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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

Top Stories

EOS — EOS raises A$190M via institutional and strategic placements at A$8.00 per share to fund MARSS acquisition

Electro Optic Systems has completed a fully underwritten A$150 million institutional placement and announced an additional A$40 million strategic placement to Abu Dhabi-based defence firm Calidus and another institutional investor — all at A$8.00 per share. The Calidus placement is subject to shareholder approval at an EGM expected in late June, and a further A$25 million share purchase plan is on offer for eligible retail investors. Combined with a secured term loan, the raise funds the MARSS acquisition and leaves EOS with a pro-forma net cash balance of approximately A$235 million. The Abu Dhabi strategic angle is notable — a Middle Eastern defence firm taking a stake in EOS at exactly the moment MARSS is landing €102 million in Middle East orders is not a coincidence.

GNP — GenusPlus raises A$200M via institutional placement to fund transformational MPC Kinetic acquisition

GenusPlus has secured firm commitments for a A$200 million single-tranche placement at A$9.25 per share — just a 5% discount to last close — to partly fund its acquisition of MPC Kinetic Holdings, announced just two days ago. The tight discount on a raise of this size signals strong institutional conviction in the deal’s strategic logic. MPC Kinetic completion is expected by 1 July 2026, with the acquisition expected to nearly double GenusPlus’ pro-forma EBITDA to A$195 million and diversify the company from electrical infrastructure into gas, water and civil construction.

OSL — OncoSil Medical secures TGA approval for its pancreatic cancer device in Australia

OncoSil Medical has received TGA approval for its OncoSil device, making it the first and only TGA-approved Class III medical device that targets tumours directly within the pancreas. Australia sees approximately 4,353 new pancreatic cancer cases each year — one of the most lethal and difficult cancers to treat — so this opens a genuine domestic commercial pathway. The device is already approved in over 30 countries including the EU and UK, and a new manufacturing facility in Sydney’s Macquarie Park is nearing completion. The TGA tick also strengthens OncoSil’s hand in pursuing additional international market approvals.

Mid-Tier Movers

ORN — Orion Minerals drilled an exceptional intercept at its Okiep Copper Project in South Africa — 7.88 metres at 9.24% copper, including 3.33 metres at a staggering 17.12% copper — confirming continuity of a high-grade norite-hosted copper zone that remains open at depth. A follow-up drill hole is already in the ground targeting extensions beyond the current 10 million tonne resource.

INV — InvestSMART agreed to sell its Intelligent Investor subscription and ETF business to Teaminvest Private Group for $16 million cash — a sale price that exceeds InvestSMART’s entire current market capitalisation. Post-sale the company will focus on its wealth platform, digital advice and Professionally Managed Accounts, with a strengthened balance sheet for further strategic acquisitions.

CXO — Core Lithium commenced blasting and excavation at the Grants open pit at its Finniss Lithium Operation in the Northern Territory — a physical restart of mining less than three months after Final Investment Decision approval. The Grants pit holds around 784,000 tonnes of ore expected to yield roughly 134,000 tonnes of SC5 spodumene concentrate, with first shipment targeted for Q4 2026.

GPR — Geopacific Resources completed a DFS for its Woodlark Gold Project in PNG, delivering a post-tax NPV of A$1.3 billion and an IRR of 50.6% with an 18-month payback from first production. The project targets over 100,000 ounces of gold per year at an AISC of A$1,966 per ounce, underpinned by a 1.2 million ounce ore reserve, with the company now seeking financing partners ahead of a Final Investment Decision by late 2026.

GHY — Gold Hydrogen reported air-corrected helium purities of up to 36.9% at its Ramsay Project in South Australia — world-leading figures — with an independent Worley assessment suggesting commercial viability with as few as two wells. With Australia importing 100% of its helium needs and a major global supply disruption removing roughly a third of world supply, the timing couldn’t be better. Flow testing is scheduled for June 2026.

WIA — Wia Gold raised A$92 million via institutional placement at A$0.46 per share to advance its Kokoseb Gold Project DFS in Namibia, which hosts a 2.93 million ounce resource. A scoping study previously pointed to a post-tax NPV of US$646 million and a 38% IRR at US$2,600 per ounce gold, with DFS completion targeted for H2 2026.

Rapid Fire

* FIN — FIN Resources drilled 7.84 metres at 18.2 g/t gold from just 12.66 metres depth at the Arrow Prospect in Canada’s Northwest Territories — two consecutive holes now confirming a broad, shallow, high-grade gold system with results from five further holes pending.

* MMA — Maronan Metals secured a $22 million strategic investment from US private equity firm Kinterra Capital at a premium to its last closing price, with Kinterra taking a 19.99% stake and gaining board representation rights — funds advance an expanded 2026 drilling program and a Preliminary Feasibility Study.

* KRM — Kingsrose Mining called a trading halt pending an announcement about the conclusion of its Finnmark Alliance with BHP. The BHP connection makes this one to watch when details drop on Friday.

* SNG — Siren Gold had its Sams Creek mining permit application rejected by New Zealand regulators, effectively ending the company’s interest in the project. Management says its other projects remain unaffected and an appeal is being considered.

* BHM — Broken Hill Mines recommenced open pit mining at its Pinnacles Silver-Lead-Zinc Mine after a five-year COVID-induced pause, with first ore expected at the Rasp Mill in the June quarter — the second high-grade ore feed into the Rasp plant within 12 months of ASX listing.

* WJL — Webjet Group revealed the reason for yesterday’s trading halt: Virgin Australia is slashing commissions effective 1 July 2026, cutting an estimated $3 million from annualised revenue. Webjet says it will adjust its commercial strategy in response.

* 88E — 88 Energy is targeting 133.7 million barrels of stacked oil resource with its Augusta-1 well on Alaska’s North Slope, with a rig secured, a 58-man Arctic camp contracted, and a Q1 2027 spud date locked in. A farm-out process is underway with multiple parties in the data room.

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

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EUR — European Lithium agrees to be acquired by NASDAQ-listed Critical Metals Corp at a 137% premium via scheme of arrangement

European Lithium has entered a binding Scheme Implementation Deed with NASDAQ-listed Critical Metals Corp, with EUR shareholders receiving 0.035 CRML shares for each EUR share held — implying A$0.58 per share, a 137% premium to the last unaffected closing price of A$0.245. The all-scrip deal consolidates 100% of the Tanbreez Rare Earths Project in Greenland and the Wolfsberg Lithium Project in Austria under CRML’s umbrella, with EUR shareholders ending up owning approximately 41% of the combined group. For ASX rare earths and lithium investors, this is a significant exit at a meaningful premium — watch trading volumes closely today.

CZN — Corazon acquires high-grade Chalice Gold Project for ~A$25.7M, raising A$16.5M and securing Westgold as 19.9% strategic shareholder

Corazon Mining is acquiring the Chalice Gold Project from Westgold Resources for approximately A$25.7 million — A$8 million cash upfront, A$6.7 million in scrip, and A$11 million in deferred milestones. The project already hosts a 191,000 ounce JORC resource at 2.7 g/t gold on a granted Mining Lease in WA’s Higginsville district, with a 645,000 ounce production history and immediate proximity to Westgold’s processing facility. Westgold is taking a 19.9% strategic stake as part of the deal, and a concurrent A$16.5 million institutional placement at 14 cents funds both the acquisition and a 15,000 metre drill campaign. This is a transformational moment for the small-cap.

4DX — 4DMedical’s CT:VQ™ technology shown to lift lung surgery success rates from 46% to 76% in landmark journal publication

4DMedical’s CT:VQ imaging platform has been validated in a peer-reviewed study published in the world’s leading respiratory journal, showing it lifts lung volume reduction surgery success rates from 46% to 76% — a 30 percentage point improvement in patient outcomes. The findings were presented at the ATS 2026 Congress in Orlando, the world’s largest respiratory medicine conference, giving the results maximum global clinical exposure. Crucially, CT:VQ derives functional lung data from existing non-contrast CT scans with no additional imaging required, making it straightforward to integrate into hospital workflows — a strong commercial tailwind for 4DX.

Mid-Tier Movers

BDX — BCAL Diagnostics embedded its cancer detection referral forms into Best Practice and Medical Director — the two GP software platforms covering approximately 97% of Australian GPs — creating an enormous national distribution pathway essentially overnight. A new multi-cancer early detection test is expected to launch in June 2026, with the pancreatic cancer test alone targeting over A$250 million per annum in Australia.

ASN — Anson Resources completed a Pre-Feasibility Study for its Green River Lithium Project in Utah, confirming first-quartile C1 operating costs of US$3,837 per tonne of lithium carbonate equivalent and a pre-tax NPV of US$1.37 billion. The company already holds a definitive offtake agreement with LG Energy Solution for 40% of annual production, targeting 10,000 tonnes per year from 2029 with a Definitive Feasibility Study now underway.

CUF — CuFe secured a A$15.35 million strategic investment from Pan African Resources’ subsidiary TCMG at a 10% premium to VWAP, giving the multi-billion dollar group a 15% stake in CuFe. Funds target the Gecko and Orlando copper project in Tennant Creek — the largest copper resource in the region — with a joint Technical Committee established to explore synergies with TCMG’s neighbouring Warrego project.

CHW — Chilwa Minerals returned 385 metres of continuous niobium mineralisation from surface at its Nakombe target in Malawi, with pXRF grades of 0.17% Nb2O5 over the full interval and a higher-grade zone of 0.24% over 60.5 metres near surface. Importantly, pXRF historically understates Nb2O5 by about 20%, so confirmed lab assays could come in higher — mineralisation is open in multiple directions with 180 metres of northeast extension already confirmed.

FAL — Falcon Metals confirmed gold mineralisation across more than 600 metres of strike at its Blue Moon Gold Project in Victoria, with a new Jasmine Zone identified and a northern step-out hole potentially doubling the Lotus Zone strike to 600 metres. Three diamond rigs are drilling 24/7 and the company holds A$19.3 million cash — one of the more active Victorian gold stories on the ASX right now.

NTM — NT Minerals scrapped its proposed Endeavour Project acquisition and cancelled tomorrow’s general meeting after a staggering 78% of proxy votes were cast against all resolutions. The deal was derailed by an unresolved rehabilitation liability at the McKinnons Gold Mine in NSW dating back to 2002 — the company’s ASX reinstatement conditions won’t be met and a supplementary prospectus will formally withdraw the capital raise.

Rapid Fire

* PV1 — Provaris Energy partnered with Japanese shipping giant K LINE and Norwegian Hydrogen to develop a compressed hydrogen supply chain from Norway to Northern Europe using its H2Neo carriers — the FjordH2 project already has a take-or-pay term sheet with Uniper targeting up to 40,000 tonnes per annum.

* SRZ — Stellar Resources hit 4.7 metres at 1.29% tin at its Montana deposit — the first drilling there in 14 years — as spot tin prices rally above US$50,000 per tonne near all-time highs, with a full Heemskirk PFS on track for the second half of 2026.

* MTM — Metallium’s US affiliate won a US$1 million Phase II contract from the US Department of War to scale up its Flash Joule Heating technology for recovering gallium and germanium from e-waste — two critical minerals where China dominates global supply.

* NTU — The Australian Treasurer ordered six foreign shareholders to divest approximately 17.6% of Northern Minerals by 2 July 2026 on national security grounds — the fourth government intervention in NTU’s register in three years, as the company targets a Final Investment Decision for Browns Range by 30 September 2026.

* RTR — Rumble Resources signed a toll milling deal with Kirkalocka Gold to process all of Western Queen’s forecast gold output at a 2.1 million tonne per annum plant — eliminating the need to build its own mill and fast-tracking the path to cash flow.

* WJL — Webjet Group is in a trading halt pending a material announcement about changes to a commercial arrangement expected to have a material financial impact. The halt lifts before market open tomorrow.

* VMM — Viridis Mining lodged its Installation Licence for the Colossus Rare Earth Project in Brazil — the second of three environmental licensing steps — with a Final Investment Decision targeted for the second half of 2026.

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

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CEL — Challenger Gold delivers outstanding PFS for Hualilan with US$1.45bn pre-tax NPV and 1.84Moz AuEq production target

Challenger Gold’s Pre-Feasibility Study for its 100%-owned Hualilan Gold Project in Argentina delivers a pre-tax NPV of US$1.45 billion, post-tax NPV of US$1.10 billion, and a 14.25-year mine life producing 1.84 million ounces of gold equivalent at an AISC of US$1,618 per ounce. What makes this particularly compelling is the capital efficiency — just US$232 million upfront with a 2.25-year payback. At current spot gold prices of US$4,600 per ounce, the pre-tax NPV balloons to US$2.67 billion with an IRR of 83%. The company has backed the result with an A$85 million placement and the appointment of Yamana Gold founder Peter Marrone as Non-Executive Chairman — a signal of serious intent toward development.

GNP — GenusPlus agrees to acquire MPC Kinetic for up to A$400M in transformational deal

GenusPlus has signed a binding agreement to acquire MPC Kinetic — a leading Australian gas gathering, well maintenance and renewable construction services company — for up to A$400 million including earn-out. MPC Kinetic generated FY25 audited revenue of A$533 million and EBITDA of A$104 million, and the deal would nearly double GenusPlus’ pro-forma EBITDA to A$195 million. The acquisition is funded via up to A$200 million in equity and upsized debt, diversifying GenusPlus into gas, water and civil infrastructure alongside its existing electrical capabilities. Notably, this announcement comes on the same day GenusPlus upgraded its FY26 EBITDA guidance by up to 13% to A$96–100 million — a strong combination.

EOS — EOS launches $175M capital raise to fund MARSS acquisition amid A$726M combined order book

Electro Optic Systems is raising up to A$175 million — a fully underwritten A$150 million institutional placement plus a A$25 million SPP, both priced at A$8.00 per share — to fund the MARSS counter-drone acquisition. MARSS has just secured €102 million in new Middle East orders, pushing its order book to €135 million and the combined EOS group order book to A$726 million, with 60 to 80% expected to convert to revenue across 2026 and 2027. For investors in the defence technology theme, this is one of the most significant ASX stories of the year.

Mid-Tier Movers

OBM — Ora Banda Mining approved a A$465 million growth plan — a new 3.0 Mtpa processing plant at Davyhurst for A$375 million and a A$90 million Waihi Underground mine — targeting nearly double nameplate milling capacity to 4.2 Mtpa by FY29. The company backed this with a 69% jump in total Mineral Resources to 3.57 million ounces and a strong balance sheet of A$232 million cash plus a new A$200 million revolving credit facility.

NTU — The Australian Treasurer issued forced disposal orders under the Foreign Acquisitions and Takeovers Act requiring divestment of approximately 1.68 billion Northern Minerals shares held by six named foreign-linked entities. Combined with earlier interim directions covering a further 361 million shares, over 2 billion NTU shares are now subject to government action — a highly unusual and significant regulatory intervention.

TUA — Singapore’s IMDA suspended its regulatory review of Tuas Limited’s proposed acquisition of M1 after subsidiary Simba allegedly used unauthorised radio frequency bands, potentially breaching the Telecommunications Act. With the deal’s long-stop date just days away on 21 May, this suspension creates serious uncertainty about whether the transaction can proceed at all.

AGR — Aguia Resources received its Operating Licence for the Tres Estradas phosphate project in Brazil, with mining commencing immediately on 18 May. First processed material arrives at the plant in early June, marking Aguia’s formal transition from developer to producer at a time of elevated pricing and supply disruptions in the domestic Brazilian market.

PME — Pro Medicus signed a A$90 million, 7-year contract with Boston-based Beth Israel Lahey Health — a 14-hospital system covering over 39,000 employees — for the full Visage 7 platform deployed in the cloud on a transaction-based licensing model. Go-live is targeted for Q1 2027, adding meaningful recurring revenue to PME’s already strong US contract book.

SDI — SDI Limited’s scheme booklet was registered by ASIC for a A$1.40 per share cash takeover by InnoXvest Dental, a subsidiary of Beijing Guoci linked to Shenzhen-listed Sinocera. The independent expert has declared the scheme fair and reasonable, the board unanimously recommends voting in favour, and the scheme meeting is set for 22 June with delisting expected 7 July.

Rapid Fire

* AA2 — Ariana Resources sold a 13.6% stake in Turkish gold miner Zenit for US$19.5 million, with proceeds funding a feasibility study at its 1.1 million ounce Dokwe Gold Project in Zimbabwe — leaving the company with A$53 million cash and no debt.

* ASK — Abacus Storage King is internalising its management for A$24 million, expecting around 6% FFO per security accretion from approximately A$7 million in annual cost savings, and will rebrand as Storage King Group trading under the new ticker SKG from 30 June.

* ALC — Alcidion is acquiring three Kyra patient flow software products from Telstra Health for A$3 million upfront plus up to A$1 million in earn-outs, adding 33 customers and A$3.7 million in forecast FY26 revenue at a compelling 2.7x EBITDA multiple.

* SSM — Service Stream won A$455 million in new utility contracts including a 9-year, A$405 million deal with Yarra Valley Water commencing October 2026 — long-term annuity-style revenue across water and energy sectors.

* DWG — Dataworks Group launched BetGuard — Ontario’s centralised self-exclusion platform — marking its entry into a second regulated international jurisdiction and connecting it to over 230 wagering operators globally.

* EXR — Elixir Energy confirmed Diona-1 as a commercial gas discovery in the Taroom Trough with zero CO2 and H2S impurities, a Contingent Resource booking now being pursued, and net acreage growing to 548,000 net acres — the largest position in the play.

* RR1 — Reach Resources secured a fully-funded path to gold production at its 80,000 ounce Murchison South project via a 50/50 profit-share deal with Andel Resources, who will pay a non-refundable A$2 million option fee and fund all mining and processing costs.

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

Top Stories

PEB — Pacific Edge wins proposed Medicare coverage for Cxbladder Triage and Triage Plus — the only urine biomarker tests included

Pacific Edge has received the news its shareholders have been waiting for. Medicare contractor Novitas has published a draft Local Coverage Determination proposing to cover urine-based biomarker testing for microhematuria evaluation for the first time — and Cxbladder Triage and Triage Plus are the only tests explicitly named as reimbursable. That covers 66 million Medicare lives in the US and creates a competitive moat rivals cannot easily breach. The higher-priced Triage Plus at US$1,328 per test represents a 75% price improvement over legacy products, fundamentally shifting the company’s path to profitability. A minimum 45-day public comment period begins now, with a final LCD expected within 12 months — but the direction of travel here is unambiguous.

EOS — EOS completes US$36M upfront payment for MARSS acquisition, boosting combined order book to A$726M

Electro Optic Systems has completed its acquisition of counter-drone technology firm MARSS, drawing A$70 million from its WHSP term loan facility to make the US$36 million upfront payment. MARSS has landed €102 million in new orders from a Middle Eastern customer in May alone — including a £85 million country-wide drone detection contract expected to be around 70% delivered in 2026-2027 — pushing the combined EOS group order book to A$726 million. The earnout cap has been raised to €140 million, contingent on MARSS hitting €700 million in new orders — suggesting both parties expect significant momentum in the global defence drone market.

ALK — Alkane Resources delivers record Q3 FY2026 net profit of $93 million on surging gold and antimony prices

Alkane Resources has posted its best quarter ever — $274 million in revenue, $161 million EBITDA, and a record net profit of $93 million or 6.81 cents per share for the March quarter. Record gold production of 44,669 ounces and 377 tonnes of antimony drove the result, with the Mandalay Resources merger in August 2025 adding the Costerfield and Björkdal mines to the portfolio. The company is sitting on $374 million in cash, bullion and listed investments and remains on track for full-year guidance — a powerful demonstration of what surging gold and antimony prices can do to a well-run multi-mine operator.

Mid-Tier Movers

AAR — Astral Resources’ first diamond drill hole at its Theia deposit in WA returned an exceptional 358 metres at 1.03 g/t gold, extending mineralisation 210 vertical metres below the current 1.4 million ounce resource. Key high-grade zones include 127 metres at 1.20 g/t and 81 metres at 1.35 g/t, largely outside the existing resource envelope — flagging strong growth potential ahead as a nine-hole diamond program continues.

STN — Saturn Metals executed a Native Title Project Agreement with the Nyalpa Pirniku traditional owners, clearing a critical permitting hurdle for its Apollo Hill Gold Project in Western Australia. The deal directly supports grant of the Apollo Hill Mining Lease and includes milestone payments, gold royalties, cultural heritage protections and employment opportunities — paving the path to production.

VCX — Vicinity Centres exchanged contracts to acquire Eastern Creek Quarter in Western Sydney from Frasers Property for $400 million — a hybrid outlet, shopping centre and large format retail asset of approximately 41,000 square metres. Settlement is expected 30 June 2026, funded through existing debt facilities with gearing increasing by approximately 200 basis points.

ARN — Aldoro Resources drilled the longest single mineralised intercept ever recorded at Kameelburg in Namibia — 503.98 metres of continuous REE, strontium and niobium mineralisation from surface, averaging 1.30% TREO. The deepest internal layer delivered the best combined grades in the hole at 2.39% TREO and 6.3% strontium carbonate, and it remains open at depth. An updated resource estimate is due in June.

GTI — Gratifii is acquiring loyalty platform Simplicity Australasia for $3.4 million — $4.6 million in FY25 revenue and blue-chip clients including a QSR franchise, Dulux and Schneider Electric — while simultaneously investing $5 million in convertible notes into marketplace platform Marketplacer and raising $10 million via placement to fund it all. All four directors are participating in the raise.

XRG — xReality Group’s subsidiary Operator XR completed a 20-month, AU$5.6 million US Department of Defense subcontract on time and on budget, with the prototype formally accepted. The commercialised MR-1 mixed reality training system has already secured its first sale to a separate US DoD customer — proof the technology has legs well beyond the original contract.

Rapid Fire

* TRE — Toubani Resources locked in a binding US$73.3 million debt commitment from Coris Bank to fund construction of its Kobada Gold Mine in Mali, alongside a US$10.2 million mezzanine facility and gold stream arrangement — the funding package is taking shape against a $124 million cash backdrop.

* CVW — ClearView Wealth received ACCC clearance for its acquisition by Zurich Financial Services Australia, sailing through Phase 1 of the new mandatory merger regime with APRA, shareholder and court approvals still to follow.

* ASM — The Federal Court approved scheme meetings for Energy Fuels’ acquisition of Australian Strategic Materials, with shareholders voting on 22 June and implementation targeted for 7 July 2026.

* CNQ — Clean TeQ Water won a Design and Construct contract to build a proprietary ATA tailings dewatering plant at the Rasp Mine in Broken Hill, with a long-term polymer supply agreement also in negotiation.

* VMM — Viridis Mining completed infill drilling at its Colossus Rare Earth Project in Brazil with assays beating the block model — standout hit of 16 metres at 7,434 ppm TREO — as it targets a Final Investment Decision in Q3 2026.

* EXL — Elixinol’s The Healthy Chef brand is rolling out into approximately 410 Priceline stores nationally from July 2026, with a Stage Two expansion possible in early 2027 subject to performance.

* CDT — Castle Minerals called a trading halt ahead of a proposed acquisition announcement. The halt runs until Tuesday 19 May.

* NME — Nex Metals shareholders approved the sale of its Arika Joint Venture interest at today’s EGM with 99.17% of votes in favour — the trading halt is expected to lift shortly.

* NVU — Nanoveu is acquiring Singapore drone firm Spinoff Robotics to build a full-stack drone autonomy platform from AI chip to airframe, targeting defence and surveillance markets with validated Tier-1 Singapore customers already on board.

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

Top Stories

MP1 — Megaport secures $254M in AI infrastructure contracts via Latitude.sh across two US tech customers

Megaport’s subsidiary Latitude.sh has landed AUD$254 million in total contract value from two US-based AI companies, covering GPU, CPU, network and storage infrastructure — a transformational win for the company. The contracts generate AUD$90.6 million in annual recurring revenue and require AUD$140.3 million in capex, primarily NVIDIA hardware, with roughly a two-year payback period funded via existing cash and a newly upsized AUD$150 million debt facility. Full ARR run-rate is expected by end of H1 FY27 and FY26 guidance is unchanged — but this deal fundamentally re-rates Megaport’s growth outlook at exactly the right moment in the AI infrastructure boom.

SPG — SPC Global launches heavily discounted $100M equity raise to slash debt and reset balance sheet

SPC Global — the company behind iconic Australian brands including SPC canned goods — is raising approximately $100 million through a placement and pro rata renounceable entitlement offer, both priced at just $0.10 per share. That is a brutal 71% discount to the last traded price of $0.345. The raise is primarily a balance sheet rescue, designed to cut net leverage from 3.9 times down to approximately 1.1 times and reduce annual interest expense from $15 million to roughly $4.5 to $5 million. Existing retail shareholders face significant dilution — this is not a growth raise and investors should understand the scale of what is happening to their holdings.

FLG — Flagship Minerals defines transformational 2.1 million ounce gold resource at Isidora Norte in Chile

Flagship Minerals has delivered a JORC-compliant Mineral Resource Estimate of 2.1 million ounces of gold at its Isidora Norte deposit in northern Chile — 115.2 million tonnes at 0.56 g/t, with over 91% in the higher-confidence Measured and Indicated categories. Critically, 40% of the resource is oxide or mixed material amenable to lower-cost heap leach processing. The resource was estimated using a gold price of approximately US$3,646 per ounce — roughly 30% below current spot — meaning the economics only get better at today’s prices, and the deposit remains open in multiple directions with further drilling planned.

Mid-Tier Movers

PEN — Peninsula Energy secured a US$56 million funding package — A$21.8 million institutional placement, A$14.2 million entitlement offer, and a US$30 million convertible note from major shareholder Washington H. Soul Pattinson — to fast-track expansion of its Lance Uranium Project in Wyoming. Funds develop Mine Units 5 and 6 and repay existing debt, with production guidance for CY2026 and CY2027 unchanged. Soul Patts’ firm participation alongside a full underwrite signals strong strategic confidence.

CNB — Carnaby Resources made a significant new copper-gold discovery at its Trek 1 Footwall Lode in Queensland’s Greater Duchess Project — 19 metres at 7.1% copper equivalent including 4.4% copper and 3.1 g/t gold from 256 metres depth. The lode sits entirely outside the existing Mineral Resource and is open down plunge and along strike, representing pure upside with an updated resource, open pit optimisations, and a Feasibility Study all targeted for H2 2026.

ASX — ASX Limited named Anthony Attia as its new Managing Director and CEO starting 1 September 2026, bringing nearly 30 years of experience at Euronext, ICE and NYSE Euronext — one of the most internationally credentialled exchange executives the ASX has ever appointed. Current CEO Helen Lofthouse departs 29 May, with Darren Yip stepping in as Interim CEO until Attia arrives.

KCN — Kingsgate Consolidated paid US$21.6 million to eliminate royalties and secure critical water rights at its Nueva Esperanza Silver-Gold Project in Chile, removing a US$2 million per year pre-production royalty burden and two NSR royalties of 5% and 3% over key tenements. Funded entirely from existing cash reserves of around A$139 million — a smart balance sheet move that materially improves project economics ahead of a potential construction decision.

ASL — Andean Silver discovered bonanza-grade silver-gold veins well outside its existing 111 million ounce resource at Cerro Bayo in Chile, with rock chip samples returning over 31,750 g/t silver equivalent. The new mineralisation sits within 200 metres of the existing Laguna Verde processing plant, meaning resource conversion could flow quickly into mine plans. A Mineral Resource update is due in June 2026 with economic studies already underway.

AUE — Aurum Resources grew its Boundiali Gold Project resource by 6% to 3.22 million ounces, with the Indicated category surging 24% to 1.70 million ounces following intensive infill drilling — total group resources across Boundiali and Napié in Côte d’Ivoire now stand at 4.38 million ounces. A Pre-Feasibility Study is due this quarter and the company holds a strong $61 million cash position.

Rapid Fire

* WA1 — WA1 Resources upgraded its Luni Niobium Project Indicated Resource by 20 million tonnes to 93 million tonnes at 1.32% niobium pentoxide, with 57% of contained niobium now in the higher-confidence Indicated category — an Ore Reserve declaration is the next major milestone.

* MM8 — Medallion Metals confirmed high-grade gold-copper continuity at Kundip in WA with intercepts including 5.3 metres at 33.3 g/t gold, bolstering confidence in the mine plan ahead of underground development commencing in August 2026.

* EMN — Euro Manganese’s Czech Chvaletice project returned a post-tax NPV of US$492 million, a 13.8% IRR, and a 48% operating margin from a Preliminary Economic Assessment targeting 150,000 tonnes per annum of high-purity manganese sulphate for battery supply chains.

* AQI — Alicanto Minerals is divesting its Swedish assets for up to A$21 million while doubling its Mt Henry Gold Project footprint in WA to 150 square kilometres, and plans to rebrand as Sinclair Gold with a 50,000 metre drill program already underway.

* OD6 — OD6 Metals validated historic drilling at its Horseshoe Fluorspar Deposit in Nevada, confirming exceptional grades up to 93.7% calcium fluoride from shallow intercepts — the system is open in all directions at a time when domestic US fluorspar supply is a strategic priority.

* HYD — Hydrix won a $1 million to $1.2 million contract with defence group NIOA to develop a telemetry-capable kinetic counter-drone payload for the Australian Defence Force, with a demonstration milestone due in December 2026.

* SM1 — Synlait Milk CEO Richard Wyeth resigned, with board director Leon Fung stepping in as Acting CEO from today as the company continues to navigate operational, quality, and financial challenges.

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

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ELV — Elevra Lithium raises A$275 million via fully underwritten institutional placement at A$12.20 per share

Elevra Lithium has successfully completed the institutional placement component of its A$441 million financing package, raising A$275 million at A$12.20 per share with strong support from both existing and new domestic and global institutional investors. Approximately 22.5 million new shares were issued, representing 13.3% of existing shares, with settlement on 15 May and trading commencing 18 May. A Share Purchase Plan will follow targeting up to A$20 million at the lower of the 5-day VWAP or A$12.20 — eligible shareholders should watch the SPP closely for a potential entry point. Combined with the Canada Growth Fund convertible notes, the package fully funds the NAL Brownfield Expansion and advances Moblan toward a Final Investment Decision.

DVP — Develop Global wins A$274M underground mining contract with Core Lithium for Finniss Lithium Project

Develop Global has been awarded a A$274 million contract to conduct all underground development and production mining at Core Lithium’s Finniss Lithium Project in the Northern Territory — a minimum three-year deal with a two-year extension option expected to generate steady-state annual revenue of A$120 million. Mobilisation begins June 2026 with underground mining commencing July 2026 at the BP33 deposit, which has more than 10 years of mine life. The contract arrives as Develop simultaneously exits Bellevue Gold, freeing approximately $50 million in capital equipment to redeploy — including toward its own Sulphur Springs copper-zinc project targeting a Final Investment Decision this quarter.

PRN — Perenti’s Barminco secures $850M underground mining contract at Bellevue Gold Project

Perenti’s underground mining arm Barminco has been awarded an approximately A$850 million contract by Bellevue Gold to provide underground mining services at its Western Australian project — a 48-month contract commencing 1 August 2026 with a 12-month extension option. The deal significantly bolsters Barminco’s Australian portfolio, though investors should note it will require approximately A$75 million in growth capital investment in FY27. Notably, this contract begins almost exactly as Develop Global exits the same project — a clean handover at one of WA’s most prominent new gold mines.

Mid-Tier Movers

ARU — Arafura Rare Earths signed a binding offtake term sheet with Traxys North America for 500 tonnes per annum of NdPr oxide over five years, targeting the US critical minerals supply chain including the potential US EXIM-managed Project Vault. This is separate from an earlier Traxys Europe deal and adds real commercial momentum to the Nolans Project, with a long-form agreement expected within six months subject to a Final Investment Decision.

ASN — Anson Resources and South Korean industrial giant POSCO Holdings received board approval for a definitive agreement to build and operate a Direct Lithium Extraction demonstration plant at Anson’s Green River Lithium Project in Utah — POSCO funding all construction and operating costs and paying Anson a facilitation fee of approximately AUD $7.2 million. A meaningful validation from one of the world’s largest industrial conglomerates, with the plant expected to begin operations in 2027.

RSG — Resolute Mining’s scoping study for its ABC Project in Côte d’Ivoire delivered a post-tax NPV of US$1.2 billion and a 39% IRR at a US$3,500 gold price — a 12-year open pit mine averaging 141,000 ounces per year with US$648 million in capital costs and a 1.4-year payback. At current gold prices well above the base case, the economics are compelling, with a Definitive Feasibility Study targeted by end-2027.

CYL — Catalyst Metals expanded its Cinnamon underground gold zone by 75% to over 700 metres of strike on the Plutonic Gold Belt, with headline intercepts of 38 metres at 10.5 g/t gold and 17 metres at 21.5 g/t. Cinnamon now has the potential to become a sixth underground ore source feeding Catalyst’s 2 million tonne per annum processing plant, further building its path to 200,000 ounces per year production — all self-funded from A$277 million in cash with no debt.

ALX — Atlas Arteria’s Independent Directors formally urged shareholders to reject IFM’s hostile takeover bid at the 2026 AGM, highlighting 9.3% proportional EBITDA growth in 2025 and reaffirming 2026 distribution guidance of 40 cents per security. This is shaping up as a drawn-out battle — IFM’s offer puts a floor under the security price while the board argues the company is worth considerably more.

LIS — Li-S Energy secured approvals from Australia’s CASA and the US FAA and PHMSA to airfreight its prototype lithium-sulfur battery cells to American defence customers — a regulatory milestone 18 months in the making. This clears the path for supply agreements with US defence primes and drone manufacturers, with UN38.3 certification now underway to enable larger commercial shipments.

Rapid Fire

* BKB — Black Bear Minerals more than doubled its Independence Project gold resource in Nevada to 2.2 million ounces AuEq — including a high-grade 1.0Moz skarn at 6.29 g/t — achieved at a low cost of just AU$4.71 per ounce after 12 months of drilling.

* ARD — Argent Minerals drilled 91.2 metres at 39.5 g/t silver entirely outside its existing Kempfield resource boundary in NSW — a clear signal the 65.8 million ounce silver system is larger than currently defined.

* SHN — Sunshine Metals hit 22 metres at 20.25 g/t gold at its Liontown deposit in Queensland, with an updated resource due next quarter feeding into a revised mining study commencing June 2026.

* SLB — Stelar Metals entered an earn-in agreement for the Hill of Leaders Tungsten Project in the NT — 445 square kilometres in Tennant Creek with rock chip samples up to 6.1% WO3 and no bedrock drilling ever completed. Tungsten prices have reportedly surged around 900% in the past 12 months due to Chinese export controls.

* FCT — FirstWave Cloud Technology halted trading ahead of a material contract award announcement. The halt runs until Friday 15 May.

* TTT — Titomic signed a Scheme Implementation Deed to redomicile from Australia to the US via a new Delaware corporation, with shareholders retaining equivalent economic interests via CDIs and a shareholder vote targeted for late July 2026. Key rationale includes ITAR compliance for US defence contracts and access to US capital markets.

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

ELV — Elevra Lithium launches A$441M financing package to fully fund NAL expansion and advance Moblan project

Elevra Lithium has announced a transformational financing package of up to A$441 million — one of the largest ASX lithium capital raises in recent memory. The package comprises a fully underwritten A$275 million institutional placement at A$12.20 per share, A$146 million in convertible notes from the Canada Growth Fund, and a non-underwritten Share Purchase Plan targeting up to A$20 million. Proceeds will fully fund the three-stage NAL Brownfield Expansion to 338,000 tonnes of spodumene concentrate per year by mid-2029, with key pre-development work at Moblan also funded through to Final Investment Decision. The Canada Growth Fund’s participation provides strong government-backed validation of Elevra’s North American critical minerals strategy, arriving alongside an updated scoping study showing a 102% increase in incremental NPV to C$969 million and a total NAL project NPV of C$3.1 billion at a 41.8% IRR.

FMG — Fortescue hit with $150M cultural loss ruling in Yindjibarndi native title compensation case

The Federal Court has ordered Fortescue to pay A$150 million for cultural loss plus approximately A$100,000 plus interest for economic loss to the Yindjibarndi Ngurra Aboriginal Corporation, following a Native Title Compensation Claim lodged in 2022. The A$150 million cultural loss component in particular sets a significant legal precedent for how courts value intangible Indigenous heritage impacts from major mining operations — this is a landmark ruling for the Australian resources sector that will be closely watched by every major miner operating on or near native title land. Fortescue has said it will review the court’s full reasoning once published.

BXN — Bioxyne lands $50M two-year medicinal cannabis supply deal with German distributor ADREXpharma

Bioxyne has signed a $50 million, two-year supply agreement with German pharmaceutical company ADREXpharma GmbH to supply its Dr Watson branded medicinal cannabis products into Germany — Europe’s largest medicinal cannabis market estimated at over 200 tonnes per annum. The deal includes a $25 million minimum purchase commitment in the first 12 months alone and grants ADREXpharma exclusive German distribution rights, building on an initial supply deal struck in June 2025. For a small ASX biotech, $25 million guaranteed in year one is the kind of commercial anchor that transforms a speculative story into a revenue story.

Mid-Tier Movers

GA8 — GoldArc Resources returned bonanza-grade gold from first-pass RC drilling at its Cosmopolitan Prospect in Western Australia — 23 metres at 11.31 g/t gold — and uncovered a previously unrecognised Upper Zone sitting 30 to 40 metres above the known Main Zone. The historic Cosmopolitan mine produced around 360,000 ounces at 15 g/t, and these results confirm significant mineralisation remains outside the old mined envelope, with wide 60 to 80 metre drill spacings suggesting much more to come.

TMS — Tennant Minerals confirmed extraordinary re-assay results at its Bluebird discovery in the Northern Territory — 18 metres grading up to 47.2 g/t gold, 12% bismuth and 9.3% copper — validating the original intercept and demonstrating repeatability. The zone extends below and west of the existing open-pit resource which remains open down-plunge, and the company has raised $2.8 million to fund an expanded drill program targeting this genuinely rare multi-metal system.

LRV — Larvotto Resources reached a major construction milestone at its Hillgrove antimony-gold project in NSW, with first development ore successfully mined underground and delivered to surface stockpiles. Underground contractor PYBAR has advanced 170 metres and rehabilitated 1.9 kilometres of drives, with process plant commissioning on track for August 2026 — targeting average annual production of around 85,700 gold-equivalent ounces over eight years.

AII — Almonty Industries posted a 221% revenue surge to US$25.4 million in Q1 2026, swinging to positive adjusted EBITDA of $6.1 million as record tungsten prices and its landmark Sangdong Mine commissioning in South Korea transform the company’s financial profile. With $259.9 million in cash and Sangdong now the Western world’s most significant new tungsten mine, Almonty is positioning itself as a critical defence supply chain player.

WR1 — The Supreme Court of Western Australia approved both schemes for Li-FT Power’s acquisition of Winsome Resources, with the schemes now legally effective after court orders were lodged with ASIC. Winsome shares are suspended from today’s close, implementation is 21 May, and delisting follows on 22 May — marking the end of Winsome’s ASX chapter in a closely watched lithium sector consolidation.

GT3 — Green360 Technologies signed a non-binding MOU with Holcim Australia — subsidiary of global building materials giant Holcim Group with CHF 15.7 billion in annual revenues — to supply up to 4,800 tonnes of its Eco-Clay metakaolin low-carbon cement product over 12 months. This is Green360’s first named commercial customer, with a binding supply agreement targeted within 90 days.

Rapid Fire

* DM1 — Desert Metals extended its Tiogo gold corridor in Côte d’Ivoire to 1.5 kilometres of continuous strike, with a standout aircore hit of 4 metres at 19.48 g/t gold — RC and diamond drilling to follow to test fresh bedrock below, located 30 kilometres along strike from Perseus Mining’s Sissingué mine.

* KNB — Koonenberry Gold extended Sunnyside gold mineralisation to 415 metres vertical depth with high-grade hits including 4.6 metres at 8.82 g/t gold, confirmed across five drill sections and remaining open in multiple directions.

* TCG — Turaco Gold drilled 28 metres at 2.17 g/t and 20 metres at 2.28 g/t outside its existing 4.65 million ounce resource at Afema in Côte d’Ivoire, with two new exploration targets identified and a Pre-Feasibility Study due next month.

* EVG — Evion Group secured an option over the historic CARP Fluorspar Project in Nevada and raised A$6.635 million, positioning itself as the only ASX-listed company with exposure to both graphite and fluorspar — two critical minerals where the US is 100% import-dependent.

* OD6 — OD6 Metals rediscovered the Big Jim Fluorspar Lode in Nevada with visual grades of up to 98.6% CaF2, confirming a third major fluorspar system at its Quinn project alongside existing Mammoth and Horseshoe discoveries.

* ETM — Energy Transition Minerals signed an MOU with global commodity trader Traxys — over US$10 billion in annual revenues — for up to 100% offtake of tin, tantalum and niobium from its Penouta mine in Spain, the EU’s only domestic source of all three critical minerals.

* BWN — Bhagwan Marine cut its standalone FY26 EBITDA guidance to $38.5–$40.5 million due to Middle East geopolitical delays in project awards, though consolidated guidance including newly acquired Riverside Marine comes in at $44.5–$46.5 million.

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

Top Stories

OML — oOh!media receives competing $1.45/share takeover bid from I Squared Capital, topping earlier $1.40 PEP offer

oOh!media is now the subject of a bidding war. I Squared Capital has lobbed an unsolicited non-binding indicative offer of A$1.45 per share via scheme of arrangement, topping Pacific Equity Partners’ earlier $1.40 bid from just two weeks ago. The board has unanimously rejected both proposals as inadequate but is granting limited due diligence access to both parties to encourage higher revised bids — and is also engaging with additional third parties who may submit competing proposals. The on-market buyback has been paused. With two suitors already at the table and the board actively shopping the asset, this one has considerably further to run.

ARN — Aldoro Resources confirms world’s largest strontium resource as Kameelburg MRE surges to 597Mt

Aldoro Resources has declared what it is calling the world’s largest strontium resource — 596 million tonnes at 2.17% strontium at its Kameelburg project in Namibia, sitting entirely outside China and Iran-dominated supply chains. The overall resource has simultaneously grown 15% to 597 million tonnes at 2.49% TREO equivalent — and this is after drilling just five Phase 2 holes. Four distinct revenue streams are on the table: rare earth oxides, niobium, strontium carbonate, and a potential iron by-product, with metallurgical testwork showing 98.96% strontium extraction at ambient temperature using a simple acid leach. Exceptional numbers across the board.

DTR — Dateline Resources delivers BFS for Colosseum Gold Project with US$785M NPV and 49.5% IRR

Dateline Resources has completed a Bankable Feasibility Study for its 100%-owned Colosseum Gold Project in California, returning a pre-tax NPV of US$785 million and an IRR of 49.5% at a base gold price of US$4,200 per ounce — rising to US$999 million NPV at current spot. The project would produce 573,000 ounces over a 10.4-year mine life, averaging 75,000 ounces per year in the first six years, with startup capital of US$249 million plus a US$25 million contingency. The company is now advancing front-end engineering and engaging project financiers — at current gold prices well above the base case, the economics here are very compelling.

Mid-Tier Movers

GG8 — Gorilla Gold made its fourth new gold discovery in three weeks at Comet Vale in Western Australia — Diddy Kong returned 8 metres at 3.2 g/t gold from just 14 metres depth, sitting beneath a 1 kilometre soil anomaly open in all directions. An RC rig is mobilising in May to follow up all three shallow discoveries simultaneously across the company’s six-rig operation.

ELV — Elevra Lithium agreed to sell its entire stake in Ghana’s Ewoyaa Lithium Project to China’s Zhejiang Huayou Cobalt for approximately US$71 million cash — a clean exit at a meaningful valuation in a tough lithium market, with proceeds redirected to the company’s core North American assets. The deal is not contingent on Huayou’s separate bid for Atlantic Lithium.

STX — Strike Energy hit the reset button on leadership. CEO Peter Stokes is out immediately after 11 months in the role, Fortescue’s former COO Shelley Robertson comes in on 1 June, and Nev Power replaces John Poynton AO as Chair from 30 June. The changes follow an independent board review and signal a clear strategic pivot from developer to integrated energy business in Western Australia.

EMV — EMVision is expanding its pivotal brain scanner trial to include ischaemia detection, which covers around 80% of all stroke presentations — previously the trial only covered haemorrhage. The expansion could save up to two years and multi-millions in costs versus running a separate trial, with full enrolment targeted from late 2026 into early 2027 across nine US and Australian hospital sites.

PEB — Pacific Edge is raising NZ$24 million to fund operations while fighting to get US Medicare coverage reinstated for its Cxbladder bladder cancer diagnostic tests. Revenue collapsed from NZ$21.8 million to NZ$11.5 million after losing that coverage in 2025. The key catalyst to watch is before September 2026, when Medicare contractor Novitas is expected to release a draft Local Coverage Determination that could restore reimbursement.

AIS — Aeris Resources more than doubled the known strike length at its Avoca Tank copper deposit at Tritton in NSW — from under 80 metres to over 160 metres — and confirmed a new trend connecting to the central mining corridor. Mineral resource updates for both Avoca Tank and Budgerygar are expected in Q4 FY26, potentially upgrading Inferred material to Indicated.

Rapid Fire

* PNR — Pantoro Gold discovered a significant high-grade gold zone at the Racetrack Target just 600 metres from its OK Underground Mine, with intercepts up to 82.99 g/t gold over 2 metres, confirmed over 400 metres of strike and open to the east and at depth.

* IXR — Ionic Rare Earths’ subsidiary demonstrated a world-first circular rare earth supply chain for Ford electric vehicle motors in the UK, with recycled magnets passing Ford’s durability tests at equivalent performance to virgin-mined materials — validated under UK Government funding.

* AGR — Aguia Resources says its Brazilian phosphate plant is construction-ready by 15 May with an Operating Licence expected within three weeks, with its product priced 30–40% below imported alternatives due to local port supply disruptions.

* SLS — Solstice Minerals extended its Nanadie copper-gold system 500 metres below the existing resource boundary in Western Australia, with visible chalcopyrite to at least 800 metres depth. Assay results are due in four to six weeks.

* NHE — Noble Helium secured a rig for its Tanzania helium drilling campaign, with two shallow wells targeting depths of 430 and 1,500 metres set to spud in early July 2026 at significantly lower cost than its previous campaign.

* STM — Sunstone Metals was forced by the ASX to retract all production targets from its Bramaderos Gold-Copper Scoping Study due to excessive reliance on Inferred resources. Investors should not rely on the earlier figures.

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

Top Stories

ALX — Atlas Arteria board unanimously rejects IFM’s hostile $4.75 takeover offer as too low and opportunistic

The Independent Directors of Atlas Arteria have unanimously recommended security holders reject IFM’s unsolicited off-market takeover offer of A$4.75 per stapled security, calling it materially undervalued and opportunistic. The offer is actually below Atlas Arteria’s last closing price of A$4.79 — and IFM itself purchased securities at A$5.10 as recently as November 2025, which rather undermines the credibility of the current bid. Atlas Arteria has also filed an application with the Takeovers Panel challenging the offer’s two-tiered pricing structure, seeking to block despatch of the bidder’s statement in its current form. The company reaffirmed 2026 distribution guidance of 40.0 cents per security. This fight is far from over.

CRS — Caprice Resources hits bonanza 22m @ 66.2 g/t gold in new parallel lode at Island Gold Project

Caprice Resources has delivered its best ever drill result at the Island Gold Project in Western Australia — 22 metres at 66.2 g/t gold, including 8 metres at 181 g/t gold from just 42 metres depth. Critically, this intercept defines a brand new high-grade lode sitting approximately 120 metres parallel to the primary Vadrians lode, confirming Island Gold is a multi-lode system with significantly more resource potential than previously understood. The company is fast-tracking follow-up drilling as part of a 50,000-metre programme targeting a maiden Mineral Resource Estimate, with assays pending from adjacent holes drilled directly beneath this intercept.

DGT — DigiCo sells Chicago data centre for US$750M, slashing debt and boosting financial flexibility

DigiCo Infrastructure REIT has entered a binding agreement to sell its Chicago data centre for US$750 million — a 5% premium to purchase price — with proceeds dramatically reshaping the balance sheet: net debt slashed from $1.5 billion to approximately $500 million and gearing dropping from 36% to 17%. The freed-up capital will accelerate the strategically important SYD1 88MW development project in Sydney, and the US asset sales are expected to be materially FFO accretive from FY27. DigiCo is also flagging enhanced distributions above FFO in the short term — a genuine positive for REIT income investors.

Mid-Tier Movers

AR1 — Austral Resources’ very first drill hole at the Snow Queen prospect in Queensland returned a standout 10 metres at 7.52% copper from just 35 metres depth, including 4 metres at 15.98% copper. The result supports Austral’s hub-and-spoke strategy of feeding its existing Rocklands processing facility with satellite copper sources, and a follow-up hole is already completed with results due in two to four weeks.

BWP — BWP Trust launched a fully underwritten 1-for-12 entitlement offer at $3.77 per security — a 4.3% discount to last close — to raise approximately $228 million, funding a $163 million pipeline of large format retail developments. FY26 distribution guidance of 19.41 cents per security has been reaffirmed, and major shareholder Wesfarmers has committed to take up its full $53 million entitlement. Notably, this is BWP’s first equity raising in 13 years.

EMR — Emerald Resources cleared the final regulatory hurdle for its Dingo Range Gold Project in Western Australia, receiving Works Approval from the state government and committing approximately A$30 million to purchase two Metso SAG Mills and crushing equipment. This puts Emerald firmly on the path toward becoming a multi-continent gold producer targeting 300,000 to 400,000 ounces per year across WA and Cambodia.

CUF — CuFe’s scoping study for its Orlando copper-gold project in Tennant Creek delivered an NPV of A$705 million against pre-production capex of just A$141 million — an IRR of 111% and a 10-month payback. Gold drives 66% of revenue, bismuth and silver add further streams, and the company is exploring a fast-start toll-treatment option to generate early cash flow while pursuing offtake and strategic investor discussions.

SVY — Stavely Minerals confirmed a roughly 2-kilometre by 750-metre hydrothermal breccia system at Freddy’s Find in western Victoria, with multiple gold-silver intercepts including 16 metres at 1.09 g/t gold equivalent. The mineralisation style suggests a fertile porphyry-epithermal system, and a deep 300-metre diamond drill hole is planned for late May to test depth potential.

CPN — Caspin Resources extended its Kelpie tin deposit in NSW by more than 75 metres beyond the current resource, with hole BRC033 hitting 21 metres at 0.78% tin including 5 metres at 1.54% tin. The Stewart Fault Zone mineralised strike has more than doubled, a further 3,000 metres has been added to the drill program, and 15 holes are still awaiting assays.

Rapid Fire

* ALX — In a related development to the Atlas Arteria takeover battle, the company applied to the Takeovers Panel challenging IFM’s two-tiered pricing structure — $4.75 rising to $5.10 if IFM hits 45% — as legally flawed and inadequately disclosed, seeking to block despatch of the bidder’s statement.

* AVR — Anteris Technologies enrolled its first US patients in the pivotal PARADIGM trial for its DurAVR transcatheter heart valve at Montefiore Medical Center in New York, a significant step that expands recruitment capability following CMS approval.

* DUR — Duratec won a $68 million sub-contract to construct a Blast and Paint Facility at the Darwin Ship Lift, reinforcing its defence and marine sector focus with work commencing June 2026.

* AQD — AusQuest’s Cangallo copper-gold porphyry system in Peru has grown to over 1,500 metres of confirmed strike with grades topping 1% copper, and a 5,000-plus metre diamond drill program is planned for late May to test higher-grade sulphide extensions at depth.

* SKY — Sky Metals lodged a Scoping Report to kick off the formal NSW State Significant Development approval process for its Tallebung tin-tungsten-silver project, with an updated resource and Pre-Feasibility Study due this quarter incorporating over 500 drill holes.

* DAI — Decidr AI Industries raised $15 million via placement at $0.61 per share to fund its Sugarwork AI platform growth, M&A activity and sovereign compute initiatives.

* AZJ — Aurizon reaffirmed its FY2026 EBITDA guidance of $1.68–1.75 billion and dividend of 22–23 cents per share despite a temporary $10 million fuel timing headwind expected to reverse in coming periods, with ten-month volumes positive across all segments.

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