CHANGE IN DIRECTORS' INTERESTS | FOR THE RECORD ■ DECREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY DISPOSED PER SHARE ($) REALISED ($) SECURITIES PER SHARE ($)* VALUE ($)* INCREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY ACQUIRED PER SHARE ($) COST ($) SECURITIES PER SHARE ($)* VALUE ($)* Australian-American Mining Corporation Ltd Richard Holmes 06-Jun-12 2,000,000 nil nil 2,000,000 0.053 106,000 H Australian-American Mining Corporation Ltd Mark Ceglinski 06-Jun-12 2,000,000 nil nil 2,300,000 0.053 121,900 H Axiom Properties Ltd Benjamin Laurance 06-Jun-12 7,091 0.028 199 55,733,926 0.025 1,393,348 A Cape Lambert Resources Ltd Antony Sage 06-Jun-12 1,500,000 0.305 457,500 40,440,430 0.345 13,951,948 A Cape Lambert Resources Ltd Brian Maher 06-Jun-12 300,000 0.353 105,974 815,000 0.345 281,175 A Caspian Oil & Gas Ltd Colin Carson 01-Jun-12 4,984,203 0.003 15,076 27,172,687 0.003 81,518 A CGA Mining Ltd David Cruse 07-Jun-12 99,600 1.802 179,446 119,600 1.800 215,280 A Dragon Mountain Gold Ltd Paul Piercy 07-Jun-12 660,000 0.200 132,000 760,000 0.560 425,600 C Empired Ltd John Bardwell 07-Jun-12 66,571 0.243 16,153 4,099,904 0.250 1,024,976 A Ferrowest Ltd Brett Manning 06-Jun-12 7,500 0.080 600 3,181,500 0.080 254,520 A Fortescue Metals Group Ltd Neville Power 05-Jun-12 108,932 4.590 499,998 866,321 4.550 3,941,761 A Gondwana Resources Ltd Warren Beckwith 04-Jun-12 3,300,000 0.002 6,600 41,879,146 0.002 83,758 A Laconia Resources Ltd Ian Stuart 07-Jun-12 150,000 0.030 4,500 7,050,000 0.030 211,500 A Lithex Resources Ltd Malcolm Carson 07-Jun-12 22,000 0.078 1,716 583,081 0.078 45,480 A Moly Mines Ltd Michael Braham 01-Jun-12 500,000 0.154 77,167 500,000 0.140 70,000 A Mount Gibson Iron Ltd Geoffrey Hill 06-Jun-12 20,000 0.900 18,000 70,000 0.900 63,000 A Northern Minerals Ltd Kevin Schultz 07-Jun-12 600,000 0.108 64,800 1,417,500 0.320 453,600 C Pancontinental Oil & Gas NL Ernest Myers 01-Jun-12 285,715 0.175 50,000 285,715 0.160 45,714 F Pancontinental Oil & Gas NL Henry Kennedy 01-Jun-12 571,429 0.175 100,000 133,301,602 0.160 21,328,256 F Pancontinental Oil & Gas NL Roy Rushworth 01-Jun-12 571,429 0.175 100,000 35,335,610 0.160 5,653,698 F Peel Mining Ltd Robert Tyson 05-Jun-12 90,000 0.083 7,470 6,540,019 0.081 529,742 A Programmed Maintenance Services Ltd Robert McKinnon 06-Jun-12 50,000 2.420 120,976 50,000 2.390 119,500 A Rialto Energy Ltd Charles Nieto 07-Jun-12 250,000 0.239 59,851 1,250,000 0.280 350,000 A Sihayo Gold Ltd Peter Bilbe 06-Jun-12 1,500,000 0.100 150,000 1,920,000 0.155 297,600 C Sihayo Gold Ltd John Blake 06-Jun-12 1,500,000 0.100 150,000 1,500,000 0.155 232,500 C Silver Swan Group Ltd David Archer 07-Jun-12 100,000 0.046 4,604 1,050,000 0.043 45,150 A Silver Swan Group Ltd David Archer 07-Jun-12 70,000 0.044 3,050 1,120,000 0.043 48,160 A South Boulder Mines Ltd Ian Gilchrist 05-Jun-12 30,000 0.995 29,843 30,000 0.900 27,000 A Strategic Minerals Corporation NL Claude Guerre 05-Jun-12 100,000 0.029 2,900 4,945,000 0.029 143,405 A Structural Monitoring Systems plc Toby Chandler 01-Jun-12 205,000 0.045 9,225 3,533,518 0.045 159,008 A Venturex Resources Ltd Anthony Kiernan 06-Jun-12 100,000 0.040 4,000 1,150,000 0.044 50,600 A Viking Ashanti Ltd John Gardner 01-Jun-12 60,000 0.116 6,960 5,349,258 0.125 668,657 A Vmoto Ltd Yiting Chen 06-Jun-12 3,791,526 0.012 45,498 39,664,578 0.012 475,975 D Vmoto Ltd Kaijian Chen 06-Jun-12 2,777,777 0.012 33,333 2,777,777 0.012 33,333 D Cedar Woods Properties Ltd Robert Brown 08-Jun-12 300,000 3.450 1,035,000 8,979,431 3.560 31,966,774 A CO2 Group Ltd Andrew Grant 04-Jun-12 100,000 0.140 14,000 2,946,432 0.140 412,500 G Gondwana Resources Ltd Steven Pynt 04-Jun-12 3,300,000 0.002 6,600 12,593,043 0.002 25,186 A Northern Minerals Ltd Kevin Schultz 07-Jun-12 600,000 0.314 188,413 817,500 0.320 261,600 I Perseus Mining Ltd Colin Carson 06-Jun-12 50,000 2.750 137,495 453,200 2.780 1,259,896 A Tox Free Solutions Ltd Michael Humphris 01-Jun-12 200,000 2.455 490,912 1,000,000 2.400 2,400,000 A *day of announcement A On market trade | B Off market trade | C Exercise of options | D Rights issue | E Share purchase plan | F Participation in placement | G Shares sold on-market to meet tax obligations | H Conversion of performance rights following first performance hurdle being met | I Disposal of shares to partially fund options exercise and tax liability Please direct enquiries to [email protected]WA Business News www.wabusinessnews.com.au June 14, 2012 | 21 with continued exploration success and corporate growth, Independence Group NL is shaping the future of world-class gold and nickel. discovery Prosperity through bnd4235 www.igo.com.au
Transcript
CHANGE IN DIRECTORS' INTERESTS | FOR THE RECORD ■
DECREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY DISPOSED PER SHARE ($) REALISED ($) SECURITIES PER SHARE ($)* VALUE ($)*
INCREASE HOLDER OR DATE NUMBER PRICE TOTAL CURRENT VALUE TOTAL COMPANY INTERESTED PARTY ACQUIRED PER SHARE ($) COST ($) SECURITIES PER SHARE ($)* VALUE ($)*
Australian-American Mining Corporation Ltd Richard Holmes 06-Jun-12 2,000,000 nil nil 2,000,000 0.053 106,000 H
Australian-American Mining Corporation Ltd Mark Ceglinski 06-Jun-12 2,000,000 nil nil 2,300,000 0.053 121,900 H
Axiom Properties Ltd Benjamin Laurance 06-Jun-12 7,091 0.028 199 55,733,926 0.025 1,393,348 A
Cedar Woods Properties Ltd Robert Brown 08-Jun-12 300,000 3.450 1,035,000 8,979,431 3.560 31,966,774 A
CO2 Group Ltd Andrew Grant 04-Jun-12 100,000 0.140 14,000 2,946,432 0.140 412,500 G
Gondwana Resources Ltd Steven Pynt 04-Jun-12 3,300,000 0.002 6,600 12,593,043 0.002 25,186 A
Northern Minerals Ltd Kevin Schultz 07-Jun-12 600,000 0.314 188,413 817,500 0.320 261,600 I
Perseus Mining Ltd Colin Carson 06-Jun-12 50,000 2.750 137,495 453,200 2.780 1,259,896 A
Tox Free Solutions Ltd Michael Humphris 01-Jun-12 200,000 2.455 490,912 1,000,000 2.400 2,400,000 A
*day of announcement A On market trade | B Off market trade | C Exercise of options | D Rights issue | E Share purchase plan | F Participation in placement | G Shares sold on-market to meet tax obligations | H Conversion of performance rights following fi rst performance hurdle being met | I Disposal of shares to partially fund options exercise and tax liability Please direct enquiries to [email protected]
WA Business News www.wabusinessnews.com.au June 14, 2012 | 21
with continued explorationsuccess and corporate growth,Independence Group NL is shapingthe future of world-class gold and nickel.
discoveryProsperity through
bnd4235www.igo.com.au
22 | June 14, 2012 www.wabusinessnews.com.au WA Business News
Alloy ResourcesFounding director Jayson Meyers has resigned. Atlas Iron
Chief commercial officer Mark Hancock has been appointed as an executive director, and Geoff Simpson has been appointed as an independent non-executive director. Australia Minerals & Mining Group
Australian Securities Dealers Association executive chair Jamie Coote has been appointed as a non-executive director, following the resignation of David Brook. Cassini Resources
David Johnson has been appointed as executive director – exploration. Central Petroleum
Richard Cottee has been confirmed as chief executive officer. Acting CEO Dalton Hallgren will resume his position as chief operating officer. Centrepoint Alliance
Director Grahame Evans has resigned. Continental Coal
Maritz Smith has been appointed as chief financial officer. Dragon Mining
Chief operations officer Kjell Larsson has been appointed as managing director. Peter Cordin will step down as an executive director, but remains as board chairman. ElDore Mining Corporation
James Thompson, Neil Hackett and Andrew Waller have been appointed as non-executive directors, following the resignations of Craig Willis and Richard Griffin. Forge Group
Non-executive director David Craig has been appointed as independent non-executive chairman, following the resignation of executive chairman Peter Hutchinson, who remains as managing director until David Simpson’s commencement on July 9. Golden Cross Resources
Stephen Gemell has been appointed as chairman. Mr Gemell is principal of Gemell Mining Engineers, which he formed in Kalgoorlie in 1984.
Hydrotech InternationalDeputy chairman and chief executive officer Francis Lung has resigned. ISS Group
Colin Yamey has been appointed as an independent non-executive director, following the retirement of Ian Spence. Jupiter Mines
Greg Durack has been appointed as chief executive officer, following the resignation of managing director Richard Mehan, who remains for a period to allow a smooth transition. Malagasy Minerals
Graeme Boden has been appointed as a non-executive director. Marenica Energy
Hanlong Resources chief financial officer Bo Yang has been appointed as a director. MHM Metals
Non-executive director Neil Allen has retired. Naracoota Resources
Non-executive director John Stockley has resigned. Navigator Resources
Managing director David Hatch has resigned. Po Valley Energy
Non-executive director David McEvoy has retired. Sentosa Mining
Non-executive director and former Patersons Securities stockbroker Nigel Gellard has been appointed non-executive chairman. Solco
Former executive director Mark Norman will stay on as a non-executive director. Syndicated Metals
Director Bruce McCullagh has resigned. Transaction Solutions International
James Carroll has been appointed as a non-executive director. WHL Energy
Trevor Benson has been appointed as chairman, following the resignation of John Chandler. Keiran Wulff has been appointed as a non-executive director.
Burvill joins IronCladSouth Australian iron ore explorer IronClad Mining has appointed David Burvill as project director. Mr Burvill was most recently project director for WorleyParsons at Hancock Prospecting’s Roy Hill iron ore project in WA. He has also worked for OZ Minerals, Ertech and BHP Billiton.
Jones to Northern MineralsNorthern Minerals has appointed Robin Jones to the new position of project manager, to oversee development of the Browns Range project, which aims to produce heavy rare earth concentrate by 2015. Mr Jones was previously project director at Mega Uranium and CopperCo.
McGregor joins Algae.TecColin McGregor has been appointed as general manager project operations at biofuels firm Algae.Tec. Mr McGregor recently headed up a fuel efficiency program for a major international carrier.
Ashurst recruits WinterbourneLaw firm Ashurst has appointed Katie Winterbourne as a new partner in its energy and resources practice in the Perth office. Ms Winterbourne was formerly an in-house legal manager at BHP Billiton.
Turley joins Lavan LegalWA law firm Lavan Legal has appointed Don Turley as construction counsel in the commercial advice and litigation group. Mr Turley was previously a consultant at Clyde & Co in Saudi Arabia and prior to that, head of Taylor Wessing’s construction practice in Dubai.
Bizzaca on library fund boardKristy Bizzaca has been appointed to the board of the State Library of Western Australia Foundation. Ms Bizzaca is a heritage consultant and professional historian.
Fairweather to Allion LegalDirk Fairweather has been appointed as a principal and head of Allion Legal’s new litigation and dispute resolution group. Mr Fairweather was previously a principal at Maxim Litigation Consultants (which has merged with Lavan Legal).
Youds consults to CauldronJunior uranium explorer Cauldron Energy has appointed Simon Youds as operations consultant. Mr Youds was previously chief executive officer of African Iron and managing director, Australia of Consolidated Minerals. He was also recently appointed as technical consulting engineer at Chameleon Mining.
Hart heads medicine at CurtinCurtin University has appointed William Hart as foundation head of medicine in the Faculty of Health Sciences. Professor Hart’s role will be to lead the Department of Medical Education and Curtin’s proposed medical school. Professor Hart comes to Curtin from his role as director of the Gippsland Medical School, Monash University’s rural medical school.
Wilshaw joins MagnusFormer WA Business News journalist Blake Wilshaw has been appointed as senior associate in the Perth office of Magnus Investor Relations + Corporate Communication. Mr Wilshaw was most recently editor of Resource Stocks magazine, and has also worked at Aspermont Publishing in the UK.
New Realmark staffReal estate agency Realmark has appointed Andrew Cryer as a property manager in the Leederville commercial team, Davina McDonald as a sales associate in the Scarborough residential team, and Sarah Crocker to work on the group’s publications in its in-house media business Xceed media.
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WA Business News www.wabusinessnews.com.au June 14, 2012 | 23
| FOR THE RECORD ■
FACT FILE Compiled by Dan Wilkie
WA SCORECARD Compiled by Warrick Ambrosa, Economist, CCI
tal raising initiatives continues to demonstrate the company’s ability to diversify funding sources from a range of local and international capital markets.”
Mergers and AcquisitionsBDO signs up with PKF on east coast06-June-2012 by Staff reporterAccounting firm BDO has an-nounced it will join forces with PKF in the eastern states, after dump-ing its Sydney and Melbourne offices in March.BDO said it had finalised inte-gration discussions with PKF’s East Coast Practice, in Sydney, Melbourne and Brisbane, which will take effect from July 1.BDO’s Sherif Andrawes said the integration would provide stability for the firm, which cut loose its NSW and Victorian member firms in March, in favour of PKF.“We also want the market to know that, with options for full service global firms getting fewer and
fewer, this integration provides another option for large organisa-tions that are looking for greater choice, and it also provides greater capacity and expertise in specialised services from small to medium enterprises,” Mr An-drawes said.Mr Andrawes said BDO’s existing clients would not be affected by the changes.“BDO in Western Australia re-mains an independent, strong and growing practice that will continue to be recognised as a leader in the Perth accounting market.”
Legal action threatens Flinders takeover08-June-2012 by AAPA $554 million Russian takeover of Pilbara-focused iron ore miner Flinders Mines may be scuttled by legal action.Flinders Mines and Magnitogorsk Iron & Steel Works OJSC (MMK) have agreed to terms on a takeo-ver, which was scheduled to be completed by June 30.But a minority MMK shareholder, arguing the takeover presents
operational and financial risks to MMK, has been granted an injunc-tion by a Russian court.That legal matter has been ad-journed to July, after the takeover scheme was due to be imple-mented.Flinders Mines lodged an appeal against the injunction. But, on Friday, the company said the Ap-pellate Court in the city of Chely-abinsk had dismissed the appeal.
Contracts and DealsKula Gold appoints Arccon at Woodlark Island08-June-2012 by Staff reporterKula Gold has appointed contract-ing group Arccon as an engineer-ing design consultant to assist with feasibility and infrastructure studies for its Woodlark Island gold project, off the coast of Papua New Guinea.Arccon will help revise Kula’s processing plant and site in-frastructure design and capital cost estimates to assist in the optimization of a feasibility study for the mine. Continued page 24
WA Company ListingsNewfield Resources makes winning ASX start08-June-2012 by Staff reporterPerth-based exploration firm Newfield Resources made a suc-cessful debut on the Australian Securities Exchange today, with its shares finishing their first day of trading up 2.5 cents.Newfield, which is a gold explorer with assets in the Yilgarn region and also near Kalgoorlie, finished trade today at 22.5 cents, up from its issue price of 20 cents.The company raised $2.3 million through its initial public offering to become the 42nd ASX listing in Perth and the 95th Australia-wide this financial year.Newfield said it would seek to explore and appraise its flagship namesake project, near Southern Cross and assess possible acqui-sition opportunities with the funds raised from the IPO.
Capital RaisingsFMG secures $US490m in expansion funds07-June-2012 by Staff reporterFortescue Metals Group has secured a $US490 million finance facility to help fund its 155 million tonne per year expansion ambi-tions.The previously announced facili-ties, with European export credit agencies, will provide additional funding for the expansion and associated mining fleet, Fortescue said in a statement.The company said it would draw on the funds over the next 12 to 18 months.The facilities have an average maturity of ten years, Fortescue said, with terms and conditions consistent with the company’s existing debt capital structure.“Securing these European ECA facilities is consistent with Fortescue’s strategy of obtain-ing long-term corporate finance,” Fortescue chief financial officer Stephen Pearce said.“The facilities also extend the company’s debt maturity profile at attractive rates.“The success of Fortescue’s capi-
Monthly Indicators Period Latest Mar 12 Apr 11Unemployment Rate WA Apr 12 3.8% 4.1% 4.1%Seasonally Adjusted Rate Australia Apr 12 4.9% 5.2% 4.9%
Period Latest Month Year
Employment WA Apr 12 1,279,400 0.5% 4.0%Seasonally Adjusted Number Australia Apr 12 11,501,000 0.1% 0.6%ANZ Job Vacancies WA May 12 1,515 -5.1% -11.0%Seasonally Adjusted Number Australia May 12 7,218 -2.0% -17.2%Residential Building Approvals WA Apr 12 950 -46.7% -41.5%Seasonally Adjusted Number Australia Apr 12 10,330 -8.7% -24.1%Retail Turnover, Current Prices WA Apr 12 $2.5Bn -0.2% 9.5%Seasonally Adjusted Value Australia Apr 12 $21.2Bn -0.2% 2.4%New Motor Vehicle Sales WA Apr 12 10,238 1.4% 11.8%Seasonally Adjusted Number Australia Apr 12 89,261 -0.7% 7.3%Exports WA Mar 12 $9.6Bn 8.8% -6.8%Original value Australia Mar 12 $21.0Bn 10.3% -3.0%Imports WA Apr 12 $2.70Bn -33.5% 16.2%Original value Australia Apr 12 $18.81Bn -9.5% 8.5%Australian Dollar Australia 07 Jun 12 US$1.00 -2.3% -6.6%All Ordinaries Index Australia 07 Jun 12 4,156.7 -5.0% -10.6%
Quarterly Indicators Period Latest Quarter YearConsumer Price Index Perth Mar 12 155.5 0.2% 1.9%Index, 1989-90 = 100 Australia Mar 12 155.5 0.1% 1.6%Full Time Ordinary Time Earnings WA Mar 12 $1,514.3 -0.5% 4.0%Seasonally Adjusted $ per week Australia Mar 12 $1,346.0 1.1% 4.4%Population WA Sep 11 2,366,859 0.7% 2.6%Original, Number (Millions) Australia Sep 11 22,696,000 0.3% 1.4%Domestic Demand WA Dec 11 $41Bn -2.4% 11.1%Seasonally Adjusted, 2003-04 Prices Australia Dec 11 $326Bn 0.2% 4.4%Business Investment WA Dec 11 $11.9Bn -8.8% 28.4%Seasonally Adjusted, 2003-04 Prices Australia Dec 11 $49.4Bn -1.0% 19.6%Gross Domestic Product WA - - - -Seasonally Adjusted, 2003-04 Prices Australia Dec 11 $325.7Bn 0.4% 2.3%Balance of Payments Goods & services Dec 11 $2.0Bn -$2.8Bn -$2.3BnSeasonally Adjusted Value Net Income Dec 11 -$11.4Bn $1.5Bn $2.6Bn
Current Account Dec 11 -$9.4Bn -$1.3Bn $0.3Bn
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.
change during past:
Previous levels
change during past:
ANZ job advertisementsIn Western Australia, the number of job advertisements in major metropolitan newspapers fell 5.1 per cent to an average of 1,515 a week between April and May. Over the year to May, the number of job advertisements in WA is down 11 per cent. Nationally, the number of job advertisements in major metropolitan newspapers decreased 2 per cent to an average of 7,218 a week between April and May. Source: ANZ Bank
Interest ratesThe Reserve Bank of Australia cut the cash rate on June 6 by 25 basis points from 3.75 per cent to 3.50 per cent, bringing it to the lowest level since November 2009. The RBA cited increased global uncertainty and volatility in financial markets as the main reasons for the cut. It also pointed out the inflation outlook provided it with significant scope and flexibility to use monetary policy in the current uncertain global environment.Source: Reserve Bank of Australia
Commodity pricesIn Australian dollar terms, the index of Australian commodity prices increased 0.9 per cent between April and May. However, the index is down 7.6 per cent over the year to May. Measured in US dollars, Australia’s commodity price index is down 13.6 per cent over the year to May. The non-rural component increased 3.4 per cent between April and May to stand 7.4 per cent lower than a year previously.Source: Reserve Bank of Australia
Arccon, which is a subsidiary of the Allmine Group, has also expressed interest in providing engineering, procurement and construction services for Woodlark Island, Kula said in a statement.The feasibility study for Woodlark Island is due to be completed in the third quarter of this year.A turnkey EPC contract will be of-fered at that time, Kula said.
Cooper & Oxley to build Butler train station08-June-2012 by Staff reporterCooper & Oxley has been appoint-ed by the state government to build a $22 million Park ‘n’ Ride train station at Butler.“The Butler extension will provide a valuable transport service to the rapidly-growing northern communi-ties, and will also ease congestion on the road network,” Transport Minister Troy Buswell said. “We expect more than 2,000 pas-sengers to board at the station each week day. The new Butler station will be located north of the future Butler Boulevard. “Following a comprehensive ten-der and selection process, I am pleased this important project will be done by a Western Australian company with more than 60 years experience in the building and construction industry.”Forward works for the station have been completed, and construction will kick off before the end of the month.The new station has been designed by Coniglio Ainsworth Architects.
Kentz wins $17m Ichthys deal07-June-2012 by Staff reporterEngineering and construction com-pany Kentz has won a $17 million telecommunications contract for the Ichthys LNG development in Darwin.Systems to be provided by Kentz include voice and data networks, land and marine radio communica-tions, fibre optics, CCTV and secu-rity and an early warning cyclone siren system.The works are expected to be completed late next year.
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COMMODITY PRICE INDEX Australia, 2001-02=100
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BIG BALANCE: Fortescue Metals Group has secured $US490 million to underpin its Pilbara expansion plans. Photo: Fortescue Metals
24 | June 14, 2012 www.wabusinessnews.com.au WA Business News
“Profit From Our Experience” phone 9481 4422
BUSINESSES FOR SALE www.buyabusiness.com.au
Soon for saleHuman resource: $5.8m; mining services $5.7m; resources construction $5.6m; entertainment centre $1.7m; professional medical tourism $1.25m; Kewdale industrial land $4.6m; security business $1.2m; import/manufacture $950,000. Richard Marr: 08 9481 [email protected] WA’s Business Broker
Metro-based bus charter business Price: $1.1m.General charter work plus secure PTA contract. School bus contract through to June 2027. Fleet of five buses, 57-seat to 21-seat capacity. Huge scope for additional charter work. PTA contract currently $252,000/year. Bus fleet in immaculate condition. PTA contract pays $1,306 per day worked direct into your account every second Thursday. GFC or not this business gives you guaranteed income for the next 15 years.Miles McNaughton: 08 9481 [email protected] WA’s Business Broker
Wholesale/distributionPrice: $945,000.Central location. Easy to operate. Expected 2012 turnover $13m. Terrific basis for expansion. Low customer numbers; cash customers only. Shows strong growth. Suit business migrant. Ideal family business. Sale due to ill health. Option to purchase expansion project. Lee Gregory/Wilna Fourie: 08 9481 [email protected] WA’s Business Broker
Fabrication and supply companyPrice: $4.2m.Established 1975; high-margin business with approximately two years forward work booked. EBITDA profit (under management) for 2011 was $1.5m-plus and 2012 is on track to do better. 65 per cent gross margin, small staff, exclusive agencies, consistent track record, highly respected.Miles McNaughton: 08 9481 [email protected] WA’s Business Broker
Country pubPrice: $1.7m.Lifestyle coastal town. Excellent presentation. Long lease. Good repairs and Mmaintenance
outlook per plant.34 motel rooms bringing in excellent occupancies. Adjusted net (Since opening of new coastal highway) of over $400,000 for six months of 2011-12.Murray Brown: 08 9481 [email protected] WA’s Business Broker
Liquor & General StorePrice: $700,000 plus stock.Located in Donnybrook Shire. Established for decades. Diverse income includes liquor, groceries, fuel, gas etc. Generates consistent profitability. Property available with subdivision potential.Wayne Cooper: 0407 997 777Statewide Business Brokers
Lighting businessPrice: $2.5m, including substantial stock.Well known and respected operator located in premium precinct. Supplying commercial and domestic lighting products. Highly profitable, easy to operate with exceptional presentation.Under full management, supported by a team of long-term employees. Excellent opportunity for further growth.David Knowles: 0412 195 402Zircom Business Marketing
■ FOR THE RECORD | GROWING BUSINESS
Verne Harnish
SHORTLY before Facebook announced that it was planning to go public, founder Mark Zuckerberg asked employees from around the world to attend a meeting at the company’s new headquarters in Menlo Park, California. About 2,000 of them gathered under a big white tent on the lawn. Everyone thought Mr Zuckerberg was going to talk about the impending IPO, but the 27-year-old CEO surprised them all by instead discussing priorities for 2012. He urged his team to stay focused in the year to come. . With so many businesses facing new competition around the globe, it may seem like practices such as slowing down to hold a strategy session aren’t important any more. But they are; setting a clear direction – and making sure employees know what it is – is more important than ever to keeping your company’s edge. You don’t have to set a battery of priorities to dominate your industry. I’m recommending to the companies I advise that they focus on a single theme, in an ideal scenario.We’re approaching halftime for 2012. Does your team know the key priority for the next six months? Pick one thing that will have the biggest impact on your company and focus on that. Look for the weakest link or bottleneck in your industry, your company, even yourself, and find a way to address it. That will help you to focus your mission on something that’s worth pursuing.It’s incredibly liberating to limit your choices – to only have one major thing to accomplish. If you get that done, many other elements of your business will almost take care of themselves. For instance, when I finally committed the time to writing the book Mastering the Rockefeller Habits, I found that getting it right helped me to solidify many other parts of my business. It attracted the right kind of customers and opportunities to help me grow my firm.Open to millionsNarrowing down your company’s focus will liberate you to do great things. In turn, opening up your company to tap into the brains, time, and effort of millions of others will accelerate your success.Over the last century, CEOs have needed to focus on getting the right people on the bus above all. Today, you still need to employ the best talent in paying jobs, but you also need millions of other brains on your side.Mr Zuckerberg’s genius is that the people doing most of the labour for Facebook – and creating its value – aren’t his employees. They’re you and me, the ‘volunteers’ who are posting pages on the site. None of us has been paid a penny to put our valuable content on the site – and he’s making a fortune from it. How can you get millions of volunteers on your side? That should be a key question at your next strategy session. Today, a simple effort like making an inexpensive, funny video that customers turn into a viral marketing sensation on YouTube can be worth millions. How can you inspire your company’s fans to contribute their knowhow and networks to your company? Stay focusedAjay Prahbu, COO of global outsourced engineering firm QuEST, has always given strategy high priority. It’s the reason the company, founded in 1997, now has about 3,500 employees and had about $180 million in revenues last year, with sales increasing by about 35 per cent a year. From the outset, QuEST had a clear mission: to win major clients in industries such as aerospace by serving as a challenger to the existing supply chain. “The entire company is focused on going after these customers,” Mr Prahbu says. QuEST won GE as its first account by finding ways to solve its engineering challenges faster and better than competitors. It distinguishes itself through extraordinary efforts to keep customers happy and protect their intellectual property.QuEST’s growth didn’t happen by accident. Twice a year the company convenes all of its key sales and engineering executives and other pivotal players in one location. “We spend three to four days of intensive thinking and talking about what we need to do in the next six months,” Mr Prahbu says. “The company focuses on setting goals, such as deciding which customers to pursue in the coming six months, and taking stock of its progress on existing initiatives. That helps us to align people.” Just as staying focused on strategy has helped Facebook, it’s also helped QuEST, which expects $300 million in sales this year. If you give strategic planning the same high priority he does, you’ll be surprised by what you can achieve – especially if you get your fans on board.
Verne Harnish is CEO of Gazelles Inc, an executive education and coaching solutions provider, and author of Mastering the Rockefeller Habits: What You Must Do to Increase the Value of Your Fast-Growth Firm.
Strategy and focus get numbers on your side
FACT FILE
Kentz said the contract took its work in hand in Australia to more than $1 billion, with involvement on other major jobs such as Chevron’s $43 billion Gorgon development.
BGC to redevelop nib Stadium07-June-2012 by Staff reporterBGC Construction will begin work next month on the $95 million re-development of nib Stadium, after the state government announced it as the successful bidder today.Sport and Recreation Minister Terry Waldron said today that all temporary sections of nib Stadium would be replaced, and a new permanent grandstand and open corporate seating would be com-pleted by March 2013.The new design is being produced by national architecture firm Cox Architecture, which was awarded a Victorian architecture medal last year for its AAMI Park rectangular arena development in Melbourne.The stadium will have a capacity of 20,500 once the first stage of the redevelopment is complete, and a reduced capacity of 9,500 while work is under way.“I am very pleased with the work the Department of Sport and Recreation and Building Manage-ment and Works has done in including this scope of work within our $95.14 million budget,” Mr Waldron said.“This is a fantastic result for our rectangular sporting codes as the redevelopment will provide a huge boost to the stadium amenity and, in turn, will provide a much better spectator experience.”
BriefsCity of Perth hikes parking, rates in budget08-June-2012 by Staff reporterMotorists driving to the City of Perth will be slugged 20 cents extra per hour for parking, while property owners will be slugged an average of 6 per cent more in rates under the council’s new budget, which was released last night.The city, however, did launch a weekend discount scheme for short-term car park users, offering 50 per cent lower rates for the first four hours at four city car parks; Pier Street, His Majesty’s, Cultural Centre and State Library.Lord Mayor Lisa Scaffidi said the budget had a strong focus on capital programs, with $85 million allocated for capital works.Completion of Forrest Place was allocated $11 million, an afford-able housing project in East Perth $9.2 million, and $13 million has been set aside for the new Cathe-dral Square library and plaza.“This long identified major civic building will ultimately draw peo-ple into a historic, but currently under used precinct that will be reborn and create a much-needed open space area on our city’s east side,” Ms Scaffidi said.Ms Scaffidi said the city’s revenue was expected to be $167 million, with an operating surplus of $20 million.Due to anticipated falls in invest-ment earnings, Ms Scaffidi said it was necessary to increase property rates by an average of 6 per cent.Commercial rates will increase to 4.876 cents in the dollar, office
to 2,565 cents/dollar, residential to 3.898 cents/dollar and vacant land to 5.13 cents/dollar.
Resolute to spend $US241m on mine expansion08-June-2012 by Dan WilkieGold miner Resolute Mining says it will cost $US241 million to ex-pand production at its Syama gold mine in West Africa, according to a feasibility report released today.Resolute said its expanded open pit mine plan for Syama com-prised a 15-year mine life, with 270,000 ounce annual production at $US720/oz.Further extensions are also pos-sible through an underground operation, the study said.Life of mine revenue is expected to come in at around $US1.9 billion.The $US241 million capital spend includes an 1 million tonne per year oxide processing plant, ad-ditional infrastructure, pre-produc-tion mining costs and construction of a high voltage power grid.“The extremely robust results of the expansion DFS confirms Syama as a highly profitable, long life operation,” chief executive Peter Sullivan said.
GR Engineering shares slump on Allied dispute05-June-2012 by Staff reporterGR Engineering Services’ share price has slumped to $1 after the company disclosed it was involved in a complex legal dispute with former client Allied Gold.The company has been pursuing a debt recovery claim to the tune
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Continued page 25
WA Business News www.wabusinessnews.com.au June 14, 2012 | 25
The Western Australian Trade Opportunities Service is operated by the International Trade Centre of the Chamber of Commerce and Industry WA.
BUSINESS AND TRADE
The Union of Chambers & Commodities Exchanges of Turkey has released its monthly list comprising of various import, export and general trade opportunities (Turkey) – 17747.
EXPORT GOODS OUT OF AUSTRALIAEgyptian National Railways has released a tender notice for the supply of a ballast cleaning
machine, a tamping machine, tamping of switch machine and a ballast distributing machine (Egypt) – 17743; Tender notice for the supply of 225MT of reinforcing deformed bars (Iraq) – 17752; Tender notice for the supply of 30MT of rice (Iraq) – 17751.
IMPORT GOODS INTO AUSTRALIAAgricultural machinery (Turkey) – 17749; Granite, marble, sandstone, limestone, slate, quartzite, paving and landscaping stones (India) – 17744; Health care and personal therapeutic devices, with a particular focus on eye products (South Korea)
– 17748; Night vision goggles, particularly for use in air search and rescue, policing and military (India) – 17750; Paints, primers, coatings and tint for all surfaces and all industries (Romania) – 17746; Plain and custom designed printed mugs of all shapes and sizes (China) – 17745.
For full details on any of the above trade opportunities please contact Nick Paterniti (quoting the relevant reference number shown) at the Chamber of Commerce and Industry of Western Australia on Tel: (08) 9365 7620 Fax (09) 9365 7616 or email [email protected].
SALESPEOPLE (not you, of course) are known for asking poor questions; questions that are not only embarrassing, but can make them appear desperate and pressing for a sale.The dumbest question in sales is: ‘What will it take to get your business’? It’s by far the worst question you can ask a customer. It makes you a price seller rather than a value provider, and it makes you look like you ‘need’ the sale rather than want to earn and grow a relationship.Reality: There is a close second to the dumbest question: ‘What keeps you up at night’? Are you kidding me? None of your business, that’s what.You’re at the beginning of a sales call, trying to build positive rapport and earn some level of ‘like’ and ‘trust’, and you’re asking me that kind of question? It’s almost as dumb as trying to ‘find the pain’. Please don’t get me started on 1972 sales manipulation and insincerity.Why not ask the prospect a question that relates to their real life and their present situation?Major aha! question: What wakes you up in the morning?It’s a positive question that, when asked with a smile, will get you real answers, real facts, and reveal real truths. It’s light hearted, but powerful, and when followed up with ‘what else’ or ‘then what’ will create a dialogue that is totally customer focused yet interactive. Below are possible answers. Here’s what to do: Think of all these answers in terms of yourself, first. What wakes you up? It reveals your top-of-mind thoughts, issues, concerns, goals, problems, and attitude toward them. Got it? You ask, ‘What wakes you up in the morning?’; they answer:• Alarm clock. Easy answer. Leads to, ‘Then what’?• Kids. Great answer. Leads to all kinds of mutual discussion points and common interests if you also have them.• Relationships. A bit touchy. Let the prospect lead.• Coffee, shower, exercise, the news. These subjects will provide more superficial answers that might reveal things in common.• The day and things to be done. People will make their day more important than your day. And you’ll feel it when they chatter and complain about ‘having so much to do’.Now let’s take it deeper. Asking the ‘then what?’ question will get them to the next phase of their reality. You might ask, ‘What else wakes you up?’, or the more powerful, ‘Then what?’; they might say: • Money, or the lack of it. Think of this one in terms of yourself. Go lightly, but it’s very revealing. • Health issues. If they have a physical ailment or some medical condition, it may affect their decision-making capability.• Energy/positive anticipation. This is great. An enthusiastic person can connect with your compelling presentation and catch your positive feelings. The stuff he or she is excited about. These are golden issues that need to be embellished and compared to what it will be like when your stuff gets its chance.• Big issues. Tax, business failure, damaged reputation, lawsuits. A pending merger or pending big order could be a positive light.• Business issues. The day-to-day often gets in the way of the month-to-month and the year-to-year. Stay away from the mundane, and be aware of the complainer.• Personal issues. Family and relationship issues can have a real impact (either way) on your meeting outcome. • Career issues. Work, boss, sales, people, and events can have huge implications on your need to do something today. • Nagging issues (worries). These are elements that slow down the actions a business is willing to take. If you know what they are, you’ll be less likely to be impatient, and more likely to create a winning plan to make the sale.• Unfinished issues. Stuff undone. ‘Wait until after…’ are defeating words to the ears of salespeople. But if you know what they are, you can get a better sense of ‘when’.• Deadlines. If it’s close, you’re toast. And the best thing you can do is offer assistance.Major clue: Don’t overdo the process. Ask a few questions, gain a few answers, and then move on. As a result, you have some new information, maybe some common interests, a few smiles, and certainly a thinking prospect.
The right questions help build rapport
SALES SESSIONS | FOR THE RECORD ■
FACT FILE
of $4.5 million against Gold Ridge Mining Limited - a wholly owned subsidiary of Allied Gold - which it initiated in June last year.The claim relates to an engineer-ing, procurement and construction contract between Gold Ridge and GR Engineering for the expan-sion and refurbishment of the Gold Ridge Mine in the Solomon Islands.In a statement to the ASX this afternoon GR Engineering revealed Gold Ridge had served a coun-terclaim for losses arising from alleged defects and alleged repre-sentations regarding performance and damages for approximately $25 million.GR Engineering said the allega-tions were inconsistent with previous public announcements made by Allied Gold in relation to the performance of the Gold Ridge plant.Managing director Joe Ricciardo said the company would vigorously defend all counterclaims and con-sidered them to be without basis.“The company has forged strong relationships with its clients built on integrity with fair and honest commercial dealings,” Mr Ricciardo said.“GR Engineering will aggressively protect its reputation and excellent industry track record through a vig-orous defence of what we consider to be an ambit counterclaim.” An arbitration between the two companies is scheduled to pro-ceed to trial in November 2012.The slump in GR’s share price has brought it back to the issue price for its initial public offering in early 2011. The stock rose strongly after listing but has been sliding this year.
Aquila study positive for Pilbara project05-June-2012 by AAP and staff reporterAquila Resources is a step closer to realising its $6 billion West Pil-bara iron ore project after studies showed that two mines that would supply the overall development were economically and technically feasible.Aquila is a coal producer but wants to join the ranks of iron ore miners, and released today feasibility stud-ies on two key proposed mines in the project in Western Australia.Shares in Aquila were up eight cents, or 2.87 per cent, at $2.87 by 1500 AEST.Despite today’s rise, Aquila’s share price is still near a three-year low and down more than 51 per cent this year.Aquila said the studies found the Mt Stuart Iron Ore Joint Venture (JV) could produce 289 million
tonnes over 16 years, while the Red Hill JV could contemplate pro-duction of 70 million tonnes over 14 years.Aquila is yet to confirm it has won the right to build a new port for the project at Anketell Point in WA, which is crucial to secure the majority of $3 billion in funding needed to develop the project.There are concerns about whether Aquila can fund the integrated mine, rail and port development and has been selling many of its coal assets to raise cash.A feasibility study on the complete project is expected before the end of the year, with $400 million already spent on its development.First iron ore shipments are tar-geted for 2014.Aquila is a 50 per cent partner in the project with US private group American Metals and Coal Interna-tional, which is controlled by South Korean global steel giant Posco.
Jupiter Mines boss hands in notice05-June-2012 by Staff reporterBrian Gilbertson’s Jupiter Mines has appointed a new chief execu-tive after incumbent Richard Me-han announced his resignation.Jupiter chief operation officer Greg Durack will take up the helm of the company, effective immediately.Mr Mehan, who was formerly Cliff Resources’ Asia Pacific president and chief executive, will remain with the company to allow for a smooth transition.Mr Mehan joined Jupiter in May 2011.Jupiter is looking to develop iron ore projects in Western Australia’s central Yilgarn, near Southern Cross, and holds significant man-ganese assets in South Africa.The company also owns the Klondyke gold project, near Marble Bar.
Bankwest amends misleading credit card ads04-June-2012 by Staff reporterBankwest has agreed to make changes to recent advertising for its Breeze MasterCard after ASIC raised concerns that the advertise-ments were misleading or likely to mislead.Bankwest claimed in print adver-tisements that the Breeze Mas-terCard was ‘Australia’s Cheapest Credit Card’. This claim was based on a recent award from Money magazine.ASIC reviewed the award and discovered that the Breeze MasterCard was only the cheapest credit card offered by banks.It found there were some other issuers, such as credit unions, that offered cheaper credit cards. ASIC said Bankwest has been proactive in responding to its concerns and is taking a number
of steps, including: amending the advertisements, and contacting consumers who have taken out the Breeze MasterCard.‘A careful approach should always be taken when promoting awards in advertising for financial products and services to ensure consumers fully understand the basis on which they have been made. Importantly, awards should be adequately explained to ensure they do not mislead consumers’, ASIC commissioner Peter Kell said. ‘ASIC will continue to actively monitor advertisements for financial products and financial services and will take appropriate action in response to misleading advertisements’, he said.
Apache has tactical Varanus win04-June-2012 by Staff reporterApache Energy won court approval late Friday to release two docu-ments that support its view that it took reasonable steps to maintain a pipeline at the Varanus Island gas plant prior to a June 2008 explosion.The court ruling followed the release of an official state govern-ment report by Kym Bills and David Agostini, which was critical of Apache.Apache said the two documents re-leased late Friday support its view that the company acted “reasona-bly in its inspection and operation” of the crucial gas pipeline.The two documents - one prepared by a State investigator and another by the State’s corrosion expert - provide “proper context” for the Bills-Agostini report, Apacher said.In a report on the explosion com-pleted in February 2009, Alic Trp-cev, the State’s senior investigator, said the prospects of a successful prosecution of Apache for failing to maintain the Varanus Island pipeline “would be slight.”In a second document, corrosion expert Prof. Rolf Gubner of Curtin University, concluded in July 2011 that Apache “had reasonable grounds to believe the pipeline was in good repair” prior to the explosion.Mines and Petroleum Minister Norman Moore has previously criticised Apache for seeking the selective release of the two docu-ments.He said that other documents sup-port the Bills-Agostini report, which concluded that the accident was “not only foreseeable but to some extent foreseen” by Apache.The Bills-Agostini report also ques-tioned Apache’s staffing levels, systems and safety culture.
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| COMMUNITY & ARTS SECTOR ■
26 | June 14, 2012 www.wabusinessnews.com.au WA Business News
IN BRIEF
One-stop site for charitable givingOneDonation is a new online portal for people who want to self-manage their own charitable giving.
The one-stop shop was developed by eastern states-based The Giving Network and has 1,000 charities on its books and enables members to donate to multiple charities periodically from one destination online.
“Many individuals support multiple charities and traditionally the ability to manage all their charitable support has been complex and time consuming with multiple receipts, direct debits etc,” a release from OneDonation said.
“This innovative, new online platform allows donors to take control of their giving and to provide them with choice, anonymity and ease of use through the creation of their own unique charity portfolio.”
New South Wales-based s enator Ursula Stephens endorsed the development and said “OneDonation is a unique new giving platform in Australia that fills an important gap”.
“The focus is on individuals as donors and makes online giving just like online banking – able to be managed without fuss and with flexibility,” Ms Stephens said.
“I commend all those involved in supporting efforts here in Australia to grow our culture of giving and certainly encourage both charities and donors to get on board.”
Branding to give Anglicare voiceIT’S not common for a community services organisation to go through a rebranding process.
That is partly because not-for-profit stakeholders want to know what the value of a rebrand is and why money is being spent developing pretty logos instead of delivering services.
Not-for-profit organisations come up against this often. They question why they should spend money on seemingly superfluous things like new buildings, market research and glossy brochures.
Anglicare WA is one organisation that has been prepared to run the gauntlet and spend money on market research, developing a mechanism to measure the organisation’s results and outcomes and is about to roll out its new brand this week.
The organisation’s chief executive, Ian Carter, is unapologetic about this. He believes the organisation’s new strategic direction and brand is posi-tioning it well to have a strong voice.
The rebrand was conducted by marketing and communications agen-cy Rare, which developed a new logo, tagline and colour scheme to promote and define the organisation’s broad range of services and a colourful mosaic that will be used on a range of Anglicare WA’s promotional material.
Rare took the job on eight months ago after it came out on top of a ten-der process. It initially conducted a series of extensive workshops with the organisation’s executives, mid-dle management, staff, suppliers and stakeholders to establish what the purpose of the rebrand should be.
Rare director Richard Beards said this was an interesting case because Anglicare WA did not need to attract new clients, its services are already in high demand.
The purpose was to develop a strong image to present to its gov-
■ Emily Morgan
ernment and corporate stakeholders, with the aim of potentially increasing support and moving into a bold style of leadership in lobbying.
Rare works from the premise that every industry is entitled to use branding strategies to home in on its audience, regardless of it being a not- for-profit or a commercial business.
“It doesn’t matter if it is a com-mercial or not-for-profit business, everybody needs to sell themselves to somebody,” Mr Beards said.
“There aren’t too many distinctions between those two groups, it is just about defining that audience.”
The old brand had been in place for 13 years and, after conducting market research, Anglicare WA discovered it was associated with ‘stodginess’ and ‘tiredness’.
The organisation is a complex beast, with 40 offices across the state. It provides 57 services to 38,000 peo-ple under the categories of relation-
ships, finances, housing, youth, com-munity and training.
This covers people across the spec-trum of “only just surviving” right through to those who are “thriving”, as Mr Carter puts it.
The organisation’s new tagline ‘For Today. For Tomorrow’, was developed to respond to the question of how best to represent its extensive service range and client base.
Mr Carter was keen to ensure the organisation was given a strong face for its engagement with government. It receives 70 per cent of its funding from government but that does not mean he is prepared to lie down and play dead.
“We have an ongoing mandate to not only deliver service, but to speak out,” he said.
“We didn’t want to be the cower-ing agency that just delivered ser-vices … we didn’t want to be just a deliverer of contracts, we wanted to
be saying, ‘this is not good enough, housing affordability is a major crisis in Western Australia, homelessness is out of control, there is a two-tier society here’.
“We wanted to speak out about that and we have now consciously gone into that mode.”
The balance of Anglicare WA’s funding comes from philanthropists, its op shop social enterprises and fee-for-services work.
Op shops have been synonymous with Anglicare WA since its inception in 1976 but Mr Carter said the organi-sation was considering the viability of the shops due to the retail downturn that had led to slow sales.
Discount department stores were also lowering prices to the level of those in op shops and therefore were new competition, he said.
The rebrand will be used across the organisation.
NEW LOOK: Ian Carter was keen to ensure Anglicare WA was given a strong face for its engagement with government. Photo: Grant Currall
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Once more, with feeling
You don’t have to tell these folk to sing their hearts out. The Spirit of the Streets Choir is a place where people from all walks of life feel like they belong. And when they sing, their joy and enthusiasm is infectious. You can’t help but feel good. And they’re supported by you through the Lotterywest games you play.
