Daily Brief Australia: Paladin Energy, Santos Ltd, Nine Entertainment Co Holdings, APA Group, Beetaloo Energy Australia, Ricegrowers Ltd, Canyon Resources and more

• Ian Purdy departing Paladin Energy, with Paul Hamburrow stepping up as new CEO
• Paladin Energy facing challenges and controversies during Purdy’s tenure
• Potential implications and scrutiny surrounding Purdy’s departure and the future of the company under new leadership

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• For June 2025, 11 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$29bn.
• The average premium for the new transactions announced (or first discussed) in June was ~39%, with a year-to-date average of 47%.
• The average premiums for transactions in 2024 (129 transactions), (2023 (117), 2022 (106), 2021 (165), 2020 (158), and 2019 (145 ) were 43%, 39%, 41%, 33%, 31%, and 31%.

• A global perspective on what happened overnight

• Extra Edition of the Broker Call Report

• Beetaloo Energy Australia Limited (ASX:BTL) is a gas development company, with onshore Northern Territory (NT) gas exploration and development assets.
• BTL has the largest tenement position in the highly prospective Greater McArthur Basin, which includes the Beetaloo Sub-basin.
• The company has announced it has secured the consent (‘Consent’) for the sale of gas from EP187 (Carpentaria Pilot Project) after On Country meetings with the traditional owners across 24-25 June.

• Ricegrowers Limited, trading as SunRice (ASX:SGLLV), has released its FY25 results, delivering EBITDA of $147.7m (+4% above the PCP and in line with RaaS estimates) and NPAT of $69.5m (-6% due to a higher tax rate and 3% below RaaS estimates).
• Divisionally, Riviana (FX pressures) and Corporate (continued mill-out rate issues) were below our forecast while the other divisions were well above our forecasts, driven by margin mix (branded sales) and a cost/efficiency focus.
• The fully franked final dividend of $0.50/share was above our forecast while the Dividend Reinvestment Plan (DRP) has been reintroduced, this time partially underwritten.

• This is a transcript of the video interview in which RaaS interviews SunRice Group CFO Dimitri Courtelis following the company’s FY25 results.

Canyon Resources has provided an update on development activities at its flagship Minim Martap bauxite project in Cameroon. With the recently secured debt funding and first proceeds from the option exercise by its core shareholder Eagle Eye Asset Holdings, the company is in a strong position to continue with the accelerated project development. It remains on track for first ore production in early 2026 and first bauxite shipment in H1 CY26.