Canadian miner Laramide is planning a $10.2 million float as it develops its Westmoreland uranium deposit in Queensland. The miner, already listed on the Toronto Stock Exchange, hopes to list locally next month and plans to use the cash raised on more exploration at Westmoreland, one of the 10 largest uranium deposits in Australia.
LAKES OIL BOARD
Mining magnate Gina Rinehart has chosen the former foreign minister Alexander Downer as her second representative on the board of oil and gas explorer Lakes Oil. Mrs Rinehart's Hancock Prospecting bought an 18.6 per cent stake in Lakes Oil this week. As part of the deal, Lakes Oil agreed to appoint climate-change sceptic and mining geologist Ian Plimer to its board.
Aquila Resources has the green light from the West Australian government to develop Anketell Port as part of its $6 billion iron-ore project. Development of the port is crucial to Aquila securing $3 billion in funding it needs for the project.
The Queensland Farmers' Federation says farmers are facing losses of $100 million from the floods, particularly crop farmers around Bundaberg. Cotton, dairy and pork farming have also been hit hard.
Tiger Airways shareholders have approved Virgin Australia's plan to buy a major stake in the budget airline. Virgin says the vote moved it a step closer to completing the $35 million deal. Approval is needed from the Foreign Investment Review Board and the Australian Competition and Consumer Commission.