The ASX Daily Thursday, 16 April 2026

Top StoriesVEA — Viva Energy halts trading after significant fire breaks out at Geelong RefineryViva Energy has requested an immediate trading halt after a significant fire broke out at its Geelong Refinery — one of Australia’s key fuel refining assets and a core part of Viva’s business. The halt runs until the company releases a formal update or until market open on Monday, 20 April. Any material damage could have significant operational and financial consequences, and with the refinery critical to Australia’s broader fuel supply chain, the implications could extend well beyond Viva’s bottom line. Watch for an announcement over the weekend — this could be a major market mover when trading resumes.SVM — Sovereign Metals delivers landmark DFS for Kasiya, projecting US$2.2B NPV and world-leading rutile and graphite productionSovereign Metals has released a Definitive Feasibility Study for its Kasiya Rutile-Graphite Project in Malawi, confirming a pre-tax NPV of US$2.2 billion, a 23% IRR, and annual EBITDA of US$476 million over a 25-year mine life. The numbers are staggering — 222,000 tonnes of rutile and 275,000 tonnes of natural flake graphite per year, positioning Sovereign as the world’s largest producer of both commodities simultaneously. The DFS was completed under Rio Tinto technical oversight, with the World Bank/IFC as potential co-lead arranger and non-binding offtake MOUs already covering more than half of Stage 1 rutile output. A genuine tier-one project announcement.SLS — Solstice Minerals delivers standout copper-gold drill results at Nanadie, raises $32.6M to accelerate expansionSolstice Minerals has delivered what it’s calling the best drill result in the history of the Nanadie project — 62 metres at 1.55% copper and 0.66 grams per tonne gold, with a high-grade sub-interval of 22 metres at 2.78% copper and 1.25 grams per tonne gold. The results extend mineralisation laterally, along strike, and at depth beyond the existing 40.4 million tonne Inferred Resource, and have triggered an accelerated Phase 2 drilling campaign combining RC and diamond drilling. A concurrent $32.6 million institutional placement brings the company’s cash position to $48.4 million — the funding is in place to move fast.IFL — Federal Court approves $4.80/share takeover of Insignia Financial by CC Capital PartnersThe Federal Court of Australia has approved the scheme of arrangement for CC Capital Partners to acquire all Insignia Financial shares at $4.80 cash per share. The scheme becomes legally effective on 17 April when court orders are lodged with ASIC, with ASX trading suspended from that date. Shareholders on the record date of 21 April will receive their cash payment on 28 April. This wraps up one of the more closely watched wealth management M&A deals on the ASX — a clean exit at a firm cash price.Mid-Tier MoversGMD — Genesis Minerals has posted a record quarter — 67,497 ounces of gold produced and record underlying cash of A$252.8 million — lifting its total cash balance to A$599.9 million with zero bank debt. The company is pushing its aspirational production target to ‘ASPIRE 500’ — 500,000 ounces annually — backed by the $639 million acquisition of Magnetic Resources, which is progressing toward June completion and will lift group milling capacity to potentially 8–9 million tonnes per annum.OBM — Ora Banda Mining has had its best quarter ever: 38,766 ounces of gold, up 21% on the prior quarter, with $76.3 million in free cash flow lifting total cash to $231.7 million. A tenfold increase in the Round Dam Mineral Resource to 1.3 million ounces helped push group resources up 57% to 3.3 million ounces — a major exploration win alongside the production record.MAU — Genesis Minerals is acquiring Magnetic Resources at A$2.00 per share — a 25% premium to the last close — in a deal valuing Magnetic at approximately $639 million via Scheme of Arrangement. The Magnetic board unanimously recommends the deal, major shareholders holding nearly 20% of shares are already committed, and completion is targeted for June 2026.MM1 — Midas Minerals has announced an initial resource of 10.5 million tonnes at 1.6% copper and 21 grams per tonne silver at its T-13 deposit in Namibia — that’s 169,000 tonnes of copper and 7.1 million ounces of silver. The high-grade Main Zone grades out at 3.2% copper equivalent, starts at surface, and the system remains wide open. A $28 million placement has just been completed to fund the next phase of drilling.29M — 29Metals has delivered a painful guidance cut. Mining at the Xantho Extended orebody has been pushed back to Q4 2026 due to additional geotechnical works addressing seismicity risks, slashing zinc production by 60–70%, gold by up to 50%, and silver by up to 33%. The company insists the extra work falls within existing cost and capex guidance, but with three metals hit hard, this is a significant negative for the year.AMP — AMP has had a strong start to 2026 with Platforms net cashflows jumping 45% to $1.1 billion and a $150 million on-market share buyback now underway. The new GO deposit product has already hit $942 million in balances and full-year guidance has been upgraded to exceed $1.5 billion — solid momentum despite AUM declining due to market volatility.SRZ — Stellar Resources crossed the 100,000 tonne contained tin milestone this quarter, with a 41% jump in the Queen Hill resource pushing total Heemskirk project resources to 88,100 tonnes contained tin. Diamond drilling at Severn is hitting a new mineralisation zone 60 metres below the existing model. An updated MRE is coming in Q2, the PFS is targeted for early Q3, and $11.7 million in cash is in hand.NWL — Netwealth delivered $4.0 billion in net inflows for the March quarter, growing FUA 20.9% year-on-year to $125.8 billion despite a $3.7 billion market headwind. Managed Account FUM surged 30.4% to $27.9 billion and the individual HIN solution is on track for a July market release, targeting a $600 billion addressable market.Rapid Fire* PEN — Peninsula Energy has halted trading after discovering a February cleansing notice was legally defective — the company is heading to the Supreme Court of WA to validate share sales made before 7 April, creating real legal uncertainty for holders. Halt runs until 21 April.* BDM — Burgundy Diamond Mines is seeking retrospective shareholder approval for $43.4 million in undisclosed short-term diamond financing deals it argued were non-material — the ASX clearly disagreed. Worth watching at the upcoming general meeting.* WHC — Whitehaven Coal has priced US$900 million in senior secured notes at around 6.3% to refinance its acquisition debt, saving an estimated A$50–55 million per year in interest — a smart balance sheet move.* RAD — Radiopharm has finished enrolling all 30 patients in its Phase 2b US brain metastases imaging trial, with interim data showing 90% concordance with MRI. Full data readout expected June 2026 ahead of a Phase 3 pivot.* MNB — Minbos Resources is now fully funded to complete its Cabinda fertilizer plant in Angola after securing a US$5.48 million BFA loan, complementing the previously announced US$16 million IDC facility.* XEN — Xenitra posted preliminary Q3 sales of $8.3 million — a 300%-plus surge on Q2 — driven by its Danone nutritionals partnership with Rockcheck Group, with two new higher-margin divisions launching in Q4.* A1M — AIC Mines has now hit production guidance for eleven consecutive quarters at Eloise, generating $27.7 million in net mine cash flow in Q1 2026, with mineral resources growing 10% to 631,800 tonnes contained copper.* BB1 — BlinkLab raised A$17.5 million in an oversubscribed placement to fund its pivotal FDA 510(k) trial for its autism diagnostic tool and launch a new US ADHD clinical program — two large neuro developmental markets in the crosshairs.ASX Daily Digest · Not financial advice · Price-sensitive announcements only This is a public episode. 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