Daily Roundup

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Evolution Mining is making a significant move in the copper space, agreeing to acquire Carnaby Resources in an all-stock deal valued at approximately A$213 million. The acquisition brings the advanced Greater Duchess Project into Evolution's fold, positioned right near its Ernest Henry operations. The real prize here is the potential to add roughly 10,000 tonnes per annum of additional copper production—a meaningful boost for a company focused on building a portfolio of high-quality, long-life assets in tier-1 jurisdictions.

Carnaby shareholders are getting a sweet deal out of it. They'll receive 0.0682 Evolution shares for each share they hold, translating to A$0.772 per share. That's a hefty 60.4% premium to Carnaby's last closing price of A$0.48, and the Carnaby board has unanimously recommended shareholders vote in favor. Beyond the upfront premium, shareholders gain exposure to Evolution's consistent dividend policy and get the de-risking that comes with being part of a larger, established operator.

Over at Northern Star Resources, activist investor Elliott Associates has disclosed a significant long equity derivative position. Elliott Associates and Elliott International collectively hold derivatives covering 76,194,999 shares, with a reference price range spanning from A$17.37 to A$31.66. The position dates back to February 2026, and there haven't been any material changes to what's already been disclosed.

Acusensus Ltd has secured a contract extension with Queensland's Department of Transport and Main Roads. The company's mobile phone and seatbelt detection technology will continue operating through November 2027 after the department exercised the first of two available twelve-month extension options. The incremental value of this extension sits at approximately A$4.3 million excluding GST. It's a validation of the program's success—Queensland has already seen notable reductions in unrestrained fatalities on its roads.

Verbrec Ltd is painting an optimistic picture for the next two years. The engineering and technology services company is guiding for FY2026 revenue between A$115 million and A$120 million, representing growth of 47% to 54% from the prior year, with EBITDA expected to land between A$15 million and A$15.5 million. Looking further ahead, FY2027 revenue is projected to reach A$140 million to A$160 million, though adjusted EBITDA is expected to dip slightly to A$10 million to A$12 million as the company integrates Alliance Automation. The company is banking on sustained demand across gas market transition, electrification, energy storage, and industrial automation.

Finally, Vysarn Limited has requested a trading halt on its shares effective immediately, pending an announcement about a potential material acquisition and capital raising. The halt will remain in place until either the announcement drops or July 29, 2026, whichever comes first. Investors will have to wait a few days to learn what the company has cooking.