Business news from across the Northern Territory: The latest highlights include PropTrack’s report showing Darwin’s vacancy rates going down; Novotel Darwin CBD being awarded NT’s first Sustainable Tourism Certified urban business; and Halikos Group changing its name to DCOH, revealing a giant new contract. Also making resource news is King River continuing the NT copper-gold hunt, and Bubalus give the green light for maiden drilling at Nolans East.

Real estate

Darwin vacancy rates go down

The latest PropTrack Market Insight Report show Darwin’s vacancy rate fell 0.43 per cent point in April to 1.77 per cent, the highest monthly vacancy rate drop in the country. It also marked the third successive month where Darwin experienced a decline in rental vacancy.

“Darwin recorded the largest quarterly decline (-1.07 percentage points) in rental vacancy nationally and the largest drop in available rental properties (-63 per cent) compared to March 2020,” PropTrack economist Anne Flaherty said. “Despite this, Darwin’s vacancy rate of 1.77 per cent in April was 0.14 percentage points higher than a year ago. This is less than half the level that is considered a healthy rate of vacancy.”

Companies

Halikos changes name to DCOH, reveals a giant new contract

Halikos, one of the NT’s largest construction firms, has rebranded as DCOH. DCOH has also secured two Defence contracts totalling more than $300 million for separate works projects at Robertson Barracks constructing 402 new rooms for Defence and undertaking a site-wide upgrade of base services, scheduled to start in June.

Managing director Shane Dignan and his former business partner John Halikos split the well-known Halikos Group business last year. The new arrangement will see Mr Dignan manage Halikos Developments and Construction, Solis real estate, the Novotel Hotel Esplanade, Northcrest, Halikos ICT, Halikos Roofing, while also operating H on Smith, Frontier Hotel, Dbar Restaurant and Punters Bar.

Mr Halikos will retain the H105 Hotel, Crab Claw Island Resort, Lizards Bar and NT Fasteners Berrimah-Coolalinga.

Tourism

Novotel Darwin CBD is NT’s first Sustainable Tourism Certified urban business

The Novotel Darwin CBD has achieved the prestigious Sustainable Tourism Certification from Ecotourism Australia and is the eighth Accor property to reach this status in Australia. Ecotourism Australia’s Sustainable Tourism Certification supports urban businesses and complements the ECO Tourism Certification which supports nature-based tourism businesses. Novotel Darwin CBD met several criteria sections, including environmental management, education, working with local communities, and cultural sensitivity. There are 24 ECO Certified Operators in the NT, including the Accor-managed Cooinda Lodge Kakadu which has been ECO Certified since 2005.

Resources

Bubalus gives the green light for maiden drilling at Nolans East

Bubalus Resources (BUS) has secured a Heritage Authority Certificate approving drilling to start at the Nolans East rare earths project, just 15 km from the third-party Nolans Bore project in the NT. BUS has secured a scheduled June/July drill program that will test eight of the 22 drill-ready targets at Nolans East from its extensive sampling program that returned 500 parts per million (ppm) total rare earth oxides (TREO) with a peak value of 2053 ppm TREO. The Heritage Authority Certificate enables the company to carry out aircore and reverse circulation drilling along with associated clearing work.

King River continues the NT copper-gold hunt

King River Resources announced the resumption of its mining activities for Tennant Creek East, Kurundi and Rover East in the NT.

The reverse-circulation (RC) drill program was delayed for several months due to flooding rains. Three priority prospects – Langrenus, Commitment and Providence. The four-month program will start at the company’s Langrenus prospect, with seven holes planned for 2000 metres, followed by the Commitment prospect with four holes for 850 metres, and then Providence’s four holes for 500 metres. The program has been designed to follow up on drilling at the Tennant Creek East project last year, where the company found low-grade gold mineralisation associated with several geophysical anomalies.

After the company’s drill program at the three prospects within Tennant Creek East is complete, it plans to drill about 2450m at the Kurundi project. It has also planned further drilling at Tennant Creek East with 400m at its Kuiper 1 target and 1200m at Kuiper 2, expected to be followed by 3400m worth of drilling at its three Rover East prospects.