Alkane Resources Ltd (ASX: ALK) shares are having a rough time during Friday midday.

The gold and antimony producer is down 4.23% to $1.81, extending what has already been a weak few days for the stock.

There was also an update after Thursday’s close that could be getting some attention.

Alkane revealed that managing director and CEO Nicholas Earner has sold 2 million shares.

It’s a decent sale, and I’d expect investors to want to know a bit more about it.

Why did the CEO sell?

According to Alkane’s ASX filing, Earner sold the 2 million shares on market at $1.947 each.

That puts the total value of the sale at around $3.89 million.

The company said the sale was made to meet Earner’s expected personal tax obligations and other commitments.

It also pointed out that this was his first personal sale of Alkane shares since 2020.

Even after the transaction, Earner still owns just over 4 million Alkane shares through related entities, along with almost 3 million performance rights.

So, I wouldn’t be hitting the panic button here just yet. It’s not like Earner has cashed out and walked away.

Alkane shares have had a big year

Even at $1.81, Alkane shares are still up around 35% in 2026 and roughly 75% over the past 12 months.

The company has been putting up some strong financial numbers too.

FY26 revenue jumped 257% to $935.8 million, while net profit after tax (NPAT) surged to $228.7 million.

Alkane produced 168,337 gold equivalent ounces across the year.

The balance sheet is in good shape, with cash and bullion of $438.9 million at 30 June.

And shareholders are getting some of that back, with Alkane declaring its first fully-franked dividend of 2 cents per share.

The company has even approved an on-market share buyback of up to $50 million.

Should investors be worried?

Personally, I wouldn’t be too concerned about one director sale.

That’s especially the case when Alkane has explained the reason and Earner still owns a sizeable holding.

What matters more is how the business performs.

Alkane is guiding for FY27 production of 163,000 to 177,000 gold equivalent ounces at an all-in sustaining cost of $2,900 to $3,200 per ounce.

I think those numbers, along with where the gold price goes next, will have a much bigger say on the share price.

There is plenty for shareholders to watch over the next few quarters, particularly after the huge run Alkane shares have already had.

The post CEO sells $3.9 million of shares. Should investors be worried? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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.

Copper shares are leading the falls on the ASX on Friday, after doubts were raised about the US imposing tariffs on the vital industrial metal.

Tariffs fears have been boosting prices

The copper price has been hitting record highs recently amid fears the US will impose tariffs in a bid to promote more home-grown mining and production.

Reports indicate that traders have been importing copper into the US and building up stockpiles ahead of the rumoured tariffs, helping push prices higher.

But a report from Reuters overnight suggested that the White House was still weighing up the higher costs tariffs could impose on the US’ manufacturing sector against the benefits of encouraging more domestic mining.

Reuters quoted a White House official as saying all options remained on the table.

They said:

The administration continues to ​evaluate all options to reshore copper and other critical manufacturing back to the United States.

This has been interpreted by market watchers as suggesting tariffs may not be imposed, leading to sharp falls in the share prices of copper miners.

Among the Australian-listed producers, shares in Develop Global Ltd (ASX: DVP) fell 9.6%, Capstone Copper Corp (ASX: CSC) fell 7.8%, and Sandfire Resources Ltd (ASX: SFR) fell 6.7%.

Shares in BHP Group Ltd (ASX: BHP), which now derives more than half of its earnings from copper, fell 3.7%, while Rio Tinto Ltd (ASX: RIO) shares were off 2.7%.

“No tariff” decision could ease prices

Morgan Stanley said the Reuters report gave slightly more weight to a “no tariff” scenario.  

They added:

Today’s article does not constitute a decision but it arguably has driven the market to give slightly more weight to the “no tariff” scenario than before. Copper prices are up around 15% YTD with both benchmarks hitting all time highs in recent days, with much of this year’s strength arguably attributable to strong US import demand ahead of potential tariffs. We estimate US excess imports have now exceeded 450 kt YTD, or 2.5-3% of global refined copper demand when annualised. However, if those imports were to slow down, the copper market would feel substantially looser in our view.

Morgan Stanley said the proposed tariffs would be 15% on refined copper from the start of January 2027, potentially rising to 30% in 2028.

The Reuters article confirmed that an update report on the US copper market, due on June 30, had been given to the US President.

Copper demand is expected to remain strong in coming years as the electrification of the economy gains pace.

The post Down almost 10%! Why are ASX copper shares tanking? appeared first on The Motley Fool Australia.

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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 recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Westgold Resources Ltd (ASX: WGX) are up more than 40% over a 12-month period, but according to the analysts at Macquarie, there’s further upside in the stock yet.

Organic growth locked in for the medium term

Westgold recently released its FY27 production guidance and an updated outlook for the next three years.

The company said in that release that it was fully funded to increase its gold production from 385,000 to 425,000 ounces in FY27 to 460,000 to 510,000 ounces in FY29.

The company added:

The plan is underpinned by increased Murchison ore availability, expansion of the Cue and Meekatharra processing hubs and investment in Westgold’s largest mines. This investment is expected to lift production, improve mill utilisation and reduce all-in sustaining costs to $2,640–$3,000/oz by FY29 on an FY27 real-cost basis.

Westgold said the outlook was a base case, with potential material upside from opportunities not factored in at this stage.

Foremost among these was the Fletcher Zone at the Beta Hunt mine, which the company said was the largest organic growth opportunity.

The company added:

Once developed, and supported by a larger Southern Goldfields processing hub, current internal conceptual studies indicate Fletcher could add approximately 140kozpa to Group production and position Westgold to deliver more than 600,000ozpa

Westgold said it would be investing $50 to $75 million into exploration and resource definition drilling in FY27, and more than $150 million over three years.

Westgold Managing Director Wayne Bramwell said:

Westgold’s updated 3YO is a high confidence, executable organic growth plan lifting Group production towards 500,000 oz in FY29. This plan is fully funded with Group All-In Sustaining costs forecast to fall as the benefits of higher-grade ore availability and expansion of key Murchison mines and processing capacity to >7Mtpa are realised, delivering enhanced Group cashflow. The capital program reflects a deliberate decision to prioritise Murchison investment and utilise Westgold’s strong balance sheet, improving reserve confidence and growing mining inventories to invest ahead of production.

Westgold Resources shares looking cheap

Macquarie said in a research note to clients that Westgold’s capital expenditure over the three-year outlook came in at 36% higher than consensus estimates.

They said on the positive side of the ledger, the growth plans were underpinned by solid ore reserves, “and WGX has the balance sheet to undertake the mine development and mill expansions”.

Macquarie has a price target of $7 on Westgold shares compared to the current share price of $5.50.

If achieved, this would constitute a return of 27.3%, not including dividends.

Westgold is valued at $5.83 billion.

The post How high could Westgold Resources shares go? appeared first on The Motley Fool Australia.

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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 positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.