Daily Special: Chilwa Minerals, Beforepay Group, Aland Equity Group, Orion Minerals, Calix

Australian shares traded modestly higher at midday, with the S&P/ASX 200 up 18.6 points, or 0.2 per cent, to 8,983 at 12.15pm AEST. The index eased from an earlier high but remained on track for its strongest weekly gain since April, with materials supporting the market as gold rebounded above US$4,100 an ounce despite softer oil prices.

Mining stocks led the gains, with BHP, Rio Tinto and Newmont advancing, while healthcare weighed on sentiment as investors took profits in CSL and Cochlear. Financials traded mixed, while Fortescue fell after announcing an impairment charge on its Iron Bridge project. Michael Hill rallied on stronger earnings guidance, Monadelphous gained after securing a Rio Tinto contract, and Ora Banda climbed on encouraging drilling results.

In small cap company news:

Chilwa Minerals (ASX: CHW) reported a strong June quarter, more than doubling the Mineral Resource at its flagship Mpyupyu heavy mineral sands project to 109.6 million tonnes while advancing rare earths and niobium exploration at Nakombe. The company also expanded its Mpyupyu West heavy mineral sands discovery, progressed a scoping study and advanced its proposed Nasdaq dual listing. During the quarter, Chilwa defined a maiden niobium and rare earth Exploration Target at Nakombe, confirmed mineralisation over a 270-metre strike and continued drilling with three rigs. The company also finished the quarter with $1.1 million in cash after incurring one-off Nasdaq listing costs. For the full announcement see here.

Beforepay Group (ASX: B4P) reported a record June quarter, with revenue rising 43% year-on-year to $14.8 million and net profit before tax increasing to $2.4 million. Quarterly advances reached $255 million, supported by growth in personal loans and the rollout of interest charges across its Pay Advance product. The company said record net transaction margin of $9.2 million and lower operating costs strengthened earnings heading into FY27. It also secured a new $100 million debt facility, expected to reduce annual funding costs by more than $1 million.

Aland Equity Group (ASX: AEG) has entered a binding Heads of Agreement to manage the marketing and sale of 56 residential lots at Elm Grove Heights in New South Wales, marking the first transaction under its capital-light property funds strategy. The company expects the project to generate substantial FY27 revenue and profitability without requiring additional equity funding. Under the model, AEG will earn investment management and marketing fees while funding development costs through a non-recourse debt facility. The company said the transaction provides a blueprint for its larger 3,200-lot Chinnerys development and future property pipeline.

Orion Minerals (ASX: ORN) has made significant progress towards completing the conditions required for its Glencore financing and offtake agreements, including receiving approval from the South African Reserve Bank. The company expects Tranche A of the financing to become unconditional and available for drawdown by the end of August. The funding will allow construction to begin at the Prieska Uppers Project, with first production targeted around 13 months after financial close. Orion said discussions on Tranche B financing are also progressing.

Calix (ASX: CXL) has received the second and final $5.7 million cash payment from PLS Group under the revised Mid-Stream Project agreement. The payment comes as commissioning of the Mid-Stream Demonstration Plant continues on schedule at the Pilgangoora operation in Western Australia. The company said successful full heat cycles of its electric calciner have demonstrated performance at design specifications, with first spodumene calcination and lithium phosphate production expected during the September quarter.