Daily Special: FirstAu, Benz Mining, Metal Powder Works, Li-S Energy, Atomic Eagle

Australian shares traded higher at midday, with the S&P/ASX 200 up 0.66 per cent to 9,119.10 at 12.10pm AEST. Miners led the advance as BHP and Rio Tinto gained on stronger copper prices, while uranium stocks also rallied. Healthcare was stronger, helped by a jump in Ansell after its earnings outlook, while the major banks weighed on the market. Investors also remained cautious as elevated US bond yields and fresh sanctions on Iran’s trading partners kept global markets on edge.

In small cap company news, 

FirstAu (ASX:FAU) is preparing to begin its first reverse circulation drilling program at the First Hit gold deposit in Western Australia. The program will test and extend known high-grade gold zones and support work towards a maiden Mineral Resource Estimate. First Hit was previously mined in the early 2000s and produced around 29,000 ounces of gold at an average grade of about 7.6 grams per tonne.

Benz Mining (ASX:BNZ) has secured firm commitments for a $150 million institutional placement to accelerate exploration at its Glenburgh Gold Project in Western Australia. The funds will support a planned 450,000-metre drilling campaign, with six additional rigs taking the fleet to 14 as the company works towards a maiden Mineral Resource Estimate in the first half of 2027. Benz also plans to advance geological modelling and technical studies alongside the drilling program.

Metal Powder Works (ASX:MPW) has received a purchase order worth around US$200,000, or A$275,000, from Embassy Powdered Metals for pure copper powder. The order is the company’s largest to date and marks its first move into the copper infiltration segment of the press-and-sinter market. Delivery is scheduled before the end of 2026, with the company anticipating further orders as Embassy increases production.

Li-S Energy (ASX:LIS) has delivered its first lithium-sulfur battery cells to the US Army DEVCOM C5ISR Center for independent testing and evaluation. It marks the first delivery of Li-S Energy technology to a US Government agency and provides a potential pathway into US Army procurement. The batteries are being developed for applications including drones and other unmanned systems.

Atomic Eagle (ASX:AEU) has outlined a foreign Mineral Resource Estimate of 116.5 million pounds of uranium oxide at 1,282 parts per million for its Madaouela Uranium Project in Niger. The estimate is based on extensive historical drilling and technical studies but is not currently JORC compliant. Atomic Eagle plans to work towards converting the estimate to a JORC 2012-compliant Mineral Resource Estimate during 2026.