S&P/ASX 200 Index (ASX: XJO) gold stock Catalyst Metals Ltd (ASX: CYL) is marching higher today.

Catalyst Metals shares closed yesterday trading for $6.10. In early morning trade on Tuesday, shares are changing hands for $6.32 apiece, up 3.6%.

For some context, the ASX 200 is up 0.1% at this same time.

Among the tailwinds helping lift the miner today is the overnight uptick in the gold price. Currently trading for US$4,191 per ounce, the gold price is up 1.2% since this time yesterday (according to data from Bloomberg).

Here’s what else is grabbing investor interest.

ASX 200 gold stock gains on resource boost

Catalyst Metals shares are marching higher after the miner released an updated mineral resource estimate (MRE) for its Trident underground gold deposit, located in Western Australia.

The ASX 200 gold stock is currently developing the Trident mine, where it recently completed an open pit to enable development of an underground portal.

Catalyst’s Trident underground will be the fourth mine to be developed on the Plutonic Belt. The other three are Plutonic East, Trident open pit, and K2.

When Catalyst acquired Trident in 2023 to complete a consolidation of the Plutonic Gold Belt, the project had a resource of 524,000 ounces at 3.6 grams of gold per tonne.

The miner noted that the resource now stands at 1.1 million ounces at 5.4g/t Au.

Promisingly, Catalyst said that the more tightly drilled indicated resources have increased by 20% from prior estimates to 633,000 ounces at 6.3g/t Au. The company expects this will underpin a roughly 10-year mine plan at an average run-rate of some 60,000 ounces per year.

The ASX 200 gold stock highlighted that Trident remains the second-largest deposit on the Plutonic Belt. The project is expected to form a second, higher grade base load ore source for the central Plutonic processing plant.

That’s all part of Catalyst’s plan to increase its annual gold production from 100,000 ounces to 200,000 ounces.

What did Catalyst Metals management say?

Commenting on the updated MRE that is helping lift the ASX 200 gold stock in early trade today, Catalyst Metals managing director & CEO James Champion de Crespigny said, “Our exploration team continues to have success across the belt, meaningfully growing Trident, Plutonic Main, Cinnamon, K2 and Old Highway. “

Champion de Crespigny added:

This 145% increase in Trident’s indicated resources, and achievement of this 1-million-ounce milestone, is a testament to their persistence.

A key focus now is on developing the Trident orebody. With the open pit completed, the successful development of the underground, and path to around 200,000 ounces, is becoming ever more likely.

Catalyst expects the first stoping ore from the underground mine in the first half of calendar year 2027.

The post Guess which ASX 200 gold stock is jumping today on a 20% resource boost appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben 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.

Iluka Resources Ltd (ASX: ILU) shares were trading higher after the company announced a major funding development as well as a new deal to supply rare earths to a global automotive company.

Project funding secured

The company said in a statement to the ASX that Export Finance Australia (EFA) had confirmed that Iluka would have full access to a $1.65 billion non-recourse loan to build its Eneabba rare earths refinery in Western Australia.

Iluka also said that Civmec Ltd (ASX: CVL) had been awarded the contract for the structural, mechanical, piping, electrical, and instrumentation works to complete the refinery’s construction.

The company said regarding the financing:

Iluka anticipates Tranche 1 of this funding, comprising $1.25 billion, will be fully drawn at the end of 2026, at which point the refinery is expected to be 75% complete. EFA has confirmed availability of the remaining $400m to complete Eneabba’s construction. Commissioning of the refinery is scheduled for mid 2027.

Regarding the offtake agreement, Iluka said it had struck a multi-year agreement to supply magnet rare earth oxides (neodymium, praseodymium, dysprosium, and terbium) to the global automotive company.

Iluka said further:

The offtake agreement is take-or-pay; commences in 2028 for an initial term of four years; and represents approximately 10% of Iluka’s planned production over that period, being 1,200t of magnet rare earth oxides (Nd, Pr, Dy and Tb). Offtake volumes are in line with the commissioning (2027) and ramp up timeline for the Eneabba refinery. The agreement sets pricing at the higher of minimum and market-linked prices for each product to balance the dual risks of downside price volatility and security of supply. Iluka’s minimum revenue over the contract period is US$155 million.3 Assuming industry forecast pricing, Iluka’s revenue over the contract period would be US$172 million.

Iluka said the identity of the automotive company was commercial in confidence.

Managing Director Tom O’Leary said the offtake agreement was a particularly important milestone for the company’s rare earths business.

He added:

Our first rare earths customer is a globally recognised automotive company and I am delighted that Iluka has been entrusted to deliver refined critical minerals as part of its supply chain. We look forward to a collaborative and successful partnership. Beyond being Iluka’s first, the agreement is significant in that it encompasses the full suite of light and heavy magnet rare earth oxides and contains minimum prices agreed between commercial parties that are independent of those backed by governments.

Mr O’Leary said the deal “demonstrates increasing recognition of Iluka’s position as a credible, vertically integrated supplier, with diverse feedstock sources spanning internal operations and third-parties. Discussions with other prospective customers are ongoing”.

Shares trading higher

Iluka shares were 2.2% higher at $8.31 in early trade. Civmec shares were steady at $1.98.

The post Which rare earths miner has locked in a $1.65 billion funding deal? 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 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.

BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO) shares have been on fire over the past 12 months.

Thanks largely to their exposure to the booming copper price, the mining giants have hit record highs in recent weeks.

One ASX copper share that is nowhere near its high is Aeris Resources Ltd (ASX: AIS).

But it might not stay that way for long if Bell Potter is on the money with its recommendation.

What is the broker saying about this ASX copper share?

Bell Potter notes that Aeris Resources is close to completing its acquisition of Peel Mining Ltd (ASX: PEX). This will give it ownership of the Mallee Bull and Wirlong copper projects. It said:

The Scheme of Arrangement by which AIS has acquired 100% of Peel Mining (PEX, not rated) has become effective. The transaction gives AIS ownership of the Mallee Bull and Wirlong copper projects which contain a combined Resource of 10.6Mt @ 1.85% Cu for 197kt contained Cu. They sit within a ~150-200km trucking radius of Tritton. Combined with the current Resource at Tritton this is a total Resource of 29.5 Mt @ 1.73% Cu for 511kt contained Cu. Consideration is all scrip, comprising the issue of 300.0m shares to PEX shareholders and is expected to complete on 1 July 2026.

It sees a lot of positives from the deal, highlighting that it adds development optionality and derisks production. The broker explains:

The strategic rationale is to significantly increase AIS’ Cobar region resource base, materially extending the mine life at Tritton, adding development optionality and derisking production. The high-grade Mallee Bull deposit is the subject of a maiden Ore Reserve Estimate (ORE) to be released in 1QFY27 and contribute to an updated life-of-mine (LOM) plan for Tritton.

Additionally, we expect an updated ORE for the Constellation deposit, as well as Resource extensions at Avoca Tank and Budgerygar deposits where recent drilling has intersected ore-grade mineralisation significantly below the current Resource at Avoca Tank and thicker than expected mineralisation within in the Budgerygar Inferred Resource. These acquisitions and exploration successes are providing more visibility on mine life at Tritton than at any time since its initial development.

Major upside potential

According to the note, Bell Potter has retained its buy rating and 90 cents price target on the ASX copper share.

Based on its current share price of 40.2 cents, this implies potential upside of 120% for investors over the next 12 months.

Speaking about its investment thesis, the broker said:

We make no material changes to our valuation with this update. We continue to look to AIS’ quarterly production performance and updates on the development of the Constellation deposit at Tritton for key near-term catalysts. AIS is a copper-dominant producer, with its near-term outlook highly leveraged to the copper price and increasing production at Tritton.

Tritton is a strategic regional asset with corporate appeal and capacity to leverage value from stranded assets, in our view. With upside to our Target Price supported by growing free cash flow and low valuation multiples it remains a key pick for CY26. Our Target Price of $0.90/sh is unchanged and we maintain our Buy recommendation.

The post Forget BHP and Rio Tinto, this ASX copper share could rise 100%+ 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 recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.