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Cuscal Acquires Paymark, Raises Equity

Cuscal Limited is making a big move, announcing the acquisition of 100% of Paymark Limited, a leading payments infrastructure provider in New Zealand, for A$27 million. This strategic acquisition is expected to be mid-single digit earnings per share (EPS) accretive in fiscal year 2027 and deliver a mid-teens return on invested capital.

To fund the deal, Cuscal is raising equity through a fully underwritten A$30 million institutional placement and a non-underwritten up to A$3 million share purchase plan. The acquisition will allow Cuscal to significantly expand its footprint in New Zealand, tapping into Paymark's market-leading position and similar operations to Cuscal's Australian business.

Cuscal plans to operate Paymark as a standalone entity, retaining the existing management team to continue executing on the company's strategy and product roadmap. This acquisition is expected to be a key driver of Cuscal's long-term value creation, with the company forecasting ROIC to exceed 25% once Paymark's switch investment program is complete.

Yancoal to Acquire 80% of Kestrel Coal Mine

In another major move, Yancoal Australia Ltd is acquiring an 80% interest in the Kestrel Coal Mine, a large-scale, high-quality metallurgical coal asset in Queensland's Bowen Basin. The A$2.4 billion deal will immediately boost Yancoal's production volumes, product mix, and operating cash flow.

Kestrel is a top-tier asset with a 25-year mine life and substantial reserves, positioning it in the top 35% of the global seaborne metallurgical coal cost curve. The acquisition aligns with Yancoal's operating strengths and further consolidates its leading position among ASX-listed Australian coal producers.

Yancoal expects Kestrel to potentially produce around 4.8 Mt of saleable coal in 2026 on an attributable basis, contributing to the company's combined saleable production of 41.3-45.3 Mt for the year, depending on the completion date.

ReadCloud Reports Record Quarterly Cash Receipts

Turning to the tech sector, ReadCloud Ltd has delivered a strong performance, reporting record quarterly cash receipts of A$5.2 million for its school businesses - a 28% increase year-over-year. The company added 60 new schools for 2026, bringing its total to 440 schools.

ReadCloud's eBooks division continued to generate high-quality recurring revenue, underpinned by the company's strong school relationships and differentiated digital learning platform. ReadCloud is on track to achieve its financial targets, including growing revenue by 10-20% per annum and generating over A$1 million in underlying EBITDA in fiscal year 2026.

Looking ahead, ReadCloud is expanding its sales force in 2026 to leverage its strengthening market presence and accelerate growth in upcoming sales cycles. The company's scalable technology platforms and controlled cost structures position it well for further strengthening in fiscal year 2027.

Clarity Secures Manufacturing Deal for Cu-64 SAR-bisPSMA

In the healthcare space, Clarity Pharmaceuticals has signed a Commercial Manufacturing Agreement with Nucleus RadioPharma for the production of its Cu-64 SAR-bisPSMA radiopharmaceutical product. This agreement covers manufacturing at facilities in Minnesota and Pennsylvania, enabling broad commercial coverage across the US and select international markets.

The deal builds on Clarity's existing partnership with Nucleus RadioPharma and represents an important step in the company's continued build-out of its manufacturing capabilities ahead of the anticipated commercial launch of 64Cu-SAR-bisPSMA upon successful completion of Phase III trials and FDA approval.

Clarity's flexibility in delivery models, thanks to the half-life of copper-64, will allow the company to meet future demand for its products through centralized manufacturing and distribution.