Daily Special: Rural Funds Group, Nyrada, Liberty Metals, Noble Helium, Island Pharmaceuticals

Australian shares traded lower at midday, with the S&P/ASX 200 down 28.5 points, or 0.31 per cent, to 9,055.3 at 12.15pm AEST. Property and technology stocks led the losses, while healthcare also weakened. Energy stocks gained as Brent crude moved above US$93 a barrel amid ongoing uncertainty over the Strait of Hormuz. The major banks were mostly higher, while gold miners also found some support.

In small cap company news:

Rural Funds Group (ASX:RFF) has reported FY26 earnings of $124.1 million, up $103.8 million on the prior year, largely driven by contracted asset sales above book value and movements in interest rate swaps. Net property income increased 5.7% to $100.5 million, while adjusted funds from operations of 11.7 cents per unit and distributions of 11.73 cents were in line with forecasts. The agricultural property group has completed or contracted $314.9 million of divestments at an average 18% premium to previous book values, reducing pro forma gearing to 31.8%. Rural Funds expects FY27 AFFO of 11.7 cents per unit and distributions of 11.73 cents, while $46.7 million of planned capital expenditure is fully funded. For the full annoucement please click here and the presentation please click here.

Nyrada (ASX:NYR) has reported positive preclinical results for Xolatryp, with the drug significantly protecting heart function against damage caused by the widely used chemotherapy drug doxorubicin. The benefit was demonstrated across four measures of heart performance and was sustained from week three through to week five of the study. The level of functional protection was comparable to dexrazoxane, the approved cardioprotective agent used as a control in the study, although Nyrada noted the study was not designed to establish superiority. The results add to previously reported data showing Xolatryp’s anti-tumour activity and support its potential use alongside chemotherapy.

Liberty Metals (ASX:LIB) has commenced maiden exploration at its recently acquired Oko North and Oko South Gold Projects in Guyana. Field teams are undertaking geological mapping and surface sampling, with a systematic program of around 5,000 soil samples planned across the projects. The company holds a 90% interest in the approximately 180-square-kilometre package within the Oko gold district, where around 9.3 million ounces of gold have been delineated across the broader district. Liberty’s exploration program is fully funded following its recent $5 million institutional placement.

Noble Helium (ASX:NHE) has entered a binding agreement to acquire Earth Source Hydrogen, giving the company access to significant helium exploration acreage in Western Australia. The acquisition includes two large onshore Special Prospecting Authorities covering approximately 40,000 square kilometres in the Southern Carnarvon Basin. Water bore sampling and testing has already been completed across both areas, with independent analysis to follow after completion of the acquisition. Noble Helium said the Western Australian acreage will complement its existing Tanzanian portfolio, where preparations for drilling at Kinambo are underway.

Island Pharmaceuticals (ASX:ILA) has commissioned a second manufacturing campaign for GMP-grade Galidesivir, expanding its supply of the antiviral for outbreak response and biodefence opportunities. Following completion, expected in the fourth quarter of 2026, Island expects to have around 700 to 800 treatment courses available. The expanded inventory is intended to support potential deployment during the current Bundibugyo Ebola outbreak as well as government, procurement and biodefence opportunities. Island expects Galidesivir to be deployed in Uganda during 2026, providing an opportunity to generate human efficacy, safety and virological data during an active outbreak.