Carnaby Surges 60% on Evolution Mining's $213M Takeover Bid

Peers with similar stage assets – small-cap explorers with published scoping or pre-feasibility studies on copper or gold projects – could attract second-look interest from mid-tier producers looking to replenish pipelines. Any of the ASX-listed juniors with a defined resource and a path to a feasibility study is now a potential target, brokers said.

1414 Degrees (ASX:14D) also moved higher Monday after signing a heads of agreement to develop up to one gigawatt of AI data centre infrastructure at the Aurora Energy Precinct in South Australia. The deal is anchored on Aurora's firmed renewable generation and battery storage. The company's modular technology can be relocated or replaced as capacity expands, it said.

Santos (ASX:STO) loaded the first condensate cargo from the Barossa gas project off northern Australia, a ~300,000-barrel shipment bound for SK Incheon Petrochem's refinery in South Korea. The cargo will produce naphtha and jet fuel. Santos MD and CEO Kevin Gallagher called the first condensate export an important milestone for Barossa, which follows the Darwin LNG plant reaching 97% of planned production rates.

Shares in Carnaby were up 60.4% at the time of writing. Santos fell 3.83% to A$7.67. The broader ASX gained 93.8 points in early trade.