Category: Stock Market

The copper price surged to a new all-time high earlier this week, breaking through US$11,770 per tonne on the London Metal Exchange.

The metal has now climbed by more than 30% since early January, helping to drive strong gains for some of the leading ASX copper stocks.

For example, shares in the world’s biggest copper miner BHP Group Ltd (ASX: BHP) are currently flirting with 52-week highs.

Overall, BHP shares have risen by about 13.6% since the start of the year to $45.39 per share at the time of writing.

Pure-play ASX 200 copper stocks have performed even better.

Shares in Capstone Copper Corp (ASX: CSC) have soared by 43% in the same period, with Sandfire Resources Ltd (ASX: SFR) shares also rocketing by 81%.

But one lesser-known copper exploration stock has stolen the spotlight in recent weeks.

That company is Havilah Resources Ltd (ASX: HAV), and a major development in November sent its share price soaring.

Let’s take a closer look at what unfolded.

Diversified ASX exploration stock

Havilah operates a portfolio of five exploration projects scattered across the Curnamona Province in northeastern South Australia.

Collectively, these assets are prospective for various commodities such as copper, gold, uranium, and iron ore.

However, the group’s flagship asset is the Kalkaroo copper, gold, and cobalt project.

Management believes Kalkaroo represents one of the larger undeveloped open-pit copper deposits in Australia.

It contains 1.1 million tonnes of copper, 3.1 million ounces of gold, and 23,200 tonnes of cobalt.

And last month, Havilah signed a transformative agreement with Sandfire that could move Kalkaroo closer to production.

What happened?

In essence, the two ASX copper stocks agreed to jointly advance Kalkaroo and form a strategic exploration alliance across the Curnamona Province.

Under the agreement, Sandfire can earn an 80% interest in Kalkaroo through a two-stage earn-in structure.

Firstly, the deal involves a $105 million upfront consideration to Havilah, comprising 70% Sandfire shares and 30% cash.

Secondly, Sandfire committed to spending another $105 million after completing a new pre-feasibility study (PFS) assessing the merits of building a mine at Kalkaroo.

Separately, Sandfire will also spend $30 million in regional exploration as it looks to unearth new copper mineralisation across the Curnamona Province.

Havilah Resources Technical Director, Dr Chris Giles, commented:

We are very pleased to have reached a binding agreement with Sandfire that provides for completion of a new Kalkaroo PFS, including a substantial drilling program targeting resource upgrade and expansion…

Immediate value for Havilah shareholders will be realised via an upfront payment, which also gives Havilah a direct stake in Sandfire’s successful global mining operations via the share component.

Havliah share price in focus

The market appeared to back the agreement.

Since the deal was revealed, shares in Havilah have moved from $0.27 a month ago to $0.57 per share at the time of writing.

This equates to a 111% return for shareholders in this ASX copper stock.

For comparison, the All Ordinaries Index (ASX: XAO) is down by around 1.8% across the same timeframe.

The post This little-known ASX copper stock has bolted 111% in just one month. Here’s why appeared first on The Motley Fool Australia.

More reading

• Copper miner’s shares rocket 30% on deal with Sandfire Resources

Motley Fool contributor Bart Bogacz 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.

The Ampol Ltd (ASX: ALD) share price is in focus after the company announced a new A$500 million delayed-draw subordinated notes facility to support upcoming strategic moves, including its proposed acquisition of EG Australia and refinancing of existing debt.

What did Ampol report?

• Launched a wholesale offering of A$500 million delayed-draw subordinated notes
• Facility can be drawn in up to two tranches of A$250 million each over a ~13-month period
• Net proceeds earmarked for EG Australia acquisition and partial refinancing of March 2027 hybrid
• Notes feature a 12-year non-call period and 30-year final maturity
• Full A$500 million facility already fully underwritten by cornerstone institutional investors

What else do investors need to know?

Ampol’s innovative delayed-draw feature gives it increased flexibility, allowing the company to tap committed capital when needed over the next 13 months. This builds on its A$500 million subordinated notes issuance in October 2025, further strengthening its capital management plan.

The new facility is not being offered to retail investors and will not require disclosure under standard Australian corporate regulations. Moody’s is expected to grant the notes 50% equity credit, consistent with Ampol’s existing subordinated notes.

What did Ampol management say?

Greg Barnes, Group Chief Financial Officer, said:

We’re delighted to announce this new financing facility, which provides Ampol with a valuable form of long-dated capital linked to our proposed acquisition of EG Australia (which is subject to clearance from the Australian Competition and Consumer Commission) and future hybrid refinancing initiatives. Investor commitments and issue pricing will be fixed upfront. Current market conditions are attractive and provide an opportune time to secure long-term financing. The unique delayed-draw feature gives Ampol significant flexibility with regards to issue timing, as well as use of proceeds and cancellation rights. The transaction is another example of our proactive approach to capital management.

What’s next for Ampol?

Ampol plans to use the proceeds firstly to help finance the purchase of EG Australia, subject to regulatory approval, and secondly to refinance existing subordinated notes callable in March 2027. The move sets the company up for steady long-term funding and increases its financial flexibility.

The closing date for institutional investor offers is expected to be on or about 19 December 2025. Successful execution of the facility will help ensure support for Ampol’s current capital allocation framework and strategic growth agenda.

Ampol share price snapshot

Over the past 12 months, Ampol shares have risen 18%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Ampol launches $500 million subordinated notes facility to back EG Australia acquisition 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.

If you’re unsure where to invest your hard-earned money and need a few ideas to narrow down your choices, here are the ASX 200 shares that have caught my eye this week.

Washington H. Soul Pattinson and Company Ltd (ASX: SOL)

When it comes to passive income, Australian dividend royalty Soul Patts is high on my list. The company has the longest streak of annual dividend increases on the index. In FY25, it paid a total $1.03 per share, 100% fully franked. 

At the time of writing, the shares are trading at $35.40, and analysts have a unanimous neutral stance on the stock. However, they have a consensus $43.15 target price on Soul Patts shares, which implies a potential 21.89% upside over the next 12 months.

CSL (ASX: CSL)

CSL shares also made my list last week, but the stock is still very much on my radar. 

The Australian-based global biotechnology business has suffered a couple of brutal sell-offs this year, but I think the worst is finally over for the ASX 200 company and its shares.

CSL shares have gathered a lot of attention from CommSec investors recently, and have made the list of most-traded Aussie shares by CommSec clients yet again. If investor interest continues ramping up, I think the share price could too. 

Data shows the majority of analysts have a strong buy rating on CSL with a target price as high as $274.32. That implies a potential 52.26% upside from the $180.16 trading price at the time of writing.

WiseTech Global (ASX: WTC)

In the tech space, I still have my money on WiseTech shares. The shares suffered a steep sell-off last month, but I’m not concerned. The company has previously demonstrated resilience through various economic cycles, and it’s well-positioned to benefit from surging demand in emerging tech trends like automation and cloud computing.

I think the current $71.80 trading price presents a fantastic buying opportunity for investors looking to get in on a quality stock for cheap. 

Analysts are bullish on the ASX 200 share. The data shows 14 out of 16 have a buy or strong buy rating on the shares, with a maximum target price of $178.13. At the time of writing, that implies the shares could storm 146.68% higher.

Megaport Ltd (ASX: MP1) 

Megaport shares suffered amid the tech-sector sell-off last month. The software-defined network (SDN) service provider’s shares are currently 22.25% lower than their 3.5-year peak early last month. But they’re still up an impressive 85.58% for the year to date.

And it looks like there is a mega amount of growth ahead for the company, too. Its recent acquisition of Latitude.sh boosts Megaport’s existing offerings and provides a direct entry into a large, fast-growing end market.

Analysts are bullish on this stock as well and expect the share price to rise as high as $21.70, which implies a potential 57.59% upside at the time of writing.

Nextdc Ltd (ASX: NXT) 

Nextdc shares soared nearly 80% from a multi-year low in April to an annual high of $17.99 in mid-September. The soaring share price came in leaps following solid financial results in April and August. The company also experienced a flurry of contract wins and elevated demand for data centre capacity. 

It also has significant growth plans in the pipeline. The company is bringing major new facilities online across key markets. Each one of these typically ramps up utilisation over several years, which helps to drive recurring revenue higher without steep costs.

Analyst consensus is for a buy or strong buy rating on the ASX 200 company’s shares with a maximum target price of $28.89. That’s a potential upside of a huge 110.65% at the time of writing.

The post 5 ASX 200 shares I’d buy with $10,000 this week 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 positions in and has recommended CSL, Megaport, Washington H. Soul Pattinson and Company Limited, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited and WiseTech Global. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Steadfast Group Ltd (ASX: SDF) share price comes into focus today as the company releases an investor update highlighting $127.7 million of recent acquisitions and an average 2.4% increase in base insurance premiums across its broker networks.

What did Steadfast Group report?

• Completed $127.7 million in acquisitions year-to-date for FY26 up to 30 November 2025
• Average year-to-date base insurance premium increase of 2.4% across the network
• Head office and subsidiary cost-saving measures expected to deliver $3.6 million in annualised savings (pro rata for 2H26)
• Australasian broker network grew from 402 to 421 brokers, with a ~25% increase in broker licence fee revenue for FY26
• Strong uplift in revenue mix, with a strategic shift from commission to fee revenue
• Ongoing investment in technology and underwriting agency modernisation

What else do investors need to know?

Steadfast continues to manage its expense base carefully, reporting reductions in non-critical marketing, events, and head office roles, while leveraging group scale to manage vendor spend more efficiently. The board has approved an increase in the group’s maximum gearing ratio to 40% (excluding premium funding borrowings) to support further growth and acquisitions.

The company’s acquisition strategy remains active, with $128 million of Australasian acquisitions completed so far in FY26, and a further $202 million in the “trapped capital pipeline” expected to complete by year-end, including opportunities such as Rothbury in New Zealand. Steadfast also highlighted successful consolidation and integration initiatives within its broker and underwriting networks.

What’s next for Steadfast Group?

Looking ahead, Steadfast will maintain its dual focus on organic and inorganic growth, particularly across the Australasian and international insurance networks. The group sees further opportunity in agency hubbing and technology investment to drive efficiency and client outcomes.

Steadfast is also working cooperatively with the ACCC as Australia’s new merger control regime begins on 1 January 2026, aiming to keep acquisition processes smooth and regulatory-compliant. The company’s expanding global footprint, especially following recent European and US acquisitions, should provide further scale benefits in the coming year.

Steadfast Group share price snapshot

Over the past 12 months, Steadfast shares have declined 14%, underperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Steadfast Group share price: $127.7m in acquisitions, premium growth in FY26 investor update 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 positions in and has recommended Steadfast Group. The Motley Fool Australia has positions in and has recommended Steadfast Group. 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.

There are lots of ASX stocks to choose from on the Australian share market.

But which are buys, holds, and sells? Let’s take a look at three popular options and see if analysts are bullish, bearish, or something in between. They are as follows:

Bapcor Ltd (ASX: BAP)

This auto parts retailer’s shares have come under significant pressure this month after downgrading its guidance for a second time.

While Morgans feels that this share price weakness could make the company a takeover target again, it isn’t enough for the broker to recommend Bapcor as a buy. Instead, it has put a hold rating and $1.95 price target on its shares.

Commenting on its recommendation, Morgans said:

Management reiterated confidence in a materially improved 2H (implied ~A$40m NPAT at the midpoint); however, the magnitude and timing of today’s downgrade – coming shortly after the 20-Oct update – warrants some caution around 2H expectations. The balance sheet also appears to be a point of concern, with BAP in discussions with lenders for covenant relief in FY26, with our estimates for gearing potentially approaching/exceeding the current covenant of ~3.0x (MorgansF ~3.05x).

Given significant share price weakness, renewed corporate appeal may arise. However, absent a takeover, we view the investment case as challenged given the sharp deterioration in earnings visibility, ongoing staff turnover, margin pressure, market share losses, balance sheet risk, and anaemic sales growth.

Guzman Y Gomez Ltd (ASX: GYG)

Morgans is more positive on this quick service restaurant operator and has named it as a buy with a $32.30 price target.

The broker feels that the burrito seller’s latest limited-time offer could be a boost to sales growth and supportive of its margins. It said:

GYG has launched its latest limited-time offer (LTO): the BBQ Chicken Double Crunch (BBQ CDC). Early feedback suggests the item is one of GYG’s more indulgent menu items and taste tests have been overwhelmingly positive. The product leverages existing ingredients, meaning no incremental complexity or cost for stores, a margin-friendly innovation that aligns with GYG’s operational discipline. Management has repeatedly emphasised that menu innovation is a key lever for same-store sales (SSS) growth, and this launch reinforces that commitment. We reiterate our BUY rating.

Nextdc Ltd (ASX: NXT)

Over at Ord Minnett, its analysts were pleased with recent updates from this data centre operator.

In response, the broker has retained its buy rating on NextDC’s shares with an improved price target of $20.50.

Commenting on its deal with ChatGPT owner, OpenAI, it said:

Ord Minnett also sees upside from the agreement between NextDC (NXT) and Open AI, whose ChatGPT product is the most popular of the artificial intelligence apps, to collaborate on the development and operation of the Australian company’s S7 data centre site at Eastern Creek in Sydney’s west where it plans to build a hyperscale AI campus and a large ‘supercluster’ of GPUs (graphics processing units). ‍

We have raised our target price on NextDC to $20.50 from $19.00 to incorporate our assumed value of the agreement with Open AI, although we have not yet changed our earnings estimates due to the lack of detail and operational timelines. We reiterate our Buy recommendation.

The post Buy, hold, sell: Bapcor, Guzman Y Gomez, and NextDC appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Nextdc. 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.

APA Group (ASX: APA) shares are in the green on Thursday morning. At the time of writing, the shares are 0.22% higher at $9.12 each. That’s a 3.18% drop over the month but an impressive 29.91% hike over the year to date.

What about passive income from APA shares?

When it comes to high-yield dividends in the S&P/ASX 200 Index (ASX: XJO), the energy infrastructure group is a quiet achiever.

APA’s business is dependable. The company operates gas pipelines and energy infrastructure across Australia, with the majority of its revenue generated from long-term contracts. That means its cash flow, and therefore its dividends, are fairly predictable too.

In fact, APA has one of the longest dividend growth streaks on the ASX, having hiked its payout every year for the last 20 years. Its yield is usually much higher than the wider market, too, which makes it an appealing option for investors seeking an ongoing passive income.

In FY25, the company increased its annual dividend distribution by 1.8% to 57 cents per security. Dividend growth is never guaranteed to continue, but it looks like increases are likely for FY26 and beyond.  

APA said it plans to increase its payout to 58 cents per security in FY26, translating into a forward distribution yield of 6.2%.

It looks like the infrastructure group could easily increase its payout to at least 59 cents in FY27 and 60 cents in FY28.

What do the experts think of the stock?

Overall, analyst consensus is for a neutral stance on the stock. Data shows that 7 out of 10 analysts have a hold rating on APA shares. Another 2 have a buy or strong buy rating, and 1 has a sell rating.

At the time of writing, the average target price is $8.88; however, some expect the share price to climb up to $9.65.

Analysts at Macquarie are much more bullish than the majority. The broker recently raised its target price on APA shares following the company’s joint-venture announcement earlier this month. 

APA signed an agreement with CS Energy on the 2nd December to develop a new gas-powered plant in Queensland. APA said the investment in the plant is expected to “deliver returns consistent with its required return hurdles, will be funded from existing balance sheet capacity and forms part of APA’s $2.1 billion organic growth pipeline”. 

The broker has an outperform rating and $9.23 target price on APA Group shares. 

The post Are APA shares a good buy for passive income? 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 positions in and has recommended Apa Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Fenix Resources Ltd (ASX: FEX) shares are shooting higher on Thursday morning.

At the time of writing, the ASX mining stock is up 14% to 49.5 cents.

Why is this ASX mining stock rocketing?

Investors have been bidding the iron ore producer’s shares higher after it unveiled an ambitious, three-year production strategy.

According to the release, Fenix has outlined a major ramp-up in output across FY 2026, FY 2027, and FY 2028.

The ASX mining stock confirmed a transition from its current mines, Iron Ridge and Shine, toward the larger-scale Weld Range Project, which is set to become the company’s long-term production hub.

The plan reveals that Fenix is targeting:

• 2 to 4.8 million tonnes of iron ore production in FY26 (upgraded from prior guidance).
• 4.7 to 5.3 million tonnes in FY 2027.
• 4 to 6 million tonnes in FY 2028, driven largely by ramp-up at the Beebyn Hub.

In total, around 15 million tonnes of ore is scheduled to be mined over the period, with 100% coming from ore reserves or measured and indicated mineral resources.

This represents a significant scale-up from the 2.4 million tonnes produced in FY 2025.

Fenix has also reiterated its FY 2026 cost guidance of A$70 to A$80 per tonne, with sustaining capital for the three-year period estimated at $35 million to $45 million. The latter is fully funded through cash flow and existing facilities.

‘Exciting plan to create exceptional value’

The ASX mining stock’s executive chair, John Welborn, was very pleased with the plan. He said:

Fenix has a clear and exciting plan to create exceptional value for our shareholders by delivering on our growth objectives. Having secured the 290 million tonne Weld Range Project, we are now centralising our mining activities and ramping up our production while we work on a feasibility study to transform the business. The 3-Year Plan confirms our near-term growth ambitions and will provide a strong revenue base for Fenix to become a larger, more profitable and sustainable iron ore producer.

This growth plan is organic and, consistent with our successful track record of incremental growth, capable of being fully funded from our operational cash flow and existing finance facilities. The outlook is underpinned by realistic production forecasts and cost assumptions and focuses on maximising the utilisation of our existing infrastructure assets in Western Australia’s Mid-West.

With a clear pathway to becoming a 6Mtpa producer, today’s surge suggests investors believe Fenix may be entering a new growth phase.

The post Guess which ASX mining stock is rocketing 14% on production plans 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.

The Flight Centre Travel Group Ltd (ASX: FLT) share price is lifting off today.

Shares in the S&P/ASX 200 Index (ASX: XJO) travel stock closed yesterday trading for $13.97. In morning trade on Thursday, shares are swapping hands for $15.19 each, up 8.7%.

For some context, the ASX 200 is up 0.7% at this same time.

Today’s strong outperformance follows news of a strategic acquisition and an upgrade to Flight Centre’s FY 2026 profit guidance.

Here’s what’s happening.

Flight Centre share price lifts on acquisition news

This morning, Flight Centre reported it had agreed to acquire the United Kingdom-based online cruise agency Iglu.

Flight Centre will pay 100 million pounds (AU$201 million) upfront for Iglu, and up to 27 million pounds in performance-based earnouts.

The company said the acquisition will accelerate its growth ambitions into the “highly attractive cruise sector”, noting it will deliver scale, advanced technology, and broader access to the UK, which is the world’s third-largest cruise market.

The Flight Centre share price could get long-term support from the acquisition, with the company indicating that sales at both Flight Centre and Iglu have increased 15% to 20% year on year, “driven by a resilient customer base and a supply chain that is investing heavily in new ships and partnerships”.

The company also highlighted Iglu’s strong margin profile with a 3.1% FY 2025 earnings before interest, taxes, depreciation and amortisation (EBITDA) margin. That compares favourably to the 2.2% EBITDA margin across Flight Centre’s leisure division.

With the Iglu acquisition, Flight Centre’s cruise-related total transaction value (TTV) will almost double to more than $2 billion (annualised) during FY 2026. That’s two years ahead of the company’s previous plan.

Commenting on the Iglu acquisition that looks to be helping boost the Flight Centre share price today, managing director Graham Turner said:

This acquisition delivers immediate shareholder value through EPS accretion and is a game-changer in terms of the future opportunities it unlocks in the global cruise market. Iglu brings a strong brand and a scalable technology platform that aligns with FLT’s strategic objectives.

Iglu CEO David Gooch, who will continue to lead the business post-acquisition, added, “By leveraging Iglu’s world-leading ecommerce platform alongside Flight Centre’s global experience, we are perfectly positioned to capture market share.”

The acquisition remains subject to a number of procedural steps, but management expects it to be completed today.

What else is boosting the ASX 200 travel share?

The Flight Centre share price is also getting a lift today following upgraded full-year profit guidance.

Management now expects FY 2026 underlying profit before tax (UPBT) to be in the range of $315 million to $350 million. That’s up from prior guidance of $305 million to $340 million.

The mid-point of the new profit range would mark 15% growth on FY 2025’s $289.1 million UPBT result.

The post Flight Centre share price soaring 9% on big acquisition news 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 recommended Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Predictive Discovery Ltd (ASX: PDI) share price is in focus today after announcing an amended arrangement agreement with Robex, giving Predictive Discovery shareholders 53.5% and Robex shareholders 46.5% of the merged company. The revised deal is now preferred over the previous Perseus proposal, with clear backing from major Predictive Discovery shareholders.

What did Predictive Discovery report?

• Predictive Discovery will acquire all Robex shares, offering 7.862 PDI shares for each Robex share
• Predictive Discovery and Robex shareholders will own about 53.5% and 46.5% respectively of the combined entity
• Robex shareholders, directors and officers holding around 23.8% of Robex shares have signed amended support agreements
• The Robex shareholder meeting to approve the deal has been moved to 30 December 2025
• The previously announced Perseus acquisition proposal is no longer considered superior

What else do investors need to know?

The amended deal strengthens the medium to long-term value for Predictive Discovery shareholders, as it combines two of West Africa’s most advanced, large-scale gold projects. Both companies bring extensive development experience, with Robex’s team set to support the Bankan Project’s ramp-up.

Key benefits from the deal include the potential for production exceeding 400,000 ounces of gold per year by 2029, a combined mineral resource of around 9.5 million ounces, and increased financial flexibility to fund growth. The merged entity may also gain higher visibility in investment indices like the ASX 200 and VanEck Junior Gold Miners.

What did Predictive Discovery management say?

Andrew Pardey, Chief Executive Officer and Managing Director of Predictive Discovery, said:

We are pleased to announce the Amended Robex Arrangement Agreement, which reflects our shared commitment to combine two of the largest, lowest cost and most advanced gold projects in West Africa. After announcing the Perseus acquisition proposal, we received clear written feedback from several of our largest shareholders indicating their support for the Robex merger over the Perseus acquisition proposal in its current form. In light of this feedback and considering the improved terms under the Amended Robex Arrangement Agreement, together with the greater medium to long-term value of the combined company for PDI shareholders and higher transaction execution certainty, the Board has concluded the amended transaction with Robex is in the best interests of the Company and our shareholders. We are excited to move forward with this transaction and look forward to working with Robex to build one of West Africa’s leading gold producers.

What’s next for Predictive Discovery?

Looking ahead, Predictive Discovery and Robex will work together to finalise the merger, with the Robex shareholder vote scheduled for 30 December 2025. Management see a clear path to creating one of the region’s leading gold producers, driven by shared expertise and greater combined financial resources.

Following completion, the new group aims to ramp up production, develop the Bankan Project using ongoing cash flow from Robex’s Kiniero Project, and unlock further upside from exploration and operational synergies across West Africa.

Predictive Discovery share price snapshot

Over the past 12 months, Predictive Discovery shares have risen 194%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Predictive Discovery updates market on amended Robex merger appeared first on The Motley Fool Australia.

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Shares in Marmota Ltd (ASX: MEU) are up nearly 50% after the company announced “spectacular” gold grades at its Greenewood project.

The company on Thursday reported the first assays from exploration at the Greenewood project in South Australia.

The company reported results including 33m at 10 grams per tonne of gold from a depth of 22m, and 94 grams per tonne of gold at a depth of 66m.

Exceptional drilling results

The company said in a statement to the ASX that the results were some of the best ever returned from exploration programs in South Australia.

As the company said in the statement to the ASX:

The drilling has clearly delineated a nearly-continuous high-grade mineralised system over 900m in strike. The mineralisation remains open along strike. The results feature multiple bonanza gold grades, close to surface, with excellent continuity along strike, and including exceptional thick high-grade intersections. The results are some of the best seen in the Gawler Craton since the discovery of the Challenger deposit in 1995.

The company said the detailed assay results took longer to receive from the laboratory than expected.

This is because the gold assays include results that are so high that they exceeded the upper limits of the laboratory standard fire-assay testing framework, and had to be re-assayed using alternative methodologies specially designed to robustly assay extremely high-grade gold samples.

The Greenewood project is about 35km northwest of Marmota’s flagship Aurora Tank gold deposit and 30km northeast of the Challenger gold mine.

The company said the proximity to Aurora Tank “creates obvious economies of scope and scale that are patently attractive”.

On that project, the company said:

Marmota’s Aurora Tank gold discovery features outstanding gold intersections including multiple bonanza gold grades close to surface, superb recoveries in metallurgical test work, with excellent potential for low-cost, low capex open pit heap leach gold production.  

More exploration underway

The company said stage two drilling was already underway, and was progressing well and ahead of schedule.

The goal, the company said, was to try to delineate the size of the potential deposit.

As a result of the maiden program, Greenewood has grown to an approximately 900m-long zone of near continuous mineralisation that was only subjected to a brief period of exploration by the previous owners. This was interrupted for non-geological reasons in 2018 — leaving an abundance of possibilities for increasing the dimensions of the mineralisation.

Marmota shares traded as high as 11.5 cents on Thursday morning before settling back to be 40.9% higher at 10 cents.

The company was valued at $83.3 million at the close of trade on Wednesday.

The post Bonanza gold grades have sent this junior explorer’s shares soaring 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.