Daily Roundup

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Evolution Mining is making a significant move in the copper space, agreeing to acquire Carnaby Resources for approximately A$213 million. The deal brings the advanced Greater Duchess Project into Evolution's portfolio, positioned near its existing Ernest Henry Operations. The acquisition has the potential to add roughly 10,000 tonnes per annum of copper production, fitting neatly into Evolution's strategy of building a high-quality portfolio of gold and copper assets in tier-1 jurisdictions.

Carnaby shareholders are getting a sweet deal out of it. They'll receive 0.0682 Evolution shares for each Carnaby share they hold, translating to A$0.772 per share—a hefty 60.4% premium to Carnaby's last closing price of A$0.48. The Carnaby board has unanimously recommended shareholders vote in favor of the scheme, highlighting the benefits of the upfront premium, de-risking of the Greater Duchess project, and exposure to Evolution's track record with consistent dividends.

In other mining news, Elliott Associates and Elliott International have disclosed a significant long equity derivative position in Northern Star Resources. The investment vehicles hold derivatives covering approximately 76.2 million shares with a reference price range between A$17.37 and A$31.66. The position was initiated back in February 2026, and there have been no material changes to previously disclosed information.

Switching gears, Acusensus has secured an extension on its road safety contract with Queensland's Department of Transport and Main Roads. The first of two possible twelve-month extension options has been exercised, pushing the service term end date to November 30, 2027. The extension is worth approximately A$4.3 million (excluding GST) and reflects the ongoing success of the mobile phone and seatbelt detection enforcement program in reducing road trauma across the state.

Verbrec is painting an optimistic picture with its updated financial guidance. For the full year ending June 30, 2026, the company expects revenue between A$115 million and A$120 million—a 47% to 54% jump from the prior year. Looking ahead to FY2027, Verbrec is forecasting revenue of A$140 million to A$160 million with adjusted EBITDA between A$10 million and A$12 million. The company is banking on sustained demand across its core markets, including gas transition, electrification, energy storage, and industrial automation. The FY2027 outlook also factors in the first full-year contribution from Alliance Automation and expected synergies from the integration.

Finally, Vysarn Limited has requested a trading halt on its shares, effective July 27, 2026. The company is gearing up to announce a potential material acquisition and capital raising initiative. The halt will remain in place until the announcement drops or trading resumes on July 29, 2026.