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In this daily HotCopper Trends column, we break down the top Oz stocks through each trading day.
RAS Technology (ASX: RTH) was up after it entered into a binding scheme implementation deed with UK-based The Press Association, a subsidiary of PA Media Group.
RAS shareholders will receive $1.04 cash per share1, a significant 93% premium to RAS’s last closing price of $0.54 and an 80% premium to the 90-trading day VWAP.
The RAS board has unanimously recommended that shareholders vote in favour of the scheme, and each RAS director intends to vote in favour of the scheme.
“The all-cash price of $1.04 per share, at a significant premium to recent trading prices, recognises the value of the data, technology and media assets Racing and Sports has built since 1999. The PA has a long heritage in racing data, and we believe it is well placed to support our people and customers through the next phase of growth,” RAS chair, Andrew Twaits, said.
RTH was up 85.2% to $1.00.
Cleanaway Waste Management (ASX: CWY) has entered into a scheme implementation deed (SID) with Sedum Group, an entity owned by funds managed, operated and/or advised by the EQT AB Group, under which the bidder has agreed to acquire 100% of the shares in Cleanaway by way of a scheme of arrangement.
Under the terms of the scheme, Cleanaway shareholders will be entitled to receive $3.095 cash for each Cleanaway share.
“The board has carefully assessed EQT’s proposal against the value of Cleanaway on a standalone basis, including the opportunities ahead of us under Blueprint 2030 2.0 and the investment and execution required to deliver them,” chair, Samantha Hogg, said.
“Following a disciplined process and engagement with EQT, the board is unanimous in its view that the Scheme delivers strong and certain cash value to shareholders, at a significant premium to Cleanaway’s undisturbed share price.”
CWY rose 19.8% to $2.96.
Skylark Minerals (ASX: SKM) has unveiled a major increase in the mineral resource estimate (MRE) for its flagship Zaranou gold project in Côte d’Ivoire.
contained gold has more than tripled to 1.20 million ounce following the company’s maiden systematic drilling program at the M’Basso prospect.
In conjunction with the MRE update, Skylark has entered into a revised binding agreement to accelerate its ownership of Zaranou from 51% to 90%, at a cost of US$1.2 million, providing substantially greater exposure to the enlarged Resource and future growth potential.
“This is an excellent update for Skylark and the first real demonstration of the scale we believed was possible when we acquired Zaranou,” executive chair, Nikolai Zelenski, said.
“In less than 12 months, we’ve taken the Zaranou Resource from around 365,000 ounces to 1.2 million ounces of gold, with almost all that growth delivered via our first systematic drilling programme at M’Basso at an estimated discovery cost below A$9 per additional ounce. That’s a very strong outcome for the team and a clear validation of the exploration approach we’ve taken.”
SKM was up 17.1% to 24.0c.
Looking wider, the S&P/ASX 200 was up today, gaining 20.80 points or 0.24% to 8,827.50 and setting a new 20-day high. Over the last five days, the index has gained 0.50% and 1.30% year to date.
Meanwhile, Australia’s largest accounting body CPA Australia says the audit profession continues to work constructively with ASIC to improve audit quality, while trustees must remain accountable for the valuation of super fund investments.
CPA Australia has welcomed the release of ASIC’s report, Accounting for your super: Super fund financial reporting and audit 2025–26, which identifies improvements in audit quality while highlighting ongoing challenges associated with valuing increasingly complex and less transparent investments. ASIC’s review found persistent concerns around the valuation of unlisted investments and whether trustees and auditors have access to sufficient information to appropriately challenge valuation assumptions.
CPA Australia audit and assurance lead, Tiffany Tan, said the report demonstrates progress across the profession, while also highlighting broader challenges facing the superannuation sector as investment portfolios are inherently complex.
“CPA Australia sees ASIC’s findings as evidence of a sector that is continuing to mature its approach to audit quality and valuation governance. While the second-year report identifies areas for improvement, it is encouraging that firms have responded constructively through remedial actions designed to strengthen audit quality and deliver better outcomes for super fund members,” Ms Tan said. That’s Monday’s HotCopper Market Trends, I’m Colin Sandell-Hay - see you for close.
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