Category: Stock Market

New research from the AFR and State Street shows that the ASX ETF market continues to grow at record pace. 

According to the report, the Australian market could grow to $380 billion in funds under management in 2026, up from about $320 billion last year and just $71 billion in 2020.

The rise of thematic investing

A significant shift that is contributing to this trend is the rise of thematic investing.

Traditionally, ASX ETFs were designed to track broad, diversified indexes like the S&P/ASX 200 Index (ASX: XJO) or S&P 500 Index (SP: .INX). 

However thematic funds focus on much more specific, niche sectors or “themes”. 

This focus can bring amplified returns when these sectors outperform the broader market, as investors gain concentrated exposure to high-growth areas. 

These can be areas like clean energy, artificial intelligence, or cybersecurity. 

However, this same concentration also introduces higher volatility and risk, particularly if the theme falls out of favour or fails to deliver on expected growth. 

Exploring which thematic funds have outperformed can give great insight into the broader economic landscape as to which industries and sectors are outperforming. 

With that in mind, here are three of the best thematic ASX ETFs over the last three years. 

Global X Semiconductor ETF (ASX: SEMI)

This ASX ETF seeks to invest in companies that stand to potentially benefit from the broader adoption of tech-enabled devices that require semiconductors. This includes the development and manufacturing of semiconductors.

It has risen more than 232% in the last three years, driven by the explosion in artificial intelligence.

Semiconductors are a special type of material that can control electricity – sometimes it lets electricity flow, sometimes it blocks it.

Because of this property, semiconductors are the building blocks of modern electronics. They’re used to make microchips, which power everything from your phone to cars to medical devices.

BetaShares Global Gold Miners ETF – Currency Hedged (ASX: MNRS)

This ASX ETF aims to track the performance of an index (before fees and expenses) that comprises the largest global gold mining companies (ex-Australia), hedged into Australian dollars.

In the last 3 years, it has risen more than 173%. 

It has risen over the past three years mainly because a strong bull run in gold prices boosted the profits of gold mining companies, whose earnings (and share prices) tend to increase faster than the underlying commodity.

VanEck Australian Banks ETF (ASX: MVB)

Put simply, this fund gives investors exposure to a portfolio of seven ASX-listed banks and financial institutions. 

This includes the big four banks. 

It has risen approximately 48% in the last three years, driven by high interest rates boosting bank profits, and solid dividend payouts attracting investors. 

The post 3 of the best performing thematic ASX ETFs over the last 3 years appeared first on The Motley Fool Australia.

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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 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.

European Lithium Ltd (ASX: EUR) has confirmed it plans to merge with its joint venture partner, Critical Metals Corp (NASDAQ: CRML), in a deal that will value it at more than $1 billion.

Significant takeover premium

Under the proposal, Critical Metals would acquire European Lithium in a scrip deal, offering 0.035 of its shares for each European Lithium share, valuing European Lithium at 58 cents per share.

This is more than a 100% premium from the closing price of 28.5 cents before European Lithium shares were placed in a trading halt last Friday.

European Lithium shareholders would own 45% of the combined company once the deal goes through.

European Lithium said in its statement to the ASX on Tuesday that the combination of the two companies would give shareholders exposure to “a NASDAQ-listed company with significantly higher liquidity and investor demand”.

It also points out that European Lithium’s largest asset is its 34% interest in Critical Metals.

As well as that relationship, the companies are joint venture partners in the Tanbreez rare earths project in Greenland, which Critical Metals owns 92.5% of and European Lithium the remainder.

The proposal is non-binding at this stage, and both companies have agreed to negotiate exclusively with one another, “to complete due diligence and execute a binding scheme implementation deed by 7 May 2026”.

Deal represents good value

European Lithium has established an independent board committee (IBC) to assess the merits of the deal.

European Lithium Independent Director and IBC Chair Michael Carter said:

This transaction will deliver substantial value to EUR shareholders, priced at a 136% premium. The combination will enable EUR shareholders to directly own interests in Critical Metals Corp. which will be strategically positioned as the sole owner of the Tanbreez rare earth project in Greenland and will benefit from substantial cash balances and a portfolio of critical minerals development opportunities.

European Lithium said the proposal was non-binding at this stage and shareholders did not need to take any action.

European Lithium said regarding the Tanbreez rare earths project that it was “an advanced, permitted asset poised to become a cornerstone in the global supply of rare earth elements for North America and Europe”.

Critical Metals also owns 100% of the Wolfsberg lithium project in Austria.

This was, European Lithium said, “a fully licensed, government-backed lithium mine built by the Austrian government and primed to play a central role in the region’s integrated lithium-ion battery supply chain”.

European Lithium shares were 57.9% higher in early trade at 45 cents.

The post This ASX lithium company’s shares have jumped more than 50% on major merger news appeared first on The Motley Fool Australia.

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• Is this ASX lithium stock a takeover target? Sure looks like it
• This ASX lithium stock just exploded 12%. Here’s what sparked it

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.

Beach Energy Ltd (ASX: BPT) shares are under pressure on Tuesday morning.

At the time of writing, the ASX 200 energy stock is down 4.5% to $1.14.

What is weighing on Beach Energy shares?

This weakness is being driven by the release of the company’s third-quarter update, which included softer sales, a guidance downgrade, and ongoing operational disruptions.

According to the release, Beach Energy reported production of 4.8 MMboe for the quarter, which was up 7% on the prior quarter.

However, this was overshadowed by a decline in sales volumes, which fell 10% quarter on quarter to 5.3 MMboe, and a 6% drop in revenue to $419 million.

Guidance downgrade disappoints

But the main thing weighing on Beach Energy shares has been a downgrade to its full year production guidance.

Beach Energy now expects FY 2026 production to be in the range of 19.4 MMboe to 20.3 MMboe. This is down from its previous guidance range of 19.7 MMboe to 22.0 MMboe.

Management attributed the revision to a combination of factors, including weather-related disruptions, ramp-up challenges at the Waitsia Gas Plant, and cyclone-related shutdowns.

These issues appear to have raised concerns about the company’s ability to deliver consistent production growth in the near term.

Mixed operational performance

While production increased overall, the performance across Beach Energy’s asset base was mixed.

The Perth Basin delivered strong growth, with production rising 174% due to the ramp-up of the Waitsia Gas Plant.

However, this was offset by declines elsewhere. Production in the Otway Basin fell 9% due to lower customer demand, while the Cooper Basin and Western Flank operations were impacted by severe rainfall, leading to lower output.

In addition, LNG volumes were significantly lower due to one less cargo during the quarter, which also weighed on sales and revenue.

On the pricing front, Beach Energy benefited from a 19% increase in realised oil prices to A$125 per barrel.

However, realised gas prices declined 6% to $11.2 per gigajoule, reflecting softer demand and lower spot pricing on the East Coast.

Management commentary

Commenting on the quarter, Beach Energy’s managing director and CEO, Brett Woods, said:

This was a pivotal quarter for Beach, with the Waitsia Gas Plant reaching 94% of nameplate capacity, the Equinox rig returning to commence Phase 2 of the Otway offshore campaign and a final investment decision was taken on the Moomba Central Optimisation (MCO) project. Combined with strong cash generation and three new tenement awards, the third quarter marks the continued progress on our strategy.

Strong free cash flow generation, supported by one Waitsia LNG cargo and strong oil pricing, saw Beach’s financial position continue to strengthen. Revenue of $419 million contributed to an increase in available liquidity to $974 million and a reduction in net gearing to 11%, providing optionality for future growth.

The post Why are Beach Energy shares sinking today? appeared first on The Motley Fool Australia.

More reading

• Beach Energy lifts production in Q3 FY26, updates outlook
• ASX 200 energy shares lift as pessimism over Iran war deepens
• Here are the top 10 ASX 200 shares today
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday

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.

A fresh quarterly update has given Whitehaven Coal Ltd (ASX: WHC) shares a boost during early Tuesday morning.

At the time of writing, the coal producer’s share price is up 3.77% to $7.99. That follows a weaker stretch, with the stock down around 15% over the past month.

Here’s what came through in the update.

Output falls after wet weather in key state

According to the release, Whitehaven reported managed ROM coal production of 9.5 million tonnes for the March quarter. That was down 14% on the December quarter, mainly due to wet weather in Queensland.

The drop was most visible, with Queensland production falling 28% quarter-on-quarter to 4.1 million tonnes.

New South Wales operations were steadier. Production came in at 5.4 million tonnes, broadly in line with the prior quarter.

Even with the softer production result, sales held up better. Equity sales reached 6.8 million tonnes for the quarter, which was consistent with December.

Stronger coal prices help offset lower volumes

One of the more supportive parts of the quarterly update came from pricing.

Whitehaven reported stronger realised prices across both metallurgical and thermal coal during the quarter.

In Queensland, average realised prices lifted, supported by stronger metallurgical coal benchmarks.

In New South Wales, pricing also improved, with realised thermal coal prices tracking above the NEWC index.

The company noted that tightening supply, partly linked to wet weather disruptions, helped support prices through the period.

Evidently, that helped offset some of the impact from lower production volumes.

Debt edges lower as buybacks continue

Whitehaven ended the quarter with net debt of around $600 million, down from $700 million at the end of December.

The company also completed a refinancing during April, which is expected to lower interest costs going forward.

Share buybacks continued throughout the quarter, with around $51 million of shares repurchased.

That brings total buybacks for the financial year to roughly $56 million.

Currently, Whitehaven has 824.73 million shares on issue.

Full-year outlook unchanged

Management left full-year guidance unchanged.

Managed ROM production is still expected to land between 37 million and 41 million tonnes for FY26.

Unit costs and capital expenditure are also tracking within previously guided ranges.

Looking ahead, development work continues across key projects including Vickery and Winchester South.

While these are longer-term projects, they are expected to support future production as development progresses.

What the market is focusing on next

This quarter was a bit messy, mainly due to weather, but pricing did a lot of the heavy lifting for Whitehaven.

The next step is seeing whether production can bounce back as conditions improve.

If volumes pick up and prices hold, that is where things start to look more interesting again.

The post Why Whitehaven Coal shares are rising today despite a rough month appeared first on The Motley Fool Australia.

More reading

• Whitehaven Coal shares: Q3 FY26 shows steady sales, improved pricing
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• Whitehaven shares are up 80% in a year. Here’s why investors still see upside

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.

Perseus Mining Ltd (ASX: PRU) shares are slipping today.

Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $5.59. In early morning trade on Tuesday, shares are changing hands for $5.55 apiece, down 1.6%.

For some context, the ASX 200 is down 0.6% at this same time, while the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down a steeper 2.1%.

Here’s what’s happening.

Perseus Mining shares slip despite ‘key milestone’

In a release labelled non-price sensitive to Perseus Mining shares, the company announced that it has successfully completed the first underground production blast at its CMA Underground project, located in Cote D’Ivoire.

Excavation of the first production ore commenced immediately after the blast.

The ASX 200 gold stock said that this “key milestone” for the project marks an important part of the mine’s ongoing ramp-up toward steady-state production. That’s targeted for the third quarter of FY 2027.

Perseus’ CMA Underground mine is the first mechanised underground mine in Cote D’Ivoire.

What did management say?

Commenting on the progress that should help support Perseus Mining shares longer term, managing director and CEO Craig Jones said:

The first production blast is a defining moment for Perseus and Cote d’Ivoire, representing the culmination of many months of intensive underground development, drilling and infrastructure installation.

This is a testament to the hard work and dedication of our site team and contractors, and we look forward to scaling up operations over the coming months with the higher-grade underground ore providing mill feed.

What else has been happening with Perseus Mining shares?

Perseus Mining released its March quarter (Q3 FY 2026) update last Thursday, 23 April.

Highlights for the three months included a 21% quarter-on-quarter increase in gold production to 107,144 ounces.

And, pleasingly, costs came down. The ASX 200 miner reported all-in site costs (AISC) of US$1,748 per ounce in Q3, down from US$1,800 the prior quarter.

Perseus achieved an average sales price for its gold of US$4,143 per ounce.

The miner reported third-quarter operating cash flow of US$252 million.

Turning to the balance sheet, as at 31 March, Perseus Mining held cash and bullion of US$817 million.

Looking at what could impact Perseus Mining shares in the months ahead, the miner reaffirmed its FY 2026 production guidance of 400,000 ounces to 440,000 ounces of gold. Management forecasts an AISC of US$1,600 to US$1,760 per ounce.

Atop aiming for commercial production from the CMA Underground mine in Q3 FY 2027, as mentioned above, Perseus is also targeting first gold from its Nyanzaga project, located in Tanzania, in January 2027.

Perseus Mining shares remain up 71.8% over 12 months, not including dividends.

The post Buying Perseus Mining shares? Here’s the latest big news out of Africa 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.

There are some ASX value stocks that could be too cheap to miss amid the current market conditions. As Warren Buffett likes to say, be greedy when others are fearful.

The business HMC Capital Ltd (ASX: HMC) has seen its share price drop 57% since May 2025, at the time of writing, as the below chart shows.

When a solid business goes through a big slump like that, it could be a great idea to jump on the opportunity while it’s still there, assuming the business is capable of growing its underlying earnings and value.

For readers who haven’t heard of this business before, it’s a diversified alternative asset manager focused on real estate, private equity, the energy transition, digital infrastructure, and private credit. It manages close to $20 billion on behalf of institutional, high-net-worth, and retail investors.

Why the ASX value stock looks like a great buy

For starters, when I’m considering a beaten-up stock, I want to see that core earnings drivers have a good longer-term outlook.

As a fund manager, a key driver is the assets under management (AUM) because that means more management fees.

In the FY26 half-year period, the business reported that its recurring earnings “stepped up meaningfully”, with management fees growing to $84.5 million – this represented a year-over-year increase of 34%.

The business also reported that between June 2025 and December 2025, its AUM increased by 4% year over year.

In my view, one of the biggest recent positive moves by HMC Capital was establishing a strategic partnership with KKR for an investment of $603 million to “realise value” in the HMC Energy Transition Platform.

It noted progress across a 5.7GW development pipeline, positioning the business to unlock substantial embedded value as key projects approach the final investment decision (FID) over the next 12 to 18 months.

HMC Capital estimates that its funds management operating profit (EBITDA) will be $85 million in FY26, with forecast 15% year-over-year growth in real estate EBITDA and 20% growth in private credit EBITDA.

Great valuation

The ASX value stock is expecting to generate pre-tax operating earnings per security (EPS) of at least 40 cents, which puts it at 6x this metric.

The projection on CMC Markets currently suggests that the business could generate actual EPS of 33.1 cents. That means the business is valued at just 7.4x FY26’s estimated earnings.

As a bonus, the dividend yield looks attractive too. It has provided guidance that it will pay a dividend of 12 cents per share, which equates to a dividend yield of close to 5%.

The post After crashing 57%, this ASX value stock looks filthy cheap with a P/E of just 7 appeared first on The Motley Fool Australia.

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• 3 of the best performing thematic ASX ETFs over the last 3 years
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• Why are Beach Energy shares sinking today?
• Why Whitehaven Coal shares are rising today despite a rough month
• Buying Perseus Mining shares? Here’s the latest big news out of Africa

Motley Fool contributor Tristan Harrison 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 HMC Capital and KKR. The Motley Fool Australia has recommended HMC Capital. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Deep Yellow Ltd (ASX: DYL) shares are pushing higher on Tuesday after the uranium developer released its March quarter update.

At the time of writing, the Deep Yellow share price is up 1.29% to $1.96.

While the quarter was predominantly centred on progressing its flagship project in Namibia, work also continued across its other assets.

Here’s what came through.

Tumas project moves another step forward

For the 3 months to 31 March, Deep Yellow continued advancing its Tumas Project as it moves through development.

Detailed engineering reached 68%, while bulk earthworks hit 91% by the end of March.

The company said tendering is now complete for 79% of major process plant equipment packages. This is expected to support planning ahead of a final investment decision (FID).

Work on site has included excavation, backfilling, and early preparation around the processing plant and supporting infrastructure.

Deep Yellow also noted that civil construction is expected to begin in the next quarter.

Overall, the project is getting closer to construction, with the remaining steps centred on approvals and funding.

More drilling and studies across the portfolio

Outside of Tumas, exploration activity continued across its Namibian assets.

Drilling at the Tinkas prospect was completed in March, covering 133 holes for 1,363 metres.

Results confirmed uranium mineralisation and also pointed to further potential across the broader Tumas district.

The company expects that more drilling will be needed to define a resource in that area.

Elsewhere, trade-off studies at the Mulga Rock Project in Western Australia are ongoing, feeding into an updated feasibility study.

Early pilot work has backed up earlier recovery expectations, with the company also looking at ways to bring costs down.

At the Alligator River Project in the Northern Territory, seismic surveys have helped pinpoint the best areas to target for future drilling.

Balance sheet remains well funded

Deep Yellow ended the quarter with a cash balance of $171.6 million.

That leaves it in a solid position as it continues advancing Tumas and its wider portfolio of assets.

The company said uranium market conditions remained supportive during the period.

Long-term contract activity is starting to pick up, with utilities moving to secure supply amid growing demand expectations.

Uranium prices have also held up, despite some volatility in spot markets.

What investors will be watching next

Deep Yellow’s latest update shows its flagship project continuing to move forward across a few key areas.

Engineering, procurement, and site works are all advancing and are tracking to plan.

The key things to watch will be timing and costs at Tumas as the project moves into its next stage.

The post This ASX uranium stock is powering up today. Here’s what just dropped 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.

The Greatland Resources Ltd (ASX: GGP) share price is in focus today after the company posted a record $260 million cash build for the March quarter, with strong gold output and a solid operational performance adding to a bumper closing cash balance of $1.2 billion.

What did Greatland Resources report?

• Quarterly production of 82,723 ounces of gold and 4,128 tonnes of copper at an AISC of $2,056/oz
• Sales of 97,800oz gold and 4,620t copper generated net revenue of $742 million
• Cash flow from operations was $453 million, lifting closing cash to $1,208 million (up from $948 million)
• No lost time injuries, with a 12-month moving LTIFR of 0.2
• Significant Telfer Mineral Resource Estimate (MRE) upgrade: total group resources now 14.9Moz gold & 645kt copper
• Investment of $42 million in Telfer growth capex and continuation of a record drilling program

What else do investors need to know?

Greatland remains debt-free and holds a total liquidity position of $1.28 billion, including an undrawn $75 million working capital facility. The company maintains full upside exposure to the gold price, with partial downside protection from gold put options for coming quarters.

Operationally, the company is progressing its Havieron gold-copper development, with permitting moving forward and early decline tunnel works underway, expected to de-risk long-term production. The latest resource upgrades at Telfer and O’Callaghans also increase the size and quality of Greatland’s mineral inventory, supporting ambitions for long-life mining in the Paterson region.

What’s next for Greatland Resources?

Looking ahead, Greatland expects full-year gold production to be near or above the top end of its guidance, while costs should be toward the low end of its forecast range. The business aims to advance development at Havieron and maintain a focus on extending mine life at Telfer.

Drilling remains a key priority, with the large-scale program on track for 240,000 metres this financial year. Management is also monitoring industry cost pressures, especially around diesel, but notes that Telfer’s exposure is modest and well managed via long-term supply agreements.

Greatland Resources share price snapshot

For the year to date, Greatland Resources shares have increased 46%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.

View Original Announcement

The post Greatland Resources posts record March quarter cash build and gold-copper resource growth appeared first on The Motley Fool Australia.

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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.

Predictive Discovery Ltd (ASX: PDI) shares are pushing higher on Tuesday after the gold miner delivered a standout quarterly update.

The ASX 200 gold share is up 3% to 98.5 cents at the time of writing.

ASX 200 gold share push higher on strong update

According to the release, Predictive Discovery is scaling up quickly following the ramp-up of its production assets.

The gold miner revealed that revenue surged to US$200.8 million for the three months, representing a massive 321% increase compared to the prior quarter.

This was driven by a sharp lift in gold sales volumes and stronger realised gold prices (US$4,806 per ounce) during the period.

Gold sales climbed 271% quarter on quarter to 41,799 ounces, while production jumped 308% to 48,178 ounces as operations at the Kiniero mine accelerated.

Production ramp-up driving momentum

A key contributor to this growth has been the rapid ramp-up at the Kiniero Gold Mine in Guinea.

Production from Kiniero surged as the operation moved through commissioning and into commercial output, delivering a major uplift in group performance.

At the same time, the Nampala mine in Mali continued to provide steady production, supporting overall output.

Encouragingly, costs are also moving in the right direction. The ASX 200 gold share reported a 37% reduction in all-in sustaining costs (AISC) to US$1,192 per ounce. This reflects improved operating leverage and the contribution of lower-cost production from Kiniero.

Strong cash generation

Beyond production growth, the quarter also highlighted the company’s increasing ability to generate cash.

Predictive Discovery delivered a cash margin from operations of US$139 million, underpinned by higher production and favourable gold prices.

Its balance sheet also remains solid, with significant cash holdings following the completion of its merger with Robex Resources.

Outlook

Management has provided production guidance of 198,000 to 220,000 ounces for 2026, comprising 157,000 to 174,000 ounces from Kiniero and 41,000 to 46,000 ounces from Nampala.

Cost production guidance will be released in the June quarter, following two full quarters of production at Kiniero.

In addition, the ASX 200 gold share reaffirmed that it is progressing development work at its large-scale Bankan Gold Project. This is expected to become a cornerstone asset over the longer term.

Furthermore, the merger between Predictive Discovery and Robex Resources completed on 15 April 2026. It notes that this has created a leading West African gold production and development company targeting 400,000 ounces of gold production per annum by 2029.

The post This ASX 200 gold share just recorded 321% revenue growth appeared first on The Motley Fool Australia.

More reading

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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.

Capricorn Metals Ltd (ASX: CMM) shares are falling on Tuesday morning.

At the time of writing, the ASX 200 gold stock is down 2.5% to $11.15.

What’s going on with this ASX 200 gold stock?

A pullback in the gold price overnight appears to be overshadowing the release of a strong exploration update from the company’s Mt Gibson Gold Project, which highlighted exceptional drilling results from the Lexington underground prospect.

According to the release, the first seven holes from the drilling program have delivered significant high-grade gold intercepts.

These results include standout intersections such as 13.1 metres at 13.93 grams per tonne gold and 28.6 metres at 5.35 grams per tonne gold, pointing to a potentially high-quality underground resource.

Expanding underground potential

Importantly, all the drilling results reported to date sit outside the current resource envelope.

This suggests that the Lexington zone could materially expand the scale of the Mt Gibson project beyond its existing open pit and underground resources.

Management highlights that the mineralisation extends between 85 metres and 365 metres below current resources, confirming the depth potential of the system.

The drilling program has also extended high-grade mineralisation to over 900 metres of strike and more than 500 metres below current reserve pit designs, with the system remaining open in all directions.

Building on Orion South success

The Lexington prospect sits approximately 600 metres north of the Orion South underground deposit, which already hosts a substantial resource.

Together, the two areas now represent a combined 2.1-kilometre strike length of drilled mineralisation.

Encouragingly, the ASX 200 gold stock believes this is only a small portion of a much larger 8-kilometre mineralised trend across the broader Mt Gibson project.

This raises the possibility of a large-scale, long-life underground mining operation developing over time.

The ASX 200 gold stock’s executive chair, Mark Clark, described the results as some of the strongest underground intercepts seen at Mt Gibson to date. He said:

The drilling at Lexington has delivered some of the strongest underground intercepts we have seen at Mt Gibson to date. These outstanding results highlight the scale, continuity and high-grade tenor of the system defined between Orion South and Lexington, which is now clearly emerging as a major underground discovery with genuine potential to add a significant long-life, high-margin underground mining operation to the Mt Gibson project.

The post Which ASX 200 stock is falling despite big news appeared first on The Motley Fool Australia.

More reading

• Capricorn Metals reports Mt Gibson gold results
• 5 things to watch on the ASX 200 on Thursday
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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.