Latest Capital Allocation News

Horizon Oil has used its Pareto Securities presentation to put record FY26 production, enlarged reserves and a multi-country drilling pipeline at the centre of its growth case. The stronger platform comes with a test: convert a long list of projects into sustained cash flow while preserving shareholder returns.

Vicinity Centres has positioned portfolio premiumisation and development execution as the engine of future growth, but its Chadstone case study also shows how quickly valuation assumptions can alter project returns. The company highlighted a potential residential expansion at Chatswood Chase alongside strong occupancy, modest gearing and a large development pipeline.

Cazaly Resources will replace managing director Tara French with mining executive Adrian Byass from 8 October, while launching a review of its exploration portfolio. Byass will receive a $325,000 annual salary and may be granted up to 7 million performance rights, subject to approval and conditions.

James Hardie has raised its FY27 Free Cash Flow target to at least US$600 million and expects to deliver its US$125 million cost synergy target roughly a year early. The company also outlined a 4% to 7% annual organic growth ambition above market, while targeting net leverage below 2.0x by Q2 FY28.

Evolution Mining has set out a capital-heavy FY27 strategy, combining a record fully franked 41 cents per share dividend with major spending across Cowal, Northparkes and Ernest Henry. The miner also plans to lift exploration and maintain gold and copper guidance, though much of the production upside remains several years away.

Focus Minerals has declared its first dividend, a fully franked A$0.08 per share payment worth approximately A$22.9 million. The distribution follows the A$250 million sale of the Laverton Gold Project and improved production from the Bonneville Underground Mine.

West African Resources delivered A$437 million in first-half net profit after tax as Sanbrado and Kiaka combined for their first full six months of production. The gold miner will return A$228.8 million to shareholders while accelerating debt repayments.

Select Harvests expects a near-record FY26 almond crop and stronger pool pricing, but wet-weather harvesting has pushed operational costs to A$13.9 million. Net debt is forecast below A$65 million at year-end, leaving the key earnings impact for the full-year results.

Piche Resources has begun a strategic review of its three remaining mineral projects and potential new opportunities after completing its rights issue, while searching for a chief executive to lead the next phase. The review will be supported by independent geological consultants, but no acquisition, disposal or revised exploration program has yet been announced.

Clara Resources has converted the sale of its non-core Kildanga nickel-cobalt project into $2.1 million of unconditional cash consideration, including $150,000 already received. The remaining $1.95 million is due by 30 September and is earmarked largely for drilling at Mareeba.

Elixinol Wellness has finalized the divestment of its US operations to Ananda Health, securing upfront and deferred payments totaling approximately A$465,000. This move refocuses the company on its Australian health and wellness portfolio while reducing exposure to US regulatory risks.

Mader Group has initiated a $30 million on-market share buy-back, signalling confidence in its valuation and financial strength while maintaining its growth strategy.