Daily Market Reports | 10:30 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
AIS AR1 ATH BM1 CNB CTE DXS FG1 HLO IEL IMU RCL RSG RXL
BM1 BALLARD MINING LIMITED
Gold & Silver - Overnight Price: $0.65
Canaccord Genuity rates ((BM1)) as Initiation of coverage with Speculative Buy (1) -
Canaccord Genuity initiates coverage of Ballard Mining with a Speculative Buy rating and $2.00 target price, viewing Mt Ida as a rare combination of asset quality, development readiness and scale upside.
The 100%-owned Mt Ida Gold Project in Western Australia hosts 1.2Moz at 3.0g/t Au in resources, with advanced approvals already in place for open pit and underground mining, a processing plant and water licencing.
The broker concludes all of the above materially de-risks the path to a standalone development decision.
A $50m, 220,000m 2026 drilling campaign is underway targeting resource growth toward 2Moz, with a definitive feasibility study and maiden ore reserve due late this year and a final investment decision targeted for the first half of 2027.
Commentary posits a credible alternative to the standalone scenario involves toll-treatment or joint venture arrangements with Aurenne Group's nearby Bottle Creek processing facility, with Aurenne's 9.6% equity stake seen aligning incentives.
This report was published on June 9, 2026.
Target price is $2.00 Current Price is $0.65 Difference: $1.35
If BM1 meets the Canaccord Genuity target it will return approximately 208% (excluding dividends, fees and charges).
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CNB CARNABY RESOURCES LIMITED
Mining - Overnight Price: $0.60
Moelis rates ((CNB)) as Buy (1) -
Carnaby Resources has released the results of follow-up drilling to test the width of its recent discovery called Miniboom.
Additional drilling at a less acute angle to mineralisation has revealed 26m at 3% copper and 0.3g/t gold and 50m at 2.5% copper and 0.3g/t gold.
Follow-up drilling at Trek 1 has also been accomplished with 85m at 1.4% copper and 0.4g/t gold.
Moelis notes the additional drilling at Miniboom could support meaningful additional tonnage and continued success at Trek 1 underscores its view on the prospectivity of the region. Buy rating and $0.95 target.
This report was published on June 9, 2026.
Target price is $0.95 Current Price is $0.60 Difference: $0.345
If CNB meets the Moelis target it will return approximately 57% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CTE CRYOSITE LIMITED
Medical Equipment & Devices - Overnight Price: $1.06
Research as a Service (RaaS) rates ((CTE)) as No Rating (-1) -
Cryosite has published a trading update for the year to April 30 that shows strong revenue and earnings growth. Revenue was up 22% while EBITDA was up 28%.
Research as a Service (RaaS) notes operating leverage is starting to show and growth in underlying demand, particularly in the ultra-frozen and cryogenic segment, was a highlight.
The company has refinanced its debt facility, extending to 2030 to provide greater certainty.
Research as a Service (RaaS) research doesn't carry any targets, ratings or recommendations. Investors can draw conclusions from valuations and commentary.
This report was published on June 9, 2026.
Current Price is $1.06. Target price not assessed.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three source
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