Daily Roundup

Auric Mining strikes gold with Union Jack acquisition

Auric Mining has locked in a major deal to acquire the Union Jack Project, a move that significantly bolsters its resource base. The acquisition brings 3.12 million tonnes of ore grading at 1.02 grams per tonne of gold—roughly 102,000 ounces—into Auric's portfolio. What makes this particularly attractive is the location: just 15 kilometers from Auric's existing Burbanks processing plant, which means the company could potentially feed this new resource directly into its current operations.

The numbers tell an impressive story. This acquisition bumps up Auric's total mineral resource inventory by 51% to 7.5 million tonnes at 1.25 grams per tonne. Auric is paying A$6.6 million in cash upfront plus A$3.0 million in shares, with additional milestone payments of up to A$7.0 million tied to resource growth. The company plans to drill further to test whether the project could eventually yield up to 200,000 ounces of gold.

Westgold charts ambitious three-year growth plan

Over in the gold sector, Westgold Resources has unveiled an ambitious roadmap for the next three years. The company expects to produce between 385,000 and 425,000 ounces of gold in FY27, with all-in sustaining costs (AISC) ranging from A$2,980 to A$3,380 per ounce.

But the real story is the growth trajectory. By FY29, Westgold is targeting production of 460,000 to 510,000 ounces while simultaneously bringing down costs to A$2,640 to A$3,000 per ounce on an FY27 real-cost basis. The company plans to invest between A$450 million and A$480 million into growth projects, with another A$50 million to A$75 million earmarked for exploration. The strategy centers on expanding operations in the Murchison and Southern Goldfields regions, boosting ore availability, and expanding processing hubs at Cue and Meekatharra. Westgold notes there's additional upside from opportunities like the Fletcher Zone at Beta Hunt that aren't yet factored into these base-case numbers.

Forrestania gears up for restart with supply chain deals

Forrestania Resources has been quietly locking in the operational backbone needed to restart its processing operations. The company has signed agreements with SGS Australia for laboratory services, Campbell Gold Haulage for logistics, and Orica for long-term sodium cyanide supply. It's also placed orders for critical equipment like replacement mill liners and grinding media.

Adding another layer to its strategy, Forrestania has inked an ore purchase agreement with First Au Limited that could see the company process up to 2 million tonnes of third-party ore over the next 24 months. These moves reflect Forrestania's push to develop its Lake Johnston and Edna May processing hub.

Metcash delivers steady hand through mixed conditions

Metcash Ltd proved resilient in FY26 despite choppy trading conditions. The diversified distributor reported revenue of A$19.6 billion, up just 0.7%, but more importantly, group EBIT climbed 1.6% when excluding strategy and integration costs. Operating cash flow came in strong at A$558 million, demonstrating solid working capital discipline.

The company's "Winning with Independents" strategy continues to bear fruit across its portfolio, with particular strength in supermarkets, foodservice, and convenience. Metcash also successfully integrated Total Tools and Independent Hardware Group into its operations. On the sustainability front, the company achieved 100% renewable energy sourcing and made meaningful emissions reductions.

FOS Capital taps market for growth capital

FOS Capital Ltd has raised A$1.86 million through a placement at A$0.12 per share—a 20% discount to the previous closing price. Directors showed confidence by committing to subscribe for A$310,000 worth of shares themselves. The capital will support the Queensland Schools Lighting Upgrade Program, ATS growth initiatives, cost reduction efforts, and general working capital needs.

The company has also announced a Share Purchase Plan allowing eligible shareholders to buy up to A$30,000 in shares without brokerage costs, with the company hoping to raise an additional A$750,000 through that avenue.