Daily Roundup

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Develop Global Locks in $70m Mining Deal for Pioneer Dome Lithium Project

Develop Global has awarded a $70 million integrated mining and crushing contract to MLG Oz Limited for its Pioneer Dome lithium project in Western Australia. The fully-scoped deal covers drill and blast, ore and waste mining, load and haul, ROM stockpile management, and crushing circuit operations. MLG was selected following a competitive tender process, with the Kalgoorlie-based contractor's regional expertise and lithium experience proving decisive. The contract kicks off in July 2026, with mining operations commencing in August and crushing from September. Pioneer Dome remains on track for production in the December quarter, backed by $400 million in financing and an offtake agreement with Trafigura. An updated resource and grade control model is planned for the September quarter, with recent high-grade lithium drilling results suggesting potential to increase the resource grade.

Stakk Hits Maiden Profit Milestone with Strong Growth Trajectory

AI-native Digital Trust infrastructure provider Stakk Limited is expecting its first operating profit for FY2026, with anticipated revenue of approximately $13.55 million. The company has also provided a FY2027 revenue outlook of $21.8 million based on existing customer agreements. What's particularly impressive is that Stakk's annualized revenue run-rate has already climbed to $26.0 million, well above its initial $15.0 million target. The company maintains gross margins of around 85%, reflecting the scalability of its recurring revenue model.

BSA Extends Foxtel Partnership Through 2029

BSA Limited has extended its Foxtel contract for an additional two years, taking the relationship through to October 2029, with two further one-year extension options available. The deal marks the 33rd year of partnership between the two companies, with BSA remaining Foxtel's exclusive supplier for commercial project work—a role it's held since 1998. CEO Sasho Kacevski highlighted the strength of their long-standing strategic collaboration.

Peel Mining Completes Spectre Metals Demerger

Peel Mining has successfully implemented the demerger of Spectre Metals, distributing Spectre shares to eligible Peel shareholders on a one-for-4.4591 basis. Ineligible foreign shareholders will have their Spectre shares sold by a sale agent following Spectre's ASX listing. The scheme of arrangement for Aeris Resources to acquire 100% of Peel shares is expected to be implemented on 1 July 2026. Spectre shares won't appear in broker-sponsored accounts until the company completes its IPO and ASX listing.

Terracom Adjusts FY2026 Coal Sales Guidance

Terracom has revised its FY2026 coal sales estimate from Blair Athol Mine to approximately 1.45 million tonnes, down from the previously expected 1.52 million tonnes. A delay in a production blast resulted in insufficient coal for the final shipment before financial year-end. The deferred shipment is expected to load in early July and will be recognized in FY2027 sales. The company's FY2027 planning remains unchanged and is subject to Board approval.