Daily Roundup

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Motio Ltd is riding high as it approaches the end of FY26, with May marking the highest revenue month in the company's history. The digital advertising platform expects Cash EBITDA growth of over 24% for the full year, and June is already on track to break that record. Despite cautious advertisers and compressed campaign timing, the company has maintained broad-based momentum across its national advertising business, with strong short-notice campaign bookings flowing in. Gross margins are exceeding 80%, demonstrating the operating leverage model is working as intended. With a healthy forward revenue position heading into FY27, CEO will provide a detailed update on July 3.

In the energy sector, Karoon Energy is firing on multiple cylinders. The company successfully restarted production at the Baúna SPS-92 well following an electrical submersible pump intervention, bringing total Baúna production to approximately 20,500 barrels of oil per day. A further uplift of 1,000-2,000 bopd is expected once the PRA-2 well comes back online. While the company has increased its 2026 Baúna capex guidance to $89-97 million due to higher intervention costs for SPS-92, it expects materially lower sustaining capital requirements over the coming years and strong cash flow generation in the second half of 2026. On the shareholder returns front, Karoon has announced the commencement of a third phase of its US$75 million on-market buyback program, set to begin in July. The Board believes the shares are undervalued, and the buyback will proceed at a measured pace while respecting the company's capital requirements for future project sanctions.

Forrestania Resources has been busy reshaping its portfolio. The company completed the acquisition of the Breakaway Dam Copper and Lithium Project from Catalina Resources, establishing itself as a significant shareholder in Catalina and gaining exposure to both copper and lithium exploration opportunities. More significantly, Forrestania announced the acquisition of the Edna May Gold Hub from Ramelius Resources for A$300 million, which includes the Edna May Mill, associated infrastructure, and a 945,000-ounce gold mineral resource. The deal is expected to complete in Q3 2026, subject to shareholder approval and an equity raising, with plans to restart the mill in the first half of 2027. By then, Forrestania targets over 6 million tonnes per annum of operating milling capacity, significantly enhancing operational flexibility and capital efficiency. A trading halt was implemented on June 28 pending these announcements.

Verbrec Limited has secured a $21 million contract to upgrade the McArthur River Pipeline in the Northern Territory, aimed at unlocking gas supply from the Beetaloo Basin. The project will be executed in two stages, with Stage 1 targeted for completion in 2026 and Stage 2 in 2028. Verbrec will handle comprehensive engineering, procurement, and construction services, including new infrastructure such as a third-party connection, pressure reduction skid, metering facilities, and a gas compression facility at Daly Waters. The contract is expected to significantly contribute to Verbrec's financial performance and strengthen its position in the energy sector.

Finally, First Au Limited is expanding its gold footprint in Western Australia through the acquisition of the Riverina East Gold Project from Viking Mines. The deal includes 11 mineral licenses and one exploration license application in the Kalgoorlie region, along with the historical high-grade First Hit Project and the highly prospective Bifrost prospect. The upfront consideration is $1.2 million in cash and $1 million in FAU equity, with additional equity tied to future mineral resource growth and exploration success. The transaction is expected to complete within the coming weeks, subject to regulatory approvals.