Daily Brief Australia: Light & Wonder , Sigma Healthcare, Public Holdings (Australia), Pureprofile Ltd and more

• Caledonia is looking to raise US$273m via the sale of shares in Light & Wonder (LNW AU) .
• The raising is a portfolio rebalancing by Caledonia with Caledonia indicating no more selling in the medium-term.
• In this note, we will talk about the placement and run the deal through our ECM framework.

• Sigma Healthcare’s FY26 result underscored the value of last year’s merger with the Chemist Warehouse pharmacy chain.
• Sigma Healthcare’s FY26 largely in line with consensus Slowing sales and cost growth a concern, albeit FY27 has started well Local and international store rollout continues Chemist Warehouse?
• founders looking to sell some equity

• Strategic Portfolio Realignment into Premier Western Australian Gold Belts: First Au Limited (formerly Public Holdings (Australia) Limited, ASX: FAU) has systematically transitioned into a Western Australia-focused gold explorer, anchoring its asset base around the Gimlet Gold Project (120koz Inferred JORC resource at 3.2 g/t Au) and the newly acquired Riverina East Gold Project, which hosts the historic high-grade First Hit Gold Mine.
• Exploration-Stage Financial Profile with Ongoing Capital Reliance: FAU operates as a pre-revenue mineral explorer with persistent operating losses (FY25 net loss of A$2.42m; FY24 net loss of A$0.98m). Recent capital raisings bolstered pro-forma cash reserves to approximately A$4.19m as of mid-2026, funding near-term reverse circulation (RC) drill campaigns while management undertakes a 20:1 share consolidation to rationalize its expanded share register.
• Asymmetric Exploration Leverage Balanced by Dilution and Execution Risks: While FAU offers high operational leverage to elevated AUD gold prices and regional processing synergies (proximal to Ora Banda Mining’s Davyhurst mill and Riverina mine), institutional risk remains elevated due to historical share dilution, lack of independent board representation, and inherent early-stage resource conversion risks.

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• Pureprofile Ltd (ASX:PPL) is a data analytics and consumer insights company underpinned by proprietary technology, servicing business decision makers in brands and media companies as well as market researchers.
• Pureprofile has confirmed its audited FY26 results which included a 51% uplift in reported NPAT to $2.3m, a 93% jump in adjusted NPAT to $3.7m, previously reported revenue growth of 14% to $65.0m and a 24% uplift in adjusted EBITDA to $6.5m.
• The latter two were both measures within the company’s FY26 guidance range for FY26 revenue to fall between $64m and $65m and for the EBITDA margin, excluding significant items, to be between 10-11%.

• Interview with Martin Filz CEO and Melinda Sheppard COO/CFO of Pureprofile post the company’s FY26 results.

• Sigma Healthcare’s FY26 result underscored the value of last year’s merger with the Chemist Warehouse pharmacy chain.
• Sigma Healthcare’s FY26 largely in line with consensus Slowing sales and cost growth a concern, albeit FY27 has started well Local and international store rollout continues Chemist Warehouse founders looking to sell some equity