Australian shares were little changed at midday, with the S&P/ASX 200 down just 0.03% today to 8,794.00 at 12.24pm AEST. Energy stocks gained after Brent crude climbed above US$90 a barrel as renewed US-Iran hostilities fuelled concerns over supply disruptions and inflation. Ampol, Santos and Woodside Energy advanced on stronger oil prices, while South32 jumped after beating FY26 production guidance. Technology stocks fell following Friday’s Wall Street sell-off, while Rio Tinto and major gold miners also traded lower.
In small cap business news,
Ovanti (ASX: OVT) recruits Afterpay executives for BNPL relaunch
Ovanti (ASX: OVT) has appointed former Afterpay executives Billy Parry and Derrick Ongchin to lead the relaunch of its IOUPAY and myIOU buy now, pay later businesses. The pair will help drive the company’s expansion across Asia before a planned rollout into the US. The company said the appointments bring proven experience in scaling a global BNPL platform and support its strategy to rebuild its payments business in the rapidly growing Asia-Pacific market.
Activeport (ASX: ATV) adds third major carrier to Global Edge
Activeport (ASX: ATV) has signed GOIP Globalnet to its Global Edge network automation platform, marking the third major international telecommunications carrier to join since the platform’s launch. GOIP will use the service to automate network connectivity across Australia. The agreement is expected to support recurring revenue growth as Global Edge expands internationally. Activeport said the latest win reinforces its strategy of targeting large global carriers with its software platform.
Iondrive (ASX: ION) appoints former BHP executive as CEO
Iondrive (ASX: ION) has appointed former BHP Head of Innovation Dr Grant Caffery as chief executive officer, effective 1 August, as the company advances the commercial rollout of its IONSolv™ critical minerals recovery technology. Current CEO Lewis Utting will transition to Chief Strategy & Commercial Officer. The company said the leadership change follows strong commercial progress, including a potential US$15 million Oklahoma funding pathway and advancing feedstock and offtake negotiations, positioning Iondrive for global expansion.
Hamelin Gold (ASX: HMG) reports strong maiden drilling results
Hamelin Gold (ASX: HMG) has delivered high-grade gold results from the first 15 holes of its maiden drilling program at the Day Dawn Project in Western Australia’s Paterson Province. The results confirmed shallow, high-grade mineralisation at the Aurora Lode, including intersections of up to 3 metres at 93.4g/t gold. Further assay results are expected in early August, with a second phase of drilling scheduled to begin next month to test extensions of the mineralised system.
Taruga Minerals (ASX: TAR) secures contractor for PNG drilling
Taruga Minerals (ASX: TAR) has appointed CorePacific Drilling to undertake its maiden diamond drilling program at the Weioko Gold Deposit on Normanby Island in Papua New Guinea. The 1,000-metre program will test historical high-grade gold intersections and extend several holes that ended in mineralisation. Drilling is expected to begin during the third quarter of 2026, with the contract allowing additional metres if early results warrant follow-up work. The company said it remains fully funded for its 2026 exploration program.
