Daily Brief Australia: Predictive Discovery, Readcloud Ltd, ADX Energy Ltd and more

In today’s briefing:

Predictive: Perseus Pitches Preferred Proposal

On the 6th October, West African mid-tier gold play Predictive Discovery (PDI AU) announced scrip-merger with Robex Resources (RBX CN/RBX AU). Upon completion, PDI would hold 51% of shares out.
Immediately, rumours circled in local media that Perseus Mining (PRU AU), PDI’s largest shareholder (17.8%), was poised to launch its own offer. That has now unfolded.
Perseus is offering 0.1360 new Perseus share for every PDI share, or an indicative consideration of A$0.778/share. PDI deemed terms superior. Robex has matching rights under its definitive agreement.

ReadCloud Limited (ASX:RCL) services the education and training sectors through the provision of digital learning content, proprietary interactive technology and support for students and educators.
The company released its FY25 full-year result (30 September year-end) but many of the data points had been pre-released so there were no real surprises.
The core strategic Australian schools-facing businesses in eBooks and VET-in-Schools (collectively 85% of FY25 group sales revenue) delivered strong results, with VET-in-Schools the standout growing revenue at 26% to $5.7m and continuing to deliver gross margins exceeding 90%.

ADX has increased its aggregated prospective gas resource estimates for its Sicily Channel permit from 103–369–772 bcf to 188–484–1,265 bcf (P90–P50–P10 cases).
The new mean prospective resource of 619 bcf reflects the increased upside potential for the permit.
Individual prospect sizes range between 37–111 bcf (P50 case), with four prospects each estimated at 60–68 bcf (P50).

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