Australian shares were little changed but edged lower at midday, with the S&P/ASX 200 slipping 0.5% to 8,764.1 at 12:40pm AEST as escalating tensions between the US and Iran pushed Brent crude briefly above US$85 a barrel. Investors weighed the risk of higher energy prices driving inflation and increasing the likelihood of further US interest rate rises. Energy stocks led the market higher, with Karoon Energy, Woodside Energy and Ampol extending recent gains on stronger oil prices. Financials were the weakest sector as Westpac, ANZ, National Australia Bank and Commonwealth Bank declined, while lower gold prices weighed on miners including Capricorn Metals, Northern Star and Greatland Resources. BHP was little changed.
In small cap company news,
Synertec (ASX: SOP) expands Santos renewable energy rollout
Synertec (ASX: SOP) has secured contracts to supply two additional Powerhouse renewable energy systems to Santos’ GLNG operations, lifting the total fleet under contract to six units servicing 20–25 coal seam gas wells. The new systems, scheduled for installation in the first half of FY27, will be delivered under the existing Build, Own, Operate and Maintain (BOOM) model, which the company says generates EBITDA margins of around 90%. Management said the repeat orders demonstrate Powerhouse is becoming embedded in Santos’ field development plans, with the systems reducing gas consumption, operating costs and emissions while delivering more than 99.95% availability across six years of operation. Synertec sees further growth opportunities for the technology across the energy, mining, critical infrastructure and data centre sectors.
Immutep (ASX: IMM) strengthens patent portfolio for lead cancer immunotherapy
Immutep (ASX: IMM) has secured a fourth United States patent covering its lead immunotherapy candidate, eftilagimod alfa, in combination with PD-1 pathway inhibitors. The new patent expands the company’s intellectual property protection around one of the most widely used classes of cancer immunotherapies and is valid until January 2036.The company said the expanded patent portfolio supports future development and commercial opportunities for eftilagimod alfa as it evaluates the next steps for the program. Efti continues to be assessed across multiple cancer indications, with the therapy already holding FDA Fast Track designation in first-line non-small cell lung cancer and head and neck cancer.
Macro Metals (ASX: M4M) acquires Pilbara iron ore project
Macro Metals (ASX: M4M) has signed a binding agreement to acquire the Yandi South Iron Ore Project in Western Australia’s Pilbara, adding three exploration licences covering 56km² adjacent to BHP’s Yandi mine and Rio Tinto’s Yandicoogina operation. The project includes a historical JORC 2004 Indicated Mineral Resource of 4.28 million tonnes at 55.8% iron, with significant exploration upside across the largely untested tenure. The acquisition also provides exposure to magnetite potential, with previous drilling identifying mineralised horizons up to 150 metres thick and metallurgical test work producing concentrates grading up to 69% iron. Macro plans to update the resource to JORC 2012 standards while advancing exploration and mining studies across the expanded project area.
FlexiRoam (ASX: FRX) signs global telecom partnership to expand enterprise reach
FlexiRoam (ASX: FRX) has signed a non-binding Memorandum of Understanding with a leading global telecommunications company to jointly pursue enterprise, MVNO and B2B2C opportunities worldwide. The partnership is expected to combine FlexiRoam’s AI eSIM Platform with the partner’s global connectivity platform, extending the company’s channel-led growth strategy into major enterprise markets. The companies are targeting a binding agreement within 90 days, although the MoU does not include revenue or customer commitments at this stage. Management said the partnership validates its AI eSIM platform and creates a pathway to reach multinational enterprise customers through an established global telecommunications network.
Kinetiko Energy (ASX: KKO) targets first commercial gas production in 2027
Kinetiko Energy (ASX: KKO) says it is transitioning from explorer to producer as it advances development of its conventional gas project in South Africa. The company is targeting first commercial compressed natural gas production in late 2027 through a staged “Rolling Cluster” development strategy designed to deliver low-cost, scalable production. Management says the project is positioned to benefit from South Africa’s growing energy shortfall, with existing wells, nearby infrastructure and a certified gas resource supporting development. The company believes increasing domestic gas demand and phased expansion provide a clear pathway toward long-term commercial production.
Latrobe Magnesium (ASX: LMG) secures up to $16 million funding package
Latrobe Magnesium (ASX: LMG) has secured a binding funding agreement with global investment firm Long State that provides access to up to $16 million to complete commissioning of its magnesium demonstration plant and support future expansion. The company expects to receive up to $6 million by 30 September 2026, with the initial funding to be used to complete installation and commissioning of its magnesium metal production facilities. The remaining funding will be available at the company’s discretion to expand the demonstration plant to 1,200 tonnes per annum and complete its refinery. Management said the agreement provides flexible access to capital at a critical stage of development and supports its strategy to transition into magnesium metal production. To hear more from Latrobe,
join us the next week for Uncovering Hidden Gems webinar, 12:30 pm AEST on the 22nd July 2026.
