The ASX Daily Wednesday, 03 June 2026

Top StoriesMP1 — Megaport raises A$827M to build AI inference cloud with A$459M in new GPU contractsMegaport is raising a whopping A$827 million via a fully underwritten 1-for-3.08 non-renounceable entitlement offer — one of the largest ASX tech capital raises in recent memory. Four new AI infrastructure contracts worth A$459 million in total contract value have already been secured, and the company is establishing a A$350 million on-demand GPU Pool targeting enterprise and sovereign AI markets. Pro forma Group ARR jumps to A$662.9 million, with the compute division alone hitting A$385.2 million. This is one of the biggest strategic transformations we have seen from an ASX technology company in years — Megaport is no longer just a network company.STN — Saturn Metals delivers record 26% resource upgrade at Apollo Hill, lifting gold inventory to 2.83 million ouncesSaturn Metals has delivered a record 26% resource upgrade at Apollo Hill in WA — the largest single increase in the project’s history — adding 590,000 ounces to push total gold inventory to 2.83 million ounces following a 367-hole drilling program. The higher-confidence Measured and Indicated category now stands at 2.19 million ounces, representing 77% of the total resource — a strong foundation for a Definitive Feasibility Study and updated Ore Reserve both targeted for late 2026. Mineralisation remains open in multiple directions, so the resource could keep growing.ALD — ACCC approves Ampol’s acquisition of EG Australia with 41-site divestiture conditionAmpol has received ACCC approval to acquire EG Australia for approximately $1.115 billion in cash, combining its 622-site network with EG’s 512 retail fuel sites. The condition is a divestiture of 41 sites to Metro Petroleum — already approved as the buyer, so no further regulatory hurdles remain. Ampol elected to cash-settle the scrip component rather than issue new shares, preserving full earnings accretion for existing shareholders. Targeted synergies of $65 to $80 million are on track, with the deal expected to close 30 June 2026.Mid-Tier MoversDXN — DXN landed its maiden AI high-performance computing contract — an A$8.8 million deal with a US-listed neo-cloud operator to build a 1.36MW modular data centre, with manufacturing starting immediately at its Welshpool facility. The pilot is explicitly structured as a proof-of-concept with the customer flagging intent to scale to a campus programme worth potentially USD$200 million or more. Transformative potential for a small-cap.49M — 49 Metals hit its best-ever intercept at Gold Mountain in Nevada’s Walker Lane — 9.1 metres at 21.9 g/t gold within a broader 27.4 metre hit at 8.3 g/t. The company interprets this as a structurally controlled feeder structure that could significantly expand the scale of the epithermal gold system, with four more holes still awaiting assay.ACF — Acrow’s Industrial Access division smashed through $200 million in revenue for FY26, up roughly 50% on the prior year, driven by organic growth and two acquisitions performing ahead of expectations. The division has already locked in circa $180 million of FY27 revenue including a renewed Glencore contract — strong earnings visibility heading into the new financial year.EQR — EQ Resources received board approval for a A$39 million expansion at its Mt Carbine tungsten mine in Queensland that will double crushing capacity to 2 million tonnes per annum by Q3 FY2027. The project adds an initial 500 tungsten trioxide tonnes per annum and is fully internally funded — no dilution required.MX1 — Micro-X captured the world’s first Carbon Nanotube Cone Beam CT human brain images at Royal Melbourne Hospital — a genuine world-first in its miniature head CT scanner for stroke diagnosis. A blind multi-centre pilot study across 108 patients at four sites is now underway, and a $0.4 million MRFF milestone payment has been triggered.TVN — Tivan secured a guaranteed minimum $15 million through a $10 million option underwriting backstopped by Regal Partners and a $5 million placement to the Tuckwell family office ETFS Capital at $0.30 per share — funding accelerated development across its Australian and Timor-Leste projects with no equity discount on the placement.Rapid Fire* SMX — Strata Minerals completed Phase 2 drilling at Zelica Gold in WA with a 94% hit rate across 17 holes — best intercept 12 metres at 2.08 g/t gold — with a maiden JORC resource and development partner already secured and less than 15% of the 9.5 kilometre corridor tested.* GML — Gateway Mining returned 10 metres at 2.2 g/t gold including 2 metres at 9.2 g/t at the new Celia South prospect, extending its Yandal system 20 kilometres south. RC drilling kicks off 15 June.* VYS — Vysarn is acquiring WA irrigation and water infrastructure business NewGround for up to $25 million cash and 33 million shares, expected to be 25% earnings per share accretive on a pro forma basis.* PMT — PMET Resources extended its Mickel LCT Pegmatite Trend from 5.5 to 10.5 kilometres in Quebec with new caesium, lithium and tantalum discoveries — standout surface grades include 16.43% caesium oxide.* PGO — Pacgold is demerging its North Queensland gold assets into Emerald Resources-backed Manda Resources, which will assemble a 1.33 million ounce resource ahead of a minimum $21 million ASX IPO later in 2026.* CYP — Cynata received a positive EMA paediatric committee opinion for CYP-001 in acute graft versus host disease — a mandatory EU hurdle cleared, opening the path to Phase 3 trials in a market twice the size of the US.* MAP — Microba Life Sciences halted trading ahead of a material capital raise and break-even update. Watch for the announcement before Friday’s open.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