by commercial prop- company. market’s expectations we signed power plant in Karratha. erty agents Jones Lang La Salle. our first contract in July last year,” The power project is scheduled to Jones Lang La Salle WA director of If youre willing to think deeper about the decision-making process for Mr Bellamy said. be commissioned for the summer sales and investments, Phil Fogliani, yourself, it may help you understand how others make their decisions; “During that initial 12-month 2013/2014 period, with site works said he expected the property to especially if youre in sales and your income and career are based on the marketing period we did a lot or already underway. command the attention of a broad decisions of others. research and design development “The installation of this additional cross section of developers and The easiest way to understand the situation and other people is to first and also confirmed that Austal generation at Karratha is a critical private investors. understand yourself, and how you make decisions. needed to regionalise its manufac- project and will benefit from this Formal subdivision approval is at an turing base in order to be success- combined global expertise,” Parsons Regardless of the decision at hand yes, no, put off, act, buy, dont buy, advanced stage of negotiation with date, or reject the questions below will help your conscious and sub- ful. Brinckerhoff director for Asia-Pacific the WA Planning Commission, Mr conscious mind understand your decision making process, and help you “The company acquired a shipyard Paul Turney said. Fogliani said. in the Philippines last November for “We are dedicated to a successful “Current plans include a high-star, understand the decision making process of others. that very reason.” project outcome. This is a platform 3.34ha beach club style resort Here are some of the thoughts that enter your mind as you make choices. John Holland, Pindan up for for future delivery of larger EPC covering the lower portion of the Whats the circumstance? Whats the reason? Whats the motive? Whats power projects in the region.” property with the tourist lost and the risk? What are the potential consequences? What are my fears? $230m prison job Horizon Power is investing $43.5 16-October-2012 by Mark Beyer residential component occupying the Whats the reward? Whats the real issue? Whats the real barrier? Whats million over two years to increase most elevated portion of the site,” The private sector is set to play a power generation capacity in the the money? Whats the perceived value? Whats the measurable value? he said. bigger role in providing traditional Pilbara. Whats the social value? Whats the objective? What is my desired result? public infrastructure in Western The owners of the site, Canal Rocks What is the outcome likely to be? What if it isnt? Who gets hurt? Who Clough announces $10m Pty Ltd, were originally seeking to Australia after the state government benefits? What are the elements? What has been my past experience? named a preferred consortium for contract win develop up to 272 tourist units, 104 residential homes and 1,700 square What is my experience-based knowledge? Should I counsel anyone? the design, construction, financing 16-October-2012 by Dan Wilkie Do I have to decide now? Is this temporary or permanent? Whats the and maintenance of a $232 million Engineering and project services meters of commercial space, before prison in the Goldfields. group Clough has won a $10 million that plan was knocked back by the deadline or the urgency? What is my gut telling me? The Assure Partners consortium contract to support exploration Environmental Protection Authority Keep in mind all decisions involve some sort of risk. Risk involves and was named as the preferred re- works at the Morobe Mining joint in 2009. creates fear. The greater the risk, the more measured, deliberate, and spondent; its members comprise venture’s Wafi-Golpu project in Barrick women dominate collaborative the process. Its always a judgment call, and fear often Capella Capital, Leighton Holdings Papua New Guinea. interferes with sound judgment. subsidiary John Holland, local Works include the development of business awards 16-October-2012 by Edited Vital note: The decision to buy is made emotionally, and then justified company Pindan Contracting and support infrastructure, including logically. You make the decision, and then defend it, sometimes to a fault. bridges, roads, a 500-man construc- announcement Honeywell. The words no brainer have always bothered me in the decision-making It beat off competition from two tion camp, power and water supply. The woman at the helm of Barrick other short-listed consortia - the Au- The contract, which will be under- Gold’s Granny Smith mine in the process. When someone says, Its a no brainer to me, what theyre rum Partnership included Leighton taken by Clough’s PNG subsidiary, Yilgarn has been named Western saying is, Dont think about it, just do it. Not good. All decisions are Contractors, Broad Construction Clough Nuigini, will last for around 9 Australia’s Business Woman of the brainers. and Programmed while EG Path- months. Year in the 2012 Telstra awards. To help you on the positive side of decide, ask yourself: WAys included McConnell Dowell, “We are pleased to be awarded Julie Shuttleworth has led a team Am I doing whats best for myself, or my company? Spotless and banking group RBS. the early stages of this work from of 700 people developing the gold Am I taking the high road? mine since 2010. Treasurer Troy Buswell said Assure MMJV,” Clough chief executive Kevin Am I choosing the best value? Partners had submitted a robust Gallagher said. But it was her sponsorship of a pro- Am I at peace with myself? proposal that provided innovative The MMJV is a 50:50 joint venture ject designed to improve safety of design solutions and competitive between Harmony Gold Mining Com- underground miners when changing On the negative side of decide, ask yourself: costings. pany and Newcrest Mining. tyres which was largely responsible Am I making an excuse to do it, even though I doubt the validity of it? “It is expected that negotiations for her taking the top honour. Am I justifying it before the facts are gathered? with Assure Partners, to work out Regulation Her work experience also includes Am I justifying it after the fact, and I knew it was a mistake? the finer details, will be completed 18 years as a metallurgist, running a WAFarmers hold firm on Am I procrastinating? and the contract signed by the end mine site with 2000 employees, and Am I saying its the lesser of two evils? of the year,” Mr Buswell said. wheat deregulation leading Barrick Gold’s Buzwagi Gold Am I only getting buy-in before the fact to mitigate blame? “Delivering the new facility in part- 18-October-2012 by AAP Project in Tanzania from feasibility Note well: Fear of loss is greater than desire to gain. Fear of being wrong nership with the private sector will The Western Australian Farmers status to production. provide the best value for taxpayers Federation has reiterated its support She was also awarded the business is more powerful than risk of being right. Side note: Leaders emerge as and assist having the new facility for the proposed winding up of the innovation award and private and they become fearless. built on budget and on time.” wheat industry’s regulatory body corporate sector award for her work. As youre trying to get others to decide on you and your product or service, keep top of mind how you make your decisions. The better you understand yourself, the more powerful youll be at getting a favourable TRADE OPPORTUNITIES decision.
The Western Australian Trade 17878; Road sweepers (Turkey) please contact Nick Paterniti Jeffrey Gitomer is the author of The Little Book of Leadership, and Social BOOM! President of Charlotte-based Buy Gitomer, he Opportunities Service is operated – 17875; Silk Scarves (New (quoting the relevant reference gives seminars, runs annual sales meetings, and conducts Internet by the International Trade Centre Zealand) – 17876; Surgical number shown) at the Chamber training programs on selling and customer service at www.trainone. of the Chamber of Commerce and instruments, dental instruments of Commerce and Industry of com. He can be reached at 704/333-1112 or e-mail to salesman@ Industry WA. and manicure instruments Western Australia on Tel: (08) gitomer.com (Pakistan) – 17877. IMPORT GOODS INTO 9365 7620 Fax (09) 9365 7616 © 2012 All Rights Reserved. Don't reproduce this document without AUSTRALIA For full details on any of the or email documentation@cciwa. written permission from Jeffrey H. Gitomer and Buy Gitomer. 704/333-1112 www.gitomer.com. PVC transparent film (China) – above trade opportunities com.
WA Business News www.wabusinessnews.com.au October 25, 20 | 25 I | COMMUNITY & ARTS SECTOR
IN BRIEF Scitech’s indigenous school win Alcoa targets 10,000 hours TO coincide with the official I Mitch Crowe-Hardy month of volunteering, Alcoa plans to donate 10,000 employee work hours to SCITECHS Aboriginal Education charity organisations as part Program has received international of its seventh annual Month recognition for its work to increase of Service program. school attendance by Aboriginal The Month of Service children in remote communities. program encourages The Scitech program beat 12 Alcoa’s employees to take other international entries to win part in local community the Leading Edge award at the programs and not-for-profit recent Association of Science and organisations of their Technology Centres awards in choosing. Columbus, Ohio, in the US. This year the program is Scitech, which is more common- expected to involve about half ly known for its interactive science of Alcoa’s 4,000 WA-based centre in West Perth, has been run- employees in more than 100 ning the program since 2007. community programs. The Aboriginal Education Program Last week, Alcoa Australia includes student workshops, teacher managing director Alan training, and science teaching kits, Cransberg and a group of employees went to Osborne Park seniors home, James ‘‘We were able to Brown House, to help improve increase our school gardens at the property. “Volunteering and community visit rotation from engagement are an essential every three years BROADER SCOPE: Nick Wood says corporate funding has enabled Scitech to increase the part of how we do business, we encourage all our people program’s outreach by 50 per cent. Photo: Phil Hill to two.’’ - Nick Wood to get involved each October,” Mr Cransberg said. which contain enough teaching mate- At the moment weve just start- He said the corporate funding had community, so as to and reinforce “The majority of employees rials and class plans for a semester. ed our Goldfields tour, theyre cur- enabled Scitech to increase the pro- program initiatives after the Scitech live and work in regional The program differs from tradition- rently working out of Kalgoorlie, grams outreach by 50 per cent. team has left. communities where al teaching methods due to its exten- Mr Wood said. That team will When our industry partners came The ECU study conducted a series volunteers are a critical sive use of hands-on activities, simple then continue on and pick off onboard we were able to increase our of interviews at 13 schools the pro- resource for non-profit instructions, and significant levels of every single remote community school visit rotation from every three gram visited. It found that attend- organisations and the non-verbal communication; this helps between the Goldfields and the years to two, Mr Wood said. ance had risen at all schools, stu- community at large.” break through language barriers while South Australian and Northern Support for the program also dents were more actively involved in Alcoa has pledged its 10,000 up-skilling local teachers. Territory borders. emerged from research by Edith class, and local teachers confidence hours of service to the We aim to hit every remote Since its inception in 2007, Cowan University last month, which had risen as a result of their involve- Corporate Volunteer Council’s indigenous community in Western the project has garnered support discovered school attendance had ment in the program. newly launched Give 1 Australia every two years, Scitech from BHP Billiton, Rio Tinto and risen by up to 50 per cent as a result Earlier this year, the Expert campaign. Alcoa is a member director of outreach Nick Wood said. Woodside, as well as the federal and of Scitechs visits. Working Group on Indigenous of the council, which aims There are up to six teams out state governments. Mr Wood said that among valuable Engagement with Science revealed to raise 1 million corporate volunteer hours by October every year and they will focus on The programs started with a com- pieces of information to come out that, in 2010, only 11 per cent of next year. specific regions. bination of state and federal fund- of the report was the importance of Aboriginal children enrolled in Alcoa’s pledge currently Each team comprises three mem- ing, Mr Wood said. the relationships developed between higher education were studying sci- accounts for about a third bers two science communicators We ran the program out in remote Aboriginal students and the program. ence and engineering a third of of the total corporate who work with the students and a rural communities, and looked for As a result of the findings, the number enrolled in societal and volunteering hours raised by professional learning consultant who industry support when we started to Scitech is now going to start fol- cultural studies and half the number the campaign. works with the teachers. see positive results. low-up Skype meetings with each enrolled in health-related fields. 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26 | October 25, 2012 www.wabusinessnews.com.au WA Business News