Author: openjargon

Shares in West African Resources Ltd (ASX: WAF) were trading broadly flat on Tuesday after the company announced the Burkina Faso Government would acquire another 25% of its Kiaka operations for $175 million.

Shareholders in the money

But the announcement is good news for shareholders, with the ASX gold company saying it would distribute the money by way of a special dividend.

The Burkina Faso Government already held a 15% stake in the Kiaka operations, which poured their first gold ahead of schedule and under budget in June of last year.

The Burkina Faso government has now passed a decree authorising Société de Participation Minière du Burkina Faso (SOPAMIB) to acquire the extra stake.

West African executive chair Richard Hyde said regarding the announcement:

Publication of the Decree removes uncertainty regarding the Government’s interest in Kiaka. WAF will proceed to finalise a transaction with SOPAMIB, which we aim to have completed by the end of CY 2026. WAF plans to distribute the cash proceeds received from the sale of its interest in Kiaka back to shareholders by way of a special dividend. Our discussions with SOPAMIB have been extensive and robust. During these discussions, we have also explored opportunities for a mutually beneficial long-term partnership on advanced gold projects within SOPAMIB’s current portfolio.

West African Resources said its Sanbrado and Toega operations are not the subject of a request for additional participation by the Government and are not referred to in the Decree.

Mr Hyde added that the company would release its quarterly activities and cash flow reports later this week, “which are anticipated to report a record high cash position for WAF”.

West African Resources shares were marginally higher, up 2.9% in early trade, before settling back to be 1.7% lower at $3.38.

The company is valued at $3.93 billion.

Long term growth

West African Resources announced in late March that it had a strong production profile over the next decade, built around its African operations.

Mr Hyde said at the time:

WAF’s updated 10-year production outlook forecasts the production of 5.3 million ounces of gold over the next decade, with production peaking in 2030 at 596,000 ounces. Our unhedged Mineral Resources now stand at 13.6 million ounces of gold, while Ore Reserves total 7.0 million ounces. We see potential to improve annual production further through our ongoing drilling programs where we plan to drill more than 100,000m annually targeting extensions at M5 South underground, beneath M5 North open-pit and Toega underground. Our 2026 10-year production plan highlights WAF’s strong and sustainable long-term future.

The company added that its Sanbrado and Kiaka projects, along with surrounding exploration licenses, had “strong potential” for new discoveries and extensions of existing resources.

The post Why are West African Resources shareholders celebrating today? appeared first on The Motley Fool Australia.

More reading

• Up 59% in a year, why is this $3.8 billion ASX 200 gold stock sinking today?
• After new production guidance, how high could this ASX gold stock go?
• Why Challenger, Magellan, Northern Star, and West African Resources shares are storming higher
• Guess which ASX 200 gold stock is lifting off today on record breaking news
• West African Resources: 2026 production guidance forecasts record gold output

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 Atlas Arteria Group Ltd (ASX: ALX) share price is in focus today after the company reported a modest 0.1% lift in proportionate toll revenue for the first quarter of 2026, with strong growth in Dulles Greenway and A79 roads balancing softer trends elsewhere.

What did Atlas Arteria report?

• Proportionate toll revenue rose 0.1% in Q1 2026 vs Q1 2025
• Adjusting for foreign exchange, revenue increased by 1.6%
• A79 toll revenue up 6.6% and traffic up 4.1%
• Dulles Greenway toll revenue up 7.4% and traffic up 7.6%
• APRR toll revenue grew by 1.1%, despite a 0.9% traffic drop
• Warnow Tunnel toll revenue fell 5.8% on lower traffic due to harsh winter

What else do investors need to know?

Atlas Arteria saw varying results across its international portfolio. While light vehicle traffic was down in France and on Chicago Skyway, heavy vehicle traffic was up in France and down in Chicago. The Dulles Greenway recorded strong results, bolstered by increased congestion on competing routes.

The company noted no significant impact from global economic factors or rising fuel prices so far this year. Most tolls remain linked to local inflation, with any cost increases expected to gradually flow through.

What’s next for Atlas Arteria?

Atlas Arteria will continue keeping an eye on fuel and economic conditions, though its roads historically show solid resilience through cycles. Management expects toll revenue to be supported by CPI-linked pricing and disciplined asset management, with future performance varying by geography but underpinned by long-term contracts and user demand.

The company is also monitoring global freight trends and supply chain shifts that can affect heavy vehicle traffic, particularly in the US.

Atlas Arteria share price snapshot

Over the past 12 months, Atlas Arteria shares have declined 13%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 15% over the same period.

View Original Announcement

The post Atlas Arteria shares: Q1 2026 toll revenue ticks higher appeared first on The Motley Fool Australia.

More reading

• Mineral Resources launches US$1.3bn notes offer to cut debt costs
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• Would Warren Buffett buy this ASX 200 share?
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• Challenger plans 2026 redemption of Capital Notes 3 with final distribution

Motley Fool contributor Laura Stewart 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 Mineral Resources Ltd (ASX: MIN) share price is in focus today after the company announced it had successfully priced a US$1.3 billion senior unsecured notes offering, aiming to reduce finance costs and lengthen the average term of its debt.

What did Mineral Resources report?

• Successfully priced US$650 million 6.000% senior unsecured notes due May 2032
• Priced an additional US$650 million 6.250% senior unsecured notes due May 2034
• Will use proceeds to refinance existing US$625 million notes and outstanding iron ore prepayment
• Notes guaranteed by certain wholly-owned subsidiaries
• Expected to lower annual interest costs by $48 million, cutting average debt cost from 8.4% to 7.4%
• Weighted average debt tenor to extend from 3.1 to 5.0 years

What else do investors need to know?

Mineral Resources’ latest offering is set to deliver clear financial benefits, including a notable reduction in annual financing costs and a more sustainable debt maturity profile. The company expects the funding move to free up cash flows and enhance balance sheet flexibility.

Settlement of the new notes is anticipated on 29 April 2026, subject to customary closing conditions. The interest will be paid semi-annually from November 2026, supporting the company’s long-term funding needs.

What’s next for Mineral Resources?

Mineral Resources plans to use the proceeds to fully refinance its higher-cost debt, repay its iron ore prepayment facility, and redeem a portion of its 2028 notes. These steps are designed to improve the company’s financial resilience and support ongoing investments across lithium, iron ore, and mining services.

Investors will be watching to see how the strengthened balance sheet supports the company’s growth strategy and operational expansion in key markets over the coming years.

Mineral Resources share price snapshot

Over the past 12 months, Mineral Resources shares have risen 276%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 15% over the same period. 

View Original Announcement

The post Mineral Resources launches US$1.3bn notes offer to cut debt costs appeared first on The Motley Fool Australia.

More reading

• Atlas Arteria shares: Q1 2026 toll revenue ticks higher
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• Would Warren Buffett buy this ASX 200 share?
• Lynas Rare Earths shares in focus after record revenue and new supply deals
• Challenger plans 2026 redemption of Capital Notes 3 with final distribution

Motley Fool contributor Laura Stewart 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.

S&P/ASX 200 Index (ASX: XJO) gold stock Ora Banda Mining Ltd (ASX: OBM) is charging higher today.

Ora Banda shares closed yesterday trading for $1.56. In early morning trade on Tuesday, shares are changing hands for $1.59 apiece, up 1.7%.

For some context, the ASX 200 is up 0.2% at this same time.

This outperformance follows an update on the miner’s ongoing drilling campaign at its Waihi Project, located in Western Australia.

Here’s what we know.

ASX 200 gold stock lifts on drill results

In January, Ora Banda kicked off a 22 hole exploratory drill program at Waihi, close to the historical Golden Pole mine.

The ASX 200 gold stock said the “exceptional high-grade drill results” from this program have accelerated Golden Pole’s inclusion in an updated Mineral Resource and Ore Reserve Estimate for Waihi.

Ora Banda aims to complete the new estimates in the June quarter.

The Waihi deposit is located three kilometres from Ora Banda’s Davyhurst processing plant. The miner is targeting Waihi as a potential third underground mine.

Management said that the targeted infill and extensional drilling on Waihi’s Golden Pole Lode have confirmed its mining potential.

Ora Banda reported top results from one hole of 3.0 metres at 44.0 grams of gold per tonne, including 2.0 metres at 64.6 grams of gold per tonne.

A second hold returned 11.3 meters @ 10.5 g/t AU, including 2.0 metres @ 48.2 g/t AU.

Golden Pole has a rich history, which the ASX 200 gold stock aims to rekindle. From 1900 to 1939, the gold mine produced 81,000 tonnes @ 29. 6g/t Au for some 77,000 ounces of gold.

Ora Banda noted that extensions to the Golden Pole mineralised system were “poorly drill tested” by previous operators, which the miner said provides it with a significant follow-up opportunity.

What did Ora Banda management say?

Commenting on the drill results helping boost the ASX 200 gold stock today, Ora Banda managing director Luke Creagh said:

These excellent drill results build on the rapidly growing body of work at Waihi and we’re moving to incorporate these into an updated Waihi underground Mineral Resource and Ore Reserve Estimate scheduled for release this quarter.

At Waihi, we are once again seeing the rapid transition of an exploration target into a potential near-term development, highlighting both the excellent organic growth opportunities on the tenement package plus the outstanding ability of our teams to discover and develop these opportunities.

Ora Banda share price snapshot

With today’s intraday gains factored in, shares in the ASX 200 gold stock up 32.5% in 12 months, and up 148.4% since the recent closing lows on 1 August.

The post Guess which ASX 200 gold stock lifting off today on ‘exceptional high-grade’ results 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.

The Emerald Resources Ltd (ASX: EMR) share price is in focus after the company released an exploration update revealing further high-grade gold intersections from its projects in Western Australia and Cambodia.

What did Emerald Resources report?

• Ongoing drilling at Dingo Range Gold Project (WA) confirmed extensive high-grade mineralisation, including 45m at 4.1g/t gold and 15m at 7.09g/t.
• Freeman’s Find Deposit drilling returned 13m at 4.46g/t gold and 2m at 29.12g/t gold, supporting resource model confidence.
• Memot Gold Project (Cambodia) infill drilling produced significant intercepts such as 2m at 50.29g/t gold and 14m at 3.37g/t gold.
• Okvau Gold Mine drill results included 3m at 59.04g/t gold, highlighting further upside potential.
• Resource upgrades this year: Dingo Range at 40.9Mt at 1.1g/t Au (1.41Moz); Memot at 45Mt at 1.2g/t Au (1.7Moz).

What else do investors need to know?

Emerald continues to demonstrate growth at both existing operations and exploration targets, with ongoing drilling campaigns at Boundary, Neptune, and Freeman’s Find deposits. High-grade results and extensive metreage drilled confirm the scale and prospectivity of these assets.

In Cambodia, infill and extensional drilling at Memot and Okvau is building confidence for impending mineral resource updates and a maiden reserve at Memot. Over 1,600 assays from Memot and more than 1,000 from Okvau remain pending, meaning more results are likely ahead.

The company is also extending its air core drilling program at the Stables Prospect in Western Australia, chasing fresh geochemical anomalies and potential new discoveries further along strike.

What did Emerald Resources management say?

Managing Director said Morgan Hart said:

As we continue resource expansion and infill drilling, the consistency of high-grade results from Australia and Cambodia highlights the ongoing growth potential across our portfolio.

What’s next for Emerald Resources?

Emerald is set to incorporate results from ongoing drilling into upcoming resource and reserve estimations, particularly at Dingo Range and Memot. The company plans to intensify drilling across its tenure, targeting underground potential and further open pit extensions.

Investors can expect more assay results and project updates throughout the year, as the company works toward unlocking further value from its gold projects in both Australia and Cambodia.

Emerald Resources share price snapshot

Over the past 12 months, Emerald Resources shares have risen 46%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 15% over the same period.

View Original Announcement.

The post Emerald Resources hits more high-grade gold at Dingo Range and Memot appeared first on The Motley Fool Australia.

More reading

• Atlas Arteria shares: Q1 2026 toll revenue ticks higher
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Motley Fool contributor Laura Stewart 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

Rio Tinto Ltd (ASX: RIO) shares are rising on Tuesday morning.

At the time of writing, the mining giant’s shares are up 1% to $174.27.

This follows the release of the miner’s quarterly update before the market open.

This gain leaves the Rio Tinto share price within touching distance of its record high.

Rio Tinto shares rise on Q1 update

For the three months ended 31 March, Rio Tinto reported Pilbara iron ore sales of 72.4Mt, which was up 2% on the prior corresponding period. It notes that Tropical Cyclones Mitchell (in February) and Narelle (in March) impacted shipments by approximately 8Mt.

As a result, management has reaffirmed its FY 2026 guidance of 323Mt to 338Mt. However, it is still tracking below this guidance range when adjusting for delayed shipments.

The copper business was more positive. It reported a 9% increase in production to 229kt, which means it is tracking ahead of its guidance range of 800kt to 870kt in FY 2026.

Elsewhere, aluminium production increased 1% to 0.84Mt, alumina production lifted 6% to 2Mt, bauxite production dropped 11% to 13.3Mt, and lithium production was 12.7kt. All production guidance for these commodities has been reaffirmed for FY 2026.

Cost guidance unchanged

Rio Tinto revealed that the war in the Middle East has had a limited impact on its operations.

The mining giant advised that it consumes ~1.6 billion litres of diesel annually, with around two-thirds in the Pilbara. However, despite higher diesel prices steepening the cost curve, it notes that its cost position is resilient, underpinned by scale and global supply-chain leverage.

As a result, management has retained its cost guidance for FY 2026. It continues to forecast Pilbara iron ore unit cash costs of US$23.5 to US$25 per wet metric tonne, and copper C1 net unit costs of US$65 to US$75 per pound.

Management commentary

Commenting on the quarter, Rio Tinto’s chief executive, Simon Trott, said:

Operating excellence drove 9% YoY copper equivalent production growth across our portfolio as the Oyu Tolgoi copper mine continues to ramp up as planned and our integrated aluminium business, again, delivered a strong performance. Our Pilbara iron ore mines performed strongly, while shipments were impacted by two cyclones in the quarter. We achieved the historic land exchange at Resolution Copper, with our project team focused on unlocking the next phase of one of the world’s largest untapped copper deposits.

The unmatchable mix and scale of our portfolio has ensured growth and supply chain resilience against changing operating conditions as we continue to closely monitor the evolving situation in the Middle East. Our stronger, sharper, simpler way of working is enabling us to move at pace to achieve productivity benefits across the business. The first $650m of annualised benefits is now fully implemented, as promised, with substantially more underway.

The post Rio Tinto shares close in on record high following strong Q1 update 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.

Hub24 Ltd (ASX: HUB) shares are falling on Tuesday morning.

At the time of writing, the ASX 200 stock is down 4% to $91.63.

Why is this ASX 200 stock falling today?

Investors have been selling the investment platform provider’s shares today despite the release of a solid third-quarter update, which highlights continued momentum across its business.

According to the release, Hub24 achieved platform net inflows of $4 billion for the third quarter of FY 2026.

This represents a 9% increase on the prior corresponding period when excluding large migrations. It is possible that the market was expecting an even stronger increase for the quarter.

Funds under administration surge

The ASX 200 stock revealed that total funds under administration (FUA) reached $151.7 billion at the end of March.

This represents a 22% increase on the prior corresponding period, driven by strong inflows and continued platform adoption.

Platform FUA alone rose 25% year on year to $127.8 billion, though it was broadly flat over the quarter due to negative market movements of $4.1 billion offsetting inflows.

Market share gains continue

Hub24 also pointed to its strong competitive position within the platform market.

The ASX 200 stock ranked first for both quarterly and annual net inflows for a ninth consecutive quarter, based on the latest available data.

It also achieved the largest market share gains of all platform providers, lifting its market share to 9.7%. This is up from 8.3% a year ago.

Management notes that growth is being driven by a combination of strong retail inflows and a pipeline of new and existing client relationships.

Adviser growth and new agreements

During the quarter, Hub24 signed 37 new licensee agreements and increased the number of advisers using its platform by 272 to 5,549.

This represents an 11% increase over the past year and reflects ongoing demand from financial advisers for its platform offering.

The company believes this expanding adviser base will continue to support inflows in future periods.

Acquisition news

In addition to the strong operational performance, the ASX 200 stock revealed that it has exercised a call option to acquire HTFS Nominees, which is the trustee of the Hub24 Super Fund.

The acquisition is expected to be completed by the end of 2026, subject to regulatory approvals, and is not anticipated to have a material impact on earnings.

Management notes that bringing the trustee function in-house is expected to enhance control and support long-term growth of its superannuation offering.

The post Why is this ASX 200 tech stock tumbling today? 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 positions in and has recommended Hub24. The Motley Fool Australia has recommended Hub24. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Yancoal Australia Ltd (ASX: YAL) shares are on the slide on Tuesday morning.

At the time of writing, the ASX 200 coal stock is down slightly to $6.59.

Why is this ASX 200 coal stock sliding?

The company’s shares are under pressure following the release of its quarterly update, which highlighted softer production and sales volumes alongside rising cost pressures.

According to the update, attributable saleable coal production came in at 9.0 million tonnes for the first quarter. This is down 14% compared to the prior quarter and 5% lower than the prior corresponding period.

Attributable coal sales were also weaker at 8.2 million tonnes, reflecting both lower production and the timing of shipments during the period.

Total run-of-mine coal production was broadly steady year on year at 15.0 million tonnes, though lower than the previous quarter.

Management noted that the first quarter was always expected to be the weakest period for production in FY 2026, with output forecast to increase over the remaining quarters of the year.

The company reported an average realised coal price of A$146 per tonne, which was slightly lower than the prior quarter and down from A$157 per tonne a year earlier.

Management advised that this reflects a mix of factors, including contract structures and timing, which can delay the flow-through of higher coal prices into realised pricing.

Encouragingly, coal price indices increased during the quarter, which management expects will begin to support realised prices from the second quarter onwards.

Cost pressures building

One of the key themes from the update is rising cost pressure, particularly from higher diesel prices.

Diesel represents a meaningful portion of mining costs, and the ASX 200 coal stock has warned that recent increases are expected to push FY 2026 cash operating costs toward the upper end of its guidance range of A$90 to A$98 per tonne.

Management also flagged some uncertainty around diesel supply beyond May, noting that contingency plans are in place should supply constraints emerge.

The company’s CEO, Sharif Burra, explained:

We have secured diesel supply until around the end of May, and are working closely with our main suppliers. Beyond this horizon, continuity of diesel supply may become less certain, and as a prudent measure we have established contingency plans. Given the outlook for diesel prices, we now anticipate cash operating costs for the year could be close to the upper end of our guidance range based on the current forecasts. Uncertainty in global oil and diesel markets will require ongoing assessment of our cost profile.

Outlook

The ASX 200 coal stock has maintained its FY 2026 production guidance of 36.5 million to 40.5 million tonnes.

Capital expenditure guidance of A$750 million to A$900 million also remains unchanged.

Burra adds:

In the current market conditions, our scale, margins, financial strength and access to debt serve us well to compete in the seaborne global market, and we have recently utilised these advantages to grow the business by acquiring a high-margin, long-life asset.

Yancoal Australia shares are up 38% over the past 12 months.

The post ASX 200 coal stock slips on soft quarterly update appeared first on The Motley Fool Australia.

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• Why Boss Energy, Telix, Woodside, and Yancoal shares are falling today
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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.

Orthocell Ltd (ASX: OCC) shares are in focus today after its share price tumbled 7% to start the week of trading on Monday. 

This came following the company’s Quarterly Activity Report. 

Orthocell is a regenerative medicine company. The company is engaged in the development and commercialisation of biological medical devices, cell therapies, and related technologies to address unmet clinical needs in human health in the regenerative medicine industry.

What did Orthocell report?

The company released its Quarterly Report for the quarter ended 31 March 2026 yesterday. 

It reported: 

• Year-to-date (Q1–Q3 FY26) revenue of $9.4 million represents a 45% increase on the prior corresponding period
• March quarter revenue in line with the prior quarter, with U.S. sales reaching $300k
• Total revenue of $3.2m. 

Speaking on the result, Orthocell CEO and MD, Paul Anderson, said: 

This quarter reflects continued strong progress in the commercialisation of Remplir, particularly in the United States, where we are seeing growing surgeon adoption and increasing revenue contribution.

The consistency of our revenue performance and the growth in key commercial metrics, including hospital uptake, surgeon utilisation and distributor expansion, is particularly encouraging. Notably, the acceleration in U.S. revenue in March provides early evidence of a potential inflection point as these commercial efforts begin to scale.

Investors were seemingly left wanting more, as investors largely exited their positions in Orthocel shares on Monday. 

What did Bell Potter have to say?

Following the result, the team at Bell Potter released updated guidance on the company. 

The broker said the March quarter total revenue of $3.2m was flat QoQ (+45% pcp), which

appears broadly consistent with softer seasonal conditions typically seen in calendar Q1. 

It also pointed to some lag on repeat ordering as first use surgeons evaluate product performance in their own case. 

The quarter also marked the first meaningful US revenue contribution, with $300k of Remplir revenue, including $170k generated in March alone.

Speculative buy rating for Orthocell shares

Orthocell shares closed yesterday at $0.955 per shares after a 7.7% drop. 

However, Bell Potter maintained its speculative buy rating, while also increasing its price target to $1.240 (previously  A$1.150). 

From yesterday’s closing price, this updated target indicates an upside of approximately 30%. 

We maintain our BUY (spec.) recommendation and raise our valuation to $1.24. While the military hospital access win represents a meaningful de-risking event, we expect uptake across these channels to take time to establish, with the greater earnings contribution likely to emerge over later years.

The post Are Orthocell shares a buy after crashing 7% yesterday? appeared first on The Motley Fool Australia.

More reading

• Orthocell caps 26% surge this week with first US Military Surgery
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Motley Fool contributor Aaron Bell 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 Orthocell. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

When markets get noisy, investors usually crowd into the obvious narratives.

Right now, that has meant plenty of focus on war, energy shocks, inflation pressure, and whether artificial intelligence will upend huge parts of the software sector.

And yet, while much of the market has been distracted by those headline themes, two ASX small caps have simply kept getting on with the job.

Duratec Ltd (ASX: DUR) and Tasmea Ltd (ASX: TEA) are not the kinds of businesses that usually dominate cocktail-party investing conversations. They are not glamorous. They are not promising to reinvent the world. Yet, over the past 12 months, their share prices have climbed over 73% and 107% respectively.

That is a useful reminder that great investing does not always come from the loudest story. Sometimes it comes from relatively mundane businesses executing well in the background.

Two businesses built around essential work

Duratec is an engineering and contractor group with growing exposure to complex remediation, infrastructure, defence, and energy and resources work.

Recent announcements show why the market has been warming to it. In March, Duratec secured a contract at Newmont’s Lihir site in Papua New Guinea that is expected to generate around $45 million of revenue over an initial 12-month period, with potential for more scope over time. Management said the deal supported its strategy of doing more work with existing clients while expanding into new regions.

Then in April, Duratec’s 50:50 joint venture with Ertech was awarded a $281 million contract tied to infrastructure upgrades at HMAS Stirling in Western Australia. That followed an earlier $5.2 million early contractor award, taking the total value of the works to just under $300 million. The main works contract is expected to run for around 24 months.

That matters. Investors often pay more attention when a business starts shifting towards larger, longer-duration projects with better revenue visibility.

Tasmea, meanwhile, is a diversified specialist trade services group. It owns and operates 26 inter-dependent Australian specialist trade skill services businesses that support essential maintenance, shutdowns, emergency breakdown work, brownfield upgrades, and labour hire for blue-chip fixed plant asset owners.

Its operations reach across mining and resources, oil and gas, defence, infrastructure and facilities, power and renewables, telecommunications, retail, aged care, waste, and water. In other words, Tasmea sits inside parts of the economy that still need skilled hands, regardless of whether investors are currently obsessed with software or geopolitics.

Why business momentum has been strengthening

Tasmea’s recent half-year results gave the market more evidence that its growth is not just a story.

For the first half of FY26, Tasmea reported revenue of $400.5 million, up 62.4% on the prior corresponding period. Underlying operating profit (EBIT) rose 35.8%, while underlying net profit (NPAT) increased 31.8%. It also lifted its interim dividend by 20% to 6 cents per share.

Management has highlighted more than 100 executed master services agreements, high recurring revenue, and a twin-pillar strategy built on organic growth plus disciplined acquisitions.

That model helps explain the market’s growing confidence. Tasmea is not relying on a single product or a one-off trend. It is building scale across fragmented, essential services markets.

Duratec’s strengthening appears a little different, but still compelling. The company is winning work in sectors where trust, capability, and project execution matter. The PNG award expands its energy and resources footprint, while the HMAS Stirling contract strengthens its credentials in defence infrastructure and gives it more revenue visibility across the next two years.

The bigger lesson for investors

There is a reason these sorts of businesses can be overlooked.

They are not flashy. They do not fit neatly into the biggest market narratives of the moment. And they rarely get described as “world-changing”.

But the share market does not only reward excitement. It also rewards businesses that keep compounding through contract wins, earnings growth, disciplined expansion, and exposure to essential industries.

That is what makes Duratec and Tasmea interesting.

While investors worried about war headlines and AI disruption, these two ASX small caps kept doing practical work in the real economy, and the market noticed.

Sometimes, the big returns are hiding in plain sight.

The post While the market worried about war and AI, these 2 ASX small caps kept climbing appeared first on The Motley Fool Australia.

More reading

• Guess which ASX stock is flying after a huge defence contract win
• 2 ASX small-cap shares to buy with big potential for returns
• This ASX contractor just landed a PNG deal. So why is the share price falling?
• Are these ASX shares hitting 52-week highs still worth buying?

Motley Fool contributor Leigh Gant has positions in Duratec and Tasmea. 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.