Daily Roundup

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8common Lands Major ATO Contract

8common Ltd's Expense8 platform has secured a significant three-year deal with the Australian Taxation Office, valued at $1.95 million including GST. The contract covers SaaS, transaction, and related services, with options to extend for three additional one-year periods. What makes this particularly noteworthy is the scale—the ATO brings over 20,000 users to the platform, substantially expanding 8common's government footprint. The company already serves more than 190 state and federal government entities with over 195,000 users, and Expense8 itself operates across 50,000 federal government users. Revenue recognition will flow across the three-year term once the service goes live, subject to standard implementation timelines.

Netwealth Expands Morgan Stanley Offering and Lifts Growth Outlook

Netwealth Group Limited has expanded its platform solution for Morgan Stanley Wealth Management Australia, marking a meaningful step into the stock broking and private wealth segment. The company's preliminary FY26 results paint an optimistic picture, with net flows reaching $15.4 billion. Looking ahead, Netwealth expects FY27 net flows between $18 billion and $20 billion, underpinned by new growth initiatives and underlying market momentum. The company is targeting an FY27 EBITDA margin of approximately 47%, with a longer-term ambition to double its Funds Under Administration over the next four years while pushing EBITDA margins toward 50%.

Fenix Resources Hits Record Production and Raises FY27 Targets

Iron ore producer Fenix Resources delivered a standout June quarter, shipping a record 1.3 million wet metric tonnes—a 33% jump from the previous quarter. The company comfortably achieved its full-year FY26 guidance with 4.4 million wmt shipped, landing squarely within its revised range. For FY27, Fenix is targeting iron ore sales of 4.7 to 5.3 million tonnes at a cash cost of $70 to $80 per tonne FOB Geraldton. The company's balance sheet remains robust, with $81 million in cash on hand as at June 30, after accounting for capital expenditure, debt repayments, and tax payments.

Bellevue Gold Crushes Expectations in Strong Quarter

Gold producer Bellevue Gold Ltd has delivered an impressive June quarter, producing 41,643 ounces at an average head grade of 4.5 g/t, beating the midpoint of its guidance. Full-year FY26 production came in at 144,000 ounces recovered and 143,000 ounces poured, placing the company in the upper half of its 130,000 to 150,000-ounce guidance range. The company's financial position has strengthened considerably, with cash and gold on hand climbing to $206.4 million by quarter's end. Bellevue has also reduced forward gold sales commitments by 23,000 ounces to 68,700 ounces, with no contractual deliveries required until June 30, 2027—giving the company flexibility to continue de-risking its balance sheet.

Accent Group Stands Firm Against Frasers Takeover Bid

The takeover battle between Accent Group and Frasers Group Plc continues to intensify. Frasers, which already holds 22.90% voting power in Accent, has lodged an application with the Takeovers Panel, contesting Accent's position that the offer price is inadequate. Accent's Independent Board Committee has reiterated its unanimous recommendation that shareholders reject the Frasers offer by taking no action and holding their shares. The company will respond to the Panel application according to established procedures and keep shareholders informed of any developments. The Panel has not yet decided whether to conduct proceedings on Frasers' application.