BHP rose 4.7% after posting a 28% lift in first-half profit, with copper now out-earning iron ore for the first time in the company’s history!
Across Markets…
The Australian sharemarket advanced on Tuesday after BHP bettered expectations with a $US5.64 billion ($8 billion) profit in the first half, sending the mining giant’s share price to a record high.
The S&P/ASX 200 Index rose 21.80 points, or by 0.2 per cent, to 8958.90, with four of the 11 sectors higher. Volumes are more subdued with Wall Street shut for Presidents’ Day overnight, and China closed for the week for the Lunar New Year.
Materials were the best-performing sector on the ASX, led by a 4.7 per cent surge in BHP to $52.74 – adding more than $15 billion to its market capitalisation as the stock hit a record high of $54.20.
BHP also secured a $US4.3 billion upfront payment under a long-term silver financing deal with Wheaton Precious Metals.
“The strength in copper production and the upgrade to forward guidance were notable, particularly against an industry backdrop where competitors have progressively lowered expected supply through to 2027,” Betashares senior investment strategist Cameron Gleeson said.
“The broader takeaway for investors is that critical minerals are becoming a more important part of the resources sector and governments globally are scrambling to secure reliable supply.”
Elsewhere in materials, metals recycling company Sims fell 4 per cent to $20.42 after swinging to a half-year loss of $29.9 million, and on analyst concerns about the impact China’s record steel exports were having on the Australian arm.
Technology continued to be volatile amid ongoing worries about the impact that artificial intelligence could have on software companies. After a near 13 per cent bump on Monday, WiseTech Global dropped 1.6 per cent to $47.34 and Xero 0.7 per cent to $78.50.
Source: AFR
Resolution Minerals Reports New Gold-Tungsten Assays from Drilling at Golden Gate North
Resolution Minerals (ASX: RML) has encountered additional gold and significant tungsten mineralisation in drilling at the Golden Gate Fault Zone within its Horse Heaven antimony-gold project in the US.
The company reported broad intervals of near-surface mineralisation in the final five holes of last year’s shallow reverse circulation program at Golden Gate North.
Best results include 8 metres at 0.14% tungsten from 79.3m within 21m at 0.06% tungsten from 70.1m, 99m at 0.23 grams per tonne gold from surface including 20m at 0.35g/t from 0m and 9.1m at 0.65g/t from 89.9m, and 133.7m at 0.55g/t gold from 376.5m including 15.6m at 1.1g/t from 166.7m.
They complement assays from diamond core drilling at the same target that included 197.5m at 1.26g/t gold from 34m, 265.2m at 0.6g/t gold from surface, and 253m at 1.5g/t gold from surface.
Continuous or Parallel Deposits
Resolution has planned more drilling to determine if the Golden Gate North and Golden Gate South targets form a continuous single discovery or represent two parallel deposits.
The “combined” deposit is reported to be open in all directions, along strike to the northeast and southwest (which is the orientation of the controlling shear zone), across strike to the northwest and southeast and at depth.
The gold envelope is already believed to be of considerable size, with identified mineralisation covering a strike length of 1,500m and a width of 300m.
The company’s drilling focus for 2026 at Golden Gate is to further define the size
and shape of the Golden Gate North and Golden Gate South gold deposits with a combination of diamond core and reverse circulation holes.
‘A Major Gold Discovery’
Executive director Aharon Zaetz called the results from the Golden Gate campaigns “exceptional”.
“Every hole drilled by us at Golden Gate has intercepted significant intervals of gold mineralisation—it is easy to conclude that the 2025 campaign has resulted in a major gold discovery, currently open ended in all directions,” he said.
“It is a gold discovery totally in keeping with the intrusive-related, shear-hosted exploration model we have for the original Golden Gate Fault Zone and it is a credit to our technical team for recognising such potential.”
Resolution will also use the 2026 drilling campaign to define a maiden resource estimate for Golden Gate.
Source: SmallCaps
Company: Fin Resources Ltd (ASX:FIN)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.0065
Performance Since Entry: +85%
Company: Eden Innovations (ASX:EDE)
Sector: Construction/Clean Energy
Deal Type: Shortfall
Latest Entry Price: $0.035 with 1:2 option, strike $0.07
Price Performance Since Entry: +557%
Company: Tasman Resources Ltd (ASX:TAS)
Sector: Gold/Silver/Mining
Deal Type: Placement
Latest Entry Price: $0.0125 with 1:2 option, strike $0.02
Price Performance Since Entry: +428%
Company: Locksley Resources Ltd (ASX:LKY)
Sector: REE & Antimony/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +325%
Company: CuFe Ltd (ASX:CUF)
Sector: Copper/Mining
Deal Type: Placement
Latest Entry Price: $0.016 with 1:2 option, strike $0.025
Price Performance Since Entry: +225%
Company: Tambourah Metals Ltd (ASX:TMB)
Sector: Gold/Mining
Deal Type: Placement
Latest Entry Price: $0.04
Price Performance Since Entry: +45%
Company: Biotron Ltd (ASX:BIT)
Sector: Biotech
Deal Type: Placement
Latest Entry Price: $0.003 with 1:2 option, strike $0.02
Price Performance Since Entry: 0%
Company: Eclipse Metals Ltd (ASX:EPM)
Sector: REE
Deal Type: Placement
Latest Entry Price: $0.015
Price Performance Since Entry: +47%
Company: Neuren Pharmaceuticals Ltd (ASX:NEU)
Sector: Biotech
Deal Type: On-market purchase
Latest Entry Price: $1.20 – $1.50
Price Performance Since Entry: +1,160%
Company: Dimerix Ltd (ASX:DXB)
Sector: Biotech
Deal Type: Rights Issue
Raise Amount: $800,000
Latest Entry Price: $0.08 with 1:1 option, strike $0.126
Price Performance Since Entry: $0.505 +500%
Sector: Blockchain
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.02 with 1:1 option $0.08 strike
Price Performance Since Entry: +45%
Company: Critica Limited (ASX:CRI)
Sector: REE
Deal Type: Placement
Raise Amount: $1M
Latest Entry Price: $0.0075 with a 1:1 CRIO
Price Performance Since Entry: +260%
Sector: Lithium
Deal Type: IPO
Raise Amount: $8.6M
Latest Entry Price: $0.09 with 1:2 PL3O
Price Performance Since Entry: +94%
Sector: Gold/Mining
Deal Type: Placement
Raise Amount: $2.3M
Latest Entry Price: $0.026 with 1:2 option $0.032 strike
Price Performance Since Entry: +85%
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