The ASX Daily Monday, 11 May 2026

Top StoriesOML — oOh!media receives competing $1.45/share takeover bid from I Squared Capital, topping earlier $1.40 PEP offeroOh!media is now the subject of a bidding war. I Squared Capital has lobbed an unsolicited non-binding indicative offer of A$1.45 per share via scheme of arrangement, topping Pacific Equity Partners’ earlier $1.40 bid from just two weeks ago. The board has unanimously rejected both proposals as inadequate but is granting limited due diligence access to both parties to encourage higher revised bids — and is also engaging with additional third parties who may submit competing proposals. The on-market buyback has been paused. With two suitors already at the table and the board actively shopping the asset, this one has considerably further to run.ARN — Aldoro Resources confirms world’s largest strontium resource as Kameelburg MRE surges to 597MtAldoro Resources has declared what it is calling the world’s largest strontium resource — 596 million tonnes at 2.17% strontium at its Kameelburg project in Namibia, sitting entirely outside China and Iran-dominated supply chains. The overall resource has simultaneously grown 15% to 597 million tonnes at 2.49% TREO equivalent — and this is after drilling just five Phase 2 holes. Four distinct revenue streams are on the table: rare earth oxides, niobium, strontium carbonate, and a potential iron by-product, with metallurgical testwork showing 98.96% strontium extraction at ambient temperature using a simple acid leach. Exceptional numbers across the board.DTR — Dateline Resources delivers BFS for Colosseum Gold Project with US$785M NPV and 49.5% IRRDateline Resources has completed a Bankable Feasibility Study for its 100%-owned Colosseum Gold Project in California, returning a pre-tax NPV of US$785 million and an IRR of 49.5% at a base gold price of US$4,200 per ounce — rising to US$999 million NPV at current spot. The project would produce 573,000 ounces over a 10.4-year mine life, averaging 75,000 ounces per year in the first six years, with startup capital of US$249 million plus a US$25 million contingency. The company is now advancing front-end engineering and engaging project financiers — at current gold prices well above the base case, the economics here are very compelling.Mid-Tier MoversGG8 — Gorilla Gold made its fourth new gold discovery in three weeks at Comet Vale in Western Australia — Diddy Kong returned 8 metres at 3.2 g/t gold from just 14 metres depth, sitting beneath a 1 kilometre soil anomaly open in all directions. An RC rig is mobilising in May to follow up all three shallow discoveries simultaneously across the company’s six-rig operation.ELV — Elevra Lithium agreed to sell its entire stake in Ghana’s Ewoyaa Lithium Project to China’s Zhejiang Huayou Cobalt for approximately US$71 million cash — a clean exit at a meaningful valuation in a tough lithium market, with proceeds redirected to the company’s core North American assets. The deal is not contingent on Huayou’s separate bid for Atlantic Lithium.STX — Strike Energy hit the reset button on leadership. CEO Peter Stokes is out immediately after 11 months in the role, Fortescue’s former COO Shelley Robertson comes in on 1 June, and Nev Power replaces John Poynton AO as Chair from 30 June. The changes follow an independent board review and signal a clear strategic pivot from developer to integrated energy business in Western Australia.EMV — EMVision is expanding its pivotal brain scanner trial to include ischaemia detection, which covers around 80% of all stroke presentations — previously the trial only covered haemorrhage. The expansion could save up to two years and multi-millions in costs versus running a separate trial, with full enrolment targeted from late 2026 into early 2027 across nine US and Australian hospital sites.PEB — Pacific Edge is raising NZ$24 million to fund operations while fighting to get US Medicare coverage reinstated for its Cxbladder bladder cancer diagnostic tests. Revenue collapsed from NZ$21.8 million to NZ$11.5 million after losing that coverage in 2025. The key catalyst to watch is before September 2026, when Medicare contractor Novitas is expected to release a draft Local Coverage Determination that could restore reimbursement.AIS — Aeris Resources more than doubled the known strike length at its Avoca Tank copper deposit at Tritton in NSW — from under 80 metres to over 160 metres — and confirmed a new trend connecting to the central mining corridor. Mineral resource updates for both Avoca Tank and Budgerygar are expected in Q4 FY26, potentially upgrading Inferred material to Indicated.Rapid Fire* PNR — Pantoro Gold discovered a significant high-grade gold zone at the Racetrack Target just 600 metres from its OK Underground Mine, with intercepts up to 82.99 g/t gold over 2 metres, confirmed over 400 metres of strike and open to the east and at depth.* IXR — Ionic Rare Earths’ subsidiary demonstrated a world-first circular rare earth supply chain for Ford electric vehicle motors in the UK, with recycled magnets passing Ford’s durability tests at equivalent performance to virgin-mined materials — validated under UK Government funding.* AGR — Aguia Resources says its Brazilian phosphate plant is construction-ready by 15 May with an Operating Licence expected within three weeks, with its product priced 30–40% below imported alternatives due to local port supply disruptions.* SLS — Solstice Minerals extended its Nanadie copper-gold system 500 metres below the existing resource boundary in Western Australia, with visible chalcopyrite to at least 800 metres depth. Assay results are due in four to six weeks.* NHE — Noble Helium secured a rig for its Tanzania helium drilling campaign, with two shallow wells targeting depths of 430 and 1,500 metres set to spud in early July 2026 at significantly lower cost than its previous campaign.* STM — Sunstone Metals was forced by the ASX to retract all production targets from its Bramaderos Gold-Copper Scoping Study due to excessive reliance on Inferred resources. Investors should not rely on the earlier figures.ASX Daily Digest · Not financial advice · Price-sensitive announcements only This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit thelisteddigest.substack.com