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Carnaby Resources (ASX:CNB) led the table in top 30 stocks being watched on HotCopper after becoming the focus of a proposed takeover by Evolution Mining (ASX:EVN). Under the binding scheme Evolution will acquire 100% of the issued shares in Carnaby, with the latter’s shareholders value estimated at $213 million.
The Carnaby board has unanimously recommended that Carnaby shareholders vote in favour of the scheme in the absence of a superior proposal.
The explorer’s MD, Rob Watkins, said that following the release of the Greater Duchess pre-feasibility study (PFS), Carnaby was well positioned to explore multiple pathways to advance the project, with one option being M&A.
CNB was up +60.4% at the time of going to press.
1414 Degrees (ASX:14D) jumped through Monday after it entered into a heads of agreement for a partnership to develop up to one gigawatt of AI data centre infrastructure on the Aurora Energy Precinct in South Australia. The deal is anchored on Aurora’s firmed renewable generation and storage.
The modular tech is designed for renewable generation and storage assets and can be picked up and relocated or replaced as it develops. Aurora’s combination of 33kV, 275kV grid connections with large-scale solar development and grid-scale battery storage is well matched to cater well.
14D jumped +9.52%, to 6.9c
Leading Australian petroleum company Santos (ASX:STO) and PRISM Energy International Australia have jointly marketed, sold and loaded the first condensate cargo from the Barossa gas project, off the north coast of Australia.
The cargo, comprising ~300,000 barrels of condensate, will feed SK Incheon Petrochem’s refinery in Incheon, producing predominantly naphtha and jet fuel.
The shipment is the first condensate export from the Barossa gas project. This follows the commencement of LNG production at the Darwin LNG plant, which is now producing at 97% of planned rates. MD and CEO, Kevin Gallagher, said the first condensate cargo was an important milestone for the Barossa project.
STO was down some -3.83%, to $7.67 as we went to print.
Looking wider, the ASX was up in early trade today, gaining 93.8pts.
That’s Monday’s HotCopper Trends, I’m Colin Sandell-Hay – see you for close.
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