The Listed Podcast

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RRL — Regis Resources and Vault Minerals merge to create Australia’s third-largest ASX-listed gold producer targeting 700koz+ annual output

Regis Resources and Vault Minerals have agreed to a merger-of-equals via scheme of arrangement, creating Australia’s third-largest ASX-listed gold producer with a pro forma market capitalisation of approximately A$10.7 billion. Vault shareholders receive 0.6947 Regis shares per share held, leaving Regis holders with 51% and Vault holders 49% of the combined group. The merged entity will be debt-free with A$1.9 billion in cash and bullion, five operating Western Australian assets, a 20.5 million ounce resource base, annualised free cash flow of A$1.7 billion, and over A$500 million in anticipated corporate tax benefits. Jim Beyer will serve as Managing Director and CEO with Russell Clark as Non-Executive Chairman.

TLC — Lottery Corporation secures 40-year Victorian licence extension to 2068 for $1.145 billion

The Lottery Corporation has agreed to extend its Victorian Public Lottery Licence by 40 years to 30 June 2068, paying an upfront premium of $1.145 billion funded entirely by new debt facilities. The deal secures TLC’s position as exclusive Victorian lottery operator and pushes the next meaningful renewal deadline out to 2050, substantially de-risking the earnings base for a generation. From FY27, TLC is upgrading its dividend policy to pay 80–100% of NPATA, adding back roughly $44 million in annual licence amortisation — an outcome that should underpin higher and more consistent distributions for income investors.

IPT — Impact Minerals scores bonanza silver-gold discovery at Silica Hill with grades up to 20,603 g/t Ag and 27 g/t Au

Impact Minerals has intersected exceptionally high-grade silver-gold mineralisation at its Silica Hill prospect in NSW, with discovery hole CMKNI004 returning 0.5 metres of massive sulphide grading 20,603 g/t silver and 27 g/t gold at 230 metres depth — located 100 metres outside the existing mineralised envelope below a fault, confirming the system is significantly larger than previously understood. The broader intercept of 84 metres at 0.6 g/t gold and 123 g/t silver confirms a large-scale system open in all directions. JV partner Kuniko is funding the earn-in and a Phase 2 drill program kicks off in June — both IPT and KNI are stocks to watch ahead of those results.

Mid-Tier Movers

NXT — NEXTDC secured A$1.8 billion in new credit-approved senior debt commitments from a syndicate of eight major banks including ANZ, CBA, NAB, Westpac, HSBC, ING, Mizuho and MUFG, lifting total available facilities to A$8.2 billion upon financial close expected in July 2026. Pro forma liquidity hits approximately A$8.4 billion, underwriting the capital expenditure pipeline tied to recent data centre contract wins.

GMD — Genesis Minerals delivered standout drill results at Gwalia’s previously overlooked upper levels — including 8.3 metres at 43.2 g/t and 27.6 metres at 17.6 g/t gold — from areas largely unmined since the 1960s, which could deliver lower-cost ore than the deeper Heart of Gold zone. The company holds A$600 million in cash with zero bank debt, and a FY27 exploration budget increase is anticipated following current drill success.

CAE — Cannindah Resources confirmed a brand-new high-grade Southern Shoot at its Breccia copper-gold deposit in Queensland, with RC drilling returning 44 metres at 2.78% copper-equivalent from 214 metres depth — grades exceeding the existing 14.5 million tonne resource average. The shoot extends over 100 metres of strike and 200 metres vertically and remains open to the south, with the corridor potentially stretching 500 metres beyond the current resource boundary.

SX2 — Southern Cross Gold awarded PYBAR Mining Services the underground exploration decline contract at Sunday Creek in Victoria — a 680-metre primary decline with 1,200 metres of lateral development. Once complete, drilling capacity nearly doubles from 11 surface rigs to 24 concurrent rigs, a major step in accelerating one of Australia’s most watched gold-antimony development stories.

PEX — The NSW Supreme Court approved Peel Mining to hold a shareholder meeting on 15 June for Aeris Resources to acquire 100% of the company via scheme of arrangement. Before the acquisition completes, Peel will demerge subsidiary Spectre Metals, distributing its remaining Cobar Basin assets in-specie to existing shareholders. The board unanimously recommends both votes, with major shareholder Perth Capital also signalling support.

FEG — Far East Gold grew its Idenburg gold resource in Papua, Indonesia by 44% to 780,000 ounces at 3.1 g/t, driven by an upgraded Sua estimate and a maiden resource at the new North Bermol discovery. With 11 of 15 identified prospect areas still untested, the company has engaged Mining One to commence a Scoping Study — significant upside remains on the table.

Rapid Fire

* SGQ — St George Mining intersected over 100 metres of rare earth and niobium mineralisation 200 metres north of its existing Araxá resource in Brazil, confirming a major northern extension and likely resource growth, with peak grades of 5.80% TREO.

* BGD — Barton Gold produced a gravity concentrate grading over 100,000 g/t silver from its Tolmer prospect in South Australia using simple washing and panning, with a 4,000-metre RC drill program expedited to mid-May.

* EYE — Nova Eye Medical upgraded FY26 revenue guidance to US$22–23 million after back-to-back monthly US sales records in March and April, with trailing twelve-month sales up 26% year-on-year and first-ever positive EBITDA from operations recorded in Q3.

* AGE — Alligator Energy’s Samphire uranium ISR field trial hit its 70% recovery target with solution grades of 115 mg/L, beating global benchmarks and the company’s own scoping study assumptions. A second well pattern test commences shortly with results expected Q3 2026.

* ALQ — ALS Limited disclosed a cyber attack causing temporary operational disruption across parts of its global testing and inspection network. Most operations have been restored but data impact is still being investigated, with the Australian Cyber Security Centre notified.

* MGOC — Magellan is handing its MGOC active ETF to Vinva Investment Management, cutting the management fee from 1.35% to 0.89%, scrapping the performance fee, and shifting from a concentrated 20–40 stock portfolio to a 300-plus stock systematic strategy from June 2026.

* VNT — Ventia won approximately $340 million in Victorian road maintenance contracts across the Grampians and Eastern Metropolitan regions, commencing July 2026 over a four-year base term with extension options of up to four additional years.

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

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ENP — Entropy Neurodynamics reports 75% response rate in treatment-resistant IBS Phase 2a trial, far exceeding existing therapies

Entropy Neurodynamics announced breakthrough Phase 2a results for TRP-8802, its oral psilocybin candidate, in treatment-resistant IBS patients — achieving a 75% response rate compared to just 17 to 44% for currently approved therapies. The study of 12 patients was presented at Digestive Disease Week 2026 by researchers from Massachusetts General Hospital and Columbia University, lending serious academic credibility to the findings. Subtype results were particularly striking, with IBS-C patients responding at 100% and IBS-M at 80%. The results are expected to de-risk the company’s next-generation IV psilocin candidate TRP-8803 and open the door to partnering discussions in the US$60 billion IBS market.

GBR — Great Boulder acquires historic Peak Hill Gold Project from Westgold for $25M cash plus 19.9% equity stake

Great Boulder Resources has signed a binding agreement to acquire the Peak Hill Gold Project in Western Australia from Westgold Resources, paying $25 million cash and issuing shares representing 19.9% of the company, plus a 1% net smelter royalty. The project hosts a JORC resource of 481,000 ounces and has historic production exceeding 900,000 ounces, with an Ore Purchase Agreement allowing capital-light processing through Westgold’s nearby mills. To fund the deal, Great Boulder is raising $40 million via institutional placement at 8.5 cents per share, leaving approximately $25 million net cash post-completion. A non-binding Strategic Collaboration with Westgold also creates a pathway to fast-track Great Boulder’s 1 million ounce Side Well Gold Project located 25 kilometres from Westgold’s Bluebird Mill.

SRZ — Stellar Resources raises $22.1M at 3.3 cents per share to fund Heemskirk Tin Project development, anchored by $17M cornerstone investment from Metals X

Stellar Resources completed a strongly oversubscribed placement raising $22.1 million, anchored by a $17 million strategic investment from Metals X — Australia’s largest tin producer — which takes a 16.4% stake and a board seat. The additional $5.1 million tranche was significantly oversubscribed, signalling strong institutional conviction in tin as a critical mineral. The raise lifts Stellar’s pro-forma cash to $33 million to fund a Prefeasibility Study due Q3 2026 and a subsequent Definitive Feasibility Study — this has the hallmarks of a project being fast-tracked to development.

Mid-Tier Movers

BDM — Burgundy Diamond Mines revealed its subsidiary Arctic Canadian Diamond Company, which operates the Ekati Diamond Mine, has filed for CCAA insolvency protection in Canada — the Canadian equivalent of Chapter 11. The filing was triggered by the perfect storm of US tariffs on natural diamonds, weak global demand, and rising fuel costs linked to Middle East conflict. Mining is expected to continue during restructuring, but investors should watch this closely as the outcome will be critical to Burgundy’s future.

CML — Connected Minerals signed a binding deal to acquire an 80% stake in Angola’s Bailundo carbonatite complex — a seven-kilometre diameter structure returning surface grades of up to 2.1% niobium pentoxide and 7.7% total rare earth oxides, analogous to world-class Brazilian carbonatite systems. The company is raising $4.5 million to fund exploration with a new CEO who brings 12 years of in-country Angola experience.

ARN — Aldoro Resources hit what looks like world-class niobium mineralisation at its Kameelburg carbonatite in Namibia — 11 metres at 0.76% niobium pentoxide — alongside a near-surface REE and strontium bonanza of 5 metres at 2.94% total rare earth oxides. A second hole confirmed southern continuity with 74 metres of cumulative mineralisation across two stacked layers, and an updated mineral resource estimate incorporating strontium for the first time is expected in coming weeks.

LGM — Legacy Minerals released a Scoping Study for its Mt Carrington gold-silver project in NSW showing a pre-tax NPV of A$716 million and a 38% IRR over a 19-year mine life, with initial capital of just A$220.5 million. The project benefits from existing brownfield infrastructure including grid power and access roads, with the company holding $8 million cash to advance further studies.

MNC — Merino and Co. locked in a three-year exclusive distribution deal covering all of Mainland China with a minimum annual order commitment of CNY 30 million — approximately AUD 6.5 million — across e-commerce, retail and wholesale channels, including a 20% per annum minimum growth rate on renewal. The deal transitions the company from opportunistic exports to a structured, measurable revenue model.

WIN — WIN Metals reported bonanza gold grades of up to 334 g/t at its Radio Gold Project in Western Australia, with high-grade hits confirmed both inside and outside the current resource envelope. The company is targeting a final investment decision to commence operations within this financial year — these drill results couldn’t come at a better time.

Rapid Fire

* PGO — Pacgold poured its maiden gold doré bar at White Dam in South Australia — approximately 3 kilograms or 80 ounces — just five months after acquisition, officially transitioning from explorer to producer with 200,000 tonnes of ore ready for leaching imminently.

* ASN — Anson Resources upgraded its Green River Lithium JORC resource by 650% to 773,000 tonnes of lithium carbonate equivalent, driven by new drilling data across the Mississippian Unit, and is now targeting over one million tonnes LCE.

* ARL — Ardea Resources’ Kalgoorlie Nickel Project was named in a joint statement by the Australian and Japanese Prime Ministers on critical minerals cooperation — significant political and diplomatic backing for a project already supported by Sumitomo and Mitsubishi.

* CLA — Celsius Resources terminated its Executive Director after he issued an unauthorised share transfer notice without board approval. The company is now conducting an internal investigation and seeking independent legal advice.

* HAR — Haranga Resources returned high-grade gold hits at its Lincoln Project in California including 4.8 metres at 25.4 g/t gold, with a maiden JORC resource conversion expected in mid-May.

* VMT — Vmoto signed a worldwide MotoGP licensing deal to produce three co-branded electric scooter models through 2030, gaining prominent placement at European events and exposure to Liberty Media’s Formula One fanbase of 632 million.

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

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GBR — Great Boulder acquires historic Peak Hill Gold Project from Westgold for $25M cash plus 19.9% equity stake

Great Boulder Resources has signed a binding agreement to acquire the Peak Hill Gold Project in Western Australia from Westgold Resources, paying $25 million cash and issuing shares representing 19.9% of the company, plus a 1% net smelter royalty. The project hosts a JORC resource of 481,000 ounces and has historic production exceeding 900,000 ounces, with an Ore Purchase Agreement allowing capital-light processing through Westgold’s nearby mills — meaning Great Boulder can move toward near-term production without building its own processing infrastructure. To fund the deal, the company is raising $40 million via institutional placement at 8.5 cents per share, leaving approximately $25 million net cash post-completion. A non-binding Strategic Collaboration with Westgold also creates a potential pathway to fast-track Great Boulder’s 1 million ounce Side Well Gold Project located 25 kilometres from Westgold’s Bluebird Mill.

ENP — Entropy Neurodynamics reports 75% response rate in treatment-resistant IBS Phase 2a trial, far exceeding existing therapies

Entropy Neurodynamics announced breakthrough Phase 2a results for TRP-8802, its oral psilocybin candidate, in treatment-resistant IBS patients — achieving a 75% response rate compared to just 17 to 44% for currently approved therapies. The study of 12 patients was presented at Digestive Disease Week 2026 by researchers from Massachusetts General Hospital and Columbia University, lending serious academic credibility to the findings. Subtype results were particularly striking, with IBS-C patients responding at 100%. The results are expected to de-risk the company’s next-generation IV psilocin candidate TRP-8803 and open the door to partnering discussions in the US$60 billion IBS market.

BDM — Burgundy Diamond Mines’ subsidiary Ekati mine operator files for insolvency protection in Canada

Burgundy Diamond Mines’ subsidiary Arctic Canadian Diamond Company, which owns and operates the Ekati Diamond Mine, has filed for CCAA insolvency protection in Canada. The filing was driven by the perfect storm of US tariffs on natural diamonds, sustained weak global rough diamond demand, and rising fuel costs linked to Middle East conflict. Mining operations are expected to continue during the restructuring process while the company seeks financial and operational alternatives, but this is a serious situation for Burgundy shareholders and a stark reminder of how quickly commodity sector headwinds can compound.

Mid-Tier Movers

NGI — Navigator Global Investments is acquiring interests in 17 alternative asset managers from Stable Asset Management for US$195 million, adding US$15 billion in firm-level AUM and expecting low double-digit EPS accretion in year one. The deal is funded via a A$145 million underwritten entitlement offer and A$136 million in NGI scrip, with a long-term strategic partnership providing a pipeline of future opportunities and bringing total NGI partner firms to 29.

SRZ — Stellar Resources raised $22.1 million for its Heemskirk Tin Project, anchored by a $17 million strategic cornerstone investment from Metals X — Australia’s largest tin producer — which takes a 16.4% stake and a board seat. The raise was significantly oversubscribed, lifting Stellar’s pro-forma cash to $33 million ahead of a Prefeasibility Study due Q3 2026.

AX1 — Accent Group cut its H2 FY26 EBIT guidance to $23–28 million after April trading was hurt by geopolitical tensions, rising fuel prices and weakening consumer confidence, with like-for-like retail sales falling 1% and gross margins contracting 80 basis points. The company also revealed ASIC has issued notices investigating suspected insider trading in its securities between May and June 2025, involving CEO Daniel Agostinelli, a non-executive director and another senior employee — a serious governance red flag.

MM1 — Midas Minerals hit its best-ever drill result at the T-13 Copper-Silver Deposit in Namibia — 50 metres at 5.55% copper and greater than 125 g/t silver, including 16.3 metres at nearly 13% copper — against an existing inferred resource of 10.5 million tonnes at 2.0% copper equivalent. With 11 holes still pending assay and plans to expand to seven rigs, this is a rapidly developing high-grade copper story.

MNC — Merino and Co. locked in a three-year exclusive distribution deal covering all of Mainland China, with a minimum annual order commitment of CNY 30 million — approximately AUD 6.5 million — across e-commerce, retail and wholesale channels, including a 20% per annum minimum growth rate on renewal. The deal transitions the company from opportunistic exports to a structured, partner-led revenue model without requiring direct investment in local retail infrastructure.

PNI — Pinnacle Investment Management is buying an additional 6.8% stake in Metrics Credit Holdings for approximately A$100.5 million, restoring its ownership to around 35%. Simultaneously, the National Pension Service of Korea is picking up a further 6.37% at the same implied valuation — a significant endorsement of Metrics’ value from two sophisticated investors transacting at the same price.

Rapid Fire

* PGO — Pacgold poured its maiden gold doré bar at White Dam in South Australia — approximately 3 kilograms or 80 ounces — just five months after acquisition, officially transitioning from explorer to producer with 200,000 tonnes of ore ready for leaching imminently.

* IMR — Imricor Medical Systems raised A$60 million via institutional placement at A$1.85 per CDI to fund its US launch of the NorthStar cardiac mapping system and global expansion, leaving the company with approximately A$103 million in cash.

* CML — Connected Minerals is acquiring an 80% stake in Angola’s Bailundo carbonatite complex — a seven-kilometre diameter structure with grades up to 2.1% niobium and 7.7% total rare earth elements — and is raising $4.5 million to fund exploration.

* FHE — Frontier Energy’s Waroona renewable energy project was selected under the Australian Government’s Capacity Investment Scheme, securing a government-backed revenue floor until 2042 and significantly strengthening its debt financing profile with indicative senior debt terms at up to 70% gearing.

* ARL — Ardea Resources’ Kalgoorlie Nickel Project was named in a joint statement by the Prime Ministers of Australia and Japan on Critical Minerals Cooperation — strong geopolitical endorsement for the Sumitomo and Mitsubishi-backed JV hosting Australia’s largest nickel-cobalt resource.

* ALA — Arovella Therapeutics underwent a major board overhaul after a shareholder requisition, with the CEO and three directors resigning and a comprehensive review of the company’s technology platform now underway.

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

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KGL — KGL Resources delivers strong economics for Jervois copper project with A$839M post-tax NPV and 30% IRR

KGL Resources has released a Baseline Economic Model for its Jervois Copper-Silver-Gold Project in the Northern Territory, confirming a post-tax NPV of A$839 million and a 30% post-tax IRR with construction capex of A$439 million. The project has a 10-year mine life producing 276,000 tonnes of copper, 10.5 million ounces of silver and 87,000 ounces of gold, with commissioning targeted for H1 2028 and average steady-state operating cashflow of A$260 million per annum at a C1 cash cost of just US$1.65 per pound net of by-products. KGL is now moving toward a Final Investment Decision, though it has flagged additional funding is still required — watch for a capital raise announcement.

RKB — Rokeby Resources acquires high-grade Omeo Gold Project with 320koz historic resource and raises $4M to fund exploration

Rokeby Resources has entered a binding agreement to acquire the Omeo Gold Project in northeast Victoria, which hosts a historical resource of 2.4 million tonnes at 4.02 g/t gold for approximately 320,000 ounces across a 5.8 kilometre mineralised corridor. A $4 million placement has been secured to fund exploration, with the Sunnyside deposit first in line for drilling. In a signal of serious intent, Rokeby has brought in experienced mining engineer Richard Beazley as Managing Director and former Victorian Treasurer Tim Pallas as Non-Executive Chairman — a leadership combination that suggests this is more than a speculative corporate makeover.

EUR — European Lithium halted amid media speculation of potential takeover bid

European Lithium entered a trading halt effective 24 April after media speculation emerged about a potential control transaction. The company requested the halt itself, which typically signals something concrete is in the works rather than just rumour. With lithium M&A heating up globally and EUR holding a 7.5% stake in the world-class Tanbreez rare earth deposit in Greenland, investors will be watching closely for a formal announcement before Tuesday’s open.

Mid-Tier Movers

FMG — Fortescue’s board approved a US$680 million investment to develop the Pilbara Green Energy Project, a 200MW fully integrated renewable energy system with large-scale battery storage targeting third-party customers including data centres, with completion expected by 2028. This is entirely separate from Fortescue’s own decarbonisation program and marks a deliberate pivot toward selling green power commercially, with a pathway to multi-gigawatt expansion post-2030.

GNP — GenusPlus Group won a $110 million lump-sum, turn-key contract to engineer, procure, construct and commission the Koolunga Battery Energy Storage System in South Australia for Equis Development — a 200MW/800MWh system connected to the 275kV Brinkworth Substation, due for completion by September 2027. A meaningful revenue boost for the infrastructure services company.

QOR — The Qoria-Aura merger received a significant vote of confidence, with the equity placement upsized to US$100 million from US$75 million, the additional US$25 million funded by Aura’s own founder and major shareholder WndrCo. The implied placement price of A$0.40 per Qoria share represents a 32.4% premium to the 30-day VWAP, and the Qube board unanimously continues to recommend the scheme.

PAT — Patriot Resources published a JORC exploration target of 559 to 774 million ounces of silver equivalent at its Tassa project in southern Peru — built on over 20 years of data including 8,500 metres of diamond drilling across 19 mineralised zones. A 4,000 metre drill program is now being advanced to convert the target into a formal resource. If confirmed, Tassa would rank among the largest undeveloped silver systems on the planet.

CUV — CLINUVEL cleared a major regulatory hurdle with the European Medicines Agency finalising the design for its pivotal Phase III vitiligo trial of SCENESSE — a 300-patient study set to start in the second half of 2026, using T-VASI50 as the primary endpoint and prioritising darker-skinned patients. This builds on FDA approval secured in April 2025 and growing US commercial momentum.

VUL — Vulcan Energy broke ground on its Lionheart central lithium chemicals plant at Infraserv Industrial Park Höchst in Frankfurt, targeting 24,000 tonnes per annum of battery-quality lithium hydroxide monohydrate — enough for approximately 500,000 EV batteries — with a 2028 production start. The ceremony was attended by senior German government officials, backed by the €2.2 billion funding package locked in December 2025.

Rapid Fire

* SBM — St Barbara formally approved the restart of its Touquoy gold operation in Nova Scotia, with ore processing from stockpiles expected to commence by end of calendar year 2026 and two local contracts supporting nearly 200 new jobs.

* MEK — Meeka Metals is acquiring 71 square kilometres of tenements adjacent to the historic Bounty gold mine in WA — which produced 1.2 million ounces at over 5 g/t — with a 20,000 metre drill program to follow, funded from its $50 million cash balance.

* AEE — Sweden’s Geological Survey has formally proposed Aura Energy’s Häggån uranium and vanadium deposit as a national interest site, giving it legal protection from competing land uses — a significant milestone for the EU-critical minerals project ahead of a 3 June consultation deadline.

* EXR — Elixir Energy booked 662 billion cubic feet equivalent of new gas resources in Queensland’s Taroom Trough, lifting its total certified 2C resource 24% to approximately 3.5 trillion cubic feet equivalent, with more than 50% of the permit still to be drilled.

* AWJ — Auric Mining has recruited Gareth Solly — the man who built Black Cat Syndicate from a $6 million IPO into a billion-dollar gold producer — as its incoming CEO, signalling serious ambition to scale the Munda Gold Mine toward mid-tier status.

* HUM — The Takeovers Panel revised its orders in the Humm Group saga, replacing a share disposal order against major shareholder TAG with a 6-month voting restriction on 15 million shares and new disclosure obligations around the Credit Corp takeover bid. The EGM must be further adjourned pending those disclosures.

* BVR — Bellavista Resources cleared all conditions for its 70% acquisition of the Pickle Crow Gold Project in Ontario, with completion set for Tuesday 29 April alongside settlement of the second tranche of its $35 million placement.

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

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CMB — FDA greenlights single pivotal trial pathway for Cambium Bio’s Elate Ocular, cutting costs and accelerating approval timeline

Cambium Bio received FDA confirmation that its dry eye disease treatment Elate Ocular only needs a single pivotal Phase 3 trial instead of two — a significant reduction in capital required and time to potential approval. The CAMOMILE-3 trial will enrol 400 patients with First Patient In targeted for later in 2026, with rolling BLA submission enabled by existing Fast Track Designation. Cutting the clinical pathway in half is a genuine derisking event for a small ASX biotech and meaningfully improves the probability of reaching approval.

GHM — Golden Horse Minerals hits visible gold 830m north of historic Hopes Hill pit with 16m at 6.8 g/t Au

Golden Horse Minerals drilled 16 metres at 6.8 g/t gold — including a stunning 1 metre at 98.4 g/t — at Hopes Hill North, in its first diamond hole drilled into a zone that was previously inaccessible due to tenement constraints the company has since resolved through tenure consolidation. The result confirms the footwall lode extends at least 830 metres beyond prior drilling. Combined with recent high-grade results to the south and at depth, the company now believes Hopes Hill could be a significantly larger gold system than the market has priced in, across a potential 2.5 kilometre strike.

AI1 — Adisyn raises A$14M at $0.0675/share backed by Regal Funds and Israel’s Meitav following twin graphene breakthroughs

Adisyn secured A$14 million in an institutional placement cornerstoned by Regal Funds Management and Meitav — Israel’s largest investment house with approximately A$190 billion under management. The raise follows two graphene breakthroughs: forming graphene at semiconductor-compatible temperatures using an industrial ALD system targeting the ~US$1 trillion semiconductor market, and securing an exclusive worldwide licence from Tel Aviv University for graphene-based radar absorption technology targeting the US$66.5 billion military drone market. Tier-one institutional backing combined with dual technology milestones makes this one of the more compelling small-cap tech stories on the ASX this week.

Mid-Tier Movers

FRB — Firebird Metals won a $2 million non-dilutive ARENA grant to build what it claims will be the world’s first manganese-to-cathode demonstration plant in Perth, converting ore directly into finished EV battery cathode materials. The grant follows rigorous independent technical due diligence — as good a validation signal as a small-cap can get — and leaves Firebird’s IP ownership entirely intact.

ARI — Arika Resources reported exceptional RC drilling results at Yundamindra in WA, headlined by 57 metres at 1.42 g/t gold with a high-grade zone hitting 35.96 g/t within the F1 and Landed at Last structures. With assays still pending for 75 holes totalling around 10,000 metres, the news flow from this project is far from over as the company works toward a maiden Mineral Resource Estimate.

ARN — Aldoro Resources achieved 98.96% strontium extraction at its Kameelburg Project in Namibia using a simple ambient-temperature hydrochloric acid leach — considered among the best extraction results ever reported globally for any strontium ore system. The timing is notable: strontium carbonate prices have surged roughly 150% to US$3,150 per tonne, and the ore also hosts rare earth elements, giving Aldoro a potential dual-commodity angle.

DRE — Dreadnought Resources received Mine Development and Closure Proposal approval for open pit mining at its Star of Mangaroon gold project in WA’s Gascoyne region. The strategy is smart for a small explorer — outsourcing funding, haulage and processing to third parties including JV partner Black Cat, allowing Dreadnought to generate internal cash flow without constantly hitting the market for capital.

MCP — McPherson’s withdrew its FY26 EBITDA growth guidance, citing weaker-than-expected sales and additional supplier surcharges tied to macroeconomic pressures. The company maintains a net cash position and will continue its share buy-back, but the guidance scrapping will likely weigh on the stock.

FGR — First Graphene completed a world-first production trial with UK’s largest precast concrete manufacturer FP McCann, producing over 10,000 graphene-enhanced cement roof tiles and demonstrating up to 14% carbon emission reduction and 8% less cement required — opening a pathway into a global market projected to reach US$11.8 billion by 2034.

Rapid Fire

* CVR — Cavalier Resources raised $4 million at $0.30 per share to fund pre-production works at its Crawford Gold Project, including long-lead equipment and haul road construction, while separately negotiating a US$13 million pre-payment facility with Raptor Capital.

* SQX — SQX Resources completed a 25-hole maiden drill program at Red Bird Gold in Arizona, confirming a larger-than-expected system with intercepts including 22.9 metres at 2.8 g/t gold. Mineralisation remains open along strike and at depth.

* ADG — Adelong Gold confirmed high-grade gold at Comet — 9.8 metres at 2.76 g/t — and made its first-ever antimony discovery at New Trojan in Victoria, drawing comparisons to the Fosterville style of mineralisation.

* KLI — Killi Resources is in a trading halt pending both exploration results and a potential acquisition announcement — a dual catalyst worth watching when trading resumes Tuesday 28 April.

* SBR — Sabre Resources halted trading ahead of an acquisition and capital raising announcement. Details expected before Monday’s open.

* WNX — Wellnex Life failed to repay $2.88 million in director loans by its April deadline, paying $150,000 to extend to July — a red flag on liquidity management for this consumer health company.

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

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QUB — Qube Holdings shareholders to vote on $5.20 per share takeover scheme after court approval and unanimous board recommendation

Qube Holdings has received Supreme Court of NSW approval to convene shareholder meetings to vote on a proposed scheme of arrangement under which a consortium comprising MAM, UniSuper and Pontegadea will acquire 100% of Qube shares at $5.20 cash per share. Independent expert Grant Samuel has concluded the scheme is fair and reasonable, valuing Qube on a controlling interest basis at $4.93 to $5.41 — placing the $5.20 offer squarely in the fairway. The Qube board unanimously recommends shareholders vote in favour. This is one of Australia’s largest logistics companies changing hands and the deal looks likely to get over the line.

NXL — Federal Court dismisses ASIC’s continuous disclosure and misleading conduct case against Nuix and its former directors

The Federal Court of Australia has dismissed all enforcement proceedings brought by ASIC against Nuix and its then-directors relating to alleged continuous disclosure breaches and misleading conduct in early 2021. This is a complete win for Nuix, removing a regulatory overhang that has weighed on the stock since its controversial IPO period. The market will be watching closely when shares resume trading. One important caveat: ASIC retains the right to appeal, so this may not be the final chapter — but today’s ruling is unambiguously positive for Nuix shareholders.

OMA — Omega Oil & Gas raises A$60M at $0.84/share to fund upgraded Taroom Trough horizontal drilling program

Omega Oil and Gas secured A$60 million through a heavily oversubscribed institutional placement — it initially targeted $50 million but demand blew well past that, a strong signal of institutional conviction. Proceeds will fund four vertical wells and one to two full-scale 2,000-metre horizontal wells with stimulation and six-month flow testing in Queensland’s Taroom Trough, with drilling commencing in June 2026. The Taroom Trough has also recently been designated a Queensland Government Prescribed Project to streamline approvals — this is shaping up as one of the most closely watched onshore oil and gas plays on the ASX right now.

Mid-Tier Movers

RML — Resolution Minerals raised $20 million at a 6.3% premium to its 20-day VWAP — unusual and a strong signal of institutional demand — cornerstoned by Tribeca Investment Partners and L1 Capital. Funds target the Horse Heaven antimony, tungsten and gold project in the US, which carries White House FAST-41 strategic status, with a NASDAQ listing imminent. Critical minerals with US government backing are attracting serious money right now.

FRB — Firebird Metals scored a $2 million non-dilutive ARENA grant to build what it claims will be the world’s first manganese-to-cathode demonstration plant in Perth, converting ore directly into finished EV battery cathode materials. Non-dilutive government funding following independent technical due diligence is as good a validation signal as a small-cap can get — and it leaves Firebird’s IP entirely intact.

NMG — New Murchison Gold drilled 3.2 metres at 48.9 g/t gold from 330 metres depth at Crown Prince — the deepest ore-grade hit ever recorded at the site and sitting outside the current resource envelope, 190 metres below the designed pit base. Additional RC holes returned 13 metres at 13.3 g/t and 8 metres at 12.3 g/t, building a compelling underground mining case. Management says an ore reserves update incorporating underground plans is coming shortly — that could be a meaningful re-rating catalyst.

CMB — Cambium Bio received FDA confirmation that its dry eye disease treatment Elate Ocular only needs a single pivotal Phase 3 trial instead of two — a significant reduction in capital required and time to potential approval. The trial will enrol 400 patients with First Patient In targeted for later in 2026, with rolling BLA submission enabled by existing Fast Track Designation. Cutting the clinical pathway in half is a genuine derisking event for this small biotech.

ASM — Australian Strategic Materials has cleared the FIRB hurdle for Energy Fuels’ proposed acquisition of up to 100% of ASM via dual schemes covering ordinary shares and quoted options. With FIRB now ticked off, the remaining conditions are shareholder approval and Federal Court sign-off. The Scheme Booklet is expected in May with implementation targeted for early July 2026 — a critical minerals deal with strong strategic logic given US appetite for non-Chinese rare earth supply.

GHM — Golden Horse Minerals drilled 16 metres at 6.8 g/t gold in its first diamond hole north of the historic Hopes Hill pit — including 1 metre at 98.4 g/t — extending the footwall lode at least 830 metres beyond prior drilling into an area previously inaccessible due to tenement constraints. The company now believes Hopes Hill could be a significantly larger system across a 2.5 kilometre strike. High-grade visible gold in a first-ever hole into a previously untestable zone is exactly the kind of moment junior gold explorers live for.

Rapid Fire

* NXL — Nuix halted trading ahead of this morning’s Federal Court judgment in ASIC’s enforcement case — the outcome was a full dismissal in favour of Nuix, covered in the headline segment above.

* AI1 — Adisyn raised $14 million backed by Regal Funds and Israel’s Meitav following graphene breakthroughs, including a worldwide licence from Tel Aviv University for radar absorption technology targeting the stealth drone market.

* XRF — XRF Scientific is acquiring Bruker’s Combustion Gas Analysis business for up to USD $5 million. The target generated USD $5.3 million in 2025 revenue and diversifies XRF beyond mining into nuclear energy and steel production, with production transferring to Perth by Q3 2026.

* ALD — Ampol has sweetened its remedy offer to the ACCC to 41 fuel site divestitures — up from 37 — to secure clearance for its EG Australia acquisition ahead of a 5 June ACCC determination deadline.

* DRE — Dreadnought Resources received mining approval for its Star of Mangaroon open pit gold project in WA, a key step in its strategy to become self-funding through third-party processing partnerships with JV partner Black Cat.

* MCP — McPherson’s has scrapped its FY26 EBITDA growth guidance due to weaker-than-expected sales and rising supplier surcharges — a warning sign for investors in the consumer goods space.

* TOK — Tolu Minerals raised AUD $23.75 million via convertible notes with Petrosea and secured 600,000 litres of diesel to shore up fuel security at its Tolukuma Gold Mine in PNG, with drilling results from multiple vein programs expected in Q2.

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

Top Stories

NXT — NEXTDC raises ~A$1.0 billion via institutional entitlement offer at $12.70 per share with 98% take-up rate

NEXTDC successfully completed the institutional component of its 1-for-5.4 pro-rata accelerated non-renounceable entitlement offer, raising approximately A$1.0 billion at A$12.70 per share with near-total shareholder support. The 98% take-up rate is a striking endorsement of institutional conviction in NEXTDC’s growth story — this is one of the largest raises on the ASX this year. A further ~A$0.5 billion retail offer opens 27 April and closes 11 May, with a Top Up Facility allowing eligible retail shareholders to apply for up to 100% additional shares. Proceeds back NEXTDC’s record 544MW pro forma Forward Order Book and its broader A$2.2 billion capital plan, alongside a separate A$1.0 billion Hybrid Securities Offer.

BCM — Brazilian Critical Minerals’ Ema project joins world’s largest rare earth deposits with 1.07 billion tonne resource

BCM has updated its Mineral Resource Estimate for the Ema ionic clay rare earth project in Brazil, now totalling 1.07 billion tonnes at 732 ppm TREO — catapulting it into the ranks of the world’s largest ionic clay REE deposits. The high-confidence Indicated Resource surged 58% to 392Mt at 773 ppm TREO, a major de-risking milestone as the Bankable Feasibility Study is already approximately 80% complete. Ema is positioned as the only known ISR-ready rare earth project in the Western world, meaning low-cost in-situ recovery — a critical advantage as governments scramble to build rare earth supply chains outside China.

ALD — Ampol delivers strong Q1 2026 with LRM surging to US$25.45/bbl amid Middle East conflict supply disruption

Ampol reported a strong first quarter for 2026, with the Lytton Refiner Margin jumping to US$25.45 per barrel — up from just US$6.07 in Q1 2025 — driven by elevated global refining margins following supply disruptions linked to Middle East conflict and its impact on Strait of Hormuz shipping. Australian fuel sales rose 4.7% and refinery production climbed 10% year-on-year, with Ampol deferring planned maintenance to prioritise domestic fuel security. The result is a dramatic earnings tailwind for Ampol shareholders — but also a reminder of how geopolitical shocks flow directly into the fuel prices every Australian pays at the pump.

Mid-Tier Movers

ENR — Encounter Resources grew its Aileron niobium resource by 54% to 120Mt at 0.77% Nb2O5 in Western Australia, including a high-grade core of 26Mt at 1.7% Nb2O5, cementing it as a world-class undeveloped niobium deposit. Pre-development studies are now accelerating with infill drilling commencing May 2026 — niobium’s role in high-strength steel and battery technology makes this one worth watching.

MEI — Meteoric Resources raised $40 million via a placement at $0.17 per share — zero discount to the last close — with the raise significantly oversubscribed. Funds advance the Definitive Feasibility Study and environmental licensing at its Caldeira ionic clay rare earth project in Brazil, leaving Meteoric with a pro-forma cash balance of roughly $58 million heading into a Final Investment Decision.

SX2 — Southern Cross Gold hit 1.6 metres at 55.3 g/t gold and 1.9% antimony at the Golden Dyke prospect within its Sunday Creek project in Victoria, with gold equivalent grades reaching nearly 60 g/t. The deposit is expanding in multiple directions beyond the existing exploration target and the company has now deployed an eleventh drill rig — dual gold and critical minerals antimony exposure is a compelling combination right now.

WAU — WA Gold’s scoping study for the Abercromby Gold Project delivered pre-tax net cashflow of up to A$297 million and an extraordinary 526% IRR from just A$8 million in upfront capital — a 33-times return on investment. The study used a conservative A$6,000 per ounce gold price versus current spot of around A$6,700, meaning real-world economics are even better than the headline numbers suggest.

HAS — Hastings Technology Metals unveiled the flowsheet for its Kabin Buri hydromet plant in Thailand, targeting first Mixed Rare Earth Chloride production in Q4 2026 with projected Year 1 revenue of US$53.4 million and pretax profit of US$21.6 million. The plant scales to 12,000 tonnes per annum from Year 2, making this one of the more imminent rare earth revenue stories on the ASX.

G6M — Group 6 Metals signed a binding $110–120 million three-year underground mining contract with HMR Drilling Services for its Dolphin Tungsten Mine on King Island, Tasmania. Commencement is expected within 60 days, with fixed pricing through to June 2027 — a key de-risking milestone moving Dolphin firmly toward sustained production.

Rapid Fire

* RRL — Regis Resources grew Group Ore Reserves to 2.0Moz — the sixth consecutive year of underground reserve growth exceeding depletion — with Garden Well Underground surging 120% to 474,000 ounces after depletion.

* WCE — West Coast Silver announced an inaugural 2.8 million ounce silver resource at Elizabeth Hill in WA at a standout grade of 617 g/t, confirming it as one of Australia’s highest-grade silver projects, with mineralisation open along strike and at depth.

* KNI — Kuniko’s maiden drilling at Commonwealth-Silica Hill in NSW hit 3.8 metres at 6.5 g/t gold, 385 g/t silver and 11.5% zinc in massive sulphide mineralisation. Assays from four remaining Phase I holes are pending imminently.

* SYR — Syrah Resources completed its A$104 million equity raising with AustralianSuper set to hold a ~49.6% stake, funding the Vidalia AAM facility ramp-up and Balama graphite operations.

* EBO — EBOS Group cut its FY26 EBITDA guidance to $610–620 million — down from as high as $635 million — blaming surging fuel and energy costs hitting its Symbion healthcare distribution network, with no clarity from Government on cost recovery timing.

* BPP — Babylon Pump and Power is suspended from trading in advanced negotiations for a transformative acquisition of a water pumping and storage business, contingent on a substantial capital raise. Watch for an announcement by 27 April.

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

A Japanese mining giant hands a small ASX explorer a free ride on a US$20 million copper project. A micro cap picks up 93,000 hectares of Brazilian lithium ground from Rio Tinto for half a million dollars. And a tiny gold producer in regional NSW just shipped its first concentrate without spending a dollar on new mining. This is the end of the market where deals get done quietly — and today was busy.

HEADLINE STORIES

Eagle Mountain Mining (EM2) — Free-carried 20% stake in US copper project backed by Japanese major Eagle Mountain has signed binding JV agreements with Tokyo-listed Nittetsu Mining over its Oracle Ridge copper project in Arizona. Nittetsu takes 80% and commits US$20 million over four years covering exploration, environmental permits and feasibility work. Eagle Mountain keeps a 20% stake fully free-carried to US$20 million of project expenditure — zero capital calls, zero dilution risk, while a major Japanese mining house does the heavy lifting. An initial US$3.5 million payment clears existing debts and exercises the mine purchase option, giving Eagle Mountain a clean balance sheet essentially overnight.

Riedel Resources (RIE) — 1,000 square kilometres of WA gold ground in one deal Riedel has executed a binding agreement to acquire majority control of two belt-scale gold projects in WA’s Laverton Gold District — the 580km² Cosmo project and the 420km² Mt Venn project — sitting near major deposits including Gruyere (9.1Moz) and Duketon (7.4Moz). The deal is backed by a concurrent A$2.5 million placement, leaving a pro-forma cash position of around A$4 million. Vendor Sarama Resources will hold approximately 32% of Riedel post-transaction. Riedel goes from single asset to three-project, two-jurisdiction gold company overnight. Drilling at Cosmo is pencilled in for July 2026.

Sunstone Metals (STM) — US$0.9 billion NPV scoping study for Ecuador gold-copper project Sunstone has completed a scoping study for its 87.5%-owned Bramaderos Gold-Copper Project in Ecuador, delivering a post-tax NPV of US$0.9 billion at a conservative US$3,500 per ounce gold price — rising to US$1.9 billion at current spot around US$5,000. The project envisions a 23-year open pit mine producing 135,000 ounces of gold equivalent per year for the first eight years at an AISC of US$1,499 per ounce. Capital requirement is approximately US$525 million. Pre-feasibility study is next, alongside ongoing exploration to grow the 3.6 million ounce resource base.

MID-TIER

Xpedra Resources (XPD) — Binding agreement to acquire the Neeld Gold Project near West Wyalong NSW — a historically high-grade asset that produced around 439,000 ounces at an exceptional 41 g/t between 1894 and 1915. Only four holes have ever been drilled below 200 metres, all hitting gold, leaving the depth and strike extensions almost entirely untested in the Lachlan Fold Belt.

Aldoro Resources (ARN) — Latest drill hole at Kameelburg in Namibia returned 354.2 metres of continuous rare earth, strontium, niobium and molybdenum mineralisation — ending in-hole and still open at depth. Top intercept of 57 metres at 1.85% TREO from surface. Updated resource estimate incorporating all Phase II results due within two weeks.

Anson Resources (ASN) — Submitted its final major permit application to the Utah Government for its 10,000 tonne per annum Green River Lithium Carbonate Plant. With brine extraction and waste disposal permits already in hand, this SMO approval is the last regulatory gate before construction. Approval expected within 90 days.

Solis Minerals (SLM) — Acquired a 93,000-hectare district-scale lithium project in Brazil’s Araçuaí Lithium Valley from a Rio Tinto subsidiary for just US$500,000 plus a 1.75% royalty. The project sits adjacent to PLS Group’s Colina Lithium Project. Two priority drill targets already identified. Company is fully funded for initial drilling.

Great Divide Mining (GDM) — Hit commercial gold production at its Challenger Mine in Adelong NSW, processing historic tailings and targeting gold concentrate grades of 30 g/t. First shipment to a refiner expected within days. No large-scale capex required — a lean path to cash flow for a small producer.

Invictus Energy (IVZ) — Raised $10 million via placement at $0.06 per share to fund the Musuma-1 exploration well in Zimbabwe, targeting 1.2 trillion cubic feet of gas and 73 million barrels of condensate. Seismic data shows a classic flat spot indicative of a gas-water contact. Drilling planned for the second half of 2026.

RAPID FIRE

* Sarama Resources (SRR) — Monetising WA gold assets via the Riedel deal while retaining a ~32% stake for exploration upside. US$242 million ICSID arbitration hearing against Burkina Faso confirmed for February 2027 — a potentially enormous catalyst to keep on the radar.

* Helix Resources (HLX) — General meeting called for 25 May to vote on a 35-for-1 share consolidation, capital raise, and apparent acquisition of Centric assets. Company reshaping itself.

* MCS Services (MSG) — Trading halt pending shareholder vote on disposal of its main business. Fundamental corporate change that could reshape the company entirely.

* Invion (IVX) — NMSC trial expanded to basal cell carcinoma patients — representing 80% of all skin cancers — after a second SCC cohort showed statistically significant lesion reductions and no adverse effects.

* Ardiden (ADV) — Standout 6-metre intersection at 20.78 g/t gold within a broader 29-metre zone at 4.96 g/t at its Rouyn Gold Project in Canada’s Abitibi region. Only 47% of the planned drill program reported so far.

* Cooper Metals (CPM) — Asset swap with AIC Mines delivers the Pyramid Gold Project in Queensland’s Drummond Basin, with historical hits of 35 metres at 6.1 g/t gold and an 8-kilometre largely undrilled fault corridor. Backed by a ~$980,000 placement.

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

A major REIT leaves the ASX for good. A Japanese mining giant backs an Arizona copper project with US$20 million. A gold-copper scoping study drops with a US$0.9 billion NPV. And somewhere in Zimbabwe, a company is about to drill for 1.2 trillion cubic feet of gas. Not a quiet day.

HEADLINE STORIES

National Storage REIT (NSR) — Brookfield and GIC takeover becomes legally effective The Supreme Court of NSW has approved the schemes of arrangement allowing a Brookfield and GIC consortium to acquire all stapled securities in National Storage REIT. Trading in NSR suspended from close of trade today. Securityholders will be paid out on 8 May 2026 following a 29 April record date — marking the end of one of Australia’s largest listed storage operators as a public company. The deal underscores continued institutional appetite for Australian real assets.

Eagle Mountain Mining (EM2) — Binding JV with Japan’s Nittetsu Mining for Oracle Ridge copper project Eagle Mountain has signed binding agreements with Tokyo-listed Nittetsu Mining to form a joint venture over its Oracle Ridge copper project in Arizona. Nittetsu takes 80%, Eagle Mountain retains a free-carried 20% stake. Nittetsu commits US$20 million over four years covering exploration, environmental permits and feasibility work, with an initial US$3.5 million payment to clear existing debts and exercise the mine purchase option. The free-carried structure is the key win — zero capital calls for Eagle Mountain up to US$20 million of project spend.

Sunstone Metals (STM) — Bramaderos scoping study delivers US$0.9 billion NPV Sunstone Metals has completed a scoping study for its Bramaderos Gold-Copper Project in Ecuador, outlining a 23-year open pit mine producing approximately 135,000 ounces of gold equivalent per year in its first eight years at an AISC of US$1,499 per ounce. Base case post-tax NPV sits at US$0.9 billion at US$3,500 per ounce gold — rising to US$1.9 billion at current spot prices around US$5,000. Capital requirement is approximately US$525 million, with a pre-feasibility study the next step.

MID-TIER

West African Resources (WAF) — The Burkina Faso government has formally decreed that state mining entity SOPAMIB will acquire a 25% stake in WAF’s Kiaka Gold Operations for approximately A$175 million. WAF intends to return the full proceeds to shareholders via a special dividend, targeted by end of calendar 2026. Sanbrado and Toega operations are unaffected. The company also flagged a record high cash position in its upcoming quarterly.

Mineral Resources (MIN) — MinRes has priced US$1.3 billion in senior unsecured notes across two tranches to refinance existing higher-cost debt. The transaction cuts the weighted average cost of debt from 8.4% to 7.4%, saving approximately A$48 million annually, while extending the debt maturity profile from 3.1 to 5.0 years.

Astral Resources (AAR) — Updated JORC resource at Mandilla Gold Project grows 22% to 1.74 million ounces at 1.0 g/t, including a maiden measured resource at the flagship Theia deposit. Group resources across three projects now sit at 2.07 million ounces. With gold prices roughly double PFS assumptions, the company is evaluating an underground mining option at Theia in its DFS.

Starpharma (SPL) — Received positive FDA feedback on its DEP HER2 radioligand therapy trial design, with the agency acknowledging significant unmet medical need and flagging potential Fast Track designation pathways. First-in-human European study of up to 15 patients remains on track for the second half of 2026, with site selection complete.

Xpedra Resources (XPD) — Binding agreement to acquire the Neeld Gold Project near West Wyalong NSW — a historically high-grade asset that produced around 439,000 ounces at an exceptional 41 g/t between 1894 and 1915. Only four holes have ever been drilled below 200 metres, all hitting gold. Pairs with Xpedra’s Springfield drilling program already underway.

Invictus Energy (IVZ) — Raised $10 million via placement at $0.06 per share to fund the Musuma-1 well in Zimbabwe, targeting 1.2 trillion cubic feet of gas and 73 million barrels of condensate. Seismic data shows a classic flat spot — a direct hydrocarbon indicator suggesting a gas-water contact. Drilling planned for the second half of 2026.

RAPID FIRE

* Peninsula Energy (PEN) — Voluntarily suspended from ASX trading pending an urgent Supreme Court of WA hearing on whether shares issued in February and subsequently sold without required disclosure are invalid. Court sits today.

* Ora Banda Mining (OBM) — Infill drilling at Golden Pole returned high-grade hits including 3 metres at 44 g/t gold. Updated resource and maiden underground reserve estimate due in the June quarter, potentially establishing Waihi as Ora Banda’s third underground mine.

* Aldoro Resources (ARN) — Latest drill hole at Kameelburg in Namibia returned 354 metres of continuous rare earth, strontium, niobium and molybdenum mineralisation ending in-hole. Updated resource estimate due within two weeks.

* Riedel Resources (RIE) — Acquiring approximately 1,000 square kilometres of gold exploration ground in WA’s Laverton district, backed by a $2.5 million placement. Drilling at Cosmo anticipated to commence July 2026.

* Solis Minerals (SLM) — Picked up a 93,000-hectare lithium project in Brazil’s Araçuaí Lithium Valley from a Rio Tinto subsidiary for just US$500,000, with two priority drill targets already identified.

* Great Divide Mining (GDM) — Hit commercial gold production at its Challenger Mine in NSW, processing historic tailings targeting 30 g/t concentrate grades. First shipment to a refiner expected within days.

* Anson Resources (ASN) — Lodged its final major permit application for a 10,000 tonne per annum lithium carbonate plant in Utah. Approval expected within 90 days, clearing the regulatory path for construction and financing.

* Global Lithium Resources (GL1) — Trading halt pending a strategic investment and divestment announcement. Details expected by 23 April.

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

Top Stories

NXT — NEXTDC launches A$2.2bn capital plan backed by record 667MW contracted utilisation after 250MW AI-driven contract wins

NEXTDC has announced a 250MW surge in contracted utilisation at its S4 data centre in Western Sydney, lifting pro forma contracted utilisation 60% to 667MW since December 2025, driven by accelerating AI infrastructure demand. The company is launching a fully underwritten 1-for-5.4 pro-rata accelerated non-renounceable entitlement offer as part of a broader A$2.2bn capital plan, with approximately A$1.5bn to be invested through to end of FY27. The pro forma Forward Order Book rose 83% to 544MW, expected to generate contracted EBITDA in excess of A$1.0bn — more than four times the midpoint of FY26 EBITDA guidance of A$235m. La Caisse de dépôt is committing A$1.7bn to the hybrid instrument alone, underlining the scale of institutional conviction behind this raise.

PLY — PlaySide’s MOUSE: P.I. For Hire launches to 360,000 units sold and US$10.4M gross sales in opening weekend

PlaySide Studios has reported a highly successful global launch of its original IP game MOUSE: P.I. For Hire across Steam, PS5, Xbox Series X|S, and Nintendo Switch 2, selling an estimated 360,000 units and generating approximately US$10.4M in gross sales within the first few days. The title reached number two on Steam’s global best-selling paid chart on launch day and achieved an Overwhelmingly Positive 95% rating on Steam alongside an OpenCritic score of 83, placing it in the 90th percentile of all reviewed titles. Net revenue to PlaySide after platform fees is estimated at US$6.3M. This is a significant validation of PlaySide’s pivot from work-for-hire to self-published original IP — a commercial and critical double that doesn’t happen often.

LDX — Lumos Diagnostics scores FDA CLIA waiver for FebriDx, unlocking 80M patient US market and US$5.5M in milestone payments

Lumos Diagnostics received US FDA 510(k) clearance with CLIA waiver for its FebriDx rapid diagnostic test, expanding its US addressable market 15-fold to over 80 million patients annually across 300,000+ locations. The clearance triggered US$5.0M and US$0.5M milestone payments from PHASE Scientific and BARDA respectively, materially strengthening the balance sheet alongside a completed A$20M placement. Quarterly product revenue surged 243% on the prior corresponding period, so this is not just a regulatory story — there is already real commercial momentum that the CLIA waiver should now accelerate. WellStreet Urgent Care is expanding the FebriDx program from one site to 44 locations, with a potential rollout across its remaining 119 urgent care sites over the next six to twelve months.

NAB — NAB takes $706M credit charge and $1.35bn software write-down, launches discounted DRP to raise up to $1.8bn

National Australia Bank has announced significant balance sheet adjustments ahead of its first half 2026 results, including a $706M credit impairment charge driven by Middle East conflict risks and a $1.347bn pre-tax accelerated software amortisation charge to be reported as a Large Notable Item. To strengthen its capital position, NAB will apply a 1.5% discount to its dividend reinvestment plan and partially underwrite it, expected to raise up to $1.8bn and add up to 40 basis points to its CET1 ratio. Management says the pro forma CET1 will remain above 12%, but the scale of the charges signals meaningful macro headwinds in NAB’s book — and the discounted DRP will be dilutive for shareholders who don’t participate. Full half-year results are due 4 May 2026.

Mid-Tier Movers

PEX — Peel Mining has entered a binding Scheme of Arrangement with Aeris Resources covering its South Cobar Copper Project, while simultaneously demerging its remaining precious and base metal assets — including the high-grade Southern Nights Complex (10.0Mt at 8.2% ZnEq) — into a new ASX-listed company called Spectre Metals via in-specie distribution. Existing Peel shareholders get both a stake in the enlarged Aeris group and continued exploration upside through Spectre. Strong infill drilling results, including 24m at 138g/t Ag from 141m, underscore the quality of assets heading into the new vehicle.

4DX — 4DMedical has delivered a remarkable cluster of milestones in a single announcement: a commercial contract with GlaxoSmithKline for lung imaging analytics commencing 1 May 2026, UKCA certification in the UK, Health Canada clearance for its coronary calcium product, a new US Medicare reimbursement code worth US$15.50 per AI-enabled study, and inclusion in the S&P/ASX 200 Index effective today. ASX 200 inclusion alone will force index-tracking funds to buy the stock. This is a biotech story that has moved well beyond early-stage.

L1G — L1 Group has successfully completed the IPO of L1 Gold Fund Limited (ASX: LGF), raising $950M with trading expected to commence on 24 April. The closure of the predecessor L1 Wholesale Gold Fund generated a roughly $79M performance fee and a $13M one-off gain for L1G. With a 1% management fee and 20% performance fee on a $950M base, the earnings tailwind for L1G shareholders is substantial.

WOR — Worley has issued a profit warning, saying the Middle East conflict is causing project delays that will cut FY26 underlying EBITA by $30–40M, making it unlikely the company achieves EBITA growth this year on a constant currency basis. EBITA margin guidance of 9.0–9.5% is maintained and revenue growth is still expected, but this is a meaningful downgrade — and Qube flagged a similar headwind today, suggesting sector-wide exposure to the conflict’s ripple effects.

VEA — A fire in the Alkylation Unit at Viva Energy’s Geelong Refinery on 15 April has cut petrol output to approximately 60% of capacity and diesel and jet fuel to around 80%. No staff were injured and the company says customer supply is unaffected short-term, with production expected to be restored above 90% within a few weeks. Insurance covers property damage and business interruption — but with Australian fuel security already a hot-button political topic, this outage will attract close scrutiny.

MPK — Many Peaks Minerals has defined a maiden 1.323 million ounce gold resource at its Ferké project in Côte d’Ivoire at a discovery cost of just A$11.25 per ounce — exceptionally low by industry standards — with 83% of the resource in the high-confidence Measured and Indicated categories. A Pre-Feasibility Study is targeted for Q4 2026 and ongoing drilling is chasing extensions across a 37-kilometre gold corridor, so this resource could grow materially before any development decision.

MAY — Melbana Energy is set to regain 100% ownership of its Cuban Block 9 PSC after partner Sonangol defaulted on US$23.5M in cash calls and failed to remedy the breach — a significant ownership uplift achieved without paying a cent. New seismic data has clarified why the Amistad-2 well missed its target, and Amistad-1 is already producing around 20 barrels per day unassisted against a previously tested stabilised flow rate of 1,235 bopd.

VHM — VHM has terminated its offtake agreement with China’s Shenghe Resources to pursue Western-aligned buyers, and simultaneously upgraded its Goschen rare earths project to full permitted capacity of 5 million tonnes per annum from day one — scrapping the slower staged ramp. With all major regulatory approvals in hand, a Final Investment Decision targeted for mid-2026, and binding offtake deals expected in Q2 ahead of FID, VHM is compressing its timeline to production at a moment when Western rare earth supply is a geopolitical priority.

Rapid Fire

* MCE — Matrix Composites has agreed to a $0.40 per share all-cash takeover by Advanced Innergy Holdings — a 66.7% premium to its undisturbed price — with the Matrix board unanimously recommending shareholders vote in favour ahead of an expected July 2026 implementation.

* VUL — Vulcan Energy has signed a roughly €40M automation deal with Siemens AG, the final major supply agreement for its Lionheart lithium project in Germany, with construction already underway and a €2.2bn financing package secured.

* BGD — Barton Gold has hit bonanza gold grades at its Challenger open pit in South Australia — including 1 metre at 170.7 grams per tonne — from previously unmodelled mineralisation that could provide high-grade feed for a planned mill restart.

* NMR — Native Mineral Resources’ diamond drilling at Blackjack Mine in Queensland returned a best hit of 5.45 metres at 14.23 grams per tonne gold, including 0.62 metres at 98.93 grams per tonne — the highest grade ever recorded at the project — with mining and milling already underway.

* CAV — Carnavale Resources confirmed bonanza grades up to 53.8 grams per tonne gold at its Kookynie project with tight infill drilling, keeping a Bankable Feasibility Study on track for early Q3 2026.

* SRJ — SRJ Technologies’ UAE robotics subsidiary has won a US$4.4M three-year contract for robotic leak detection at a government-owned UAE oil and gas operator, with a two-year extension option providing potential for long-term recurring revenue.

* LM1 — Leeuwin Metals has been granted its mining lease at the Evanston deposit, meaning all 342,300 ounces across its Marda Gold Project now sit on granted mining leases — a key de-risking milestone clearing the path to development planning.

* EUR — The Greenland government has approved Critical Metals Corp taking full control of the Tanbreez rare earth mine — described as one of the world’s largest rare earth deposits — with European Lithium retaining a 7.5% minority stake.

* MVF — The Monash IVF board has unanimously rejected a revised $0.90 per share takeover approach from a Genesis Capital and Soul Patts consortium, calling it a substantial discount to comparable Australian IVF deal multiples. The door remains open to a higher bid.

* QUB — Qube Holdings has flagged a $13–25M FY26 earnings hit from Middle East conflict fuel costs and severe weather disruptions to agri and forestry exports, though it still expects underlying earnings growth for the year.

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