Duratec Drops $12M to Lock In NSW Welding Firm with Clients That Could Reshape Its East Coast Play
Duratec Limited (ASX: DUR), one of Australia’s leading engineering, construction, and remediation contractors, has announced a binding agreement to acquire 100% of Pacific Welding Australia (PWA), a Newcastle-based welding and fabrication firm, for a maximum consideration of A$12 million.
The deal, executed through Duratec’s wholly owned subsidiary WPF Duratec Pty Ltd (WPF), is subject to standard conditions precedent and compliance with the ACCC’s merger control regime. Completion is expected in or before early July 2026.
What the Duratec and Pacific Welding Australia Deal Actually Covers
The acquisition is structured in two parts. Duratec will pay an upfront sum of A$6 million, adjusted for working capital movements. On top of that, a maximum earn-out of A$6 million is payable at the end of FY28, tied to a combined FY27 and FY28 EBITDA hurdle of A$6.4 million.
Any earn-out payments will be funded through WPF’s existing cash reserves. The upfront tranche comes from Duratec’s cash reserves and existing bank facilities.
PWA recorded A$14.8 million in revenue for FY25, generating A$1.67 million in EBITDA. That gives Duratec a target with a real revenue base and a clear earnings growth pathway through the earn-out structure.
Who Is Pacific Welding Australia?
Founded in 2010, PWA is an Australian-owned specialist in project-based welding, mechanical services, and fabrication. It operates across Oil and Gas, Energy, and Mining sectors, working with a broad client base from its base in Newcastle, New South Wales.
PWA operates from a 1,000m² workshop in Newcastle, NSW, serving clients across Oil and Gas, Energy, and Mining. [PWA]
In 2022, the company cemented its Hunter Region commitment by establishing a 1,000 square metre workshop. Today, PWA employs close to 60 personnel.
What makes PWA particularly attractive to Duratec is its certified status as a consignment holder of Steel Mains MSCL pipe and a licensed holder of Steel Mains Sintakote Coatings. These are niche technical accreditations that take years to build and serve as meaningful competitive barriers.
More significantly, PWA is the incumbent main contractor for fabrication, welding, and mechanical services at Orica’s Kooragang Island Facility in NSW. That client relationship alone anchors a steady and defensible revenue stream.
Why This Acquisition Matters for Duratec
Managing Director Chris Oates described the deal plainly:
“PWA is uniquely aligned to the services of WPF and provides a fantastic opportunity to scale WPF’s specialist expertise and self-perform model, while enhancing our service offering within the Energy and Mining and Industrial sectors.”
Oates added that the acquisition “further establishes WPF’s East Coast base and is a continuation of our expansion strategy within these sectors.”
That framing matters. This is not a pivot. It is a deliberate extension of what WPF already does, in a geography where Duratec has been building presence through back-to-back targeted acquisitions.
PWA joins a recent string of bolt-on buys by the Company. Duratec already acquired Hunter Coatings Pty Ltd, a specialist industrial painting and coatings contractor based in the Hunter Valley, and RGK Resources Pty Ltd, a Western Australian provider of inspection, maintenance, and rope access services. Each deal adds a specific capability or regional foothold, rather than a scattered diversification play.
The Strategic Picture: Self-Perform and Scale
The phrase “self-perform capability” is important here. In engineering contracting, the ability to perform work in-house rather than subcontracting it directly boosts margins, reduces project risk, and strengthens client relationships.
By integrating PWA into WPF’s operations, Duratec can now offer end-to-end fabrication, welding, and mechanical services on the east coast without relying on third parties for critical work. That positions WPF as a full-service national contractor in the Energy and Mining …
BHP Just Pocketed US$4.3 Billion – Here’s What It Quietly Gave Away
Mining giant BHP has completed one of the largest precious metals streaming transactions in history. On 2 April 2026, the company confirmed it had finalised a long-term silver streaming agreement with Wheaton Precious Metals, banking a US$4.3 billion upfront payment in the process.
The deal, first flagged in February, is now active. It covers BHP’s share of silver production from the Antamina copper-zinc mine in Peru, one of the biggest such operations in the world.
BHP Converts Silver Into Billions Without Selling the Mine
The BHP silver streaming agreement works like this: BHP receives the US$4.3 billion upfront. In return, it commits to delivering silver to Wheaton Precious Metals over the long term.
Under the agreement, BHP will deliver to Wheaton the equivalent of 33.75% of the silver produced by Antamina, subject to a fixed payable rate of 90%. After 100 million ounces of silver have been delivered, the stream reduces, and BHP will deliver the equivalent of 22.5% of the silver produced for the remaining life of the mine.
Wheaton will pay ongoing production transfer payments at 20% of the spot silver price per ounce of silver delivered. The settlement is completed via metal credits, with no physical delivery of silver required.
This structure lets BHP turn a byproduct metal into immediate capital while keeping its core copper and zinc exposure at Antamina intact.
What Is the Antamina Mine?
The Antamina mine sits about 270 kilometres north of Lima and is one of the world’s largest copper and zinc operations.
The Antamina copper-zinc mine is jointly owned by BHP, Glencore, Teck Resources, and Mitsubishi. BHP and Glencore each hold a 33.75% interest, Teck holds 22.5%, and Mitsubishi holds 10%.
The Antamina copper-zinc mine in Peru, co-owned by BHP, Glencore, Teck Resources, and Mitsubishi. [BHP]
In the 2025 calendar year, on a BHP share basis, the operation produced 124,200 tonnes of copper, 129,400 tonnes of zinc, and 5.4 million ounces of silver.
Silver is a byproduct at Antamina. Most of the mine’s value sits in copper and zinc. By streaming the silver, BHP frees up capital without giving away any of that core output.
Why BHP Did This Deal
This is not a distressed sale. The transaction allows BHP to monetise silver while retaining full exposure to copper, zinc, and lead production from its share of the large-scale, long-life asset.
BHP improved its capital flexibility through this US$4.3 billion silver-streaming agreement. The structure unlocked value without adding debt. Management indicated that proceeds would support copper expansion plans, including advancements at Escondida and projects within Copper South Australia, as well as the Vicuna joint venture.
That strategic direction is consistent with BHP’s broader shift toward copper as a core growth pillar. For more on that transition, see Colitco’s coverage of BHP’s share price outlook amid its copper growth push and BHP shares hitting a record high on FY26 earnings.
What Wheaton Precious Metals Gets
For Wheaton, this is a major portfolio expansion.
Upon closing, Wheaton receives a combined 67.5% of all the silver produced from Antamina, up from the 33.75% previously delivered under the existing Glencore silver stream.
The silver stream is expected to increase Wheaton’s 2026 production by 11.3% on a pro forma basis. At US$4.3 billion, the investment represents only 6.5% of the company’s total market capitalisation, underscoring strong accretion and strategic fit within its overall portfolio.
The incremental exposure to Antamina will increase Wheaton’s total estimated proven and probable silver reserves by 66 million ounces, measured and indicated silver resources by 38 million ounces, and inferred silver resources by 110 million ounces.
With Wheaton’s exposure …
Auric Mining Names Processing Lead to Drive Burbanks Mill Development
Auric Mining Limited (ASX: AWJ) (“Auric” or “the Company”) has appointed Mr. Scott Bailey to the executive role of Processing Lead, tasking him with heading the development and construction of the Burbanks Processing Facility at Coolgardie, Western Australia. Scott will commence with the Company on 20 April 2026.
The appointment arrives at a critical point for the Company. Auric acquired the Burbanks gold processing plant for $4.4 million in 2025, having identified the asset as a long-term pathway toward owning its own processing capacity. Getting the right person to lead that build-out has been a stated priority.
Figure 1: Auric Mining’s project footprint in Western Australia’s Eastern Goldfields, showing the proximity of its producing and development assets to the Burbanks processing facility. [Auric Mining]
Scott Bailey’s Credentials Fit the Burbanks Brief
Scott Bailey brings a career developed entirely in Western Australia’s gold mining industry. He began his working life at the original Burbanks Mill, which gives him a direct and personal connection to the facility the Company is now working to bring back to life.
From those early operational roles, Bailey worked through successive positions of increasing responsibility. His career has taken him through KCGM and Westgold Resources before his most recent role as Corporate Group Processing Manager at Black Cat Syndicate.
At Black Cat, he was central to two projects that will be of particular interest to Auric investors:
- The acquisition and recommissioning of the Lakewood Processing Plant.
- The refurbishment and restart of the Paulsen’s Gold Mine, which was delivered ahead of schedule and under budget.
Bailey also managed all of Black Cat’s day-to-day gold operations during his tenure. That operational depth, across both development and production phases, is the profile Auric needed for this role.
Leadership’s Take on the Appointment
Auric Chairman Steve Morris was direct about what this appointment means for the Company’s broader development plan.
“The development of Burbanks is a key plank in our transition to a fully integrated gold producer in our own right. And critical to that is putting together the team who can deliver that facility,” said Mr. Morris.
“Scott’s experience with Black Cat at the Lakewood Mill and his previous roles show that he is, we believe, the best person to plan and deliver Burbanks as a facility of the right size, at the right cost and in the best timeframe to allow us to achieve that status.”
Managing Director Mark English framed the appointment in equally clear terms.
“Scott’s appointment solves a major piece of our development and construction puzzle,” said Mr. English.
“Importantly, it lets our shareholders and everyone know how intent and focused we are on getting Burbanks up, running and operational again. It will ultimately put us in total control of our destiny. In our view: own the infrastructure, own the cash flow.”
English also flagged the broader market context driving the urgency. “Particularly in this market, where toll milling opportunities are diminishing. We have a clear strategy and focus in Auric becoming an integrated mining house in our own right.”
Why the Burbanks Mill Matters for Auric Mining’s Growth Plan
To understand the significance of this appointment, it helps to understand why the Company pursued Burbanks in the first place.
Auric has built its production track record using toll milling arrangements, where ore is transported to a third-party mill for processing. That model has worked well enough to generate profits, but it comes with limitations on cost control, scheduling, and margin capture.
Figure 2: Photograph of the Burbanks Processing Facility site near Coolgardie, WA. …
Micron Vs SanDisk AI Stock Showdown: Which Offers Greater Upside After The Dip?
The debate about Micron vs SanDisk AI stock got more intense after both stocks went down, even though they had rallies.
Micron stock went up by more than 270% in 2025 and about 13% so far this year. SanDisk stock did better, going up over 1,100% in 2025 and around 154% this year.. Then both stocks dropped sharply.
Micron stock went down over 20% in the five days, and SanDisk stock went down more than 15%. The bigger sell-off made both stocks go down as much as 25% in two weeks.
People were worried about spending and Alphabet’s TurboQuant technology, which made the stocks go down. Then both stocks went back up, with SanDisk going up about 11% and Micron going up around 5% in just one day.
Micron and SanDisk stocks go up and down after gains and a recent drop. [Courtesy: TipRanks]
Why Does Micron Vs SanDisk AI Stock Matter To Investors?
The reason Micron vs SanDisk AI stock is important to investors is that there is a shortage of artificial intelligence memory all around the world.
The demand for DRAM, NAND and high-bandwidth memory is much higher than the supply. Memory is a problem for artificial intelligence growth, according to people who study this.
This means that companies that make chips have a lot of power to set prices and can see how much money they will make. Artificial intelligence needs memory and storage solutions, and investors are watching closely as both companies benefit from these trends.
By comparing the two stocks, we can see which one has upside in the artificial intelligence cycle. It also shows how different memory segments react to changes in demand.
How Is Micron Positioned In The AI Memory Market?
Micron is a leading company that supplies DRAM and high-bandwidth memory used in intelligence systems.
The company benefits from the growing demand for cloud computing and data centres. Its fiscal second-quarter results were strong, driven by intelligence demand.
Analysts still think Micron is an investment even after the recent drop. Fox Advisors said the drop is a “buying opportunity in the coming weeks.” Wall Street thinks Micron is a Strong Buy, based on 26 Buy and two Hold recommendations.
The average price target of $533.40 means that Micron stock could go up 65% from where it is now. Another estimate says the target price is $536.55, which would be a 66.7% increase.
Microns DRAM and high-bandwidth memory help artificial intelligence data centre growth. [Courtesy: IBM]
Can SanDisk Capitalise On The AI Storage Boom?
SanDisk has a presence in NAND flash storage in both enterprise and consumer markets. The company reported solid Q2 FY2026 results, with revenue going 61% to $3.03 billion.
Its earnings per share were $6.20, which was better than expected. Analysts are optimistic about SanDisk’s intelligence-driven growth potential.
Citis Asiya Merchant said SanDisk is a Buy with a price target of $875. She highlighted the benefits of Bics8 technology and increasing data centre sales.
Wall Street thinks SanDisk is a Strong Buy, based on 12 Buy and three Hold ratings. The average price target is $700, which would be about a 15.51% increase.
Which Stock Offers Better Upside Potential Now?
When we compare Micron vs SanDisk AI stock, we see that Micron has a lot of upside potential at around 65%. SanDisk has a modest upside of about 15% to 22.3%. Micron also has a Smart Score and a bigger market value.
These things might appeal to investors who want stability and scale. SanDisk, however, has growth linked to NAND recovery and artificial intelligence storage demand.
Both stocks …
Vulcan Energy Appoints Roberto Gallardo as Non-Executive Director After Strategic Investment
Board Appointment Follows HOCHTIEF Investment Deal
Vulcan Energy announced the appointment of Roberto Gallardo as a non-executive director, effective immediately. The Company confirmed the development in an official ASX release dated 1 April 2026. The move follows a major investment by HOCHTIEF as part of Vulcan’s broader financing package announced in December 2025.
The financing arrangement included a €39 million (A$69 million) investment in the Lionheart Project entity. It also involved a cornerstone subscription of €130 million (A$232 million) in Vulcan shares. HOCHTIEF now holds a 15.41% stake in the Company. This investment gave HOCHTIEF the right to nominate a director to Vulcan’s board, leading to Gallardo’s appointment.
Vulcan Energy’s Lionheart Project site in Europe is central to the Company’s lithium and renewable energy strategy. [Australian Mining]
Strategic Partnership Expands Role in Lionheart Project
The agreement between Vulcan and HOCHTIEF extends beyond equity investment. HOCHTIEF and its subsidiary Sedgman secured roles as engineering, procurement, and construction management contractors for the Lionheart Project. The companies won the contracts through a competitive tender process.
This development strengthens the partnership between Vulcan and HOCHTIEF in delivering the Lionheart Project. The project forms a central part of Vulcan’s strategy to develop lithium and renewable energy assets in Europe. The collaboration aligns financial backing with operational execution.
HOCHTIEF and Sedgman have been engaged to deliver engineering and construction management for the Lionheart Project. [Construction Briefing]
Roberto Gallardo Brings Global Infrastructure Expertise
Roberto Gallardo currently serves as Chief Strategy Officer at HOCHTIEF and President and Executive Director at CIMIC Group. Both companies operate under the ACS Group, a global infrastructure and engineering organisation. The ACS Group employs more than 160,000 people worldwide and reported revenue of €49.9 billion in 2025.
Gallardo brings more than 30 years of international experience in infrastructure investment, construction, and business development. His work spans regions including the Americas, Europe, and Australia. His background supports Vulcan’s focus on large-scale project development and execution.
Roberto Gallardo brings over 30 years of experience across Europe, the Americas, and Australia. [Thiess]
Academic Background and Professional Credentials
Gallardo holds a Bachelor of Science in Civil Engineering and a Master of Science in Urban Planning. He completed both degrees at ETSI Caminos Canales y Puertos in Madrid. His academic training complements his practical experience in managing complex infrastructure projects.
His career includes leadership roles in multinational organisations and involvement in major infrastructure developments. This combination of technical knowledge and executive experience positions him to contribute effectively at the board level.
Board Highlights Governance and Leadership Strength
Vulcan Energy Chair Dr Francis Wedin addressed the appointment in the company’s statement. He highlighted Gallardo’s experience in large-scale infrastructure and its relevance to the Lionheart Project.
“We are pleased to have someone of Roberto’s calibre join our Board. He brings valuable skills and experience in the construction of large-scale, global infrastructure projects, which will be of significant benefit to Vulcan as we construct Project Lionheart,” Wedin said.
Wedin also noted Gallardo’s governance experience across multiple international markets. “He also has extensive management and corporate governance experience, having been a Director of several listed companies across jurisdictions including the US, Chile, Peru, Spain, Portugal, Denmark, and Australia.”
Focus on Governance and International Experience
Gallardo’s experience includes serving as a director across various global jurisdictions. His exposure to different regulatory environments strengthens the board’s oversight capabilities. This experience supports Vulcan’s operations as it expands its presence in international markets.
The board expects his input to improve governance standards and decision-making processes. His knowledge of corporate structures and compliance frameworks will support long-term strategic planning. This approach …
St George Mining Forges Groundbreaking Alliance with Boston Metal to Revolutionize Niobium Processing at Araxá
St George Mining Limited (ASX: SGQ) (“St George” or the “Company”) has taken a bold step forward in its ambition to become a global leader in sustainable niobium production. The Company announced today that it has signed a Memorandum of Understanding (MoU) with Boston Electrometallurgical Corporation (Boston Metal) to trial a cutting-edge, electrified metals processing technology at its 100%-owned Araxá niobium-REE Project in Minas Gerais, Brazil.
The alliance positions St George at the forefront of next-generation metals processing, with the potential to fundamentally change how the world produces ferroniobium, a critical alloy used in high-strength steel manufacturing and advanced technologies.
Figure 1: An aerial view highlighting the Barreiro carbonatite complex, with St George Mining’s Araxá Project marked by a red boundary. [St George Mining]
What is Molten Oxide Electrolysis (MOE)?
At the heart of this partnership lies Boston Metal’s patented Molten Oxide Electrolysis (MOE) technology, a platform developed at the world-renowned Massachusetts Institute of Technology (MIT) and commercialized by Boston Metal. MOE electrifies metals production through a highly selective and efficient process that enables the use of a wide range of feedstocks, including low-grade raw materials.
Unlike the traditional ferroniobium production process, which involves:
- Beneficiation through flotation
- Refining through hydrometallurgy (e.g., leaching)
- Conversion through an energy-intensive aluminothermic process
MOE has the potential to simplify beneficiation and eliminate the refining and conversion steps (in italic). This translates into significantly lower costs, reduced waste, and a material reduction in carbon emissions.
An added commercial benefit arises from processing slag: it is likely to contain a high concentration of rare earths, potentially lowering overall costs in the rare earth production flowsheet. This dual advantage enhances the Araxá Project’s economic proposition.
Figure 2: Diagram showing Boston Metal’s process that operates in modular MOE cells, with each unit roughly the size of a school bus.
Boston Metal: A World-Class Technology Partner
Boston Metal has attracted over US$500 million in investment from a world-class syndicate that includes global heavyweights such as BHP, BMW, Microsoft, ArcelorMittal, Vale, and Aramco. Its MOE technology has earned remarkable global recognition:
- Winner of the inaugural S&P Global Platts Metals Award for new technology in the metals and mining industry
- Named by TIME Magazine as one of its Top 100 Influential Companies in 2024
- Featured on TIME Magazine’s Best Inventions List in 2025
Boston Metal is currently commissioning its first commercial plant in Brazil to produce high-value, critical metals, including niobium, making this partnership a natural strategic fit.
Leading the Company is Mr. Tadeu Carneiro, a seasoned metallurgical engineer who spent nearly 30 years at CBMM, the world’s largest niobium producer, including a decade as CEO during which he led an extraordinary 800% increase in the global niobium market. Mr. Carneiro is also the lead independent director at Ivanhoe Mines.
Figure 3: Boston Metal’s Brazilian Subsidiary – Boston Metal do Brasil [Boston Metal]
What the Alliance Means for St George
Under the MoU, the two companies will collaborate to develop a flowsheet for ferroniobium production using the MOE technology. Each party will bear its own costs throughout the relevant workstreams. Boston Metal will apply its proprietary technology to test work on St George’s niobium material from the Araxá Project, to assess MOE’s application for commercial ferroniobium production.
Importantly, the MoU does not create an obligation of exclusivity for either party. St George retains full freedom to pursue additional partnerships and transactions involving the Project, a prudent structure that preserves optionality.
In parallel, the Company is also completing metallurgical test work using traditional processing methods that have been successfully employed in the Araxá region for over …
Microsoft Eyes Chevron Gas Power for a US$7 Billion Texas Data Centre
Microsoft Corporation (NASDAQ: MSFT), Chevron Corporation (NYSE: CVX) and investment fund Engine No. 1 have signed an exclusivity agreement for power generation and supply, the three companies confirmed on 31 Mar 2026. The deal is tied to a proposed natural gas-fired power plant in West Texas, with a projected cost of roughly US$7.0 billion, according to Bloomberg News.
Figure 1: Natural gas power plant infrastructure supporting large-scale energy generation for data centres [Courtesy: Data Center Dynamics]
No commercial terms have been finalised, and there is no definitive agreement at this time. The announcement nonetheless marks a significant step in the race by technology companies to lock in dedicated electricity supply for AI data centre infrastructure at scale.
The West Texas Power Plant at the Centre of the Deal
The proposed facility sits at the heart of what Microsoft needs most right now. The Company is expanding its AI data centre footprint rapidly to support generative AI services including Copilot.
A Plant Designed to Power an Entire Data Centre Campus
The West Texas power plant is expected to initially generate 2,500 megawatts of electricity, intended to power a large data centre campus. Chevron has indicated the facility could be operational by 2027, with a three-year ramp-up period required to reach full output.
Room to Grow Beyond the Initial Build
The plant’s design does not stop at 2,500 megawatts. According to Bloomberg, the facility may eventually expand to as much as 5,000 megawatts, making it one of the largest dedicated power infrastructure commitments in the United States tied directly to AI data centre energy demand.
How the Three Partners Came Together
The partnership did not emerge overnight. Chevron and Engine No. 1 had already announced a collaboration last year to build natural gas-based power plants next to data centres across the United States, with plans to use turbines manufactured by electric services company GE Vernova.
Chevron’s West Texas Ambitions Predated This Deal
Chevron had flagged its West Texas intentions as far back as November last year. The Company stated at that time that its first project to power an AI data centre using natural gas would be built in West Texas, with a start-up goal of 2027. The exclusivity agreement with Microsoft now gives that project a named anchor customer and a defined demand target.
Microsoft’s Broader Texas Infrastructure Push
Microsoft has been actively expanding its Texas footprint. Bloomberg News reported last week that the Company had agreed to rent a data centre project in Texas originally being developed for Oracle and OpenAI. The Chevron natural gas power deal adds a dedicated generation layer to what is shaping up as a significant Microsoft Texas power plant cluster.
The “Shadow Grid” Strategy Behind the Structure
The West Texas facility is not intended to connect to the public power grid at the outset. This structure is part of a broader approach by technology companies and energy developers to build private electricity supply chains that operate alongside, rather than through, the existing grid. Key features of this approach include:
- Bypassing grid connection timelines that can take years of planning and permitting in the United States
- Supplying power directly from a dedicated generation facility, matching the speed of the AI infrastructure buildout
- Limiting upward pressure on household electricity prices by keeping early-stage power off the public grid
- Joining a nationwide shift that now includes at least 47 comparable data centre projects, based on a Washington Post report cited by Tom’s Hardware
Microsoft is not alone in adopting this model. The shadow grid approach has quietly become standard practice among the largest technology companies racing to …
Ape Shares Growth Strategy and Canada Market Update
Eagers Automotive Limited (ASX: APE) has outlined its Canada expansion plans along with key Australian growth initiatives on 1 April 2026. The Company further stated that this growth was expected to be completed in Q2 2026.
This is thus a major international expansion move into the North American automotive retail market.
According to the firm, pre-completion requirements with the Canadian OEM partners remain on track. Cooperation between both organisations has already heightened ahead of closure.
This global strategy encapsulates a key intent to diversify revenue streams outside Australia while maintaining momentum in domestic growth.
Eagers Automotive outlines global expansion strategy with CanadaOne Auto investment. [Courtesy: GoAutoNews Premium]
Ape Canada Expansion Plans Strengthen International Growth Path
The Ape’s Canada expansion plans are a landmark in Eagers Automotive’s growth strategy. Pat Priestner, Founder of CanadaOne Auto, commented on the partnership with Eagers Automotive, “Our partnership with Eagers has been very well received across the Canadian market, with encouraging feedback from our employees and key stakeholders alike.”
He also added,” Together with Eagers, we are engaging closely and constructively with our OEM partners as part of the consent process, which is progressing as expected given the scale and structure of the transaction. We are encouraged by the collaboration already underway with the Eagers team and we are excited for the meaningful growth opportunities ahead.”
This “front-footed approach” will likely see the integration process managed well and early synergies extracted from the business. Thus, the expansion is expected to enable Eagers to tap into the vast automotive retail market in North America.
How Do Australian Acquisitions Support Ape Growth Strategy Explained?
Eagers Automotive is increasing its domestic presence through a series of acquisitions consistent with its growth strategy as described. The Company has agreed to purchase the Audi Centre Melbourne and Audi Richmond from the Zagame Automotive Group.
Together, these two metro dealerships generated revenue of around $140M for the 12 months ended December 2025. The transaction can only be approved once all the necessary approvals have been granted, with an expected completion date at the end of May 2026.
This is Eagers’ strengthening presence in the premium vehicle segment on the back of its existing Audi Centre in Newcastle.
Premium brands are, therefore, viewed as critical to driving margins upward on a sustainable basis, as well as importantly fostering customer loyalty by Eagers Automotive.
Audi Centre Melbourne acquisition strengthens Eagers’ premium segment portfolio. [Courtesy: GoAuto]
Strategic Partnerships Drive Domestic Expansion
Eagers Automotive has also entered into a non-binding term sheet to acquire 49 per cent of shares in Grand Motors Group (GMG). The portfolio covers dealerships in the Gold Coast and Metro Sydney.
During the 12 months up to December 2025, GMG produced revenue of about $490 million in total. The group covers a range of major brands including Toyota, Mazda, Subaru, Kia, BMW and Mini. It has 11 locations delivering some 6,100 new unit sales annually.
The transaction is expected to be completed by the end of June 2026, subject to approvals. Existing management and dealer partners will keep ownership stakes and run the operations.
Why Does Ape Market Update Canada 2026 Matter For Investors?
The Ape market update Canada 2026 is a two-pronged growth plan that includes an international growth plan alongside a purely domestic growth plan.
They benefit from exposure to a mature Australian environment and an emerging North American market. Finally, CanadaOne opens another geographic market with opportunities for large-scale growth.
Acquisitions in Australia are reinforcing revenue predictability and supporting product portfolio diversification. It still builds partnerships with the best-performing groups of dealerships, taking …
Perenti Appoints New CEO Vanessa Torres
Perenti Limited (ASX: PRN) has announced on 1 Apr 2026 that Dr Vanessa Torres will succeed Mr Mark Norwell as Managing Director and Chief Executive Officer. The appointment follows an extensive search process led by the non-Executive Directors of the Perenti Board in partnership with a leading global executive search firm.
Figure 1: Perenti Limited logo [Courtesy: Perenti]
Dr Torres brings more than 25 years of senior leadership experience across global mining operations. Her appointment reflects the Board’s focus on building on Perenti’s strong foundations and continuing its evolution as a fully diversified mining services group.
A Proven Leader Chosen to Drive the Next Phase of Growth
The Board of Perenti positioned the CEO search around one clear objective. The Company needed a leader who could sustain the growth trajectory delivered under Mr Norwell’s tenure and advance Perenti’s long-term diversification strategy.
Torres Comes Directly from South32
Dr Torres most recently served as Chief Operating Officer at South32, a role she was appointed to in March 2024. In that position, she held full profit and loss accountability for Worsley Alumina, Cannington and Australia Manganese.
Figure 2: Dr Vanessa Torres, newly appointed Managing Director and CEO of Perenti Limited [Courtesy: ATSE]
A Career Built Across Four Continents
Dr Torres’s career spans four continents and over 25 years in global mining. Her key roles prior to joining Perenti include:
- Chief Operating Officer, South32, appointed March 2024, with full P&L accountability for Worsley Alumina, Cannington and Australia Manganese
- Chief Technical Officer and Chief Technology Officer, South32, joined in 2018, role expanded in 2020
- Senior executive roles at BHP for 11 years, including VP Production, Logistics and Operational Infrastructure, Head of Group Investments and Value Management, and VP Business Development at Nickel West
- Director of Business Development, Vale Base Metals, Canada, led major greenfield copper, nickel, phosphate and potash projects
Dr Torres holds a Doctorate and Master’s degree in Mineral Engineering from the University of São Paulo. She also holds a Bachelor of Science in Chemical Engineering from the Federal University of Minas Gerais, Brazil, and is a Graduate of the Australian Institute of Company Directors.
What the Board Said About the Decision
Perenti Board Chair, Diane Smith-Gander AO, spoke directly to both the outgoing and incoming leaders in the Company’s announcement.
Norwell’s Legacy of Fourfold Revenue Growth Acknowledged
Smith-Gander noted that under Mr Norwell’s leadership since 2018, Perenti delivered more than a fourfold increase in revenue and achieved material improvements across all key financial metrics. She acknowledged his genuine care for people as a hallmark of his leadership.
“On behalf of the Board and the entire Perenti workforce, I would like to thank Mark for his leadership in the transformation of Perenti and for his continued support through the transition,”Smith-Gander said.
Torres Welcomed as the Right Successor
Smith-Gander described Dr Torres as a highly accomplished executive with the right combination of qualities for the role.
“The Board believes Vanessa is the right successor for Mark and is confident her leadership will build on Perenti’s strong foundations, drive our strategy forward and support the Company’s next phase of growth,”she said.
Torres on Her Appointment and the Road Ahead
Dr Torres commented directly on why this Perenti CEO announcement details matter at this moment in the mining industry.
“It is an honour to have been appointed as Perenti’s next Managing Director and CEO at such an exciting time for the business and in a pivotal moment for the mining industry. I look forward to working collaboratively with the Board and management team to continue the development and delivery of …
Turaco Gold Lifts Afema Resource to 4.65Moz in Major 2026 Upgrade
Turaco Gold has expanded its Afema Project resource in Côte d’Ivoire to 4.65 million ounces, the company’s third upgrade in under two years and the clearest signal yet that the project is maturing into something substantial.
The March 2026 Mineral Resource Estimate follows an extended drilling campaign across seven deposits on the Afema shear corridor, all sitting within a 10-kilometre radius of each other.
Afema Gold Project, Côte d’Ivoire — 2026 Mineral Resource Expansion [Turaco Gold]
The resource now stands at 115.3 million tonnes at 1.3 grams per tonne. Since the maiden estimate in 2024, Turaco has added more than two million ounces, a rate of growth that has few recent parallels in the region.
Managing Director Justin Tremain pointed to geology, drilling intensity and the sheer scale of the mineralised system.
“Afema continues to demonstrate exceptional growth potential, with several deposits still open along strike and at depth,” he said.
Tremain noted that shallow mineralisation and strong recoveries have helped the company move quickly through resource modelling.
A Rapid Rise Over Eighteen Months
The maiden Afema MRE, released in August 2024, outlined a promising but early system. By May 2025, it had reached 3.55Moz. October brought another jump to 4.06Moz. The latest update adds 590,000 ounces on top of that, driven by drilling at Woulo Woulo, Adiopan, Asupiri, Toilesso, Anuiri, Begnopan, Herman and Jonction.
Most deposits sit close together, linked by the Afema shear, a structure that had been identified as prospective for years before Turaco moved in. The exploration program has drawn on RC and diamond drilling, geophysics, soil sampling and auger drilling, with JORC-compliant modelling handled by independent consultants.
Metallurgical test work completed in 2025 returned recoveries of between 84.4% and 90.3% across key deposits. Those numbers fed into pit optimisations based on a gold price assumption of US$3,250 per ounce, underpinning the resource classification.
A Strengthening Position in Côte d’Ivoire’s Mining Landscape
Gold output in Côte d’Ivoire has risen sharply over the past decade. Where Burkina Faso and Mali once dominated West African exploration coverage, the Ivorian government’s permitting framework and investment climate have drawn increasing interest from developers.
Afema’s growth adds to that picture. For Turaco specifically, it firms up the company’s standing among ASX-listed West African explorers. The company closed 2025 with A$68 million in cash, giving it room to push toward development while keeping the drills turning.
The scale of the resource has drawn comparisons to other multi-million-ounce projects in the region. With several corridors still underexplored, the argument for further growth has not weakened.
Drilling Strategy and Technical Work Behind the Growth
Turaco ran multiple rigs through 2025, working first on near-surface delineation before extending along strike. The sequencing allowed the company to build inferred and indicated ounces without losing pace across multiple deposits at once.
Gradient array IP surveys mapped chargeability anomalies and sharpened drill targeting. Soil geochemistry defined high-priority structures, many of which are still producing strong intercepts.
All seven deposits in the MRE remain open, with the most immediate growth expected at Woulo Woulo, Herman, Jonction, Adiopan and the Niamienlessa tren, a 25-kilometre corridor that has seen minimal drilling.
Turaco’s multi-rig drilling program has driven rapid resource growth. [Small caps]
Infrastructure, Location and Permitting Advantage
Afema sits roughly 120 kilometres east of Abidjan, near the Ghanaian border. Sealed road access, nearby power infrastructure and a mining permit valid through 2033 reduce the logistical friction that slows many greenfield projects at this stage.
Côte d’Ivoire’s mining code has a reputation for relative clarity on permitting and land-use approvals.
The government has pushed for …
