Australian shares traded lower at midday, with the S&P/ASX 200 falling 0.28% to 9,089.40 at 12:16 pm AEST and extending last week’s losses. Eight of the 11 sectors were weaker, led by consumer discretionary. JB Hi-Fi sank after record sales and higher full-year profit fell short of market expectations, while Wesfarmers, Eagers and Harvey Norman also declined. A2 Milk dropped after reporting a sharp fall in customers buying its Chinese-label products. Financials also weighed on the market, with National Australia Bank falling after warning that the Middle East conflict, higher interest rates and federal budget property tax changes were creating challenges for customers. ANZ and Westpac also declined, while Commonwealth Bank was flat. Technology stocks came under pressure as well, with WiseTech Global, Xero and TechnologyOne all trading lower.
In small cap company news,
Dimerix takes control of US development for DMX-652
Dimerix (ASX:DXB) has completed the transfer of the US Investigational New Drug application for DMX-652 from Mission Therapeutics, giving the company full ownership of the IND and control of the asset’s US clinical development. DMX-652 is a Phase 2-ready treatment being developed initially for acute kidney injury associated with cardiac surgery. Dimerix is preparing to advance DMX-652 into a Phase 2 clinical trial during the second half of 2026, following encouraging Phase 1 safety and pharmacokinetic data. The acquired program includes an FDA-approved Phase 2 trial protocol, sufficient drug product for the study and associated manufacturing methodology.
Astral Resources expands Theia Deeps with broad gold intersections
Astral Resources (ASX:AAR) has reported further broad zones of gold mineralisation from deep diamond drilling at its Mandilla Gold Project in Western Australia. Results from the Theia Deposit included 52.75 metres at 4.67 grams per tonne gold from 445.25 metres, with the latest intersections sitting below the current Mineral Resource shell. Astral has expanded the Theia Deeps program from an initial six holes to 21 holes for around 11,000 metres, targeting further extensions at depth and along strike. The company is also advancing the Mandilla definitive feasibility study and plans further exploration at Feysville and Spargoville during the second half of 2026.
Midas Minerals extends Spaatzu copper-silver mineralisation
Midas Minerals (ASX:MM1) has reported further high-grade copper-silver results from the Spaatzu Prospect at its Otavi Copper Project in Namibia, extending the drill-tested mineralised zone to at least 1.2 kilometres of strike. Results included 41 metres at 1.13% copper and 33.4 grams per tonne silver, including 20 metres at 1.83% copper and 63.4 grams per tonne silver. Two rigs are continuing exploration and resource drilling at Spaatzu, while seven rigs are currently operating across the wider Otavi Project. Midas expects initial Mineral Resource estimates for Spaatzu and Deblin, together with an updated resource for T-13, in the first quarter of 2027.
ABx Group advances Sunrise Bauxite Project approvals
ABx Group (ASX:ABX) is progressing environmental approvals for its Sunrise Bauxite Project in Queensland after appointing Onterris Australia as environmental approvals consultant. Good Importing International has made Sunrise its immediate priority after investing $2.7 million to acquire a 70% interest in ABx3, which holds the project assets. Work on the approvals process is expected to begin immediately and be completed in 2027. Meanwhile, GII’s option over ABx’s Taralga and Penrose bauxite assets has expired, leaving ABx with 100% ownership of both projects and flexibility to pursue future development, funding or partnership opportunities.
OncoSil Medical secures US FDA approval for cancer treatment
OncoSil Medical (ASX:OSL) has received US FDA Humanitarian Device Exemption approval for its OncoSil device to treat unresectable, non-metastatic distal cholangiocarcinoma, a rare form of bile duct cancer. The approval provides US marketing authorisation and makes OncoSil the first and only FDA-approved Class III device for this indication. The company estimates an addressable US population of around 1,000 patients a year, representing a potential annual market of approximately $80 million. OncoSil will now begin its US commercialisation strategy, targeting leading cancer centres and specialist oncology teams, with a US launch expected during the second half of FY27.
For more on ASX-listed companies, including Hiremii, Neurizon Therapeutics, Patagonia Gold, Horizon Gold and OD6 Metals, join us for our Uncovering Hidden Gems webinar on Wednesday 19th August at 12.30pm.
