Shaw and Partners has released a bunch of new research reports this week, with two in particular catching my eye.

The companies they profile have the potential to deliver exceptional share price gains, the broker argues, based on new exploration drilling results.

Let’s see who they like.

Brightstar Resources Ltd (ASX: BTR)

This gold project developer recently released new drilling results, which included an “exceptional wide, high grade intercept” of 226m at 3.11 grams per tonne of gold.

Brightstar said drilling at the Two Mile Hill-Shillington deposit was hitting broad intervals of mineralisation, “targeting areas identified for potential underground mining in ongoing pre-feasibility study workstreams, with visible gold observed throughout the significant intersections, typically associated with galena and pyrite”.

The company said drilling was continuing with rigs active across multiple deposits to bolster the prefeasibility work and continue extension at depth at Two Mile Hill.

Brightstar Managing Director Alex Rovira said:

These infill results are hugely encouraging for a potential future underground mining operation at Two Mile Hill, which is currently being assessed by Brightstar and Entech for inclusion in the upcoming pre-feasibility study. Prior to the recent discovery of the +300m-wide Shirvington Zone at depth, Two Mile Hill had already been identified as a potential large-scale underground mining operation, targeted to complement the proposed open pit mining in Sandstone. These infill results validate that concept, illustrating both grade and scale.

Shaw and Partners said Brightstar’s projects were relatively low risk. They have a price target of $1.44 on the shares compared to 58 cents currently.

Yandal Resources Ltd (ASX: YRL)

Yandal recently reported further drilling results from its Arrakis discovery, which included 17.5m at 2.3 grams per tonne of gold and 17m at 1 gram per tonne.

The company’s managing director, Chris Oorschot, said the results, “provide further support for a third high-grade domain within the Arrakis mineralised system, first defined after the 6m @ 28.3g/t Au intercept reported two weeks ago”.

Mr Oorschot added that an area beneath the current drilling remains untested, but that interpretations suggest a domain of higher grade mineralisation.

Shaw and Partners has a price target of 51 cents on Yandal compared to 15.5 cents currently.

The broker said:

We value YRL on a modest $180 per ounce and forecast 1Moz Resource base. YRL already has 450koz of Resource gold largely on existing mining leases, with strong extension potential and in the vicinity of multiple gold mills owned by other corporates. Further, ongoing drill results already suggest YRL has a realistic path to reach ~1Moz of Resources within a year. Upside to our price target could come from YRL’s attractive ongoing exploration potential. Additionally, corporate optionality in the Yandal region could add further upside potential to our stock valuation.

The post 2 ASX mining shares Shaw and Partners says could return 150% to 250% appeared first on The Motley Fool Australia.

More reading

• Brightstar Resources posts record gold drilling intercepts at Sandstone
• Brightstar Resources results: 4.5Moz gold resource and production plans advance
• Brightstar Resources provides Goldfields Project update as construction forges ahead
• Brightstar Resources drills thick gold intercepts to expand Sandstone scale

Motley Fool contributor Cameron England 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.

The Greatland Resources Ltd (ASX: GGP) share price is down 2% on Thursday despite the company reporting a net profit after tax of $862 million and revenue of $2,259 million for the year ended 30 June 2026, marking its first full year owning the Telfer gold mine.

A pullback in the gold price overnight appears to be overshadowing the news.

What did Greatland Resources report?

• Net profit after tax: $862 million, up 156% year on year
• EBITDA: $1,332 million, up 186%
• Revenue: $2,259 million from sales of 326,859 ounces of gold and 14,730 tonnes of copper
• Free cash flow: $737 million, up 413%
• Total available liquidity: $1,764 million (including $1,289 million cash and $475 million undrawn debt facilities)
• All-in-sustaining cost (AISC): $2,179 per ounce gold produced

What else do investors need to know?

FY26 was a landmark year for Greatland Resources, with the Telfer mine delivering a full 12 months of results under Greatland’s ownership. The company processed over 19 million tonnes of material, achieving strong gold and copper recoveries, and significantly boosted its cash position.

Key project milestones included completing the Havieron Feasibility Study, achieving substantial mineral resource and ore reserve upgrades at both Telfer and Havieron, and securing $500 million in corporate debt facilities with major banks. The company’s safety performance also improved, with a lower injury frequency rate versus the prior year.

Importantly, all necessary environmental and permitting approvals for the Havieron project were received after the financial year end, paving the way for the development phase to commence.

What did Greatland Resources management say?

Commenting on the results, Shaun Day, Managing Director, said:

FY26 was another transformative year for Greatland. Our first full financial year of Telfer under our ownership delivered exceptional operating results, driven by significant productivity improvements in our open pit and underground mines, and an excellent performance in our processing operations.

The safe delivery of strong production outcomes, and full upside exposure to a strong metal price environment, delivered net profit of $862 million (~$1.28 per share) and free cash flow of $737 million (~$1.10 per share). I would like to extend my appreciation to our Greatland team, particularly at our operations, for their hard work and dedication which delivered these excellent outcomes for the year. Equally importantly, we made important progress on improving and advancing our organic growth profile during the year. At Havieron, we completed our Feasibility Study which confirmed the pathway to a world-class Australian gold-copper mine leveraging existing Telfer infrastructure, and subsequently made our final investment decision for the project. At Telfer, we delivered substantial resource and reserve upgrades, including a maiden resource at our West Dome Underground project.

Looking ahead to FY27, we are guiding to produce 260,000 – 300,000 ounces of gold at an AISC of $2,900 – $3,330 per ounce, which will support an important year of investment in organic growth. We will commence the construction phase for Havieron, and will continue our investment in Telfer including progressing new high-grade opportunities, in particular the West Dome Underground. The investments we make in FY27 will set the foundations for a period of production growth delivered by a higher quality, longer life, gold-copper production centre in the Paterson region. We enter the year in a position of strength with net cash of approximately $1.3 billion at the close of FY26.

What’s next for Greatland Resources?

For FY27, Greatland Resources is guiding gold production between 260,000 and 300,000 ounces at a higher AISC of $2,900–$3,330 per ounce, reflecting increased investment in mine development and growth projects. Major capital expenditure is planned for both the Telfer and Havieron sites, including construction at Havieron and fleet renewal at Telfer.

The company is focused on organic growth, including new exploration drive at Telfer and upcoming development milestones at Havieron where first gold is expected in FY29. Management sees strong foundations for long-term growth, supported by a robust cash position and approved expansion plans.

Greatland Resources share price snapshot

The Greatland Resources share price has been one of the best performers on the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of over 130%.

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The post Greatland Resources shares fall despite profit and revenue surge on first full year of Telfer operation appeared first on The Motley Fool Australia.

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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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The 29Metals Ltd (ASX: 29M) share price is down 7% to 33.5 cents on Thursday following the release of its half-year results, which showed a 12% rise in revenue to $304.9 million but a net loss after tax of $34.8 million compared to last year’s $35.3 million profit.

What did 29Metals report?

• Revenue rose 12% to $304.9 million (1H FY25: $271.0 million).
• Net loss after tax of $34.8 million (1H FY25: $35.3 million profit).
• EBITDA fell to $30.5 million (1H FY25: $112.6 million).
• No interim dividend declared or paid.
• Total liquidity increased to $202.1 million (31 Dec 2025: $117.6 million).
• Copper metal sales contributed 70% of total revenue, up from 51%.

What else do investors need to know?

29Metals raised $150 million through an underwritten entitlement offer during the period, boosting its working capital. The proceeds are earmarked for ongoing development at Gossan Valley, advancing the restart plans at Capricorn Copper, and continued exploration.

Operations at Golden Grove delivered higher copper output but much lower zinc production due to a temporary exclusion zone at Xantho Extended following seismic events. Restart activities at Capricorn Copper remain ongoing, with production still suspended while approval processes for a new tailings facility are underway.

What’s next for 29Metals?

Looking ahead, 29Metals expects mining at Xantho Extended to recommence in the December quarter, while first ore from the Gossan Valley and Oizon projects is also targeted for late 2026. At Capricorn Copper, management is working through regulatory approvals and feasibility studies to support a safe and sustainable restart, subject to funding and permitting outcomes.

Exploration drilling at Golden Grove is ongoing, with promising targets identified. The company is also engaging with potential strategic partners to strengthen liquidity and accelerate progress on key projects.

29Metals share price snapshot

Despite today’s decline, the 29Metals share price is beating the S&P/ASX 200 index (ASX: 29M) on a 12-month basis with a gain of over 11%.

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The post 29Metals share price drops 7%: Half-year earnings reveal $34.8m loss, revenue up appeared first on The Motley Fool Australia.

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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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.