The ASX Daily Monday, 4 May 2026

Top StoriesGBR — Great Boulder acquires historic Peak Hill Gold Project from Westgold for $25M cash plus 19.9% equity stakeGreat Boulder Resources has signed a binding agreement to acquire the Peak Hill Gold Project in Western Australia from Westgold Resources, paying $25 million cash and issuing shares representing 19.9% of the company, plus a 1% net smelter royalty. The project hosts a JORC resource of 481,000 ounces and has historic production exceeding 900,000 ounces, with an Ore Purchase Agreement allowing capital-light processing through Westgold’s nearby mills — meaning Great Boulder can move toward near-term production without building its own processing infrastructure. To fund the deal, the company is raising $40 million via institutional placement at 8.5 cents per share, leaving approximately $25 million net cash post-completion. A non-binding Strategic Collaboration with Westgold also creates a potential pathway to fast-track Great Boulder’s 1 million ounce Side Well Gold Project located 25 kilometres from Westgold’s Bluebird Mill.ENP — Entropy Neurodynamics reports 75% response rate in treatment-resistant IBS Phase 2a trial, far exceeding existing therapiesEntropy Neurodynamics announced breakthrough Phase 2a results for TRP-8802, its oral psilocybin candidate, in treatment-resistant IBS patients — achieving a 75% response rate compared to just 17 to 44% for currently approved therapies. The study of 12 patients was presented at Digestive Disease Week 2026 by researchers from Massachusetts General Hospital and Columbia University, lending serious academic credibility to the findings. Subtype results were particularly striking, with IBS-C patients responding at 100%. The results are expected to de-risk the company’s next-generation IV psilocin candidate TRP-8803 and open the door to partnering discussions in the US$60 billion IBS market.BDM — Burgundy Diamond Mines’ subsidiary Ekati mine operator files for insolvency protection in CanadaBurgundy Diamond Mines’ subsidiary Arctic Canadian Diamond Company, which owns and operates the Ekati Diamond Mine, has filed for CCAA insolvency protection in Canada. The filing was driven by the perfect storm of US tariffs on natural diamonds, sustained weak global rough diamond demand, and rising fuel costs linked to Middle East conflict. Mining operations are expected to continue during the restructuring process while the company seeks financial and operational alternatives, but this is a serious situation for Burgundy shareholders and a stark reminder of how quickly commodity sector headwinds can compound.Mid-Tier MoversNGI — Navigator Global Investments is acquiring interests in 17 alternative asset managers from Stable Asset Management for US$195 million, adding US$15 billion in firm-level AUM and expecting low double-digit EPS accretion in year one. The deal is funded via a A$145 million underwritten entitlement offer and A$136 million in NGI scrip, with a long-term strategic partnership providing a pipeline of future opportunities and bringing total NGI partner firms to 29.SRZ — Stellar Resources raised $22.1 million for its Heemskirk Tin Project, anchored by a $17 million strategic cornerstone investment from Metals X — Australia’s largest tin producer — which takes a 16.4% stake and a board seat. The raise was significantly oversubscribed, lifting Stellar’s pro-forma cash to $33 million ahead of a Prefeasibility Study due Q3 2026.AX1 — Accent Group cut its H2 FY26 EBIT guidance to $23–28 million after April trading was hurt by geopolitical tensions, rising fuel prices and weakening consumer confidence, with like-for-like retail sales falling 1% and gross margins contracting 80 basis points. The company also revealed ASIC has issued notices investigating suspected insider trading in its securities between May and June 2025, involving CEO Daniel Agostinelli, a non-executive director and another senior employee — a serious governance red flag.MM1 — Midas Minerals hit its best-ever drill result at the T-13 Copper-Silver Deposit in Namibia — 50 metres at 5.55% copper and greater than 125 g/t silver, including 16.3 metres at nearly 13% copper — against an existing inferred resource of 10.5 million tonnes at 2.0% copper equivalent. With 11 holes still pending assay and plans to expand to seven rigs, this is a rapidly developing high-grade copper story.MNC — Merino and Co. locked in a three-year exclusive distribution deal covering all of Mainland China, with a minimum annual order commitment of CNY 30 million — approximately AUD 6.5 million — across e-commerce, retail and wholesale channels, including a 20% per annum minimum growth rate on renewal. The deal transitions the company from opportunistic exports to a structured, partner-led revenue model without requiring direct investment in local retail infrastructure.PNI — Pinnacle Investment Management is buying an additional 6.8% stake in Metrics Credit Holdings for approximately A$100.5 million, restoring its ownership to around 35%. Simultaneously, the National Pension Service of Korea is picking up a further 6.37% at the same implied valuation — a significant endorsement of Metrics’ value from two sophisticated investors transacting at the same price.Rapid Fire* PGO — Pacgold poured its maiden gold doré bar at White Dam in South Australia — approximately 3 kilograms or 80 ounces — just five months after acquisition, officially transitioning from explorer to producer with 200,000 tonnes of ore ready for leaching imminently.* IMR — Imricor Medical Systems raised A$60 million via institutional placement at A$1.85 per CDI to fund its US launch of the NorthStar cardiac mapping system and global expansion, leaving the company with approximately A$103 million in cash.* CML — Connected Minerals is acquiring an 80% stake in Angola’s Bailundo carbonatite complex — a seven-kilometre diameter structure with grades up to 2.1% niobium and 7.7% total rare earth elements — and is raising $4.5 million to fund exploration.* FHE — Frontier Energy’s Waroona renewable energy project was selected under the Australian Government’s Capacity Investment Scheme, securing a government-backed revenue floor until 2042 and significantly strengthening its debt financing profile with indicative senior debt terms at up to 70% gearing.* ARL — Ardea Resources’ Kalgoorlie Nickel Project was named in a joint statement by the Prime Ministers of Australia and Japan on Critical Minerals Cooperation — strong geopolitical endorsement for the Sumitomo and Mitsubishi-backed JV hosting Australia’s largest nickel-cobalt resource.* ALA — Arovella Therapeutics underwent a major board overhaul after a shareholder requisition, with the CEO and three directors resigning and a comprehensive review of the company’s technology platform now underway.ASX Daily Digest · Not financial advice · Price-sensitive announcements only This is a public episode. 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