Highlights

• Pantoro Gold reported further high-grade drilling results at its Racetrack discovery, extending the mineralised strike to approximately 900 metres.
• Codan revised the remuneration and employment terms of Managing Director and CEO Alf Ianniello, effective from 1 July 2026.
• Alkane Resources disclosed an on-market sale of 25 million ordinary shares by an entity associated with director Bradford Alan Mills.

Australian stocks Pantoro Gold Limited (ASX: PNR), Codan Limited (ASX: CDA) and Alkane Resources Limited (ASX: ALK) were in focus on 16 September 2026 following separate company updates. Pantoro Gold advanced after reporting further high-grade drilling results from its Racetrack discovery, while Codan announced revised remuneration and employment terms for its Managing Director and CEO. Meanwhile, Alkane Resources disclosed an on-market sale of 25 million ordinary shares associated with director Bradford Alan Mills. The developments came as the three stocks recorded notable gains in the market.

Pantoro Gold Extends Racetrack Mineralisation

Pantoro Gold Limited was trading at AU$2.820, up 9.30%, after the company released a drilling update on 16 September 2026. The results showed that the Racetrack discovery at its 100%-owned Norseman Gold Project continues to expand. The latest drilling returned several high-grade intersections, including 11.12 metres at 5.48 g/t gold, 2.0 metres at 24.11 g/t, and 1.29 metres at 51.46 g/t. Pantoro reported that infill drilling has established a high-grade mineralised zone spanning around 900 metres of strike, extending from near-surface levels to approximately 600 metres depth, with further mineralisation remaining open to the east and at depth. The company plans to commence development of an approximately 450-metre exploration decline from the OK Underground Mine during the December 2026 quarter. Three surface diamond rigs, together with an RC rig, are currently carrying out drilling to advance the project towards its maiden Mineral Resource estimate.

Codan Updates CEO Remuneration

Codan Limited gained 7.51% to AU$48.940 following its 16 September 2026 announcement regarding revised employment and remuneration arrangements for Managing Director and CEO Alf Ianniello. Under the updated agreement, the CEO will receive AU$1.8 million in annual fixed remuneration, including superannuation. The short-term incentive is AU$1.8 million at target, with a maximum opportunity of AU$2.7 million. The long-term incentive is AU$1.35 million at target and AU$3.15 million at maximum.

Alkane Resources Reports Director Share Sale

Alkane Resources Ltd rose 4.92% to AU$1.920. An Appendix 3Y notice records that 25 million ordinary shares associated with director Bradford Alan Mills were disposed of in an on-market sale on 9 September 2026 at AU$1.80 per share. The indirect interest held through CE Mining III MND Limited subsequently fell from 101.54 million to 76.54 million shares.

Market Outlook

The latest announcements have placed Pantoro Gold, Codan and Alkane Resources in focus, with each company delivering a separate update that may attract market attention. Pantoro Gold’s latest drilling results provide further information on the scale and continuity of mineralisation at its Racetrack discovery, with the mineralised zone now extending across approximately 900 metres and remaining open to the east and at depth. The company is also preparing to develop an exploration decline from the OK Underground Mine in the December 2026 quarter. For Codan, the focus is on the revised employment and remuneration arrangements for its Managing Director and CEO, including fixed remuneration and performance-based short- and long-term incentives. The company said the revised arrangements followed external benchmarking against a selected group of ASX-listed companies. Meanwhile, Alkane Resources has disclosed a change in a director-related shareholding following the disposal of 25 million ordinary shares through an on-market transaction. The disclosure provides the market with details of the transaction and the resulting shareholding position associated with Bradford Alan Mills. Together, the updates highlight different areas of investor focus, ranging from exploration and potential resource growth to executive remuneration and director shareholding disclosures.

Note- All data presented is based on information available at the time of writing.

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