Daily Roundup

Frasers Group has extended its takeover offer for Accent Group, pushing the closing date to 29 January 2027. The bidder's statement was updated on 10 August 2026, and the extension was issued under section 649C of the Corporations Act. The offer terms remain unchanged, giving shareholders additional time to consider the bid.

New Hope Corporation has updated its coal resources and reserves for 2026, reflecting new exploration data and geological models. The Bengalla Mine saw a substantial boost, with resources increasing by 262 million tonnes to reach 584 million tonnes total, including 100 million tonnes of underground resources. This jump was driven by exploration drilling and the extension of the geological model into new exploration licenses. Meanwhile, the New Acland Mine's resources climbed by 151 million tonnes, supported by updated geological models and exploration drilling. Reserves at Elimatta and Taroom remained steady. All updates were prepared in accordance with the JORC Code (2012).

Macmahon Holdings is making a strategic move into engineering and minerals processing by acquiring Aspect Engineering Solutions for A$75 million. The deal is expected to be earnings per share accretive from day one, with indicative accretion of around 6.2%. The acquisition will be funded through an upfront payment of A$30 million, retention-linked payments of A$30 million over five years, and potential contingent payments up to A$30 million. The move positions Macmahon to offer clients an integrated pathway from concept through to maintenance, broadening its participation across the mining value chain.

Forrestania Resources has several significant developments underway. The Takeovers Panel issued orders regarding its Zenith Minerals takeover, but these don't prevent the offer from proceeding. Zenith shareholders who have already accepted now represent 49.23% of Zenith shares, giving Forrestania a relevant interest of approximately 58.33%. The offer period has been extended to 21 October 2026, allowing shareholders to withdraw acceptances within one month of notice.

On the construction front, Forrestania's Lake Johnston Processing Facility is progressing ahead of schedule. The team has achieved key milestones including carbon-in-leach tank installations, dispatch of the first major process pump, and completion of process tank agitators. Executive Chairman David Geraghty highlighted the strong momentum being achieved by the team and contractors.

Forrestania has also unveiled a slate of pre-feasibility studies that paint an encouraging picture for gold production. The Edna May deposit features a maiden Ore Reserve of 12.6 million tonnes at 0.99 grams per tonne gold for 402.8 koz of gold. The project is estimated to generate pre-tax undiscounted free cash flow of A$728.7 million at a gold price of A$5,500 per ounce over a 10-year project life, with mining and milling lasting 10 and 9 years respectively at an average all-in sustaining cost of A$3,293 per ounce. Total project capital is estimated at approximately A$98.0 million.

British Hill represents a near-term opportunity with a maiden Ore Reserve of 1,563 kilotonnes at 1.43 grams per tonne gold for 71.9 koz of gold. The project is scheduled for mining over approximately 23 months and processing over 11 months, with estimated pre-tax undiscounted free cash flow of A$104.8 million at A$5,500 per ounce. Total project capital is approximately A$16.1 million, with ore to be hauled 145 kilometres to the Edna May processing facility.

Tycho offers a compact, execution-ready opportunity with a maiden Ore Reserve of 418 kilotonnes at 1.10 grams per tonne gold for 14.7 koz of gold. The eight-month project is expected to produce approximately 13.0 koz of recovered gold at an average all-in sustaining cost of A$3,849 per ounce, generating pre-tax undiscounted free cash flow of approximately A$9.9 million at A$5,500 per ounce.

Johnson Range stands out as a high-grade opportunity with an Ore Reserve of 308 kilotonnes at 2.88 grams per tonne gold for 28.5 koz of gold. Over a 12-month project life, it's estimated to deliver pre-tax undiscounted free cash flow of A$60.1 million at A$5,500 per ounce. Mining will take approximately 11 months, processing three months, at an average all-in sustaining cost of A$2,905 per ounce, with total project capital of approximately A$8.0 million.

Qmines has acquired two freehold properties over and adjacent to the Botos deposit at Mt Chalmers in Central Queensland for A$2.388 million, improving land access over the deposit. The Botos deposit carries an Exploration Target of 1.5 to 2.5 million tonnes at 0.5 to 0.8 grams per tonne gold, plus zinc, copper, and silver. Historical drilling included impressive intercepts of 33 metres at 0.80 grams per tonne gold and 27 metres at 0.83 grams per tonne gold. A nine-hole, 1,500-metre drilling program is underway to test Botos and assess its potential as an additional feed source for the planned Mt Chalmers processing hub.