Daily Roundup

8CO.ASX SDF.ASX VMM.ASX AXE.ASX AAR.ASX

8COMMON Ltd turned a corner in the latest quarter, reporting positive EBITDA of $554k and a net profit before tax of $359k for the three months ended June 30. While total revenue dipped 18% year-on-year to $1.7 million, the company maintained a stable cash position and successfully paid off its full loan. The real highlight came courtesy of a fresh contract with the Australian Taxation Office worth $1.9 million over three years, complemented by extended agreements with several government departments. Looking ahead, management is optimistic about FY27, projecting SaaS revenue of $1.3 million with an impressive gross margin of 84%.

Over at Steadfast Group, negotiations with the Consortium of Amwins Group and Dragoneer Investment Group continue to move forward—albeit cautiously. The company has granted an additional four-week extension for exclusivity as the Consortium re-confirmed its non-binding, indicative proposal to acquire Steadfast at $6.00 per share. However, there's no guarantee a binding agreement will materialize. The proposal remains subject to due diligence, and shareholders have been advised to hold tight for now.

Viridis Mining and Minerals has delivered a significant upgrade to its Colossus ionic adsorption clay rare earth project. The updated mineral resource estimate now stands at 473 million tonnes grading 2,505 parts per million total rare earth oxide and 592 parts per million magnetic rare earth oxide. Even more impressive is the high-grade feed component: 97 million tonnes grading above 4,000ppm TREO and 1,000ppm MREO. This substantial measured mineral resource is a major milestone, as it supports the conversion of initial production schedules to proven ore reserves—a key technical requirement for securing project debt financing. The Colossus Project continues to set global benchmarks for rare earth developments.

Archer Materials has been busy advancing its quantum technology portfolio. The company achieved full-wafer manufacturing runs of its refined 12CQ quantum chip components and demonstrated a proof-of-concept quantum neural network for fraud detection in both simulation and quantum hardware environments. On the biochip front, the beta prototype saw significant improvements, including enhanced cartridge design and electronic readout systems. To fuel its roadmap, Archer completed a well-supported $7 million share placement and inked a strategic partnership with IonQ, Inc. to leverage quantum compute power for algorithm development.

Astral Resources has struck gold—literally—with high-grade assay results from in-fill drilling at the Theia deposit in Western Australia. Best results include 4 metres at 16.4 grams per tonne gold and 10 metres at 5.13 grams per tonne gold. These results validate the company's geological model and support the conversion of Stage 1 open pit resources to the higher-confidence Measured Resources category, helping de-risk early mine development. The in-fill drilling program is expected to continue throughout the remainder of 2026.