Latest news with #WesternAustralia-based
Cision Canada
3 days ago
- Business
- Cision Canada
Cannon Resources Announces Major Resource Expansion and Significant Development Momentum at Fisher East Nickel Project
Updated Resource, High-Grade Discovery, and Accelerated De-risking Underscore Fisher East's Strategic Value in the Global Critical Materials Supply Chain TORONTO and PERTH, Australia, June 18, 2025 /CNW/ - Cannon Resources Pty Ltd ("Cannon" or "the Company"), a Western Australia-based nickel exploration and development company backed by Kinterra Capital Corp. ("Kinterra"), is pleased to announce a significant update to its flagship Fisher East Nickel Project ("Fisher East" or "the Project"). This latest milestone includes a major increase in the Project's Mineral Resource Estimate (MRE), a high-grade discovery at depth, and ongoing permitting and technical progress—all of which position Fisher East as one of Australia's most actionable and strategically important undeveloped nickel sulphide assets. Fisher East offers a rare blend of high-grade, near-surface mineralisation, simple deposit geometry that supports conventional underground mining methods, and a relatively low initial capex requirement. The Project continues to demonstrate the scale, quality, and development readiness that investors and partners are increasingly prioritizing. Material Growth in Resource and Grade Since acquiring the Project in 2023, Cannon has delivered transformative growth. The updated JORC-compliant MRE now stands at 18.0 million tonnes at an average grade of 1.9% nickel. This represents a 250% increase in tonnage from the prior estimate, and a substantial uplift in contained nickel—from 134.1 thousand tonnes to 338.5 thousand tonnes. Importantly, the grade profile has also improved from 1.74% to 1.90%, reinforcing the Project's economic potential and resilience in a range of nickel price environments. Notes: Mineral Resources have been classified in accordance with the JORC Code. All material is classified as either Indicated or Inferred Mineral Resource. Reporting cut-off grade of 0.9% Ni has been applied. BD values were calculated using regression formulas based on BD (bulk density) measurements and interpolated. Material from oxide and transition zones was excluded from the statements. Rows and columns may not add up exactly due to rounding. This growth reflects not only the strength of the underlying geology but also Cannon's consistent execution of a targeted and technically rigorous exploration program. High-Grade Intercepts Extend Musket System at Depth In addition to the broader resource increase, Cannon has uncovered strong new evidence of depth extension at the Musket deposit. In May 2025, drillhole MFED239—a co-funded drillhole under the Government of Western Australia's Exploration Incentive Scheme—intersected an estimated four metres of massive and disseminated sulphide mineralisation grading approximately 4.0% nickel. Final assays for MFED239 are expected in July 2025. The intercept lies 320 metres down plunge of the current Musket resource model and offers compelling indications of both continuity and grade uplift at depth. A downhole electromagnetic (DHEM) survey conducted on the hole identified a strong off-hole conductor both up and down plunge, suggesting even greater potential for continued growth within the deeper portions of the Musket system. DHEM has been very successful at Fisher East in identifying conductors that have mineralisation, and additional drilling is being planned. "These results point to a larger and more robust mineral system than previously defined," said Chris O'Brien, Vice President and Project Director at Cannon. "We're seeing increasing grade with depth, strong geophysical continuity, and room to grow well beyond the current model. These fundamentals will support long-term value." Mineable, Resilient, and Commercially Attractive Fisher East includes multiple zones grading above 2.0% nickel, allowing for flexible mine sequencing and margin protection in volatile nickel price cycles. Its shallow depth and straightforward mineralogy contribute to a low capital intensity profile. In a market where clean, economic, and secure nickel supply is becoming increasingly scarce, Fisher East offers distinct advantages, including jurisdiction, scalability, and potential early value generation. Strategic Outlook: Path to Development With two major resource updates completed in under two years, a high-grade extension emerging at depth, and permitting and technical studies well underway, Cannon is entering the next phase of value creation. The Company has now initiated engagement with potential offtake partners and financing partners. "Our vision is to build a modern, resilient, nickel supply chain anchored in Tier-1 jurisdictions," said Cheryl Brandon, Co-Managing Partner at Kinterra. "Fisher East embodies the kind of high-grade, technically sound, and commercially viable project the market needs—and we're excited to support Cannon as it moves forward." Cannon will continue to release updates as assays for recent drillholes are received and technical milestones are achieved. A QA/QC summary for this release will be included in the upcoming technical appendix following final laboratory confirmation of results. About Cannon Resources Cannon Resources Pty Ltd is a Western Australia-based mineral exploration company focused on the development of the Fisher East Nickel Project. The Project comprises eleven granted exploration licenses covering a total of 330.6 km² in the North-Eastern Goldfields region and hosts four known nickel sulphide deposits: Musket, Camelwood, Cannonball, and Sabre. For more information, please visit About Kinterra Capital Kinterra is a Toronto-based private equity firm investing in the people, ideas, critical materials, and infrastructure shaping the modern economy. With deep sectoral expertise and long-term investment discipline, Kinterra partners with exceptional teams to unlock the full potential of world-class assets. Learn more at Disclaimer The mineral resource estimates in this release are based on Cannon's initial exploration findings and interpretation. These estimates are subject to change as additional data becomes available through further exploration and evaluation of the Project, and Cannon undertakes no obligation to update any of the contents of this release or to correct any inaccuracies that may become apparent following the date hereof. This release contains forward-looking statements, including, but not limited to, Cannon's exploration activities, project development initiatives, and potential partnership engagement. These statements are based on an assessment of present economic, technical, and operational conditions and on several assumptions regarding future events and actions that, as of the date of this release, are considered reasonable. Such forward-looking statements are not a guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, and other important factors, many of which are beyond the control of Cannon. Cannon cannot and does not give any assurance that the results, performance, or achievements expressed or implied by the forward-looking statements contained in this report will actually occur, and readers are cautioned not to place undue reliance on these forward-looking statements. Cannon has no intention to update or revise forward-looking statements or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this release.
Sky News AU
19-05-2025
- Business
- Sky News AU
Finance Sector Union demands Commonwealth Bank of Australia justify job cuts after posting multi-billion dollar profit
The Finance Sector Union (FSU) has torn into Commonwealth Bank of Australia for slashing more than 150 roles just days after revealing a $2.6 billion quarterly profit in the latest skirmish between the major union and Australia's largest bank. CBA told workers 163 positions at the company will go, with 105 coming from the company's main arm and 58 from its Western Australia-based subsidiary Bankwest. The FSU said the bank told staffers about the cuts within days of revealing a six per cent profit increase in the March quarter over the same quarter last year. Of the 105 CBA jobs lost, 90 are located in New South Wales, while the remainder are in Victoria, Tasmania, Western Australia and Queensland. Jason Hall, the FSU's National Assistant Secretary, said the recent job losses brings the total cuts across CBA and Bankwest in the past year to almost 800. 'While CBA's profits have swollen in the past year, they have sacked almost 800 workers in piecemeal announcements, no doubt in the hopes that these smaller job numbers wouldn't be widely noticed,' Mr Hall said in a statement. 'CBA has provided insufficient detail about the latest job cuts to enable genuine consultation. The FSU has written to the bank seeking more information on the rationale for the cuts and the impact on remaining teams. 'CBA and Bankwest workers deserve job security but with announcements of job cuts every couple of months, they are instead wondering when and where the next axe will fall.' Mr Hall said the latest cuts are mainly in customer service roles and the job losses at Bankwest are 'particularly concerning' after CBA committed to 500 new roles in WA. 'Now these latest round of Bankwest cuts mean CBA has slashed almost 150 Bankwest jobs since the start of the year,' he said. 'CBA must explain to its workers and customers how it can justify these actions after another quarter of hefty profits.' A CBA spokesperson said the major bank has hired almost 3,000 people since the start of the year and is investing more than $2b this financial year in the bank's operations. 'Like many organisations, we regularly review how we are organised to deliver the best experiences and outcomes for our customers,' the CBA spokesperson said. 'That means some roles and work can change. Our priority is always to redeploy or reskill for a new role or opportunity wherever possible.' The fresh sackings follows the FSU demanding answers from CBA over the axing of 164 jobs from the bank's technology division. Just weeks after this, the FSU hit out over plans to axe 90 roles at Bankwest.
AU Financial Review
15-05-2025
- Business
- AU Financial Review
Sanjeev Gupta's Whyalla port row gives contractor a $113m headache
Mining contractor NRW has warned of a $113 million impairment from a messy dispute over who controls the Whyalla port near the loss-making steelworks seized from Sanjeev Gupta's empire in February. NRW shares plunged by more than 8 per cent in early trade on Thursday after the Western Australia-based company came out of a trading halt on the ASX.
Sky News AU
08-05-2025
- Business
- Sky News AU
Peter V'landys takes dig at AFL as Perth Bears confirmed to enter the NRL in 2027, adding competition to Western Australia's sport sector
Fans of the fallen NRL side the Bears have rejoiced with Perth confirmed to be the new home of the beloved club as it will return to the competition in 2027. The announcement the Perth Bears would be joining the NRL in under two years' time marks the first time a Western Australia-based rugby league club will be playing in the top grade in 30 years after the Western Reds who competed from 1995 to 1997. It will also mark the return of the Bears after a two-and-a-half decades long exodus since they were booted from the competition at the end of the 1999 season. The confirmation of the NRL's expansion has not made everyone happy though, as it appears to have reignited the code war with the AFL in turn. Seven West Media's paper The West Australian published the headline on the front page "THE BAD NEWS BEARS", adding: "Rugby-mad Roger Cook forces WA taxpayers to pay Sydney's NRL rejects $65m to play in Perth". The media conglomerate has an allegiance to the AFL, especially after Seven signed a broadcast rights deal with the AFL and Foxtel for $4.5 billion from 2025 to 2031. Channel 9 will be broadcasting some NRL games when they are played in Perth, adding some competition for viewership with the AFL. The AFL currently has two Western Australia-based teams - the West Coast Eagles and Fremantle Dockers - which both play at the 61,000 Optus Stadium. When asked about the local media coverage of the Bears announcement, Australian Rugby League Commission chair Peter V'landys said he felt it had been biased against the NRL, and warned the AFL should be worried about the competition the code is set to bring to the state. "I think the media coverage has been a bit biased, in the sense that the main newspaper here is owned by Seven West Media, that has the AFL rights, let's be quite frank," he told reporters on Thursday at Perth's HBF Park, set to be the home ground of the Bears. "They don't want us to be here, because they realise we're going to be competitive and we're going to take some of the lunch, and we eat a lot so we'll be taking a fair bit of their lunch." At the press conference on Thursday, Mr V'landys said there would be a $50 million return on investment to the WA government. 'It's a gold mine,' Mr V'landys said. 'It's going to have a massive return to the government here... our figure was a $50 million (annual) return. 'The beauty of this team is you're going to have 200,000 members coming from NSW for the Bears. And the Bears are a very tribal club and (the fans) will travel.' WA Premier Roger Cook said "every dollar of WA government support" will be spent in WA to "develop the game". The agreement with the NRL includes $65.6 million in financial support from the government over seven years, with the Premier predicting WA taxpayers to benefit from the return on investment.
Yahoo
28-02-2025
- General
- Yahoo
Alarm as magpie filmed exhibiting strange behaviour: 'It's not normal'
An Australian magpie has been discovered exhibiting behaviour so strange, alarmed experts have taken the wild bird into care. One video shows it rolling around on its back like a cat and playing with a pen. In another, it can be seen fearlessly perching on his rescuer's leg and feeding from their hands. 'Three nights ago, I was putting the rubbish out and he just flew really fast towards my shoulder, but he misjudged the distance. Then he stopped and jumped on me. This isn't normal behaviour for a wild bird,' licensed bird rescuers Paula and Bridgette Powers told Yahoo News. The twins believed the juvenile magpie had been raised to associate humans with food, and that's why it approached them. 'He just wanted help, the poor little thing,' they said. The Powers sisters have decades of experience rehabilitating native birds and were mentored by the late Steve Irwin. They suspect the magpie, who they've named Sky, may have been dumped or dropped over the fence at their Twinnies Pelican and Seabird Rescue shelter on Queensland's Sunshine Coast. Related: 🏡 Desperate plea to Aussies after sick magpie found in home Registered wildlife carers are trained to rear orphaned or abandoned wildlife using specialised practices that prevent them becoming attached to humans or other domestic animals living in their homes. It could take months to rehabilitate the magpie so it becomes wild again. Problems with members of the public taking magpies from the wild occur across the country. When Western Australia-based Yas Hunter began working in wildlife rehabilitation close to 20 years ago, she'd see four or five humanised magpies admitted annually. But over the last three years that number has skyrocketed, and in 2024 the practice she managed treated 35. 'These are not magpies that are just a little bit humanised and come up to people for food like a lot of the urban magpies do. These are magpies with clipped wings. They land on people's shoulders thinking they're part of the human family so they have issues socialising with wild magpies,' she told Yahoo News. 'These are birds that cannot be easily released into their wild magpie family and they need to undergo a lot of rehabilitation.' 🐕 Call for answers after poison found buried in endangered predator's habitat 🦎 Stop work at airport after warning project will be 'nail in the coffin' for threatened animal 🍽️ Rare species to be served up to Aussie diners as certified 'sustainable' meal Taking home wild birds and not surrendering them to a licensed wildlife rescuer, carer, or vet is generally illegal in Australia. In 2024, Yahoo wrote about two of the humanised birds admitted to Hunter's clinic, Potato and Mildred. And the very different outcomes of their journeys highlight the problem of taking a bird from the wild can cause. 'We lost Potato. She had an underlying fungal infection in her body, aspergillosis. We picked up on it early and started treating her, but unfortunately she couldn't be saved,' Hunter said. While Aspergillus is found naturally in the environment, animals kept inside with poor ventilation can become more susceptible to the fungus. Potato's care team suspect the stress of her confinement likely caused her immune system to weaken, leaving her unable to fight the infection. 'She was taken from the wild, her wings were deliberately clipped and she was forced into a yard with a dog. She was terrified of humans and dogs, so it was devastating for her,' Hunter said. Mildred's fate was a happier one. She came into care at the same time as Potato, and after months of care she was released this week with a large flock of surrendered pets. 'We're just so proud of Mildred, she was one of the most humanised birds. She was scared of being outside, she was scared of the sun, and if another bird flew over her she would scream and hide. It took a good 12 months, and she no longer wants anything to do with humans,' Hunter said. 'Downright depressing' is how Hunter describes the ongoing saga of Australians taking magpies from the wild. Some people who have surrendered humanised birds have told her they were inspired by the Peggy and Molly social media accounts, which feature a "wild" magpie interacting with pet dogs. While the page's creators do not encourage followers to take birds from the wild, some misguided fans have tried to recreate what they've seen on the internet at home. 'These birds could have had a great life with their family, and not had to go through a year of rehabilitation,' Hunter said of birds taken from the wild in Western Australia. 'I'm not sure what we're getting wrong in terms of education. People don't seem to understand what they should do if they encounter wildlife. They seem to think they can do whatever they like with a wild animal.' Love Australia's weird and wonderful environment? 🐊🦘😳 Get our new newsletter showcasing the week's best stories.
