Australian shares traded slightly higher at midday, with the S&P/ASX 200 gaining 0.21% to 9,092.10 at 12:11 pm AEST. Healthcare led the gains as CSL surged after forecasting a return to underlying earnings growth, while Pro Medicus rallied on strong full-year revenue and profit. Resources also advanced, with BHP gaining after announcing its biggest dividend in four years, while higher oil prices supported Woodside and Santos. The gains were partly offset by weakness in financials and consumer stocks, with the major banks trading lower and Wesfarmers declining. Bendigo and Adelaide Bank fell after APRA imposed licence conditions over weaknesses in its risk management framework, while Judo Capital rallied following a strong lift in full-year profit. Investors were also monitoring oil above US$90 a barrel amid renewed Middle East tensions.
In small cap company news,
AXP Energy moves ahead with first Oklahoma gas-to-power project
AXP Energy (ASX:AXP) is preparing to install its first Oklahoma gas-to-power project at the Edwards Lease in Noble County during August. The project will use a 320-kilowatt natural gas generator fuelled by production from the Charlie #1 well to power digital asset mining equipment operated by Pathfinder Partners. The project follows a successful proof-of-concept in Colorado and is designed to provide AXP with an alternative revenue stream from its natural gas production while limiting its initial capital investment. Installation and commissioning are expected this month, with the site targeted to become operational early next month.
HyTerra strengthens board as it targets further growth
HyTerra (ASX:HYT) has strengthened its board with the appointment of John Langoulant AO as an independent non-executive director and Fortescue executive Spencer Davey as a non-executive director. The company said the appointments add experience across governance, infrastructure, energy, corporate strategy and business development. Davey becomes the second Fortescue representative on HyTerra’s board, strengthening its alignment with its major shareholder and strategic partner. Benjamin Mee has also stepped down from the board to take an executive role focused on advancing growth opportunities in the US and internationally
EQT Holdings receives $24.55 per share takeover proposal from TPG
EQT Holdings (ASX:EQT) has received an unsolicited, indicative and non-binding takeover proposal from TPG Global to acquire 100% of the company through a scheme of arrangement. The proposal values EQT at $24.55 cash per share, less any dividends declared or paid. The proposal remains subject to conditions including due diligence, regulatory approvals and unanimous support from the EQT board. EQT has appointed UBS as financial adviser and Herbert Smith Freehills Kramer as legal adviser and said there is no certainty the proposal will result in a binding offer.
Raptor Metals launches major copper exploration program
Raptor Metals (ASX:RAP) has outlined an extensive exploration program for the remainder of 2026, including around 2,800 metres of maiden diamond drilling at its Coyote Project in New Brunswick, Canada. Drilling will target high-grade copper mineralisation at the Silverjack and Turgeon prospects, with work also planned to support a future resource upgrade at the Chester Copper Project. The company plans to begin drilling around 800 metres at Silverjack in mid-October, followed by approximately 2,000 metres at Turgeon in November. Raptor said the program will provide a pipeline of drilling, assay, geophysical and resource-related results through the remainder of the year.
Heavy Minerals raises $80,000 through at-the-market facility
Heavy Minerals (ASX:HVY) has raised $80,000 through its At-the-Market Subscription Agreement with Acuity Capital. The transaction involved 210,000 shares at a deemed issue price of 38 cents per share, representing a 6.58% premium to the company’s closing price on 17 August. The funds will be used for working capital. Heavy Minerals is advancing a portfolio of industrial minerals projects, including its wholly owned Port Gregory Garnet Project in Western Australia and its agreement to produce garnet from tailings at the Kanmantoo Copper Mine in South Australia.
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.
