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Smooth Sailing for GQG Partners in 2025

GQG Partners Inc. (GQG.ASX) capped off a strong year, reporting robust growth across key financial metrics for 2025. The asset manager's funds under management (FUM) reached a record $163.9 billion, up 7.1% from 2024, driven by $14.8 billion in investment performance. This translated to a 6.3% increase in net revenue to $808.3 million and a 7.3% rise in net income to $463.3 million.

The company's diverse range of investment strategies, from Global Equity to Emerging Markets, all delivered positive returns over various time periods. GQG's focus on protecting client capital and investing in high-quality companies has served the firm well through different market cycles. The company also remains committed to building a talented and aligned team, as well as adapting its risk management approach to the ever-changing environment.

Alongside the strong financial results, GQG Partners declared a fourth quarter dividend of $0.0365 per share, representing a 90% payout ratio. This demonstrates the firm's confidence in its ability to generate sustainable returns for shareholders.

Looking ahead, GQG Partners appears well-positioned to continue its growth trajectory. With a solid foundation, a proven investment philosophy, and a disciplined approach to managing client assets, the company is poised to navigate the evolving market landscape and deliver value for its stakeholders.

Vysarn Advances Kariyarra Water Scheme

Vysarn Ltd (VYS.ASX) is making progress on its joint venture with the Kariyarra Aboriginal Corporation to develop water resources in the Pilbara region. The Kariyarra Aboriginal Corporation has formally submitted a detailed hydrogeological assessment, prepared by Vysarn's subsidiary Pentium Water, to support its application for a groundwater license.

This is a significant milestone in the Kariyarra Water Scheme, which aims to investigate, assess, manage, and supply water from identified resources on Kariyarra country. Vysarn's wholly owned subsidiary, Vysarn Asset Management, has also continued to advance commercial discussions with potential bulk water off-takers in the East Pilbara region and has lodged a Registration of Interest with the Water Corporation.

The company is working in parallel to secure the necessary regulatory approvals, including environmental, local government, and land tenure approvals, to develop the water scheme. This collaborative effort between Vysarn and the Kariyarra people underscores the company's commitment to sustainable water resource management and its focus on creating value for all stakeholders.

Botanix Pauses Trading, Potential Capital Raise Ahead

Botanix Pharmaceuticals Ltd (BOT.ASX) has requested a trading halt in its securities, pending an announcement regarding a potential capital raising. The trading halt will remain in place until the earlier of the announcement's release or the market open on 17 February 2026.

The company has not provided any further details on the reasons for the potential capital raise, but investors will be keen to learn more about the company's plans and how the additional funding will be utilized. Botanix Pharmaceuticals is a clinical-stage dermatology company focused on developing innovative therapies for skin conditions, so any capital raise could support the advancement of its pipeline.

Shareholders will need to wait patiently for the company's announcement, which should shed more light on the rationale and intended use of proceeds. In the meantime, the trading halt ensures an orderly market as Botanix Pharmaceuticals prepares to share its plans with the investment community.

AVITA Medical Stabilizes Business, Positions for Growth

AVITA Medical Inc (AVH.ASX) reported a mixed bag of results for the fourth quarter and full year 2025, but the company appears to be on the right track for growth in 2026. While Q4 revenue declined 4% year-over-year due to lingering reimbursement headwinds, full-year revenue increased 11% to $71.6 million.

The company's gross profit margin remained strong at 82.1% for the year, and it demonstrated improved financial discipline, with net cash use declining for the third consecutive quarter. AVITA also secured a $60 million credit facility with Perceptive Advisors, which will strengthen its capital structure and support long-term growth.

Looking ahead, AVITA provided 2026 revenue guidance in the range of $80 to $85 million, representing growth of 12% to 19% compared to 2025. The company is focused on disciplined cash management, sharpening execution, and accelerating commercial momentum across its core U.S. burn and trauma center opportunity.

Despite some near-term challenges, AVITA seems to have stabilized its business and is well-positioned to capitalize on its multi-product platform and improved capital structure to drive consistent growth in the coming year.

KalGold Drills Deep at Pinjin

Kalgoorlie Gold Mining Ltd (KAL.ASX) has reported promising results from its first diamond drilling program at the Kirgella Gift and Providence deposits within the Pinjin Project. The four-hole, 1,154.6-meter program, co-funded by the Western Australian Government's Exploration Incentive Scheme, has confirmed that primary orogenic gold mineralization extends to a vertical depth of 300 meters beneath the surface.

This is significantly deeper than previous RC drilling, and the new data will support future resource upgrades. The program also identified new targets for follow-up drilling to test the vertical continuity and potential repetition of the high-grade gold mineralization.

KalGold plans to undertake further RC and aircore drilling programs across the broader Pinjin Project area to continue defining the extent of gold mineralization. The company is working to advance these deposits towards higher-certainty resources and reserves, which could unlock significant value for shareholders.

With these deep, high-grade intercepts and a pipeline of exploration activities, KalGold is well-positioned to build on the potential of its Pinjin Project in the coming year.