There are a lot of ASX gold stocks out there for Aussie investors to choose from.
One of the best, according to Bell Potter, could be Minerals 260 Ltd (ASX: MI6).
Let’s see what the broker is saying about this gold developer.
What is the broker saying?
Bell Potter notes that the ASX gold stock has announced binding agreements with Geko Explore to secure joint venture interests across approximately 350km2 of highly prospective tenure. These are contiguous with its 4.5Moz Bullabulling Gold Project in Western Australia.
Commenting on the deal, Bell Potter said:
The tenements cover areas that are highly prospective for strike extensions to the Kraken deposit at the south end of the Bullabulling Resource and the Dicksons deposit at the north end. The new tenements also cover areas for potential additional process water sources to support development and operations. MI6’s tenement holdings now lift to 1,160km2, positioning MI6 as the dominant landholder in the region and in control of the Bullabulling Fault.
The broker was pleased with the news and highlights that it pins down ground that is highly prospective. It said:
This deal further secures MI6’s landholding around Bullabulling and pins down ground that is highly prospective for Resource extensions to known deposits. Not having some of this ground could potentially compromise exploration strategy and securing it at an early stage from a well-funded position makes good strategic sense, in our view.
As well as additional process water sources, the increased footprint provides greater optionality for locating mine infrastructure. In considering the valuation, even a modest potential Resource (say 300koz) implies a A$40/oz acquisition cost (70% interest basis) which, with the positives outlined above, represents good value, in our view.
Should you invest in this ASX gold stock?
According to the note, in response to this update, Bell Potter has retained its buy rating and $1.35 price target on the gold developer’s shares.
Based on its current share price of 91 cents, this implies potential upside of almost 50% for investors over the next 12 months.
Commenting on its buy recommendation, Bell Potter said:
MI6 offers gold exposure via the 4.5Moz Bullabulling Resource, valuation uplift through discovery success, project advancement and de-risking as the BGP progresses towards production. It holds ~$250m cash, sufficient to fund to Final Investment Decision (FID) in early CY27, long-lead items and early site works. We retain our $1.35/sh Valuation and Speculative Buy recommendation.
The post Guess which ASX gold stock could rise 50% appeared first on The Motley Fool Australia.
Should you invest $1,000 in Minerals 260 right now?
Before you buy Minerals 260 shares, consider this:
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The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
* Returns as of 20 Feb 2026
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.