The All Ordinaries Index (ASX: XAO) has gained 2.3% over the last year, with this ASX All Ords gold stock leaving those gains wanting.

The high-flying miner in question is New Murchison Gold Ltd (ASX: NMG).

New Murchison shares closed yesterday trading 4.4 cents. In early morning trade on Thursday, shares are changing hands for 43.5 cents apiece, down 1.1%.

Despite today’s dip, that sees the New Murchison Gold share price up an impressive 129% over the past 12 months.

Here’s what’s happening today with the ASX All Ords gold stock.

ASX All Ords gold stock expanding its WA footprint

New Murchison shares look to be under pressure today amid broader weakness in the gold sector.

Overnight, the gold price dipped below US$4,000 per ounce for the first time in 2026. The yellow metal has been in a downtrend over the past month amid rising inflation in Australia, the United States, and most nations.

That’s led to increased expectations of central bank interest rate hikes, particularly the highly influential US Federal Reserve. And gold, which pays no yield itself, tends to perform better in low or declining interest rate environments.

Over the past few hours, the gold price has recovered to US$4,011 per ounce (according to data from Bloomberg). But that hasn’t kept the S&P/ASX All Ordinaries Gold Index (ASX: XGD) from tumbling 3.9% today.

As for New Murchison Gold, in an announcement this morning that should offer longer-term support for the gold miner’s shares, the miner reported on a material Mineral Resource Estimate (MRE) upgrade at its flagship Garden Gully Gold Project, located in Western Australia.

The ASX All Ords gold stock said the new estimates were compiled by independent consultancies, incorporating New Murchison’s updated structural interpretations and latest drilling data at the project.

Management noted, “This global update significantly expands NMG’s production pipeline and underscores the scaling potential of the Garden Gully goldfield.”

Indeed, the project’s MRE reportedly increased by 47%. This expands the total remaining resource to 4.42 million tonnes at 2.5 grams of gold per tonne for 359,000 ounces of contained gold.

The miner highlighted that this represents a 29% increase over the November 2024 MRE estimate. When including full, reconciled production mining up to April 1, 2026, it’s an even more impressive 47% total increase.

“The combined Measured and Indicated categories account for 71% of the global project ounces, ensuring excellent local grade predictability for near-term mine planning,” management said.

Since the 2024 Crown Prince MRE, the ASX All Ords gold stock has followed up on infill and extensional targets and carried out tighter spaced grade control campaigns to increase resource confidence.

The miner noted that the Measured Resource component of 39,000 ounces at 3.83 grams of gold per tonne at the Crown Prince Open Pit deposit, situated within Garden Gully, provides immediate, low-risk mill feed.

The post Up 129% in a year, guess which ASX All Ords gold stock just reported a big resource increase 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.

Lotus Resources Ltd (ASX: LOT) shares have been out of action for a few days now.

And any hopes that they would be coming back soon have been dashed after the uranium developer requested an extension to its voluntary suspension.

The ASX uranium stock now expects to remain suspended until at least 16 July.

Why is this ASX uranium stock suspended?

The company has requested the suspension while it works to secure funding and resolve operational issues at its flagship Kayelekera uranium mine in Malawi.

According to the release, production at Kayelekera has been temporarily paused following disruptions to third-party sulphuric acid supplies and delays commissioning its on-site acid plant.

Lotus Resources said the disruption to acid supply has been linked to ongoing geopolitical tensions in the Middle East, which have affected the availability and cost of sulphur and sulphuric acid.

Compounding the issue, several refractory bricks in the mine’s sulphur furnace failed during commissioning, requiring repairs before the acid plant can resume normal operations.

As a result, steady-state production is now expected later in calendar year 2026, subject to both acid supply and funding.

Funding now a key focus

The company also acknowledged that additional funding is required.

The ASX uranium stock finished the period with a cash balance of US$26 million but said external funding will be necessary to support operations and complete the restart of Kayelekera.

The good news is that Lotus has signed a non-binding term sheet with global commodities trader Mercuria Energy Trading for a marketing agreement and a proposed US$30 million inventory prepayment facility. Binding documentation is now being negotiated.

In addition, the company is pursuing equity and quasi-equity funding options.

However, Lotus warned there is no guarantee any funding arrangements will ultimately be completed.

Production had been improving

Before the latest setbacks, Kayelekera had been showing encouraging signs of improvement.

Production increased from 47,300 pounds of uranium oxide in April to 73,600 pounds in May following operational optimisation initiatives and maintenance improvements.

The company also continues to make progress on export approvals and logistics, with first shipments now expected no earlier than September 2026, subject to remaining permits being secured.

Why the suspension?

The ASX uranium stock said it believes allowing its shares to trade before the funding process is complete could result in the market trading on an uninformed basis and potentially prejudice its ability to finalise financing.

Accordingly, it has asked the ASX to keep its shares suspended until the earlier of announcing a completed funding solution or the resumption of trading on 16 July.

While management maintains that Kayelekera’s long-term investment case remains intact, investors will no doubt want to see the funding package secured and production restart before confidence is fully restored.

The post What’s going on with this ASX uranium stock? 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.

Northern Star Resources Ltd (ASX: NST) shares have fallen even further into the red in Thursday morning trade.

At the time of writing, the shares are down around 2% and changing hands at $20.22 a piece.

The latest decline means the ASX gold miner’s shares are now around 17% lower for the year-to-date but still roughly 5% above trading levels seen this time last year.

What happened to Northern Star Resources shares this year?

The shares had an incredibly strong start to 2026, climbing almost 30% to an all-time high of $31.73 in early March.

But investors quickly sold their shares in the ASX gold miner shortly after its operational update, causing a 46% share price crash. The shares are now trading around 36% below that peak.

The company also downgraded its FY26 production outlook on two separate occasions earlier this year. At the time, management flagged a weaker-than-expected performance across several key operations.

Gold price weakness also added further pressure. Throughout March, the price of the safe-haven metal crashed from around US$5,300 per ounce to around US$4,300 per ounce. The drop came on the back of inflation concerns and liquidity pressures, which resulted directly from an outbreak of conflict in the Middle East.

The outbreak of the Iran war led investors to sell liquid assets, including gold, to raise cash as broader markets declined. At the same time, rising oil prices increased inflation concerns and raised the prospect of higher interest rates, which is typically negative for gold.

As a gold producer, Northern Star’s revenue is heavily dependent on the price of gold. Falling gold prices, combined with a lower production outlook, have compressed the company’s share price this year.

The question now is, can they recover? Or is there more downside ahead?

Are the shares a buy, sell or hold now?

According to the experts, there is still plenty of potential for the ASX gold stock to recover over the next 12 months.

Market Index data shows that the majority of brokers have a buy rating on the Northern Star shares. The $27.74 target price implies a potential upside of around 37% at the time of writing.

On TradingView data, analysts are significantly more bullish. Out of 18 analysts, 11 have a buy or strong buy rating on the stock. Another five rate the gold shares as a hold, and two have a sell stance. 

The average $26.37 target price implies a potential 30% upside at the time of writing. But some think Northern Star shares could soar another 65% to $33.50 over the next 12 months.

Bell Potter is one of the more bullish brokers on Northern Star shares. It has a buy rating and $35 target price. It notes that while the guidance downgrades are disappointing, it still sees potential positives given the high capital and operating costs at some of the company’s sites.

Baker Young has a sell rating on the shares. He said that the miner has underperformed and that the team would seek alternative gold exposure.

The post Down 36%: Will Northern Star shares ever recover? appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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.