Australian shares opened the new financial year lower, with the S&P/ASX 200 down 0.18%, to 8,762.9 at 11:34am AEST. Consumer staples and financials weighed on the market after the ACCC blocked Coles’ proposed Kalgoorlie supermarket acquisition and weaker housing data pressured the major banks. Materials provided support as commodity prices strengthened. South32 rallied after agreeing to sell its aluminium value chain assets to Alcoa in a deal worth up to US$5.6 billion, while BHP traded higher. Orica also gained after approving its Hunter Valley Hydrogen Hub, with construction due to begin in 2026 and production targeted for early 2029.
In small cap company news,
archTIS (ASX: AR9) secures $3.2m Defence contract renewal
archTIS has secured a $3.2 million contract with the Australian Department of Defence, combining the renewal of its Kojensi Enterprise software licences with application development and maintenance services. The 12-month agreement includes $1 million in recurring software revenue and $2.2 million in services, with options to extend for a further two years. The award strengthens archTIS’ long-standing relationship with Defence and supports its strategy of growing recurring revenue from government customers while expanding the deployment of its secure information-sharing platform.
Buxton Resources (ASX: BUX) begins drilling at Madman gold-copper project
Buxton Resources has commenced its maiden drilling program at the 100%-owned Madman Project in Western Australia’s Paterson region, targeting a Havieron-style gold-copper magnetic anomaly. The program includes two deep diamond drill holes designed to test the prospect for the first time. The company said the campaign marks a major milestone for the project, with results expected as drilling progresses.
Godolphin Resources (ASX: GRL) identifies pathway to boost Lewis Ponds recoveries
Godolphin Resources has identified a simple processing improvement that could significantly increase precious metals recoveries at its Lewis Ponds Project in New South Wales. Mineralogical studies found removing talc ahead of flotation could lift concentrate grades and improve gold, silver and copper recoveries. The findings will be incorporated into ongoing metallurgical studies as the company works to optimise project economics and future development plans.
Imugene (ASX: IMU) reports another complete response in azer-cel trial
Imugene has reported another complete response in its Phase 1b azer-cel trial, with the first Mantle Cell Lymphoma patient treated achieving a complete response after previously failing standard BTK inhibitor therapy. The company said the result further supports the potential of its off-the-shelf CAR T therapy for patients with limited treatment options, with enrolment continuing across sites in the US and Australia.
NuEnergy (ASX: NGY) secures fully funded US$88m contract for Indonesian gas project
NuEnergy Gas has executed a fully funded field services contract worth approximately US$88 million for the development of its Tanjung Enim coal bed methane project in Indonesia. The agreement with lead contractor PT Beijing Energy Linking covers drilling, construction, testing and well completion, with costs to be repaid from future gas sales, significantly reducing NuEnergy’s upfront funding requirements. The contract supports the development of Indonesia’s first approved coal bed methane plan of development, targeting a sustainable production rate of 24 million standard cubic feet of gas per day and advancing NuEnergy’s transition to commercial gas production.
