Daily Roundup

Auric Mining bolsters gold resources with Union Jack acquisition

Auric Mining has sealed a deal to acquire the Union Jack Project, a move that significantly strengthens its resource base. The acquisition adds 3.12 million tonnes grading at 1.02g/t gold—equivalent to 102,000 ounces—and pushes Auric's total mineral resource inventory up by 51% to 7.5 million tonnes at 1.25g/t gold. What makes this particularly attractive is the project's location just 15 kilometres from Auric's Burbanks processing plant, creating immediate potential to feed additional ore through existing infrastructure.

The company 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. Auric plans to drill aggressively to expand the resource and test for potential growth up to 200,000 ounces of gold.

Westgold charts ambitious three-year growth trajectory

Westgold Resources has laid out an ambitious roadmap to lift production from 385,000 to 425,000 ounces in FY27 to between 460,000 and 510,000 ounces by FY29. The company is backing this expansion with a fully funded organic growth plan centred on increasing ore availability from its Murchison operations and expanding the Cue and Meekatharra processing hubs.

The numbers tell an encouraging story. All-in sustaining costs are expected to fall from A$2,980 to A$3,380 per ounce in FY27 down to A$2,640 to A$3,000 per ounce by FY29. Westgold is committing A$450 million to A$480 million for growth capital and A$50 million to A$75 million for exploration. The company has also flagged material upside from opportunities not yet included in the base case, such as the Fletcher Zone at Beta Hunt.

Metcash demonstrates resilience amid mixed conditions

Metcash delivered a steady performance in FY26 despite choppy trading conditions. Revenue edged up 0.7% to A$19.6 billion, while group earnings before interest and tax climbed 1.6% when excluding strategy and integration costs. Operating cash flow remained robust at A$558 million, reflecting disciplined working capital management.

The company's strategy of winning with independents continues to pay dividends across its diversified portfolio, with improvements in supermarkets, growth in foodservice and convenience, and successful integration of acquisitions like Total Tools and Independent Hardware Group. Metcash has also made headway on its environmental commitments, achieving 100% renewable energy sourcing and cutting emissions.

NEXTDC taps capital markets with A$1.1 billion convertible offering

NEXTDC is raising A$1.1 billion through subordinated convertible notes due 2031 to strengthen its balance sheet and fund its development pipeline. The notes carry an indicative coupon of 1.25% to 1.75% per annum—considerably lower than traditional senior debt—making them an attractive financing tool for the data centre operator.

The conversion price will be set at a premium of 32.5% to 37.5% to the reference share price, with capped call transactions designed to increase the effective conversion price up to a cap of 70% above the reference price. The move aligns with NEXTDC's strategy to diversify funding sources and tap differentiated global capital, enhancing financial flexibility while maintaining a strong liquidity position.

Forrestania locks in key operational agreements ahead of restart

Forrestania Resources has been busy securing the building blocks for its Lake Johnston and Edna May processing hub strategy. The company has executed a framework agreement with SGS Australia for laboratory services, a haulage agreement with Campbell Gold Haulage, and a long-term sodium cyanide supply deal with Orica.

Beyond these operational agreements, Forrestania has also placed orders for critical long-lead equipment and consumables, including replacement SAG and ball mill liners, grinding media, and activated carbon. The company has additionally inked an ore purchase agreement with First Au Limited, establishing a framework to process up to 2 million tonnes of third-party ore over a 24-month period. These moves signal the company is preparing methodically for its planned restart activities.