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Nanoveu Makes Strategic Push Into Drone Market With Spinoff Robotics Acquisition

Nanoveu Ltd is making a bold move to establish itself as a full-stack drone technology player. The company has entered into a binding agreement to acquire Spinoff Robotics, a Singapore-based deep-tech firm spun out from the Singapore University of Technology and Design. The deal brings two validated technologies to the table: the ALICE tethered drone and the METRON sub-millimetre photogrammetry system, along with the engineering expertise to design and build next-generation purpose-built drones.

What makes this particularly interesting is how it completes Nanoveu's vertical integration across silicon, airframe design, tethered station-keeping, sub-millimetre sensing, and on-device AI. By combining Nanoveu's edge AI silicon with Spinoff's aerial robotics expertise, the company can engineer its technology into drones from the ground up, unlocking better on-device intelligence and flight responsiveness. The acquisition opens doors to high-value markets including defence, surveillance, battlefield operations, and nuclear or hazardous inspections—areas where conventional drone technologies hit their limits.

Spinoff co-founder and lead researcher Dr Chee How Tan is joining Nanoveu as part of the deal, bringing significant aerial robotics expertise to the team. Looking ahead, Nanoveu plans to prioritise defence and critical-infrastructure applications, while also targeting surveillance opportunities in hyperscaler data centres, critical infrastructure, and airports.

Alkane Resources Hits Record Stride With $93 Million Q3 Profit

Mining company Alkane Resources is firing on all cylinders. The company reported record financial results for the third quarter ended 31 March 2026, with net profit hitting $93 million. The standout numbers tell the story: $274 million in revenue from gold equivalent sales of 43,373 ounces, record production of 44,669 ounces of gold and 377 tonnes of antimony, and $161 million in both EBITDA and cash from operations.

The impressive performance comes courtesy of Alkane's three-mine portfolio—Tomingley in New South Wales, Costerfield in Victoria, and Björkdal in Sweden—which all contributed to the record results. The company's cash, bullion, and liquid investments position strengthened to $374 million by quarter's end. Alkane is tracking well against its FY2026 guidance, which targets gold production of 180,000–190,000 ounces and antimony production of 1,200–1,300 tonnes, with all-in sustaining costs of $2,800–$3,000 per ounce of gold equivalent.

For the full financial year ending 30 June 2026, Alkane expects revenue in the range of $900 million to $950 million and EBITDA between $350 million and $380 million. The company's diversified portfolio of high-quality mining assets and strong financial position following the Mandalay Resources acquisition last year have positioned it well for continued growth.

Vicinity Centres Expands Sydney Footprint With $400 Million Retail Acquisition

Retail property investor Vicinity Centres has exchanged contracts to acquire the Eastern Creek Quarter in Western Sydney for $400 million. The hybrid retail asset comprises a recently opened 20,000-square-metre outlet centre, an integrated 10,000-square-metre traditional retail shopping centre, and an 11,000-square-metre large format retail centre.

Located in the heart of Western Sydney's industrial and residential growth corridor, Eastern Creek Quarter benefits from excellent transport connectivity via several major motorways, bus services, and heavy rail. The acquisition aligns squarely with Vicinity's strategic priorities to increase its exposure to metropolitan Sydney and strengthen its existing outlet centre network. While the asset already houses a solid retail offering, Vicinity sees room to leverage its retail partnerships, property management, and leasing expertise to drive enhanced performance and value growth.

CEO Peter Huddle noted that by maintaining a conservative but flexible capital structure, the company has been able to capitalise on this attractive opportunity, which will enhance earnings resilience and strengthen Vicinity's future income and value growth profile.

Ventia Locks In $405 Million Water Services Contract

Ventia Services Group has secured a significant contract renewal with Yarra Valley Water, valued at $405 million over nine years. The new deal consolidates existing service contracts, sewerage and water network reactive maintenance, and mechanical and electrical planned and reactive maintenance into a single arrangement.

Under Yarra Valley Water's new delivery model, two strategic partners will manage maintenance services across North and South regions, with Ventia securing the South region. This reinforces Ventia's position as a trusted delivery partner in essential services. The company has been delivering sewage and network maintenance services for Yarra Valley Water since 2015, and the new partnership arrangements will commence in October 2026. Managing Director and Group CEO Dean Banks expressed the company's pleasure at continuing the partnership, with a focus on transformational asset management and enhanced service delivery.

Banking Housekeeping

Westpac Banking Corporation announced the suspension and removal of its EUR1,000,000,000 0.766% Notes from ASX Official Quotation following their redemption on 13 May 2026. The suspension took effect at the close of trading on 15 May 2026, with removal from quotation effective from 18 May 2026. The move affects only the Notes (ASX Code: WBCHDF) and does not impact any other Westpac securities.

In separate news, Nanoveu Ltd has been reinstated to ASX quotation following the release of its announcement regarding the proposed Spinoff Robotics acquisition. Trading suspension has been lifted with immediate effect.