Global Lithium Resources will fire directors, cut its chief executive's salary and put its flagship exploration project on hold as prices for the battery metal stagnate following an attempted board ouster.
Resources Minister Madeleine King has supported her cabinet colleague Tanya Plibersek after she torpedoed Regis Resources' plans for a billion-dollar gold mine in New South Wales. Ms Plibersek used her powers as Environment Minister to block the construction of a tailings pond at the McPhillamys Project because she was concerned about the impact on Aboriginal … Read more
Resources Minister Madeleine King has denounced the “hysteria” surrounding the union initiative in the Pilbara region and stressed that the federal government's controversial industrial relations laws are “working as intended”.
Jim Beyer has dismissed comparisons between the failed McPhillamys project and Juukan Gorge, while saying his company Regis Resources will now take a more serious approach to offshore exploration for its next move. Mr Beyer said the company was “still shaken” by Environment Minister Tanya Plibersek's revocation of state and federal approvals for the development … Read more
Almost all of the value that Regis Resources attributed to its New South Wales gold project was wiped out following a high-profile Section 10 ruling. The immediate financial impact was revealed Wednesday afternoon when Regis recorded a non-cash impairment of $192 million “against a significant portion of McPhillamys' book value.”
Ron Mitchell, chief executive of Global Lithium Resources, says he does not know why a South Perth property development company sought to remove two directors from the board. Shareholder Sincerity Development confronted the market participant with the request to convene a shareholders' meeting to remove the independent non-executive directors Greg Lilleyman and Hayley Lawrance from … Read more
Cottesloe-based fund manager Willy Packer is facing a major dilemma after Energy Resources of Australia warned it would run out of cash by the end of the year, reducing the value of its key asset to zero. ERA recorded an $89.8 million impairment on the Jabiluka uranium deposit near Kakadu National Park in the Northern … Read more
Oil and gas company 88 Energy is expecting oil sampling results from the Hickory-1 well at its flagship Phoenix project in Alaska shortly and is expected to present a preliminary resource estimate before the end of the year.
A leading mining company has sharply criticized US Environmental Secretary Tanya Plibersek's decision last week to block Regis Resources' plans for the McPhillamys gold project.
Two of the country's largest pension funds appear to be betting against the success of two major minerals producing companies whose major shareholder is Gina Rinehart. The West Australian has learned that Rest Super and Aware Super have loaned their interests to Lynas Rare Earths and Liontown Resources.