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BNZ — Benz Mining defines maiden 10.1–12.0 Moz gold Exploration Target at Glenburgh, flagging world-class potential

Benz Mining has dropped a major number on the market — a maiden JORC Exploration Target of 10.1 to 12.0 million ounces of gold at its 100%-owned Glenburgh project in Western Australia, putting it firmly in world-class territory. The target spans 485 to 540 million tonnes at 0.6 to 0.7 g/t, with a higher-grade core of 110–125Mt at 1.7–1.8 g/t holding 6.1–7.3 Moz. Crucially, around 80% of the target is already drill-defined and wireframed — this isn’t purely conceptual, it’s backed by real holes in the ground, and the whole thing sits within a granted Mining Lease. Benz has a $75 million raise already completed and plans aggressive drilling over the next 12 months aiming to convert a substantial chunk into a Mineral Resource by CY27.

ALX — IFM’s Atlas Arteria bid automatically extended to 7 July after crossing 50% voting power

IFM Investors has crossed the 50% voting power threshold in Atlas Arteria, automatically triggering a 14-day extension of its takeover offer to 7 July 2026 — a significant milestone in one of the ASX’s most watched infrastructure deals. The crossing means IFM now effectively controls the company in a voting sense, and Atlas Arteria’s Independent Directors are moving to issue a Supplementary Target’s Statement before market open on Monday 29 June. For retail holders, the key question is whether to accept or hold on — the board says it’s still assessing and acting in the best interests of all securityholders. (This is the deal that, just days ago, was set to close with IFM at 48% — it’s moved fast.)

LFT — Li-FT Power secures exclusive option to acquire former Renard diamond mine for a potential lithium processing hub

Li-FT Power has secured an option to acquire the former Renard diamond mine in Québec for just one Canadian dollar — the catch being a C$12 million option fee and up to C$18 million per year in care and maintenance costs over a two-year window. The prize is a 2.2Mtpa processing plant sitting just 60km from Li-FT’s Adina Lithium Project; repurposing it for spodumene could slash capital expenditure dramatically given over C$900 million was previously sunk into Renard’s infrastructure. Court approval is expected 2 July, and if it comes together it fundamentally changes the economics of Adina — a clever, low-dilution way to fast-track a lithium development story.

Mid-Tier Movers

TEA — Tasmea agreed to buy JPS Group, a specialist LNG services firm with Tier-1 clients including Chevron, Shell and Woodside, for up to A$75 million — roughly A$50 million upfront in cash and scrip plus A$25 million in earn-outs. The deal is forecast to deliver around 5% pro forma EPS accretion in FY26 and plugs Tasmea into the structurally growing LNG and critical energy infrastructure market — a solid strategic fit at an upfront ~5x EV/EBIT multiple.

POL — Polymetals Resources hit serious silver-lead-zinc numbers underground at its Endeavor Mine in Cobar NSW — best intercepts of 45.2m at 436 g/t silver equivalent and 33m at 439 g/t. Crucially, a previously feared 1996 ground collapse zone now appears materially smaller than assumed, meaning significant high-grade material adjacent to existing infrastructure could be added to future mining inventory.

AMI — Aurelia Metals closed a A$150 million refinancing with Citi, Credeq and HSBC, replacing its old Trafigura facilities — the new package has no amortisation, no cash backing and no mandatory hedging. The big win is roughly A$46 million in previously restricted cash now freed up and available, a meaningful liquidity boost heading into the second half.

COI — Comet Ridge is raising $40 million via placement plus a $5 million SPP to buy out Santos’s remaining 42.86% stake in the Mahalo Gas Project, taking it to 100% ownership. The raise is priced at a steep 21.2% discount to last close, but the strategic logic is clear: full control of the asset, with free attaching options sweetening the deal for investors.

RTR — Rumble Resources upgraded its Western Queen Gold Resource by 17% to 433,600 ounces, with Indicated Resources surging 54% — the confidence metric that matters ahead of a Bankable Feasibility Study due next quarter. A newly discovered high-grade zone of 52,500 ounces at 11.3 g/t directly below old underground workings adds real upside and could extend mine life well beyond the two years flagged in last year’s Scoping Study.

NIC — Nickel Industries is investing US$169 million for a 17.5% stake in the TMI HPAL project in Indonesia, with a Construction Guarantee capping costs and guaranteeing nameplate production of ~38,640 nickel tonnes per annum in MHP by September 2027. The deal is strategically layered — Nickel Industries also becomes the exclusive ore supplier via its Sampala Project — and it comes amid an Indonesian government moratorium on new HPAL projects, making this access genuinely hard to replicate.

Rapid Fire

MCE — Matrix Composites locked in a A$34 million subsea buoyancy contract for an international energy project, with production kicking off at its Henderson WA facility in the December quarter — its second-largest win in 12 months and a solid revenue anchor for FY27.

AVE — Avecho’s Phase III CBD insomnia trial cleared its interim analysis, with the independent Data Monitoring Board unanimously recommending full enrolment to 519 participants and no serious adverse events recorded — a meaningful de-risking milestone for this pivotal study.

TVN — Tivan signed MoUs with Sumitomo and ETFS Capital for a $50 million stage-gated investment framework in its Molyhil Tungsten Project in the NT, retaining 82.5% at Final Investment Decision — defence and critical minerals demand for tungsten is a real tailwind.

KSN — Kingston Resources grew its Mineral Hill Southern Ore Zone resource by 50% to 6.54Mt, lifting the total site to 12.07Mt at 2.2 g/t gold equivalent, with 25,000 metres of follow-up drilling planned over the next year.

ASM — Australian Strategic Materials’ scheme meetings have been delayed again to allow supplementary disclosure on Energy Fuels’ $1.9 billion acquisition of German rare earths magnet maker Vacuumschmelze, plus a US$725 million US government financing commitment — the board still recommends the deal.

HIT — HiTech Group bid up to $15 million to acquire the UpperGround staffing business out of the administration of collapsed Hudson Global Resources, with creditor approval being voted on today — watch for an outcome shortly.

SIX — Sprintex signed a three-year exclusive Taiwan distribution deal worth up to US$1.15 million and landed an initial paid trial of its Jet Blowers at TSMC’s wastewater facilities — TSMC used over 101 billion litres of water in 2023, so the upside if the trial succeeds is significant.

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PTR — PTR Minerals delivers globally significant maiden resource of 463Mt at 8.8% heavy minerals at Rosewood Titanium Project

PTR Minerals has dropped a globally significant maiden resource of 463 million tonnes at 8.8% heavy minerals for its Rosewood Titanium Project in South Australia — that’s 40.6 million tonnes of contained heavy minerals, ranking it among the world’s premier heavy mineral sand projects. The standout is the high-grade Rosewood East sub-deposit at 294 million tonnes grading 9.7% heavy minerals, with 89% already classified as higher-confidence Indicated — a remarkable result for a maiden estimate. The mineralogy is exceptional: 93% valuable heavy minerals dominated by leucoxene, a premium titanium feedstock averaging 66.7% TiO2, with pit optimisation and mine scheduling studies now underway. For a maiden number, this is about as strong as they come.

ALX — IFM urges Atlas Arteria holders to accept unconditional $5.10 offer closing in under 3 days, as bidder hits 48%

Atlas Arteria securityholders have less than three days to decide. IFM Global Infrastructure Fund’s unconditional $5.10 cash takeover offer closes at 7pm Sydney time this Wednesday, 25 June, and the bidder says it will not extend unless it crosses 50% voting power. IFM has already accumulated over 48% of ALX securities and is warning the share price could fall materially from the pre-offer level of $4.33 if the deal lapses — real downside risk for holders who sit on their hands. The bidder is also taking aim at Atlas Arteria’s independent directors, accusing them of pursuing asset sales and debt-fuelled distribution increases that IFM argues are unsustainable. This one has genuine corporate drama attached.

ILU — Iluka secures first-ever rare earths offtake deal worth up to US$172M with global automotive giant

Iluka Resources has signed its first-ever rare earths offtake deal — a binding, take-or-pay agreement with an undisclosed global automotive giant worth between US$155 million and US$172 million over four years starting in 2028. The deal covers magnet rare earth oxides — neodymium, praseodymium, dysprosium and terbium — representing about 10% of planned production from Iluka’s Eneabba refinery, which is already over 50% complete and on track for commissioning in 2027. This is a landmark commercial validation for Iluka as it positions itself as a vertically integrated critical minerals supplier — its first named customer for the rare earths business.

Mid-Tier Movers

CYL — Catalyst Metals more than doubled the resource at its Trident underground gold deposit since acquisition — now sitting at 1.1 million ounces at an impressive 5.4 g/t, up from 524,000 ounces at 3.6 g/t when they bought it. Indicated Resources rose 20% to 633,000 ounces at 6.3 g/t, underpinning a ten-plus year mine plan at around 60,000 ounces per annum with first stoping ore targeted for H1 CY2027. Central to Catalyst’s plan to double annual production to ±200koz.

LYL — Lycopodium won a substantial A$196 million EPCM contract to design and build Resolute Mining’s Doropo Gold Project in Côte d’Ivoire — a 4.9Mtpa carbon-in-leach plant across a 13-year mine life. The win is material enough that Lycopodium will issue FY27 earnings guidance alongside its FY26 full-year results on 19 August — a clear signal this is a needle-mover.

CVN — Carnarvon Energy nearly doubled its gross unrisked prospective resources in the Bedout Sub-Basin to 6,256 mmboe — a 92% jump across 130 prospects following completion of its Mega-Merge seismic reprocessing. A drilling campaign kicks off from April 2027 using the Transocean Equinox rig, targeting four shortlisted prospects including Ara, Yuma, Hutton and Goats Eye, with Carnarvon’s net share now over 1,000 mmboe.

CRR — Critical Resources returned an exceptional 16.63% WO₃ channel sample at its Granite Creek tungsten target in New Zealand, with nine of 25 samples coming back high-grade across at least 600 metres of strike. The timing couldn’t be better — tungsten prices are near multi-year highs with China tightening exports — and the company is now applying for an exploration permit ahead of maiden drilling.

RWC — Reliance Worldwide is closing its brass manufacturing operations in Melbourne’s Moorabbin and Braeside, with a hefty US$100 to $110 million one-off charge hitting FY26, mostly non-cash goodwill and intangible impairments. The pain is short-term — the restructuring is expected to deliver a net annual EBITDA benefit of around US$9 million by end of FY27 as Americas cost savings outweigh reduced APAC earnings.

ALR — Altair Minerals completed a A$28.2 million placement to Endeavour Mining — the largest gold producer in West Africa and a top-10 global senior producer — which now holds a 9.9% strategic stake. The strengthened treasury of roughly A$38 million will fund a multi-year, multi-rig exploration program at the Greater Oko Project in Guyana, kicking off with the upcoming dry season.

Rapid Fire

ELT — Elementos’ Oropesa Tin Project in Spain has been granted ‘Overriding Public Interest’ status by the Andalucía Government — a critical permitting milestone that strengthens its path to water licences and other approvals.

MQR — Marquee Resources is acquiring a high-grade brownfield tungsten project in Nevada, historically mined at 1.16% WO₃, raising A$3.2 million to fund exploration as China’s export controls push tungsten prices to around US$3,000 per MTU.

CXL — Calix subsidiary Leilac signed a zero-capex Joint Development Agreement with Adani’s Ambuja Cements to deploy carbon capture at an Indian cement plant — potentially capturing over one million tonnes of CO₂ per annum, with Ambuja funding all post-decision costs.

VRX — VRX Silica received formal WA State Government backing for its land swap at Muchea, unlocking access to a 208 million tonne resource at an exceptionally pure 99.6% silica — clearing the path for environmental and mining approvals just 50km north of Perth.

14D — 1414 Degrees raised $8.45 million via placement with cornerstone investor Tribeca to advance its silicon anode battery technology with a Ukrainian drone maker and European space company, while also progressing a 500MW-plus Aurora data centre precinct.

INR — Ioneer signed letters of intent with Korean government body KIND and Hyundai Engineering for its Rhyolite Ridge Lithium-Boron Project in Nevada, targeting a Final Investment Decision in H2 2026 — adding Korean government backing to its existing Ford and Toyota partnerships.

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MP1 — Megaport raises A$827M to build AI inference cloud with A$459M in new GPU contracts

Megaport is raising a whopping A$827 million via a fully underwritten 1-for-3.08 non-renounceable entitlement offer — one of the largest ASX tech capital raises in recent memory. Four new AI infrastructure contracts worth A$459 million in total contract value have already been secured, and the company is establishing a A$350 million on-demand GPU Pool targeting enterprise and sovereign AI markets. Pro forma Group ARR jumps to A$662.9 million, with the compute division alone hitting A$385.2 million. This is one of the biggest strategic transformations we have seen from an ASX technology company in years — Megaport is no longer just a network company.

STN — Saturn Metals delivers record 26% resource upgrade at Apollo Hill, lifting gold inventory to 2.83 million ounces

Saturn Metals has delivered a record 26% resource upgrade at Apollo Hill in WA — the largest single increase in the project’s history — adding 590,000 ounces to push total gold inventory to 2.83 million ounces following a 367-hole drilling program. The higher-confidence Measured and Indicated category now stands at 2.19 million ounces, representing 77% of the total resource — a strong foundation for a Definitive Feasibility Study and updated Ore Reserve both targeted for late 2026. Mineralisation remains open in multiple directions, so the resource could keep growing.

ALD — ACCC approves Ampol’s acquisition of EG Australia with 41-site divestiture condition

Ampol has received ACCC approval to acquire EG Australia for approximately $1.115 billion in cash, combining its 622-site network with EG’s 512 retail fuel sites. The condition is a divestiture of 41 sites to Metro Petroleum — already approved as the buyer, so no further regulatory hurdles remain. Ampol elected to cash-settle the scrip component rather than issue new shares, preserving full earnings accretion for existing shareholders. Targeted synergies of $65 to $80 million are on track, with the deal expected to close 30 June 2026.

Mid-Tier Movers

DXN — DXN landed its maiden AI high-performance computing contract — an A$8.8 million deal with a US-listed neo-cloud operator to build a 1.36MW modular data centre, with manufacturing starting immediately at its Welshpool facility. The pilot is explicitly structured as a proof-of-concept with the customer flagging intent to scale to a campus programme worth potentially USD$200 million or more. Transformative potential for a small-cap.

49M — 49 Metals hit its best-ever intercept at Gold Mountain in Nevada’s Walker Lane — 9.1 metres at 21.9 g/t gold within a broader 27.4 metre hit at 8.3 g/t. The company interprets this as a structurally controlled feeder structure that could significantly expand the scale of the epithermal gold system, with four more holes still awaiting assay.

ACF — Acrow’s Industrial Access division smashed through $200 million in revenue for FY26, up roughly 50% on the prior year, driven by organic growth and two acquisitions performing ahead of expectations. The division has already locked in circa $180 million of FY27 revenue including a renewed Glencore contract — strong earnings visibility heading into the new financial year.

EQR — EQ Resources received board approval for a A$39 million expansion at its Mt Carbine tungsten mine in Queensland that will double crushing capacity to 2 million tonnes per annum by Q3 FY2027. The project adds an initial 500 tungsten trioxide tonnes per annum and is fully internally funded — no dilution required.

MX1 — Micro-X captured the world’s first Carbon Nanotube Cone Beam CT human brain images at Royal Melbourne Hospital — a genuine world-first in its miniature head CT scanner for stroke diagnosis. A blind multi-centre pilot study across 108 patients at four sites is now underway, and a $0.4 million MRFF milestone payment has been triggered.

TVN — Tivan secured a guaranteed minimum $15 million through a $10 million option underwriting backstopped by Regal Partners and a $5 million placement to the Tuckwell family office ETFS Capital at $0.30 per share — funding accelerated development across its Australian and Timor-Leste projects with no equity discount on the placement.

Rapid Fire

* SMX — Strata Minerals completed Phase 2 drilling at Zelica Gold in WA with a 94% hit rate across 17 holes — best intercept 12 metres at 2.08 g/t gold — with a maiden JORC resource and development partner already secured and less than 15% of the 9.5 kilometre corridor tested.

* GML — Gateway Mining returned 10 metres at 2.2 g/t gold including 2 metres at 9.2 g/t at the new Celia South prospect, extending its Yandal system 20 kilometres south. RC drilling kicks off 15 June.

* VYS — Vysarn is acquiring WA irrigation and water infrastructure business NewGround for up to $25 million cash and 33 million shares, expected to be 25% earnings per share accretive on a pro forma basis.

* PMT — PMET Resources extended its Mickel LCT Pegmatite Trend from 5.5 to 10.5 kilometres in Quebec with new caesium, lithium and tantalum discoveries — standout surface grades include 16.43% caesium oxide.

* PGO — Pacgold is demerging its North Queensland gold assets into Emerald Resources-backed Manda Resources, which will assemble a 1.33 million ounce resource ahead of a minimum $21 million ASX IPO later in 2026.

* CYP — Cynata received a positive EMA paediatric committee opinion for CYP-001 in acute graft versus host disease — a mandatory EU hurdle cleared, opening the path to Phase 3 trials in a market twice the size of the US.

* MAP — Microba Life Sciences halted trading ahead of a material capital raise and break-even update. Watch for the announcement before Friday’s open.

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THL — thl receives revised NZ$3.10 per share cash takeover bid from BGH Capital-led consortium

Tourism Holdings has received a revised non-binding indicative offer of NZ$3.10 per share in cash from a consortium of BGH Capital and the Trouchet family, who already own approximately 19.9% of thl. This is a bumped offer, signalling the acquirer is serious. The deal is conditional on due diligence, debt finalisation, BGH internal approval, and a unanimous board recommendation, with shareholders holding around 16% already expressing support for granting due diligence access. The Board is still assessing whether to engage — the revised NBIO expires 12 June if thl hasn’t responded.

STG — Straker delays FY2026 results and faces trading suspension after US fraud discovery

The Straker situation has escalated significantly. The company has confirmed a significant fraud involving a US-based employee and funds in its US subsidiary, Straker Translations Inc — and is now unable to release its audited FY2026 results by the 29 May deadline. Auditor BDO needs more time to assess the fraud’s impact before signing off, meaning Straker faces compulsory ASX trading suspension from 1 June 2026. The investor briefing scheduled for today has been cancelled. No dollar figure on the fraud has been disclosed yet — that number, when it comes, will be critical for anyone still holding this stock.

AQD — AusQuest’s Cangallo copper-gold project delivers more large RC drill hits as major 5,000m diamond drilling program kicks off

AusQuest wrapped up Stage 3 RC drilling at its Cangallo porphyry copper-gold project in Peru with standout results — 342 metres at 0.27% copper and 236 metres at 0.30% copper, with three of four holes ending in mineralisation confirming the system extends well beyond 400 metres depth. The company is now launching a plus-5,000 metre diamond drilling program targeting depths of up to 800 metres, chasing a potential high-grade hypogene copper core below current drilling. Porphyry copper systems of this scale attract major mining company attention — watch as the diamond program progresses.

Mid-Tier Movers

TBN — Tamboran Resources finalised its acquisition of Falcon Oil & Gas, becoming the dominant acreage holder in the Beetaloo Basin with approximately 2.8 million net prospective acres. The 2026 operating program is the most active yet — at least four wells to be drilled, five to be stimulated — and first gas sales from the Pilot Project remain on track for Q3 2026.

AOF — Australian Unity Office Fund sold its final asset, 150 Charlotte Street Brisbane for $40 million, completing the full portfolio disposal. Units are suspended from 3 June and the fund delists 9 June 2026. Unitholders can expect aggregate returns of 37 to 38 cents per unit, with an initial compulsory redemption of 19-in-20 units expected before 30 June.

SLC — Superloop finalised its $165 million acquisition of Lightning Broadband, adding over 56,000 secured lots across six states and roughly 16,000 active services to its FTTP network. Post-acquisition net debt sits at a comfortable 1.4 times EBITDA and the ACCC has already cleared the deal — Superloop is quietly building serious national fibre scale.

GG8 — Gorilla Gold delivered more high-grade hits at the Sovereign Deposit in WA’s Comet Vale — 3.8 metres at 21 g/t and 2.1 metres at 24.8 g/t gold. The deposit hosts 410,000 ounces at 4.3 g/t with strike potentially extending beyond 2.5 kilometres, and five rigs are now turning at the North Kalgoorlie Hub.

JDO — Judo Bank priced a $750 million SME loan securitisation — upsized from $500 million on strong demand — qualifying for regulatory capital relief and lifting pro forma CET1 from 12.6% to 13.2%. The deal is expected to deliver a 25 to 30 basis point uplift to FY27 return on equity, settling 4 June.

AII — Almonty Industries is set to join both the Russell 1000 and Russell 3000 indices from 29 June 2026 following the annual reconstitution. With approximately $12.2 trillion benchmarked against Russell indexes, inclusion typically drives meaningful passive fund buying — a significant milestone for this Western world tungsten producer.

Rapid Fire

* CTT — Cettire is opening a flagship store on Alibaba’s TMall Global luxury platform targeting mainland China, adding to existing JD.com and cettire.cn channels — expected live in Q1 FY27 with no local inventory required. The company is also in a trading halt ahead of a separate material partnership announcement due before Tuesday’s open.

* CCL — Cuscal completed its acquisition of New Zealand payments provider Paymark from Worldline, expecting mid-single digit EPS accretion and mid-teens return on invested capital in FY27.

* MAU — Magnetic Resources set 3 June as the shareholder vote date for the Genesis Minerals acquisition scheme, with the Supreme Court of WA hearing set for 9 June — the deal is in its final stretch.

* ELS — Elsight landed a US$2 million repeat order from a US public safety drone customer — more than four times the initial January purchase — validating its Halo platform in the fast-growing BVLOS market.

* DXS — Dexus halted trading pending a Supreme Court of NSW judgment this morning — the nature of the proceedings hasn’t been disclosed but the outcome could be market-moving for this major property group.

* EGR — EcoGraf confirmed its HFfree graphite purification process is cost-competitive across seven global locations, with a US facility modelling a pre-tax NPV of US$282 million at a 42% IRR on US$95 million capital.

* AGY — Argosy Minerals hit 99% lithium chloride purity and 94.4% lithium recovery at its Rincon pilot plant in Argentina, de-risking the path to its 12,000 tonne per annum DFS.

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MEU — Marmota hits spectacular high-grade gold assays up to 41 g/t at Greenewood discovery in South Australia

Marmota’s Greenewood discovery in South Australia’s Gawler Craton is throwing up extraordinary numbers. Stage 2 detailed assays include hits of 41 g/t and 40 g/t gold, with the combined maiden program now delivering 6 intersections above 40 g/t, 18 above 20 g/t, and 119 above 5 g/t. Geologists are already drawing comparisons to the Challenger gold mine discovery in 1995, which went on to produce over a million ounces. Mineralisation is confirmed open along strike and at depth, and a Stage 3 drilling program targeting major extensions is already underway — newsflow from MEU should continue to build over coming weeks.

GLN — Galan Lithium completes commissioning at HMW, first processed lithium brine delivered to final evaporation ponds

Galan Lithium has hit a major operational milestone — wet plant commissioning at its Hombre Muerto West project in Argentina is complete, with processed lithium chloride now flowing into final evaporation ponds. Around 10,000 tonnes LCE of brine inventory is already stockpiled to support the production ramp-up, and lithium chloride concentrate ready for sale is expected in the second half of 2026. Phase 1 capacity is also being expanded from 4,000 to 5,200 tonnes LCE per annum, with the uplift targeted for H1 2027. For GLN shareholders, this is the producer transition they have been waiting for.

FEG — Far East Gold receives unsolicited A$0.13 per share cash takeover bid from Hong Kong-based Xingye Gold

Far East Gold has received an unsolicited off-market takeover bid from Xingye Gold at 13 cents per share — with zero prior discussions or engagement between the two parties. The FEG board is reviewing the offer with legal and financial advisers and has told shareholders to sit tight until a formal Target’s Statement and recommendation are released. Unsolicited bids like this often signal the acquirer sees significant value the market hasn’t fully priced in — watch this space for a potential counter-offer or revised bid.

Mid-Tier Movers

IVZ — Invictus Energy executed a full Petroleum Production Sharing Agreement with the Republic of Zimbabwe for its Cabora Bassa Project, replacing the previous framework from 2021. The agreement includes National Project Status, Special Economic Zone status, investment protections, and formalises participation of Zimbabwe’s Mutapa Investment Fund. With the legal and fiscal framework locked in, Invictus is advancing toward its high-impact Musuma-1 exploration well targeted to spud in H2 2026 — a genuine catalyst to watch.

VUL — Vulcan Energy reached Financial Close on a massive €2.2 billion — roughly $3.9 billion Australian — financing package for its Lionheart lithium project in Germany’s Upper Rhine Valley. The project targets 24,000 tonnes per annum of lithium hydroxide alongside renewable energy co-products over a 30-year mine life — a landmark moment for Australian-listed green lithium.

TOK — Tolu Minerals found two brand new high-grade gold vein systems near existing Tolukuma mine infrastructure in PNG — the Fundoot Splay returned 4.67 metres at 42.76 g/t gold. Underground mining has also restarted on the 1560 Level with face sampling exceeding 31 g/t, and these results are the opening act of a planned 75,000-metre near-mine drilling campaign.

CCM — Cadoux’s premiumHPA high purity alumina passed a rigorous 24-month, 7-step qualification process within the EU-funded SAFELOOP EV battery development project — validating it meets exacting purity and thermal stability standards for battery separator coatings. This positions Cadoux as a credible commercial HPA supplier and creates a direct pathway to binding offtake agreements.

TGH — Terragen Holdings landed its first large-scale commercial supply deal — 360,000 probiotic doses for Ravensworth Feedlot — plus a $2.8 million industry-funded trial across 10,000 head of cattle at Australia’s largest single-site beef feedlot. If KPIs are met, management says these agreements could drive up to a 50% increase in total sales relative to FY2026 levels.

GHM — Golden Horse Minerals extended its Hopes Hill gold system to over 3 kilometres of strike after drilling confirmed mineralisation more than 1,000 metres north of a previous hole, with a standout result of 12 metres at 7.0 g/t gold from 278 metres depth. Four rigs are now turning on site with further results pending across all three zones.

Rapid Fire

* CRR — Critical Resources hit sulphide-class solid-state electrolyte performance — 3.2 mS per centimetre ionic conductivity — without using toxic sulphur, a potentially scalable breakthrough for defence and data centre battery applications, independently verified at South Dakota School of Mines.

* DVP — Develop Global is targeting a Final Investment Decision next month for an 850,000-tonne DSO lithium operation at Pioneer Dome, with infill drilling exceeding the resource model and first sales potentially in the December 2026 quarter.

* ACW — Actinogen received positive EMA scientific advice for its Xanamem Alzheimer’s drug, mirroring prior FDA guidance and giving the company a clear regulatory roadmap in both major global markets — topline Phase 2b/3 results expected November 2026.

* GRX — GreenX Metals unveiled a massive exploration target at its German Tannenberg copper project — up to 3.9 million tonnes of copper and 188 million ounces of silver — with active drilling and seismic surveys now being planned.

* PLY — PlaySide Studios is in a trading halt pending a material update on a major external contract. Direction of the news is unknown — watch for the release before Monday’s open.

* CIA — Champion Iron is also in a trading halt pending a further announcement. Given CIA’s scale as an iron ore producer, this one is worth keeping on the radar.

* UOS — United Overseas Australia announced the passing of co-founder and Chairman-MD Chong Soon Kong — Pak Lim Kong has been appointed interim leader and the company says operations remain stable.

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AA2 — Ariana Resources delivers blockbuster Dokwe PFS with post-tax NPV of US$740M and 92% IRR at US$4,250/oz gold

Ariana Resources has delivered one of the most compelling junior gold project economics you will see on the ASX. The Pre-Feasibility Study for its 100%-owned Dokwe Gold Project in Zimbabwe returns a post-tax NPV of US$740 million — over A$1 billion — and a staggering 92% IRR at US$4,250 per ounce gold, with an approximate one-year payback from commissioning. The Ore Reserve has jumped 42% to 1.13 million ounces, supporting a 20-year mine life producing over one million ounces at a peak rate of 100,000 ounces per annum — all from a low pre-production capex of just US$164 million. The company is debt-free with A$53 million in cash and is targeting a Definitive Feasibility Study in Q1 2027.

IG6 — IG6 signs binding JV with Italy’s Alkeemia to build a 10,000–15,000 t/y graphite processing hub in Porto Marghera, Europe

International Graphite has signed a binding Joint Venture with Italian HF producer Alkeemia to build a 10,000 to 15,000 tonne per year graphite processing facility at Porto Marghera, Italy — a direct foothold in the European critical minerals supply chain. IG6 holds a 49% stake with a 50/50 profit share, while Alkeemia contributes the land, permits, infrastructure and operational workforce. Construction is targeted to begin Q3 2026 with first production expected in the second half of 2027. This is a significant strategic move for a small ASX explorer, plugging directly into European battery supply chain demand at a time when the EU is actively reducing dependence on Chinese graphite.

STG — Straker confirms fraud at US subsidiary, investigation ongoing with law enforcement

Straker Limited has confirmed that fraudulent transactions occurred involving bank accounts of its US subsidiary, Straker Translations Inc, and is cooperating with US law enforcement. This is the update the market was waiting for after last week’s trading halt — and critically, no financial impact or dollar amount has been disclosed. That lack of transparency will be deeply unsettling for shareholders who have no way to assess the materiality of the loss. Management says business operations are continuing as normal, but investors should watch closely for a follow-up announcement quantifying the damage. This kind of news can have a long tail.

Mid-Tier Movers

RCE — Recce Pharmaceuticals signed a term sheet for a 10-year exclusive licensing deal for its R327 Topical Gel across MENA markets including Saudi Arabia, GCC countries, Egypt, Algeria and Morocco, with milestone payments worth up to USD $3.5 million plus a 30% share of net selling price and a 6% royalty on net sales above USD $50 million per year. The definitive agreement is targeted for next quarter — while non-binding for now, this is meaningful commercial validation in a high-burden diabetic foot infection market of 84 million diabetes patients.

SVM — Sovereign Metals confirmed the presence of high-value heavy rare earth minerals including Dysprosium, Terbium and Yttrium across four pits in the Kasiya DFS mine plan, with independent pricing suggesting a potential premium of up to US$16,000 to US$19,000 per tonne versus the current benchmark of around US$6,142 per tonne. Critically, the monazite may be recoverable from existing DFS tailings with no additional mining required — a potential third revenue stream alongside rutile and graphite that could be a material re-rating catalyst for what is already a US$2.2 billion pre-tax NPV project.

MNB — Minbos Resources completed the final security agreement for its US$16 million IDC loan facility and submitted its first drawdown request for US$4.8 million to fund Phase 1 civil works and mobilise the Phase 2 construction contract for its Cabinda Phosphate Fertilizer Project in Angola. Combined with a previously announced BFA loan of US$5.48 million, remaining construction costs are now fully funded — this project is moving from development to reality.

IVZ — Invictus Energy entered a trading halt pending a major update to its Petroleum Production Sharing Agreement with the Government of Zimbabwe, relating to its Cabora Bassa Basin assets which host the Mukuyu gas discovery. A PPSA update of this nature could be transformational — investors in IVZ should watch for the announcement before trading resumes on Friday 29 May.

LU7 — Lithium Universe acquired an exclusive global licence for the University of Edinburgh’s patented Gold Copper Diamide Extraction process, which selectively recovers gold and copper from e-waste without high-temperature smelting. Gold content in e-waste can be up to 100 times richer than natural ore, with one tonne worth approximately US$46,320 at current prices. The acquisition complements LU7’s existing silver extraction technology from solar panel recycling, positioning the company as a broader critical and precious metals recycler.

KNO — Knosys renewed its enterprise knowledge management contract with ANZ Bank for two years at a total value of $3.8 million — with the full amount paid upfront, providing a significant cash boost for a small-cap software company. The deal also involves integrating a new AI assistant into ANZ’s knowledge management portal, keeping Knosys relevant in the rapidly evolving enterprise AI space.

Rapid Fire

* PRX — Prodigy Gold’s Hyperion Scoping Study delivers a pre-tax NPV of A$107 million and a 63% IRR with just A$24 million upfront capex — a compelling result for a small Tanami North gold project targeting 260,000 ounces over four years.

* KNI — Kuniko wrapped up Phase 1 drilling at Commonwealth-Silica Hill in NSW with spectacular results including 0.5 metres at 346.7 g/t gold equivalent — Phase 2 drilling kicks off in early July targeting step-out extensions and deeper high-grade zones.

* BAS — Bass Oil secured a $3.5 million South Australian government grant to develop its Kiwi liquids-rich gas field, with 25% of funds advanced immediately — cornerstone funding for a field that previously flowed 4.1 million cubic feet of gas per day.

* A3D — Aurora Labs upgraded its relationship with missile maker MBDA — €44 billion order backlog — from an MOU to a formal three-year Teaming Agreement for 3D-printed turbojet engine technology targeting European and Australian defence markets.

* EMV — EMVision’s portable brain scanner passed a real-world aeromedical test with the Royal Flying Doctor Service across 13 patient transfers up to 371 kilometres from Adelaide, with the company also receiving its final $400,000 milestone payment from the Australian Stroke Alliance.

* BDM — Burgundy Diamond’s Arctic Canadian subsidiary had its court-approved insolvency stay extended to July 28 with DIP financing approved — a formal sales process for the Ekati diamond mine is now underway.

* E25 — Element 25 locked in long-term mining and haulage contracts with ReGroup for its Butcherbird Manganese Expansion Project, targeting 1.1 million tonnes per annum with commissioning on track for Q1 2027.

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BTR — Brightstar Resources approves Final Investment Decision for Goldfields Project, commencing construction of 1.5Mtpa Laverton gold plant targeting first gold in Q2 2027

Brightstar Resources has made its Final Investment Decision for the Goldfields Project in Western Australia, executing a $110 million EPC contract with GR Engineering Services to build a 1.5 million tonne per annum processing plant at Laverton. The project is fully funded via a A$193 million equity raising and US$120 million bond financing, with first gold production targeted for the June quarter 2027. At a pre-tax NPV of A$606 million, a 74% IRR, and approximately A$1.0 billion in forecast free cash flow over a six-year mine life producing around 75,000 ounces per year, this is a well-structured project moving from decision to dirt.

ALX — Atlas Arteria board unanimously recommends shareholders REJECT IFM’s unsolicited takeover bid

Atlas Arteria’s Independent Directors have lodged a formal Target’s Statement with ASIC, unanimously recommending securityholders reject IFM’s off-market takeover bid from Diamond Infraco 1 Pty Ltd. The board is telling shareholders to simply ignore all documents from IFM — effectively the strongest possible language in a target’s statement. Meanwhile IFM has confirmed the bid has cleared EU and US HSR regulatory hurdles, keeping the offer alive despite board opposition. This is shaping up as a classic hostile takeover battle, and with IFM already holding 34.48% of the register, the outcome will turn on whether remaining institutional holders side with the board or take the cash.

STK — Strickland Metals boosts Gradina gold resource 50% to 1.8Moz, lifting total Rogozna project to 9.24Moz AuEq

Strickland Metals has delivered a 50% resource increase at its Gradina Deposit in Serbia, lifting it to 1.8 million ounces of gold at 2.8 g/t. That pushes the total Rogozna Project to 9.24 million ounces of gold equivalent across four deposits — firmly Tier-1 territory. The deposit remains open in all directions with the company holding around $81 million in cash, and further drilling and resource growth look very likely ahead.

Mid-Tier Movers

GGP — Greatland Resources received both State and Commonwealth environmental approvals for its Havieron gold-copper project in Western Australia, clearing the final regulatory hurdle before a Final Investment Decision targeted this June quarter. Once in steady state, Havieron is expected to produce around 270,000 ounces of gold per year at lowest-quartile costs over a 17-year mine life — a genuinely significant project for the WA goldfields.

AGR — Aguia Resources received its commercialisation licence from Brazil’s Ministry of Agriculture, allowing its Pampafos phosphate project to begin invoicing and selling product immediately. Plant commissioning kicked off on 22 May at 24 tonnes per hour with first truck deliveries expected by 1 June, and Pampafos is priced around 30% cheaper than imported MAP on a nutrient-adjusted basis — a meaningful competitive advantage at a time when Strait of Hormuz disruptions have elevated imported phosphate prices.

BML — Boab Metals executed a $109 million EPC contract with GR Engineering for the Sorby Hills Silver-Lead Project in WA, with the scope involving relocating and refurbishing the DeGrussa processing facility. Commercial concentrate production remains on schedule for H2 2027 — and GR Engineering has now landed two major EPC contracts in a single day worth a combined $219 million.

NSB — NeuroScientific Biopharmaceuticals reported an 80% clinical response rate — four out of five patients — treated with its StemSmart stem cell therapy for fistulising Crohn’s disease under the TGA Special Access Scheme, with no serious adverse events. A pivotal Phase 2 trial in Australia is being developed to commence in the second half of 2026, targeting a ~US$13 billion global market.

VMM — Viridis Mining produced its first batch of Mixed Rare Earth Carbonate from its Colossus Demonstration Plant in Brazil — one of the largest semi-industrial ionic clay rare earth facilities outside China. The milestone opens the door to supplying product samples to offtake partners and validating DFS parameters, with commercial-scale production targeted for 2028.

PHO — PhosCo cracked a significant metallurgical challenge at its Gasaat Phosphate Project in Tunisia, demonstrating a simple single-stage flotation circuit can produce commercial-grade concentrate up to 31.4% P2O5 — eliminating three previously required processing steps and materially cutting both capital and operating costs ahead of an updated Scoping Study due in Q3 2026.

Rapid Fire

* HIO — Hawsons Iron’s PFS update delivers a 37% NPV boost to AU$1.87 billion after replacing truck haulage with a conveyor system, saving $7.42 per tonne in operating costs and improving the IRR from 10.9% to 11.9%.

* OSX — Osteopore won Hainan FDA approval to sell its 3D-printed bioresorbable orthopaedic implants at one of China’s top-ranked hospitals, with the first surgery scheduled for June 2026 — a fast-track entry point into a USD 2.5 billion Chinese orthopaedic market.

* MGT — Magnetite Mines replaced its MD and launched a strategic reset, shifting toward phased development and critical minerals amid funding challenges and a slower-than-expected green steel transition.

* SKN — Skin Elements filed a Takeovers Panel application alleging undisclosed associates hold over 20% of shares, seeking to adjourn an EGM scheduled for 2 June that could remove directors.

* LEL — Lithium Energy is selling its Queensland graphite assets to M Battery Materials for $20 million, with plans to distribute the resulting MBM shares to its own shareholders once MBM lists on the ASX.

* 5EA — 5E Advanced Materials delists from the ASX today, with CDIs suspended from close of trade — investors need to convert to Nasdaq-listed stock under ticker FEAM to retain exposure.

* AGC — Australian Gold and Copper is in a trading halt pending announcement of a material acquisition and capital raise, with details expected before Thursday morning.

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ARU — Arafura Rare Earths secures $350 million institutional placement to fund Nolans construction

Arafura Rare Earths has closed its two-tranche A$350 million institutional placement at $0.26 per share, with Hancock Prospecting anchoring the raise with an A$85 million commitment to take a roughly 17.5% post-placement stake. Combined with existing cornerstone investor commitments from EFA, GRMF and NRFC, pro forma cash hits approximately A$1.341 billion upon settlement — fully funding the equity component of the Nolans Project with construction targeting commencement around September 2026. A A$25 million Share Purchase Plan is also open for eligible retail shareholders at the same price. Tranche One settles 28 May, with Tranche Two subject to shareholder approval at an EGM on 2 July. Australia’s first integrated ore-to-oxide rare earths project is now fully funded and construction-ready.

HAR — Haranga Resources delivers maiden JORC gold resource of 402koz at 5.1g/t at Lincoln Gold Project in California

Haranga Resources has delivered a maiden JORC-compliant resource of 402,000 ounces of gold at an exceptional 5.1 g/t across two California deposits — Lincoln-Comet at 275,000 ounces at 5.7 g/t and Medean at 127,000 ounces at 4.1 g/t. This represents a 40.6% increase on the previous non-compliant historical estimate, and the project already has approximately $90 million in prior capital invested including an 880-metre underground decline, a 315,000 tonne per annum processing plant and key mining permits already in place. Management is now scoping a Rapid Restart pathway and targeting multi-million ounce scale through further drilling, with a South Spring Hill exploration target of 202,000 to 308,000 ounces identified for H2 2026 conversion. At 5.1 g/t, this is one of the highest-grade gold developers on the entire ASX.

ALC — Alcidion secures 7-year, $35M UK NHS contract for its Miya Precision EPR platform

Alcidion has signed a seven-year, $35 million contract with University Hospitals Sussex NHS Foundation Trust to deploy its Miya Precision Electronic Patient Record platform — extendable to $49 million over ten years. The company expects to book $8.5 million in revenue from this contract in FY26 alone, with implementation beginning immediately and phase one go-live targeted for June 2027. This is Alcidion’s third EPR platform contract in the UK and includes the first deployment of its virtual care module to a UK customer. Serving approximately one million people across seven hospitals with nearly 20,000 staff, UHSussex is a major reference customer in a large and sticky market.

Mid-Tier Movers

X2M — X2M Connect secured South Korea’s first AI-enabled integrated smart water meter manufacturing licence, targeting a replacement market of approximately one million units per year with a total addressable market of $1.3 billion in hardware. Two years of private contract access means water authorities can procure directly without a tender, and every unit connects to X2M’s SaaS platform generating up to $52 million in potential annual recurring revenue.

BPT — Beach Energy agreed to sell its 60% operated interest in the Artisan gas discovery for $70 million upfront plus a production royalty worth approximately $140 million over the life of the field. The deal cancels the La Bella 2 development well and unlocks over $500 million in near-term capital for redeployment — a significant strategic pivot toward higher-return opportunities.

NGS — Nutritional Growth Solutions is acquiring Sprout Organic, the maker of the world’s first FSANZ-approved 100% organic plant-based infant formula, for approximately A$8 million in scrip. The deal creates a paediatric nutrition platform spanning birth through to adolescence, with Sprout products already in 1,000-plus retail outlets including Chemist Warehouse and Woolworths Online, and a $2.5 million placement secured to fund integration.

GBR — Great Boulder Resources hit up to 165 g/t gold in drilling outside its existing one-million-ounce resource at Side Well in WA, confirming a 2.5 kilometre continuous mineralised system linking the Mulga Bill and Eaglehawk deposits. The continuity raises the prospect of a single large open pit — a clear pathway to resource growth well beyond the current base.

AUE — Aurum Resources received all three environmental approvals required under Ivorian law for its 3.22 million ounce Boundiali Gold Project — clearing the final mandatory legal hurdle before a formal mining licence can be granted. With a Pre-Feasibility Study due this quarter and $61 million cash in the bank, Aurum is moving quickly through the development pipeline.

WCN — White Cliff Minerals confirmed copper mineralisation across a new 1.5 kilometre strike at its Rae Copper Project in Canada, over 5 kilometres from the original discovery, with intercepts including 15.24 metres at 1.51% copper. The total mineralised footprint now exceeds 5.4 kilometres, with around 10,000 metres of additional drilling planned through to end of July.

Rapid Fire

* AWJ — Auric Mining boosted its Munda Gold Resource by 32% to 192,000 ounces despite mining depletion, after the Starter Pit delivered gold production 46% above budget — a scoping study for combined open pit and processing plant development is now underway.

* HMX — Hammer Metals kicked off its Kalman resource upgrade drilling in NW Queensland with a strong opening hole of 124 metres at 2.2% copper equivalent, with molybdenum and rhenium prices near all-time highs enhancing project economics.

* LGP — Little Green Pharma’s acquisition of Cannatrek has been approved by the Federal Court and is legally effective, with scheme consideration due to be issued on 1 June — creating a larger combined medicinal cannabis operator.

* KNB — Koonenberry Gold identified a third high-grade fault structure at its Enmore Project in NSW with rock chips returning up to 87 g/t gold over 700 metres of strike — drill approvals are being fast-tracked.

* IXR — Ionic Rare Earths signed binding supply deals with US defence magnet maker Advanced Magnet Lab, which holds a US Defense Logistics Agency contract — a tangible step toward building a sovereign ex-China rare earth supply chain for Western defence markets.

* FUL — Fulcrum Lithium drilled its thickest ever intersection of 147.9 metres at 507 parts per million lithium at Alkali Flats in Nevada, with the deposit now spanning over 32 square kilometres ahead of a maiden resource estimate.

* NIC — Nickel Industries upgraded its Sampala Project resource to 1,095 million wet metric tonnes at 1.24% nickel — a more than 350% increase since September 2024 — making it one of the largest nickel laterite resources in the world.

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ARU — Arafura launches A$350M placement and A$25M SPP at A$0.26/share to fully fund Nolans Rare Earths Project

The day after making its Final Investment Decision, Arafura Rare Earths has launched a two-tranche A$350 million institutional placement at A$0.26 per share to fully fund the equity component of the Nolans Project. Hancock Prospecting is anchoring the raise with an A$85 million commitment, taking a roughly 17.5% post-placement stake — serious institutional conviction from one of Australia’s most credible mining investors. Combined with prior equity raises and binding commitments from sovereign-backed institutions across four nations, pro forma cash hits approximately A$911 million upon settlement. A A$25 million SPP is also open for eligible retail shareholders. With 93% of binding offtake targets secured and construction starting September 2026, Australia’s first integrated ore-to-oxide rare earths project is now fully funded.

GYG — GYG exits US market immediately, takes US$30-40M hit but upgrades Australia EBITDA guidance to $85M

Guzman y Gomez is pulling the plug on all US operations in Chicago with immediate effect — the company says sales momentum was insufficient and financial performance missed every hurdle. The exit will cost GYG a one-off P&L charge of US$30 to $40 million in FY26, though cash exit costs are capped at US$15 million — painful but contained. The more important number for investors is the silver lining: Australian segment underlying EBITDA guidance upgraded to approximately $85 million for FY26, representing 29% growth on the prior year. The domestic business is clearly firing and the strategic focus is now squarely back on Australia and its profitable international master franchise markets in Singapore and Japan.

STG — Straker Limited halted pending investigation into US bank account transaction anomalies

Straker Limited has called an immediate trading halt while it investigates transaction anomalies discovered in its US bank accounts. No further details have been disclosed, but a halt triggered by potential financial irregularities — rather than a routine capital raise or corporate transaction — is a serious red flag for investors. The halt remains in place until at least Tuesday 26 May. This is one to watch very carefully over the long weekend.

Mid-Tier Movers

IMU — Imugene’s off-the-shelf CAR T therapy azer-cel delivered an 81% overall response rate across 16 evaluable patients with relapsed or refractory blood cancers — with 100% response rates in four subtypes including CLL and follicular lymphoma. The data has been accepted as an ASCO 2026 abstract with an oral presentation on 29 May in Chicago, a major stage for biotech visibility, and a new combination cohort pairing azer-cel with a BTK inhibitor has been opened targeting a global market worth approximately US$12 billion.

MPK — Many Peaks Minerals raised A$27.5 million at $0.90 per share — only a 3.2% discount to last close — to advance its Ferké Gold Project in Côte d’Ivoire, funding a pre-feasibility study targeted for Q4 2026 and more than 35,000 metres of drilling to grow the existing 1.32 million ounce gold resource. Post-raise cash exceeds A$33 million against a market cap of roughly A$151 million — well capitalised to execute.

DTI — The Morris Family Trust’s takeover of DTI Group is closing fast. The offer shuts on 29 May with no extension, the bidder already controls between 75% and 90% of shares, and if the 90% compulsory acquisition threshold is crossed the company will be delisted from the ASX entirely. Regardless of the final tally, the entire DTI board is being replaced — remaining shareholders need to act before next Friday.

TUA — Tuas Limited has walked away from its acquisition of Singapore telco M1 Limited after conditions precedent failed to be met by the extended Long-Stop Date of 21 May — a deal first announced back in August 2025 has now officially lapsed. Complicating matters further, Simba Telecom is cooperating with a regulatory investigation by Singapore’s IMDA into potential breaches of telecommunications law.

GRL — Godolphin Resources is spinning out its Narraburra Rare Earths Project into a new separately listed entity called Matrix Critical Minerals, with MST Financial appointed as lead manager for an ASX IPO targeted in the second half of 2026. The project hosts a 94.9 million tonne JORC resource rich in heavy rare earths dysprosium, terbium and yttrium — commodities that surged in strategic value following China’s 2025 export controls. Existing GRL shareholders are in line for an in-specie distribution plus a priority IPO allocation.

VFY — Vitrafy Life Sciences hit a significant IPO milestone with its platelet cryopreservation technology exceeding all FDA and European regulatory standards in a US Army validation study — a 94.4% post-thaw platelet recovery rate using a 3% DMSO no-wash protocol. This activates the pathway to FDA medical device registration for its GUARDION platform, targeted for the first half of FY27.

Rapid Fire

* MYX — Mayne Pharma was awarded over $13.27 million in legal costs after successfully defending proceedings brought by Cosette Pharmaceuticals over a terminated scheme — a clean win with a meaningful cash recovery, with interest still to be determined.

* MND — Monadelphous secured approximately $120 million in new contracts spanning two Rio Tinto Pilbara appointments, a battery storage project at Fortescue’s Cloudbreak mine, and a maintenance panel at Port Waratah Coal Services in Newcastle.

* ORN — Orion Minerals raised $15.4 million via placement at 2.2 cents per share to fast-track its South African copper assets, including early works at the Prieska Copper Zinc Mine, while finalising a US$250 million Glencore financing facility.

* AS1 — Asara Resources delivered standout gold hits at its Kada project in Guinea, including 40 metres at 4.5 g/t gold, confirming a high-grade northeast extension beyond the current resource envelope with five rigs in the ground.

* FXG — Felix Gold confirmed near-surface gold and antimony mineralisation in Alaska, with a best intercept of 29.26 metres at 2.16 g/t gold from just 13.4 metres depth and antimony grades up to 20.85%.

* HLX — Helix Resources acquired a 50% stake in a West Pilbara gold-lithium project sitting just 4 kilometres from the Andover Lithium discovery that SQM and Hancock Prospecting acquired for roughly $1.7 billion.

* PCK — PainChek raised $5.5 million in convertible notes to accelerate its US aged care expansion, capitalising on a new agreement covering 350 Sabra aged care homes in North America.

* NX1 — Nexalis Therapeutics called a trading halt pending an announcement related to its existing debt funding facility. No details yet — debt facility news can cut either way and is worth monitoring from Tuesday.

ASX Daily Digest · Not financial advice · Price-sensitive announcements only

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ARU — Arafura Rare Earths makes Final Investment Decision to build Australia’s first fully integrated ore-to-oxide rare earths project

Arafura Rare Earths has made a Final Investment Decision on the Nolans Rare Earths Project in the Northern Territory — a landmark moment for Australia’s critical minerals industry. The project is backed by binding commitments from sovereign-backed institutions across four nations, with offtake agreements locked in with Hyundai, Kia, Siemens Gamesa and Traxys. Construction is targeting a September 2026 start under EPCM contractor Hatch, and Export Finance Australia has issued a non-binding Letter of Support for up to 500 tonnes per annum of NdPr Oxide under Australia’s Critical Minerals Strategic Reserve. This is Australia’s first fully integrated ore-to-oxide rare earths operation — a project years in the making that now has the green light.

EQT — ASIC files civil proceedings against Equity Trustees subsidiary over First Guardian Master Fund

ASIC has filed civil proceedings in the Federal Court against Equity Trustees Superannuation Limited over its role as trustee of the First Guardian Master Fund, seeking civil penalties, compensation and costs. Member losses through ETSL’s fund alone total approximately $70 million, part of an estimated $446 million in overall First Guardian investor losses. ETSL says it will defend the allegations, characterising First Guardian as primarily a case of alleged widespread fraud and arguing other parties should be the focus. This is a significant regulatory action with major implications for trustee accountability in Australia’s superannuation sector.

MM1 — Midas Minerals delivers exceptional copper-silver drill results at Namibia’s T-13 deposit, with intercepts up to 20.9% CuEq

Midas Minerals has reported spectacular infill drilling at its T-13 Copper-Silver Deposit in Namibia — intercepts including 50.6 metres at 7.81% copper equivalent and an eye-catching 14.4 metres at 20.9% copper equivalent, including 13.53% copper and 389 g/t silver. Infill drilling is confirming strong grade continuity in the Main Zone, while a first hole 600 metres away at T-13 West is opening up additional high-grade potential. Five drill rigs are active across the broader Otavi project with a sixth planned shortly and a resource estimate update expected later in 2026 — these are the kinds of grades that turn heads in the copper market.

Mid-Tier Movers

HGO — Hillgrove Resources secured an 80% earn-in to Havilah’s Mutooroo Copper Project in South Australia — a 12.5 million tonne resource grading 1.53% copper — via staged payments totalling up to $40 million. The smart angle is Hillgrove’s existing Kanmantoo processing facility, creating a lower-capital pathway with ore potentially railed directly for processing, fully funded from cashflow.

BTR — Brightstar Resources is on the cusp of a Final Investment Decision for its 1.5 million tonne per annum Laverton Processing Plant, with construction due to start June 2026 and first gold targeted for the June quarter 2027. The project targets approximately 75,000 ounces of gold per annum for six years, with a 2.5 million tonne per annum expansion study also underway.

GNG — GR Engineering executed a $229 million EPC contract with Genesis Minerals for the Tower Hill Gold Project in Western Australia — a 3.5 to 4 million tonne per annum gold processing facility. A significant contract win for GR Engineering and a further milestone in Genesis Minerals’ accelerating growth trajectory in the WA goldfields.

NOV — Novatti’s Alipay integration at UNSW has generated $33.6 million in gross transaction value and $0.5 million in revenue since launching in October 2025, enabling Chinese international students to pay tuition in yuan settled to the university in Australian dollars. UNSW is just the first of more than 30 Xetta-powered tertiary institutions eligible for the service — the Australian education payments opportunity here is substantial.

KNI — Kuniko delivered standout Phase 1 diamond drilling results at Commonwealth-Silica Hill in NSW — 7.1 metres at 8.4 g/t gold and 42 g/t silver, plus a 100-metre step-out at Silica Hill returning 3.4 metres at 4.1 g/t gold and a remarkable 2,947 g/t silver. A diamond rig is secured for Phase 2 commencing early July, targeting larger step-out extensions and deeper high-grade zones.

AVE — Avecho Biotechnology completed the treatment phase for all 244 participants in the interim analysis cohort of its pivotal Phase III insomnia trial, with the first efficacy readout expected in late June 2026. The company already holds a commercial partnership with Sandoz AG for Australia worth up to US$19 million including milestones — the interim data could be a significant catalyst.

Rapid Fire

* DPM — DPM Metals hit 58 metres at 15.28 g/t gold equivalent at Bulgaria’s Chelopech mine — more than double the current reserve grade — with an initial resource estimate targeted by year-end 2026 and preliminary metallurgy confirming compatibility with existing plant infrastructure.

* WWI — West Wits Mining executed a binding term sheet for a ZAR 875 million — roughly USD 53 million — senior loan facility with Absa Bank and Nedbank CIB to fund development of its Qala Shallows Gold Project in South Africa, which poured its maiden gold in March 2026.

* EOS — Electro Optic Systems completed its acquisition of MARSS, a counter-drone command and control business whose NiDAR system is actively protecting critical assets in the Middle East — expanding EOS’s defence division into the fast-growing counter-UAS market.

* ADO — AnteoTech’s Ultranode 95 silicon anode technology was independently validated in commercial-format drone battery cells, delivering over 390 watt-hours per kilogram — more than 40% higher than graphite — and exceeding defence drone cycle targets, with JDA discussions underway with two US drone battery manufacturers.

* AGN — Argenica Therapeutics cleared its second FDA hurdle for stroke drug ARG-007 with a clean Mouse Lymphoma Assay — only the hERG cardiac safety assay now stands between the company and a full clinical hold response to resume its US Phase 2b trial.

* IFM — The Takeovers Panel declined to block IFM’s off-market takeover bid for Atlas Arteria, clearing a key regulatory hurdle for the deal to proceed at up to $5.10 per security after ASIC granted relief and IFM provided undertakings addressing the Panel’s conditional pricing concerns.

* ABG — Abacus Group has been placed in a trading pause by ASX pending a material announcement — watch this space for what could be a capital raise or significant corporate event.

ASX Daily Digest · Not financial advice · Price-sensitive announcements only

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thelisteddigest.substack.com