The Day’s Play Edition 68: ASX infrastructure and drilling updates | Logistics expansion, new gas sands, HMS scale and gold targets

Canyon Resources (ASX:CAY)

Minim Martap Logistics Shift Toward First Shipment

Canyon tightened control of rail and port infrastructure as Minim Martap moves toward first production.

THE PLAY

• Canyon increased Camrail ownership from 9.1% to 26.9%.

• Canyon completed a 42.8% stake in Port of Douala operator TBPD.
• Surface miner mobilised to Daniel Plateau for trial mining.
• Tracklaying preparation started at the Inland Rail Facility and port.
• First bauxite shipment remains scheduled for late Q3 2026.

THE PITCH

• Minim Martap holds a 144DMt Ore Reserve grading 51.2% Al2O3 and 1.7% SiO2.
• Minim Martap holds a 1,102Mt Mineral Resource grading 45.3% Al2O3.
• Port Access Agreement provides export rights for bauxite and alumina.
• Canyon now holds strategic positions across Cameroon logistics infrastructure.
• Seven locomotives are expected at Port of Douala in late Q2 2026.

THE NEXT OVERS

• Camrail transaction is expected to complete in Q2 2026.
• Rail wagons are scheduled to arrive in July 2026.
• Alumina refinery Feasibility Study is due in Q3 2026.

Read full ASX Announcement here.

ADX Energy Ltd (ASX:ADX)

Six New Gas Sands Shift HOCH 1 Upside

ADX Energy announced further gas intervals at HOCH 1 in Upper Austria.

THE PLAY

• HOCH 1 encountered six gas sands below the primary Hall target.

• Gas sands measured approximately 1 to 2 metres gross thickness.
• Gas sands were interpreted from cuttings and high gas concentrations.
• HOCH 1 reached 1619 metres measured depth before logging.
• Wireline logging moved to 8 May after deeper drilling.

THE PITCH

• ADX holds a 50% economic interest in HOCH 1.

• HOCH 1 is ADX’s first Upper Austria shallow gas well.
• HOCH targets Miocene Hall formation gas sandstone reservoirs.
• HOCH carries 8.0 BCF mean prospective resources.
• High case prospective resources total 17.3 BCF.

THE NEXT OVERS

• Wireline logging will assess reservoir quality and gas saturation.

• Quick look log analysis is expected on 9 May.
• Confirmed logging results would lead to casing and production testing.

Read full ASX Announcement here.

Tusker Minerals (ASX:TSK)

Douala HMS Dataset Sets Up Scale Test

Tusker Minerals outlined high grade HMS potential at the Douala Basin Project in coastal Cameroon.

THE PLAY

• Historical drilling confirmed 10m at 5.0% THM from surface.

• Historical drilling confirmed 12m at 4.7% THM from surface.
• DIB_S00010 intersected 18m at 3.7% THM from surface, ending in mineralisation.
• DIB_S00017 intersected 18m at 2% THM from surface, ending in mineralisation.
• Mineral Technologies was engaged to deliver a JORC Exploration Target.

THE PITCH

• Douala Basin covers 2,580km² of coastal sedimentary tenure in Cameroon.

• Previous Eramet work included 60 sonic holes for 1,080m.
• Eramet also completed 39 hand auger holes for 190m.
• Target minerals include rutile, zircon, ilmenite and possible monazite.
• Douala sits within 50 km of Douala deep water port.

THE NEXT OVERS

• JORC Exploration Target will quantify scale and grade potential.

• Targeted infill drilling is scheduled to begin in Q3 2026.
• Yaoundé laboratory will support analytical turnaround times.

Read full ASX Announcement here.

Mamba Exploration (ASX:M24)

20km Gold Trend Sets Up Meeka East Drilling

Mamba’s soil program converted a geological concept into multiple drill targets across a 20km Meeka East trend.

THE PLAY

• Soil sampling identified over 20km of anomalous gold strike at Meeka East.

• Lady Maud returned consistent elevated gold values across multiple sections.
• New Australian, Lady Maud and Bella defined 3 additional stratigraphic anomalies.
• Sampling confirmed gold anomalism beside cross cutting dolerites.
• EIS awarded up to $90,000 toward drilling.

THE PITCH

• Mamba holds a 70% interest in Meeka East.

• Soil sampling covered nearly 25km² of prospective ground.
• 140’ Well extends south of Great Boulder’s Mulga Bill trend.
• Samples were collected on 50m east west spacing.
• Intertek assayed samples using AR10EMS with 0.1ppb Au detection.

THE NEXT OVERS

• Heritage approvals and Programme of Work lodgements are underway.

• Initial RC drilling will target the 140’ Well area.
• Up to 50 RC holes are planned across broader anomalies.

Read full ASX Announcement here.

Amplia Therapeutics (ASX:ATX)

Narmafotinib Opens Second Oncology Pathway

Amplia moved narmafotinib beyond pancreatic cancer through an ANZGOG ovarian study targeting patients with limited treatment options.

THE PLAY

• Amplia entered an ANZGOG agreement to conduct the PRROSE ovarian cancer study.

• PRROSE will evaluate narmafotinib with carboplatin and paclitaxel.
• PRROSE targets HGSOC patients with poor response to platinum chemotherapy.
• PRROSE will enrol approximately 15 to 20 patients.
• Biomarkers will assess narmafotinib’s mechanism of action during treatment.

THE PITCH

• Narmafotinib is Amplia’s lead drug and a FAK inhibitor.

• Narmafotinib is in clinical development for pancreatic cancer.
• ACCENT combines narmafotinib with gemcitabine and Abraxane.
• ACCENT reported a 31% response rate and 7.6 month interim PFS.
• ANZGOG spans major hospitals across Australia and New Zealand.

THE NEXT OVERS

• PRROSE will enrol eligible HGSOC patients.

• Safety with standard chemotherapy will be assessed.
• Study data will examine surgical eligibility and biomarker outcomes.

Read full ASX Announcement here.

Spenda (ASX:SPX)

Ledger Sale Unlocks $7M Annualised Savings

Spenda sold Ledger while retaining customers, licensing platform access and removing $2.7M in annualised costs.

THE PLAY

• Ledger sale delivered $1.8M consideration and $2.7M expected annualised savings.

• Spenda retained all existing Ledger customers through the APG transaction.
• Spenda secured a 4 year licence for continued Ledger access.
• Ledger team and operating costs move to APG Pay.
• CTO and CPO roles combine under David Wood.

THE PITCH

• Spenda operates an integrated business platform and payment processor.

• Pay, Retail and Ledger are live, used and revenue generating.
• Spenda Pay has 160 plus active users.
• Spenda Retail has 5 Carpet Court stores onboarding.
• Spenda Ledger remains revenue generating under a licensed structure.

THE NEXT OVERS

• Transaction completion is expected on 11 May 2026.

• Spenda will scale Pay, Retail and Ledger products.
• Karim Razak will lead Spenda’s next operational phase.

Read full ASX Announcement here.