Daily Roundup

Netwealth Group is making a significant strategic move into AI-powered advice automation with its acquisition of Paradino. The deal is structured at $20 million upfront, with an additional $9 million earn-out and a further $10 million investment over two years to accelerate product development. Expected to close by the end of October 2026, the acquisition directly supports Netwealth's Dx30 strategy to boost adviser productivity. The numbers are compelling: Paradino can save advisers over 9 hours per week, translating to a 38% efficiency gain equivalent to advising 46 additional clients and generating $213,000 in extra fees annually. With an adviser cost under $5,000 per year and a payback period of less than a month, the economics look attractive. That said, Paradino will report separately and is expected to post an EBITDA loss of around $3 million in FY27. Netwealth is maintaining its existing guidance on a pre-acquisition basis.

New Hope Corporation delivered mixed results for FY26, with strong operational performance offset by softer financial metrics. The company increased saleable coal production to 11.5 million tonnes and coal sales to 11.8 million tonnes, both exceeding guidance. However, underlying EBITDA fell 32.8% to $514.3 million, while net profit after tax dropped 63.4% to $161 million, driven by higher costs and increased depreciation. Revenue was essentially flat, declining just 0.5% to $1.77 billion. On the positive side, New Hope demonstrated a solid commitment to safety, achieving a 38.3% reduction in its High Potential Event Frequency Rate. The company maintained a strong balance sheet and declared a fully franked final dividend of 30 cents per share. Looking ahead, New Hope remains confident in thermal coal demand, expecting prices to be well-supported over the medium to long term due to supply constraints from ageing assets and underinvestment in new projects.

The company also announced an encouraging update to its coal resources and reserves. Bengalla Mine's underground resources increased significantly to 100 million tonnes, with an additional 238 million tonnes of open-cut resources identified. New Acland Mine's resources grew by 151 million tonnes to 283 million tonnes. These updates reflect ongoing exploration success and updated geological models, positioning New Hope well for future production.

Evolution Mining provided an investor briefing highlighting its high-quality, long-life portfolio with sector-leading margins. The company is pursuing multiple growth initiatives across its key assets, including a transformation of Cowal into a Tier 1 operation, acceleration of copper growth at Northparkes, and multi-decade value creation at Ernest Henry. Exploration has been particularly fruitful, with significant high-grade gold and copper targets identified across the portfolio. For FY27, Evolution is guiding for gold production of 660,000 to 730,000 ounces and copper production of 63,000 to 70,000 tonnes, with an all-in sustaining cost of $1,795 to $1,995 per ounce. The company has allocated $130 million to $160 million for exploration and is targeting 60% of annual group cash flow for dividends. Evolution's strong balance sheet and disciplined capital allocation strategy underscore its ability to deliver sustainable returns through the cycle, supported by 27 consecutive dividend payments.

Trek Metals is making a strategic entry into the US critical minerals space with an option agreement for the Matrix Manganese Project in Arizona. The deal provides a low-cost, staged entry with a $50,000 option fee and $150,000 acquisition price, giving Trek a 9-month window to acquire 100% of the project. Located in Mohave County's manganese-mineralised province, the project could be developed as a low-impact in-situ recovery operation, providing Trek with exposure to a 100% import-reliant US critical mineral district.

Astral Resources reported positive assay results from its Theia Deeps diamond drilling program at the Mandilla Gold Project in Western Australia. The company continues to identify high-grade gold mineralisation at depth, with best intersections including 22 metres at 2.73 grams per tonne gold and 49 metres at 1.23 grams per tonne gold. These results support the potential to expand the existing 1.4 million ounce resource, with an updated Mineral Resource Estimate expected in the March Quarter 2027.