The ASX Daily Wednesday, 6 May 2026

Top StoriesALX — Atlas Arteria board unanimously rejects IFM’s hostile $4.75 takeover offer as too low and opportunisticThe Independent Directors of Atlas Arteria have unanimously recommended security holders reject IFM’s unsolicited off-market takeover offer of A$4.75 per stapled security, calling it materially undervalued and opportunistic. The offer is actually below Atlas Arteria’s last closing price of A$4.79 — and IFM itself purchased securities at A$5.10 as recently as November 2025, which rather undermines the credibility of the current bid. Atlas Arteria has also filed an application with the Takeovers Panel challenging the offer’s two-tiered pricing structure, seeking to block despatch of the bidder’s statement in its current form. The company reaffirmed 2026 distribution guidance of 40.0 cents per security. This fight is far from over.CRS — Caprice Resources hits bonanza 22m @ 66.2 g/t gold in new parallel lode at Island Gold ProjectCaprice Resources has delivered its best ever drill result at the Island Gold Project in Western Australia — 22 metres at 66.2 g/t gold, including 8 metres at 181 g/t gold from just 42 metres depth. Critically, this intercept defines a brand new high-grade lode sitting approximately 120 metres parallel to the primary Vadrians lode, confirming Island Gold is a multi-lode system with significantly more resource potential than previously understood. The company is fast-tracking follow-up drilling as part of a 50,000-metre programme targeting a maiden Mineral Resource Estimate, with assays pending from adjacent holes drilled directly beneath this intercept.DGT — DigiCo sells Chicago data centre for US$750M, slashing debt and boosting financial flexibilityDigiCo Infrastructure REIT has entered a binding agreement to sell its Chicago data centre for US$750 million — a 5% premium to purchase price — with proceeds dramatically reshaping the balance sheet: net debt slashed from $1.5 billion to approximately $500 million and gearing dropping from 36% to 17%. The freed-up capital will accelerate the strategically important SYD1 88MW development project in Sydney, and the US asset sales are expected to be materially FFO accretive from FY27. DigiCo is also flagging enhanced distributions above FFO in the short term — a genuine positive for REIT income investors.Mid-Tier MoversAR1 — Austral Resources’ very first drill hole at the Snow Queen prospect in Queensland returned a standout 10 metres at 7.52% copper from just 35 metres depth, including 4 metres at 15.98% copper. The result supports Austral’s hub-and-spoke strategy of feeding its existing Rocklands processing facility with satellite copper sources, and a follow-up hole is already completed with results due in two to four weeks.BWP — BWP Trust launched a fully underwritten 1-for-12 entitlement offer at $3.77 per security — a 4.3% discount to last close — to raise approximately $228 million, funding a $163 million pipeline of large format retail developments. FY26 distribution guidance of 19.41 cents per security has been reaffirmed, and major shareholder Wesfarmers has committed to take up its full $53 million entitlement. Notably, this is BWP’s first equity raising in 13 years.EMR — Emerald Resources cleared the final regulatory hurdle for its Dingo Range Gold Project in Western Australia, receiving Works Approval from the state government and committing approximately A$30 million to purchase two Metso SAG Mills and crushing equipment. This puts Emerald firmly on the path toward becoming a multi-continent gold producer targeting 300,000 to 400,000 ounces per year across WA and Cambodia.CUF — CuFe’s scoping study for its Orlando copper-gold project in Tennant Creek delivered an NPV of A$705 million against pre-production capex of just A$141 million — an IRR of 111% and a 10-month payback. Gold drives 66% of revenue, bismuth and silver add further streams, and the company is exploring a fast-start toll-treatment option to generate early cash flow while pursuing offtake and strategic investor discussions.SVY — Stavely Minerals confirmed a roughly 2-kilometre by 750-metre hydrothermal breccia system at Freddy’s Find in western Victoria, with multiple gold-silver intercepts including 16 metres at 1.09 g/t gold equivalent. The mineralisation style suggests a fertile porphyry-epithermal system, and a deep 300-metre diamond drill hole is planned for late May to test depth potential.CPN — Caspin Resources extended its Kelpie tin deposit in NSW by more than 75 metres beyond the current resource, with hole BRC033 hitting 21 metres at 0.78% tin including 5 metres at 1.54% tin. The Stewart Fault Zone mineralised strike has more than doubled, a further 3,000 metres has been added to the drill program, and 15 holes are still awaiting assays.Rapid Fire* ALX — In a related development to the Atlas Arteria takeover battle, the company applied to the Takeovers Panel challenging IFM’s two-tiered pricing structure — $4.75 rising to $5.10 if IFM hits 45% — as legally flawed and inadequately disclosed, seeking to block despatch of the bidder’s statement.* AVR — Anteris Technologies enrolled its first US patients in the pivotal PARADIGM trial for its DurAVR transcatheter heart valve at Montefiore Medical Center in New York, a significant step that expands recruitment capability following CMS approval.* DUR — Duratec won a $68 million sub-contract to construct a Blast and Paint Facility at the Darwin Ship Lift, reinforcing its defence and marine sector focus with work commencing June 2026.* AQD — AusQuest’s Cangallo copper-gold porphyry system in Peru has grown to over 1,500 metres of confirmed strike with grades topping 1% copper, and a 5,000-plus metre diamond drill program is planned for late May to test higher-grade sulphide extensions at depth.* SKY — Sky Metals lodged a Scoping Report to kick off the formal NSW State Significant Development approval process for its Tallebung tin-tungsten-silver project, with an updated resource and Pre-Feasibility Study due this quarter incorporating over 500 drill holes.* DAI — Decidr AI Industries raised $15 million via placement at $0.61 per share to fund its Sugarwork AI platform growth, M&A activity and sovereign compute initiatives.* AZJ — Aurizon reaffirmed its FY2026 EBITDA guidance of $1.68–1.75 billion and dividend of 22–23 cents per share despite a temporary $10 million fuel timing headwind expected to reverse in coming periods, with ten-month volumes positive across all segments.ASX Daily Digest · Not financial advice · Price-sensitive announcements only This is a public episode. 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