The Australian sharemarket looks set for a softer start, with ASX 200 futures down more than 9 points (-0.10%) at the open. This follows a modest gain yesterday, when the benchmark closed 19.5 points higher (+0.22%) at 8,980, supported by strength in financials and real estate but capped by weakness in energy and materials.
Small caps again lagged broader indices, with the Small Ordinaries down 0.67% and the Emerging Companies Index off 0.90%, even as large-cap financials helped keep the overall market in positive territory.
On the final day of reporting season, several other company announcements were trickling in on Friday morning.
Asian Battery Metals ramps up Oval drilling
Asian Battery Metals PLC (ASX:AZ9) is advancing its Oval copper-nickel-PGE discovery in Mongolia with fresh drilling results and plans for a new campaign. Since restarting Phase 3 drilling, the company has completed eight holes totalling 1,017 metres, intersecting thick down-dip extensions of mineralised zones in several holes.
Follow-up downhole electromagnetic surveys have outlined additional high-priority conductive plates yet to be tested, while step-out drilling is scheduled for September. Phase 4 diamond drilling will also get unde rway shortly, with rigs moving to new targets at MS1, MS2, Quartz Hill and Maikhan Uul.
Percheron receives $1.43 million R&D rebate
Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) has boosted its balance sheet with a $1.43 million Research and Development (R&D) Tax Incentive rebate for the 2025 financial year. The rebate relates to expenditure on eligible R&D activities undertaken both in Australia and overseas.
The international biotech, which is focused on developing novel oncology and rare disease therapies, said the funds would be directed towards advancing its new clinical asset, HMBD-002. The company is currently building a clinical development plan for the drug in collaboration with clinicians and advisors, with trials scheduled to resume in calendar 2026.