Briefcase: Business snippets from critical minerals deal to major insurance business award
In this week’s Briefcase, an SA property developer announces its plans to expand The Buckingham’s affordable housing and Santos releases its quarterly report.
Adelaide broker wins national award
SA developer to increase affordable housing
Papyrus raises capital for ongoing contract
Santos releases Q1 2026 report
Resolution Minerals announces mineral deal with US
Adelaide-based business wins national award
Adelaide-based company Guardian Insurance Brokers has been named Insurance Business Australia’s Large Brokerage of the Year for the second consecutive year.
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The award recognises excellence across client outcomes, customer retention, financial performance, sustainable growth and stakeholder engagement.
Judges said that Guardian scored the award for its strong focus on advocacy and claims support for clients across South Australia.
“It’s an enormous achievement to win this award once. To be recognised again, in consecutive years, is testament to our entire team’s unwavering commitment to putting our clients’ interests first,” Guardian CEO Angelo Stathopoulos said.
SA developer to increase affordable housing
SA developer Citify is planning to increase the number of affordable properties in The Buckingham apartment and retail precinct at Gilberton.
Citify has lodged a planning variation with the State Planning Commission to deliver 46 affordable properties, which would include 32 rental apartments and 14 supported accommodation units for people living with disabilities.
The Buckingham will feature 185 properties, including 126 residential apartments and 13 terrace apartments, 251 basement carparks, a gym, pool, restaurants, retail and a dog-washing station.
“This change will mean over 25 per cent of properties in the project will be considered affordable,” Citify managing director Joel Wilkinson said.
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Papyrus raises capital for ongoing contract
Papyrus Australia has announced it is raising capital from several sources to support ongoing commercial activities.
The capital includes $175,000 from professional investors, short-term loans totalling $150,000, $263,846 converted from current short-term loans, and a further $264,279 in existing short-term loans if approved by shareholders. Papyrus also intends to raise a further $536,154 in future.
The funds are intended to support the company’s commercialisation activities, as well as delivery of an ongoing Papyrus contract with TBS Mining Solutions. This contract concerns the supply of biodegradable boards with applications within the mining industry.
Papyrus will hold an Extraordinary General Meeting in June to seek shareholder approval for the changes.
Santos releases Q1 2026 report
Santos have released its report on Q1 of 2026 with reports indicating a disciplined financial performance which confirms Santos’ guidance for the rest of 2026 is unchanged.
According to the report, sales revenue at Santos is up 3 per cent on last quarter, reaching a figure of approximately $1.27 billion.
The report touts several reasons for Santos’ success. Managing Director and CEO Kevin Gallagher pointed to challenges faced by the company, as well as projects important to Santos’ success in Q1.
“During the quarter, Santos strengthened its strategic position in Australia through key commercial outcomes, including a long-term gas supply agreement with the South Australian Government and a final investment decision on the Moomba Central Optimisation project,” Gallagher said.
Resolution Minerals announces mineral deal with US
Resolution Minerals has announced it has received firm funding commitments for a $20 million placement.
Announced on April 23, this funding is intended to accelerate Resolution’s critical minerals strategy in the United States, with funds to be utilised to accelerate drilling and other activities at the Horse Heaven project in Idaho, USA.
Resolution is currently focused on securing domestic supply of critical minerals such as tungsten, antimony, and gold, in what it describes as “a time of increasing geopolitical focus”.
“Following a highly successful drilling campaign last year, today’s successful capital raising marks a transformational milestone for the company as it is about to list on the NASDAQ as well as launch its second drill campaign in the coming weeks,” Resolution executive director Aharon Zaetz said.
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