A2 Milk (ASX: A2M) rose 3.63% to A$7.99, taking its one-month gain to 54%. The company said supply-chain issues affecting its China label infant milk formula business have now been mostly resolved, with channel inventory back to target levels. It also flagged preliminary FY26 results, including revenue of about NZ$1.97 billion (up more than 12% on FY25), an EBITDA margin at the top end of its 14% to 14.5% guidance range, and cash conversion of around 70% versus prior guidance of 50%.

The Supreme Court of New South Wales has approved Qube Holdings’ (ASX: QUB) scheme of arrangement with Rubik Australia, removing the final regulatory hurdle for the takeover. The court orders are due to be lodged with ASIC on 8 July 2026, after which the scheme will take legal effect. Once effective, all QUB shares will be compulsorily acquired by Rubik Australia at the agreed price, and Qube shares are set to be suspended on the ASX after the close of trading that day before the company is delisted. Shareholders do not need to take any action and will receive the cash consideration.

International oil prices pulled back sharply, with WTI falling to US$69.14 a barrel and Brent to US$72.35, taking both benchmarks below key psychological levels. The drop comes as US-Iran talks show progress and tanker movements through the Strait of Hormuz rebound to 14 ships a day. Weak demand signals from China added pressure after May crude imports came in at 7.82 million barrels per day, the lowest since 2018 and 38% below February. ASX energy shares also retreated, with Woodside and Santos each down nearly 15% over the past month.

New Murchison Gold Ltd (ASX: NMG) said the Mineral Resource Estimate at its Garden Gully Gold Project in Western Australia rose 47% to 359,000 ounces, with 71% classified as Measured and Indicated. The update reflects new drilling results and revised structural interpretation, including a 39,000-ounce Measured resource at the Crown Prince Open Pit deposit. The company’s update came as the gold price briefly slipped below US$4,000 per ounce and the S&P/ASX All Ordinaries Gold Index fell 3.9%.

Nickel Industries Ltd (ASX: NIC) said it has agreed to invest US$169 million for a 17.5% stake in the PT Teluk Metal Industry (TMI) HPAL project in Indonesia, with payment expected in November 2026. The company said TMI has annual nameplate capacity of about 38,640 tonnes of nickel in mixed hydroxide precipitate (MHP), implying roughly 6,775 tonnes a year of attributable nickel based on Nickel Industries’ stake. The transaction includes a construction guarantee that caps the acquisition cost at US$169 million and requires TMI to reach nameplate capacity by September 2027. Nickel Industries said it expects to fund the investment from cash reserves and operating cash flow, with major shareholder Shanghai Decent providing debt funding on commercial terms if needed.

Nickel Industries said it will pay US$169 million for a 17.5% interest in Indonesia’s TMI HPAL project, securing battery-grade nickel supply of about 6,775 tonnes a year from September 2027. The company said the project comes with cost and schedule protections, including a construction guarantee tied to delivering nameplate capacity by September 2027. Nickel Industries said it will fund the investment from existing cash and operating cash flow.

Santos (ASX: STO) said its Pikka Phase 1 oil project in Alaska has begun continuous production, with output expected to build toward a plateau of about 80,000 barrels per day in the third quarter of this year. The company said the Barossa project is also ramping up, and the two developments are expected to materially increase free cash flow. Santos shares are up 21.6% this year including dividends, and the stock trades on a 4.8% trailing dividend yield. Management has targeted allocating at least 60% of free cash flow to shareholder returns and reducing net debt by $2.5 billion by 2030.

Catalyst Metals Ltd (ASX: CYL) updated the mineral resource estimate for its Trident underground gold project, lifting indicated resources by 20% to 633,000 ounces at an average grade of 6.3g/t, supporting a roughly 10-year steady-state mine plan. The company is progressing underground development and expects first production in the first half of calendar year 2027. The update strengthened expectations around project economics and delivery, alongside a firmer gold price and a modestly higher ASX 200, with CYL shares up 3.6%.

Aeris Resources has acquired Peel Mining, gaining the Mallee Bull and Wirlong copper projects with a combined 197kt of contained copper. Added to Tritton’s existing base, Aeris’ total copper resource in the Cobar region rises to 511kt. Bell Potter kept a Buy rating and a A$0.90 target price, implying 120% upside from the stock’s 40.2 cents level, according to the broker.