Daily Roundup

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Netwealth is riding strong momentum with a $15.4 billion in net flows for FY26, and the company is setting its sights even higher. The wealth platform provider has expanded its offering for Morgan Stanley Wealth Management Australia, marking a significant push into the stock broking and private wealth space. Looking ahead, Netwealth expects FY27 net flows between $18 billion and $20 billion, with an anticipated EBITDA margin of around 47%. The company's long-term ambition is ambitious: doubling its Funds Under Administration over the next four years while pushing EBITDA margins toward 50%.

Over in the resources sector, Fenix Resources is firing on all cylinders. The iron ore producer just posted a record 1.3 million wet metric tonnes shipped in the June quarter—a 33% jump from the previous quarter. The company hit its FY26 production target of 4.4 million wmt and is now targeting 4.7 to 5.3 million tonnes of iron ore sales for FY27, with cash costs expected between A$70 and A$80 per tonne. With A$81 million sitting in the bank, Fenix is in a strong financial position to capitalize on the momentum.

Bellevue Gold also delivered impressive results, producing 41,643 ounces of gold in the second quarter at a solid 4.5 grams per tonne head grade. The company finished FY26 with 144,000 ounces recovered and 143,000 ounces poured, landing comfortably in the upper half of its guidance range. Even better, the company's balance sheet has strengthened considerably, with cash and gold on hand reaching $206.4 million by quarter-end. Bellevue has also been strategically reducing its forward gold sales commitments, de-risking the balance sheet for future growth.

Summerset Group is seeing solid traction in the retirement living space. The company recorded 448 occupation rights sales in the second quarter, split between 221 new sales and 227 resales. While new sales held steady compared to last year, resales jumped 26%, and first-half sales overall climbed 17% year-on-year. The company's new village centre buildings are attracting strong interest, with 45% of available units at Cambridge already occupied or under contract.

Finally, Lynas Rare Earths is expanding its footprint with a strategic partnership. The company is investing approximately A$50 million in JS Link to build a rare earth permanent magnet factory in Malaysia. The facility will produce 3,000 tonnes annually of magnets and is expected to create up to 400 new jobs. The magnets will supply critical markets including automotive, wind energy, and electronics manufacturing across Korea, Malaysia, and beyond. Lynas will also supply rare earth materials to both the Malaysian facility and JS Link's South Korean operations through January 2038.