Daily Roundup

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Northern Star Resources Provides Operational Update

Northern Star Resources has revised its FY26 production guidance, now expecting output to exceed 1.50 million ounces. However, the company is facing significant ongoing operational challenges, particularly at its KCGM operations, where weaker-than-planned milling performance and reduced mining productivity have impacted recent gold sales.

While several factors will continue to affect the full-year result, Northern Star's best estimate is that FY26 production will be above the lower end of guidance, with the outcome heavily dependent on mill throughput at KCGM. The company's focus over the next four months will be on setting the business up for success in FY27, rather than solely chasing short-term targets.

On a positive note, the KCGM Mill Expansion Project remains on track for early FY27 commissioning, which should help address the current operational constraints. Northern Star is also undertaking a review at its Jundee operations to reduce costs and prioritize higher-margin ounces.

Aquirian Provides Drillforce Operational Update

Aquirian's technology-led drill and blast services business, Drillforce, is engaged in several client tenders as it continues to advance its operational capabilities. The company has secured two new drill rigs, one of which incorporates Aquirian's patented Automated Collar Keeper System.

Aquirian's proprietary drill technology and energetics underpin the Drillforce value proposition, enabling a fully integrated offering across the drill and blast value chain. Following an internal review, the company has decided not to progress a previously announced drilling joint venture with Topgroup, though Topgroup remains a supportive strategic shareholder.

Brazilian Crude Oil Export Tax Announced

Karoon Energy has advised that the Brazilian Government has imposed a 12.0% tax on oil exports, effective immediately. The tax is expected to be deductible for corporate income tax purposes and will lapse after 120 days unless ratified by the Brazilian Congress.

ARC Funds Ltd Suspended from ASX Quotation

ARC Funds Ltd has been suspended from quotation on the Australian Securities Exchange due to insufficient directors to comply with the Corporations Act. The suspension will continue until the company can demonstrate compliance with the ASX Listing Rules.

Collins Foods Settles Employee Class Action

Collins Foods has entered into a binding agreement to settle an employee class action regarding 10-minute rest breaks. The agreed settlement amount of up to AUD $9 million is subject to Federal Court approval, and Collins Foods has made no admission of liability.

ARC Funds Ltd Pauses Trading

In a separate announcement, ARC Funds Ltd has temporarily paused trading in its securities, pending a further announcement from the company. The reason for the trading pause has not been disclosed.