Gold M&A Gold M&A is starting to kick off, after the number of deals in recent quarters has been lack lustre. South African based Gold Fields announced it has agreed to acquire Osisko Mining in a US$1.57b all-cash deal. Remember that Gold Fields already had a 50:50 JV with Osisko

$STX #ASX Strike Energy has secured capacity from AEMO for its proposed 85 MW gas peaking plant at South Erregulla for 2026, marking a crucial milestone. Next steps include reserve capacity pricing in October 2024 and network access quantity from Western Power, with an FID

$NWH #ASX NRW have reported this morning, guiding 2025 $205m – $215m, above consensus. Tendering increased to $5.5bn (from $2.6bn), demonstrating strong conversion of the $16.4bn pipeline into short term opportunities. NRW is guiding $3.1bn of revenue with $2.9bn of work already

$PLS #ASX PLS have announced an all scrip takeover of Brazilian spodumene developer, Latin Resources (LRS), in a deal worth A$560m. LRS’ Salinas mineral resource is 77.7Mt @ 1.24% lithium for 2.3Mt LCE, and the Company is undertaking a DFS on the Project which has an expected

$PMT #ASX PMT has underpinned (CV5 + CV13) position as the largest spodumene hosted lithium deposit in North America by upgrading its Shaakichiuwaanaan Lithium Project (previously Corvette) resource with the inclusion of CV13 but also expanding its flagship CV5 deposit. The

$SXE #ASX Reported EBITDA of $40.1m a beat on expectations (EHe $38.1m) with NPAT of $21.9m up 9.1% on prior year. Cash balance is now $84.1m, for net cash $76m. FY25 guided EBITDA of at least $53m was generally in line with consensus (~$53.4m) while expectations are for further

$CWP #ASX NPAT $40.5m above guidance and 28% up on pcp, with a fully franked final dividend of 17c, translating to 25c for the full year. The stock continues to trade under its book value NTA, at $5.55. Presales were $559m, up 25% on pcp and sold into process that generate better

$LYL #ASX Reported in line with guidance, delivering $345m revenue and NPAT of $50.7m a marginal beat to $46-50m guidance range. The Company posted a 77c full year fully franked dividend, translating to a 6% yield and c60% payout ratio. Looking forward, long term demand for

$IMD #ASX Numbers were in line with expectations, generating EBITDA $130.7m (EHe $130.2), demonstrating resilience in a tough environment. Cash conversion was good, net debt improved ($35m vs $64m in December), and, in a macro sense, the business grew 7% in the context of global

$EHL #ASX Operating EBITDA of $281m and EBIT $125m (EHe $123m) a beat on our expectations, with margins across the board up a positive for FY25 and as an indicator for coming years. Outlook statement called for earnings momentum, which should be viewed strongly on a backdrop of a

$PMT #ASX Patriot have released their Preliminary Economic Assessment report (PEA). Numbers were broadly in line with recent studies completed and actuals with other companies, and demonstrate that PMT will be positioned well for a turnaround in lithium pricing when that comes.

$LYL #ASX We see a slightly lower than expected dividend (40cps, full year 77cps, a 6% yield) as largely the reason for Lycopodium’s sell off yesterday; the rest of the result was either inline or a marginal beat to expectations/guidance and FY25 outlook remains unchanged. We see

$FRI #ASX Announced an 8c final dividend representing a 9% yield which should be viewed positively by shareholders. Earnings were $16m (as guided), and we can continue to see this grow over FY25 through Aurora, The Point, Garden Towers, and other developments, which are coming

$VYS #ASX Vysarn reported today, no surprises since pre-reporting. Each of the business segments grew and we see continuing operational leverage through their fully integrated model and operational segments across consultancy, hydrogeological drilling, test pumping and managed

$FFM #ASX FFM owns the Green Bay Copper project. A project with scale and grade to survive the cycles. The Company announced that multiple key regional targets have been identified for EM and VTEM work, with three of these historically producing VMS-system mines (in the same

$WAF #ASX Gold production for H1CY24 of 107.64koz @ US$1,223/oz AISC, for unhedged sales of 101.95koz @ US2,199/oz average price resulted in $92m in NPAT for the half, tracking to the upper end of guidance. WAF’s unhedged gold production is improving ~210koz CY24, ~355koz CY25,

$ASB #ASB ASB has reached a resolution with the US Department of Justice (DoJ) to resolve a long standing investigation. ASB will pay a penalty of US$24m and provision for $US32m (associated costs and legals). The resolution paves the ways for ASB to proceed with financing

$ANG #ASX market had a flash crash this morning. Underlying FY24 NPAT was $31m (guidance was $31-33m, we expected $32.5m), Maiden FY25 guidance is for revenue of ~$350m and underlying EBIT of ~$50m - hit our number but lower than consensus. The Company expects “to further cash

$DUR #ASX Duratec have released full year results. EBITDA of $47.6m (up ~23%) was in line with consensus ($45m-$48m) expectations and resulted in NPAT of $21.4m. Cash on hand finished up at $65.2m and the outlook statement for FY25 was strong. A solid first half is expected to

$SPR #ASX Second half drill program underway with an two exceptional high grade hits in the Pepper Pepper prospect – 27.01m @ 39.15g/t Au from 606m, and 19.57m @ 22.06g/t Au from 578m. Importantly, ongoing drilling will target mineralisation up and down dip of Pepper Peppe. We