May
Ellison shrugs off MinRes downgrade for haul road charm offensive
The embattled mining magnate personally showed shareholders around Mineral Resources’ $3b Onslow Iron project, shortly after cutting its production forecast.
Footage reveals state of MinRes’ crucial road ahead of investor visit
Chris Ellison will front a tour of the project to reassure analysts and shareholders that repairs are working, despite another cut in production guidance.
Can MinRes’ cleanskin chairman tame the Chris Ellison show?
Malcolm Bundey will have one of the biggest governance mop-up jobs in years, with the heavily indebted miner facing investigation by the corporate regulator.
MinRes’ new chair to pocket $8.34m if he turns miner around
Mineral Resources board has lured Malcolm Bundey, a packaging sector veteran, to become its chair with a bumper package of share options.
Super giant dumps MinRes stake as board changes loom
HESTA has sold its remaining holding after it criticised the Chris Ellison-led miner for its lack of action on improving its corporate governance.
April
MinRes rules out equity raise as debt mountain hits $5.4b
The diversified miner burnt through $300m of cash in three months, but its shares jumped as fears of a dilutive share placement were alleviated.
Gina Rinehart-backed Delta Lithium to spin out WA gold mine
The junior explorer will separate its gold assets into Ballard Mining and launch an IPO to take advantage of astronomical demand.
Sign here! MinRes succession goes to petition
One of Chris Ellison’s most loyal associates launched an unlikely way to keep him at the embattled miner.
MinRes loses the final member of its board ethics committee
Denise McComish’s abrupt exit follows the departure of Jacqueline McGill and Susie Corlett from the West Australian miner, which already had investors on edge.
Super funds demand answers after MinRes board exodus
Susie Corlett and Jacqueline McGill have been critical of founder Chris Ellison, and their exit has raised questions about plans to overhaul governance.
MinRes and Chris Ellison face class action over ‘misleading conduct’
The loss-making miner has rejected claims its share price was “artificially inflated by the company’s misconduct” and that investors suffered losses as a result.
March
L1 Capital chases MinRes’ sinking stock
The Melbourne firm continues to be a buyer of the shrinking Perth-based miner.
Ellison-run garnet mine faces punishment over unsanctioned development
The Lucky Bay operations are already behind schedule, with WA officials finding six evaporation ponds were built without permission from authorities.
Ellison loses billionaire status after MinRes shares collapse
The New Zealander’s net worth is estimated to have fallen below $1 billion after shares in the miner he founded fell 40 per cent over the past month following a stream of setbacks.
Leaked report a glimpse into MinRes’ troubled road to nowhere
Slicing through the Pilbara at a cost of hundreds of millions of dollars, the Onslow road, which opened last year, was meant to be paved with gold. Instead, it is crumbling.
February
Three charts reveal how MinRes’ Ellison is feeling the market’s wrath
The former sharemarket darling is now the ASX’s most shorted stock amid mounting concerns about its ability to repay its debts.
MinRes v the market: Ellison taken to the cliff edge
The mining magnate’s attempts to calm market fears resulted in MinRes shares cratering.
MinRes shares plummet as Ellison deflects capital unease
The admission that heavily indebted MinRes would spend $230 million to repair its flagship Onslow haul road put its $5.1 billion debt burden in sharp focus.
MinRes dives to $800m loss and slashes iron ore guidance
The Chris Ellison-led miner cut forecasts for iron ore shipments after cyclones damaged its Onslow haul road, dragging its shares to lows not seen since 2020.
Broadening the director talent pool could help fix the ‘founder problem’
Innovative entrepreneurs with the relevant skills and experience are disqualified from serving on the boards of companies that would benefit from their presence.