Daily Roundup

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Qoria and Aura Merger Update

Qoria Limited has provided an update on its proposed merger with Aura, and the news is looking good. Aura has secured binding commitments for an increased equity placement of US$100 million, up from the previously announced US$75 million. This demonstrates the strong conviction of Aura's existing shareholders in the combined group.

The merger ratio remains unchanged, with Qoria's issued securities representing 35% of the issued securities in AXQ at implementation. The parties have also agreed on a leadership structure designed to maximize execution capability, global scale, and long-term value creation. Key appointments include Hari Ravichandran as CEO of the combined group, Sujay Jaswa as Chairman of Aura, and Brian DeCenzo as CFO and President of Aura.

The Qoria Board continues to unanimously recommend that shareholders vote in favour of the Scheme, in the absence of a Superior Proposal and subject to the Independent Expert concluding that the Scheme is in the best interests of Qoria shareholders. The updated capital and leadership structure reflects a shared view that the global technology sector is undergoing rapid transformation, requiring scale, speed, and capital strength for long-term success.

Meeka Metals Acquires Mt Holland South Gold Assets

In other news, Meeka Metals Ltd has entered into a binding agreement to acquire various gold mining tenements surrounding the Mt Holland area in Western Australia. The mining tenements cover ~24km of north-south striking banded iron formation, the principal host of gold mineralization at Mt Holland. The area has historically produced ~1.2Moz of gold at 5.12g/t Au prior to 2001, but no significant gold-focused exploration has been conducted in the past ~15 years.

Meeka plans to commence an initial 20,000m of systematic drilling targeting these BIF units over the next 12-18 months, aiming to unlock the significant exploration potential of the acquired assets.

Qoria Reports Strong Q1 FY2026 Results

Turning to Qoria Ltd's results, the company has reported a strong performance in Q1 FY2026. Qoria added a record $7.6 million of ARR, up 49% year-over-year, with Qustodio ARR growing at an annualized rate of 34%. Aura, which is proposed to merge with Qoria, also delivered its largest quarter of ARR growth at $25.6 million, up 39% year-over-year.

Qoria has reiterated its FY2026 guidance of over AU$145 million in revenue, 20% ARR growth, and an adjusted EBITDA margin of around 20%. The proposed merger with Aura is progressing, with the combined leadership team and board structure announced. This merger is expected to enable aggressive investment in AI, growth, and integration, while ensuring balance sheet strength at completion.

Mach7 Technologies Reports Q3 FY26 Results

Mach7 Technologies Limited has reported its Q3 FY26 results, highlighting a 6% increase in Contracted Annual Recurring Revenue (CARR) to A$25.8 million. The company also saw strong sales orders, with Q3 FY26 Sales Orders TCV reaching A$6.0 million, up from A$4.8 million in Q3 FY25.

Mach7 maintained a solid financial position, with closing cash of A$18.2 million and no debt. While FY26 revenue is expected to be approximately 15% below FY25 due to reduced services and delayed conversion of large capital deals, the company remains positioned for future operating leverage as execution and conversion progress into FY27.

Pilbara Minerals Reports Record March Quarter Results

Pilbara Minerals Ltd has reported a strong March quarter, with record production of 232.4kt of spodumene concentrate. The company also benefited from a surge in lithium pricing, with the average realised sales price increasing 61% to US$1,867/t. This supported a 52% increase in revenue to A$567 million and a 52% rise in cash balance to A$1.455 billion.

Pilbara Minerals is progressing growth initiatives, including the restart of the Ngungaju plant, scheduled for July 2026, and the ongoing feasibility studies for the P2000 expansion project and the Colina project in Brazil. The company remains well-positioned to navigate market cycles and capture further value creation opportunities.

Rokeby Resources Acquires Omeo Gold Project

Finally, Rokeby Resources Limited has announced the transformational acquisition of the high-grade Omeo Gold Project in Victoria. The project includes the Maude and Sunnyside deposits and is underpinned by a historical mineral resource estimate of 320,000 oz at 4.0 g/t Au.

Rokeby has secured firm commitments to raise $4 million via a placement to fund the planned exploration program, which will initially focus on the Sunnyside deposit to upgrade the existing historical resource. The acquisition aligns with Rokeby's strategy of building a portfolio of high-quality, high-grade gold assets, providing increased scale, strengthened gold exposure, and multiple growth pathways.