Australian shares are slightly lower at midday, with the S&P/ASX 200 down 0.07% to 8940.3 at 12.20pm AEST, as the market pares earlier losses amid ongoing volatility in oil prices and uncertainty around the Strait of Hormuz. Brent crude is higher, trading near US$95 a barrel after sharp intraday swings, as investors assess geopolitical developments and the outlook for global oil flows.
Across the sectors, energy stocks are weaker despite higher oil prices, while financials help support the index as losses moderate. Materials are mixed. In company news, Worley flags an earnings impact from project delays, Qube warns of cost pressures, 4DMedical signs a new contract and joins the ASX 200, and Karoon Energy’s outlook is revised to negative.
In other company news,
Many Peaks defines 1.3Moz gold resource at Ferké
Many Peaks Minerals (ASX: MPK) delivered a maiden JORC Mineral Resource Estimate of 1.3 million ounces at 1.54g/t gold at its Ferké Project in Côte d’Ivoire. The resource is largely in higher-confidence categories, with 83% classified as Measured and Indicated, and supports ongoing Pre-Feasibility Study work targeted for completion later this year. The project shows strong development potential, with wide mineralised zones, favourable geometry for open pit mining, and further upside from ongoing drilling across a broader 37km gold corridor.
Brazilian Critical Minerals signs rare earths collaboration agreement
Brazilian Critical Minerals (ASX: BCM) entered a non-binding collaboration agreement with Southern Alliance Mining to evaluate potential joint development and offtake opportunities for rare earth production. The agreement includes assessing technical, commercial and logistical synergies, with a focus on advancing low-cost in-situ recovery methods at the Ema project. The partnership leverages Southern Alliance’s operational experience and is aimed at progressing toward a potential binding commercial arrangement.
Emyria launches global services platform targeting drug sponsors
Emyria (ASX: EMD) launched a new global services platform designed to support international drug sponsors with clinical delivery, establishing a dual-revenue model combining existing treatment programs with high-margin services. The platform is already operational and is expected to drive scalable, capital-light revenue growth by leveraging the company’s established clinical network and infrastructure.
