Rox Resources Ltd (ASX: RXL) has made a final investment decision to proceed with its $383 million Youanmi gold project in Western Australia, following the recent locking in of funding for the new mine.

Approvals in place

The company said in a statement to the ASX on Tuesday that it had received a key approval from the Department of Mines, Petroleum and Exploration, which would allow it to break ground on key elements of the project.

The company said:

This key approval allows construction to commence for the new Processing Plant, Tailings Storage Facility, and Power Station/Solar Array, as well as the redesign of the existing West Main Waste Rock Dump (to become the new Run-of-Mine (ROM)). The MDCP approval, supported by $350 million credit commitments from the previously announced syndicate of banks and the $200 million placement plus $18 million share purchase plan, allowed the Board to approve the final investment decision for Youanmi. Rox and the Syndicate Banks are now working towards execution of finance documents and satisfaction of typical conditions precedent. Financial close and first debt draw down is expected in the September 2026 quarter.

Rox said it would now start bulk earthworks and issue contracts for the power station and oxygen plant, while most early works streams had already started, and the construction of the accommodation facilities was ongoing.

Rox Managing Director Phill Wilding said it was a major milestone for the company.

Following the commitment of debt funding and receipt of the MDCP, the Board of Rox has now made its Final Investment Decision, paving the way for construction of the Youanmi Gold Project to begin. The project is now fully funded through to production, and over coming months we will work towards financial close while ramping up on-site construction activity. This is a pivotal milestone for Rox Resources, allowing us to remain on schedule with our pathway towards production as we prepare for our first gold pour by mid-2027.

Shares looking cheap

The analyst team at Canaccord Genuity recently ran the ruler over the Youanmi project and its implications for the Rox share price, and they believe there is significant upside to be had.

Canaccord said it had updated its model based on the recent new debt announcement and had kept its price target for the ASX gold stock at $1.15, compared with 50 cents currently.

The Youanmi project is expected to produce an average of 117,000 ounces of gold per year over a seven-year mine life, with a payback period of 1.9 years.

The post This ASX gold company has pulled the trigger on a new mining project in Western Australia 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.

There are a lot of options for investors to choose from in the mining sector.

So, to narrow things down, let’s take a look at three that Morgans currently rates as buys. They are as follows:

Capstone Copper Corp (ASX: CSC)

This copper miner’s fourth quarter performance might have been a touch softer than expected, but Morgans remains positive due to its strong production growth outlook.

As a result, the broker has a buy rating and $16.00 price target on the ASX mining stock. It said:

Small 4Q25 EPS miss vs expectations but the near-long term reset in production targets (265kt vs 280kt near term, 375kt vs 400kt long term) was the driver of the -9% share price reaction, in our view. We trim our long-term production assumptions and target price to A$16ps (from A$16.60ps).

Even on a moderated growth profile, CSC still delivers ~60% production growth to CY30 from current CY26 forecasts and trades cheaply at 6x/4x CY26/CY27 EV/EBITDA, pricing in US$4.25/lb copper into perpetuity. Maintain BUY with a A$16ps target price (previously A$16.60ps).

Catalyst Metals Ltd (ASX: CYL)

Another ASX mining stock that gets the thumbs up from Morgans is gold miner Catalyst Metals.

It is expecting big things to commence in FY 2027 and is urging investors to buy its shares now before it’s too late. The broker has a buy rating and $15.24 price target on its shares.

1H26 result was broadly in line with expectations, with FY26 shaping as a foundation year ahead of a step-change in ounce growth from FY27 and beyond, underpinned by ~10 years of reserves. Key positive: Continued uplift in the price of gold has delivered a material uplift in revenue (+50% pcp) and underlying EBITDA (+92%) despite ounce production effectively being flat pcp.

Minerals 260 Ltd (ASX: MI6)

Finally, this gold developer could be an ASX mining stock to buy according to Morgans.

It likes the company due to its recent funding package and attractive valuation. The broker has a buy rating and $1.20 price target on its shares. It said:

MI6 has agreed to a A$220m funding package with Franco-Nevada Corporation (Franco) to accelerate the development of the 4.6Moz Au Bullabulling Gold Project. The A$220m funding package consists of an updated A$170m royalty agreement lifting the total royalty to 2.45% (previously 1%) and a A$50m private placement to Franco at a 7% premium to last close.

Based on our forecasts, the upfront royalty consideration implies a long-term gold price of ~A$7,500/oz Au. This is materially above consensus assumptions and suggests the funding has been secured on favourable implied terms for MI6. We maintain our BUY recommendation and lift our target price to A$1.20 (previously A$1.10).

The post Morgans names 3 ASX mining stocks to buy 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.

S&P/ASX 200 Index (ASX: XJO) share CAR Group Ltd (ASX: CAR) is slipping today.

Shares in the auto listings company closed yesterday trading for $24.21. In morning trade on Tuesday, shares are swapping hands for $24.04 apiece, down 0.4%, giving the company a market cap of some $9.1 billion.

For some context, the ASX 200 is up 0.4% at this same time.

It was only back on 18 August that CAR Group shares closed at an all-time high of $41.62.

Since then, the ASX 200 share has plunged 42.2%. Longer term, shares are down 27.8% over 12 months. Losses that will only be partially eased by the two partly franked dividends, totalling 84 cents a share, that the company paid out (or shortly will pay out) over the full year.

Car Group currently trades on a 3.5% partly franked trailing dividend yield.

A lot of the selling pressure hitting the stock in recent months has come amid the broader tech stock sell off. As you likely known, this has been fuelled by concerns that artificial intelligence, or AI, could replace a lot of the services companies like Car Group provide.

But Baker Young’s Toby Grimm has a decidedly different take on the future impact of AI on this particular company’s performance. And with the share price down sharply, he believes now is an opportune time to buy the stock (courtesy of The Bull).

Here’s why.

ASX 200 share tipped to rebound

“This online automotive marketplace operator posted stronger-than-expected first half results for 2026,” Grimm said.

“It grew revenue by 13% and reported EBITDA [earnings before interest, taxes, depreciation and amortisation] by 11%,” he noted.

The ASX 200 share closed up 9.9% on 9 February, the day it reported those H1 FY 2026 results. Atop the revenue and earnings growth, CAR Group achieved a 16% year on year increase in reported net profit after tax (NPAT) to $143 million.

As for investor concerns over the potential disruption posed by AI, Grimm said:

Recent sector-wide selling, driven largely by concerns around potential artificial intelligence (AI) disruption, has weighed on valuations. However, we believe CAR’s trusted brands, established distribution network and strong dealer relationships position it well to integrate AI tools into its services rather than be disrupted by them.

Over time, AI could enhance listing quality, pricing transparency and advertising effectiveness across its platforms.

Summing up his buy recommendation on the beaten down ASX 200 share, Grimm concluded:

Given the company’s strong market position, attractive margins and long runway for digital automotive marketplace growth across several geographies, we view recent price weakness as an opportunity to accumulate a high-quality technology-enabled marketplace at a more reasonable valuation.

The post Why this beaten down $9 billion ASX 200 share is now a buy 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 CAR Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Today is Rates Day.

We’ll find out if the RBA is going to raise the official cash rate to fight inflation, or leave it on hold, hoping that the expected spike is temporary, rather than becoming endemic.

Cue the forecasters, making their guesses.

Why?

Well, according to John Kenneth Galbraith – who was right – ‘Pundits forecast not because they know, but because they are asked’.

Now, some people have to make educated guesses – the RBA is one such institution that needs to make rates decisions based on how they see the future turning out.

They’ll be wrong in their specificity, but I suspect – I hope! – they already know that. I think their job is to be directionally right; adding support when the economy needs it and removing excess demand when the economy is running too hot.

I suspect they know that they have no idea exactly what rate will eventually be high enough, any more than we target a specific speed on our speedos when we come into a corner.

We don’t decide, ahead of time, to take an upcoming corner at 52km/h, or 43km/h, or 35km/h. We brake until it feels like we’ve slowed enough to take the corner safely, then accelerate when we feel it’s appropriate. I think that’s the best way to think about interest rates.

The forecasters?

Apparently the bond market reckons there’s a 72% chance of a rate increase today.

Apparently a Finder survey reckons 38% of economists surveyed think rates will rise.

That means there’ll be a lot of people who’ll be wrong at 2.30pm, Sydney time.

And, I hope it’s clear to you that it makes the whole guessing game just a little… silly?

What the RBA should do is a worthy discussion, largely because it lets us work through the inputs into such a decision, and also to understand the potential consequences of the different courses of action.

But what it will do? No-one knows, so the guessing thing is just a parlour game.

Don’t get me wrong – the outcomes are consequential for those paying a mortgage or a business loan… but that doesn’t mean those outcomes are knowable, in advance!

Humans want certainty, though. It’s why tarot readers exist, despite the clear nonsense of being able to ascertain the future (those tarot readers knew I was about to say that!). Ditto those in centuries past who ‘read’ animal entrails and other ‘omens’.

We just really want to know, and would rather suspend disbelief than accept uncertainty.

So, let me puncture that balloon for you. (Sorry, not sorry).

Here’s what we don’t, and can’t, know:

– What the RBA will do at 2.30pm today.

– What they’ll do when they meet again in May.

– Where interest rates will be next year… and in 2030.

– How fast the economy will grow this year.

– When the next recession will arrive (because it will).

– How long it’ll last, and how bad it’ll get before it’s over.

– How quickly AI will disrupt jobs, and the broader economy.

– How significantly it’ll do the same.

– What ‘next big thing’ will fizzle out, instead.

– Where the stock market will be by Christmas.

– What Donald Trump will say next.

– What Donald Trump will do next.

– Whether Donald Trump will see it through, or reverse course.

– What ‘black swans‘ are lurking just over the horizon.

– What predictions of doom just won’t come true.

– Which company will be the most valuable in 2030.

– … and 2035. And 2040

– Which startup founder, currently working in her garage, will be a billionaire

– Which company will be the next Kodak. Or Blockbuster.

– Which industry will change the world

– … and who wins from those changes (remember, airline travel boomed, but profits tanked).

Oh, we’d love to know those things. We just can’t. At least not with any certainty.

What, then, should we do?

Three Ps. Two ‘to do’, and one to ‘not do’.

Let’s start with the latter.

Don’t:

Predict.

Predictions invite us to think about specifics. The more specific you try to be, the greater the chance of being ‘precisely… wrong’.

Do:

Prepare.

There are a range of potential outcomes for each of the things I listed above. The solution is not to throw our hands up in the air and abandon ourselves to fate. It is to position ourselves, emotionally and financially, for that range of outcomes, so that we’re not wiped out by a bad roll of the dice and are positioned to gain from a good roll.

Think in Probabilities

I’m an investor. I buy shares in companies (and units in ETFs) that I think are likely to gain in value. I think that’s likely overall – human ingenuity isn’t done yet – so I expect the market to go up… on average and over time. And I think that understanding business and how to think about valuation means that I try to choose those investments that I think have the greatest potential to outperform… on average and over time.

Importantly, I know I’ll be wrong sometimes, because perfection only exists in frauds and Ponzi schemes.

Bottom line: I try to be roughly right, not precisely wrong.

What do I think?

I think the market is likely to be higher, probably meaningfully so, in a decade. How much? No idea. Exactly a decade? No. With a guarantee? Hell no. Just likely, because capitalism, harnessing innovation, tends to create value for society and that value tends to be reflected in share prices.

I think interest rates probably go higher from here, and perhaps for a while, given the RBA’s mandate on inflation, and the fact it seems stuck in the high 3% range and might go higher. When will rates go up? No idea. I could guess, but it’d be just that. If I was right, would I be clever or lucky? Ego says ‘clever’. Rational thought says ‘lucky’. But the RBA might take a different view. Inflation may fall more quickly than I suspect. So making a specific prediction on rates – what level, when, and for how long – is not that different from reading animal entrails.

I think AI is likely to be seriously disruptive. But it might not be. I think there’s a decent risk that the pace of adoption is faster than our ability to create new jobs to replace those that are lost. A certainty? No. The progress of AI could stall. Adoption could stall. The ability for companies to replace workers with AI might be overblown. But I do think individuals across a broad range of industries should prepare for the risk that they lose their jobs. Governments should prepare a range of scenarios, so that they’re ready, whatever the outcome. They – and we – should prepare, not predict.

We’ll have a recession at some point. I just don’t know when. It might be this year, if the oil price stays high, and crimps global economic activity. But the oil price might fall on Friday and be back at the level of three weeks ago by April. The recession might be prompted by some unknown or unexpected X Factor. Trying to predict it is a folly. Preparing for its inevitability is smart.

Speaking of falls, the market will fall at some point. Maybe by a lot. Maybe for a long time. The COVID fall was sharp and deep. But the recovery was swift. The GFC roiled markets for over 18 months. It was slow and grinding and brutal. The next one might look like COVID. Or the GFC. Or something else entirely. But two things:

One: Peter Lynch is credited with the observation that “far more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves”.

And two: The investor who adds to their portfolios, buying quality companies during these downturns often (almost always) ends up better off, having taken the opportunity to buy more at cheaper prices.

I think those things will continue to be true.

And I think predictions, borne of ego, will continue to be made – sometimes they’ll even be right. The irony? We can’t know which ones will be right in advance.

Which, as I’ve said, kinda makes the whole thing silly.

Instead? Don’t predict. Prepare. And think in probabilities.

Lastly… stay humble. As humans, our egos write cheques our abilities can’t cash.

Learning that might just be the beginning of economic and investing wisdom.

Fool on!

The post Rates Day! Cue the breathless predictions appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips 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.

If you are hunting for new investments, then read on.

That’s because Morgans has just given its verdict on three popular ASX 200 shares.

Are they buys, holds, or sells? Let’s find out what the broker is saying:

Collins Foods Ltd (ASX: CKF)

This KFC-focused quick service restaurant operator caught the eye of Morgans this month after announcing an attractive acquisition in Germany.

The broker believes the deal is sensible and could be the start of a re-rating for its shares. As a result, it has upgraded them to a buy rating with a $12.70 price target. It said:

CKF has announced what we see as a high-quality German KFC bolt-on at attractive economics. CKF is acquiring an eight-restaurant Bavarian portfolio at just under 6x restaurant-level EBITDA (pre-AASB 16) and expects the deal to be immediately EPS accretive. The Germany runway has been extended through the German Development Agreement (DA) to 45-90 new restaurants (from 40-70), materially extending the organic growth runway.

We believe this was a sensible, returns-focused deal that adds weight to the Germany growth story; execution is still key, but with a refreshed team and strong operators at the helm, success in Germany should be the catalyst for a re-rate despite lingering Netherlands noise. We upgrade to a BUY with a $12.70 target (was $12.40).

Liontown Ltd (ASX: LTR)

Lithium miner Liontown released its results last week and reported EBITDA and a loss that were ahead of expectations.

In addition, it was pleased to see that its balance sheet has been strengthened significantly.

As a result, it has upgraded Liontown shares to a hold rating with a $1.80 price target. It explains:

EBITDA and underlying NLAT beat MorgansF and consensus expectations, though earnings remain impacted by ramp-up costs. Kathleen Valley production continues to scale, the balance sheet has strengthened materially, and a brownfield expansion appears increasingly likely. We upgrade to a HOLD rating (from TRIM) with a A$1.80ps target price as we see the stock as trading at fair value.

Northern Star Resources Ltd (ASX: NST)

This gold miner disappointed Morgans with its second guidance downgrade of the financial year.

However, due to its attractive valuation, the broker has retained its buy rating on Northern Star’s shares with a reduced price target of $30.00. It said:

NST has downgraded gold sales for the second time in FY26 and the third time since FY25, withdrawing full year guidance entirely, although indicate sales may exceed 1,500koz Au. The frequency, persistence and severity of operational issues across both KCGM and Yandal are concerning.

We have downgraded our forecasts for KCGM (FY26, FY27) and Yandal (FY26 and beyond) until operations demonstrate a period of stability. We downgrade our price target for NST to A$30.00ps (previously A$35.00ps). Our BUY rating is maintained, we note valuation strength is derived from the long-term growth profile rather than near-term earnings.

The post Buy, hold, sell: Collins Foods, Liontown, and Northern Star shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Collins Foods. 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 Collins Foods. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

I’ve been busy in the ASX share market during this volatility. There’s one stock I’ve put $3,000 into. That business is none other than Washington H. Soul Pattinson and Co. Ltd (ASX: SOL).

Regular readers will know how much I admire this business. It’s an investment conglomerate that has been operating for 120 years.

It started out as a pharmacy company, but has since divested that a business which is now owned by Wesfarmers Ltd (ASX: WES). There’s a lot to like about Soul Patts right now, which is why I’m especially pleased that I invested at a lower price than it’s currently trading at.

Defensive and good cash flow

Soul Patts has deliberately built its portfolio to be defensive and focus on ones that can provide reliable cash flow through the economic cycle.

The business is invested in areas like telecommunications, swimming pools, agriculture, financial services, credit, electrification, resources, industrial property and plenty more.

By having a diversified portfolio, the business is exposed to a variety of opportunities and risks, but this also means its portfolio’s assets are largely uncorrelated to each other.

The sectors it’s invested in are good options for cash flow, which can help fund a growing dividend (a key attraction for me) and can also be put towards additional investments.

Recent investments include taking over Brickworks, agriculture and water entitlements, acquiring the rest of Ampcontrol (the electrification business), and reportedly investing in a fast-growing US coffee shop.  

The ASX share has energy investments

The ASX share market is seeing volatility amid the oil price pain, but there are a few businesses that are rising likely because of the market view of where energy prices could go.

Soul Patts is invested in the coal miner New Hope Corporation Ltd (ASX: NHC), which is capable of producing big dividends when the coal price increases. New Hope currently plays an important part in funding the Soul Patts dividend because the investment conglomerate is a large minority shareholder of New Hope.

The business is also invested in the Canadian-based uranium miner Nexgen Energy (ASX: NXG). This business could make very pleasing levels of cash flow once the project is fully operational, though that could take several years. It’s also possible that further uranium deposits could be identified and utilise the existing mine infrastructure.

Dividend yield

While the consistently growing dividend is the most appealing part of the passive income picture, I think the dividend yield is a solid starting point too.

My estimate for what annual dividend it will pay in FY26 puts the projected grossed-up dividend yield at 4%, including franking credits, at the time of writing.

Overall, I think the ASX share has an attractive future. That’s why I was happy to invest $3,000 at a slightly lower lower valuation than its trading at today.

The post Why I invested $3,000 into this great ASX share last week appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited and Wesfarmers. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Clarity Pharmaceuticals Ltd (ASX: CU6) shares are having a strong session on Monday.

In early trade, the ASX 300 stock jumped as much as 17% to $4.26 before pulling back.

At the time of writing, the clinical-stage radiopharmaceutical company’s shares are still up around 5%.

Why is this ASX 300 stock jumping?

Investors appear to be responding positively to an update from the company regarding new trial data for its prostate cancer imaging technology.

The company revealed that results from the Co-PSMA study were presented at the European Association of Urology (EAU) Annual Congress 2026 in London. The data has also been accepted for publication in the European Urology journal.

The trial evaluated Clarity’s diagnostic product, 64Cu-SAR-bisPSMA, in patients experiencing biochemical recurrence of prostate cancer after surgery.

Importantly, the study compared the ASX 300 stock’s imaging technology with a current standard-of-care PSMA PET scan.

The results showed that Clarity’s agent detected significantly more cancer lesions than the standard scan. Across the study participants, the new imaging approach identified 63 lesions compared with 24 detected using the standard-of-care method.

In addition, 78% of patients had a positive scan using 64Cu-SAR-bisPSMA compared with 36% using the existing imaging agent, highlighting a potential improvement in detecting recurrent prostate cancer.

The study also showed a higher true positive rate and lower false negative rate for the company’s imaging technology.

Why this matters

Detecting prostate cancer recurrence earlier and more accurately can significantly influence treatment decisions.

According to the trial data, the improved imaging results led to changes in planned patient management in 44% of participants, with many switching from surveillance to targeted radiotherapy.

These findings add to the growing body of evidence supporting the SAR-bisPSMA platform, which is designed as a targeted copper theranostic. This technology has the potential to be used both for cancer imaging and treatment depending on the isotope used.

Looking ahead, the company intends to combine results from this study with data from other trials, including the Phase II COBRA study and the Phase III AMPLIFY trial.

Together, these results are expected to support a future regulatory submission to the US Food and Drug Administration (FDA) for approval of 64Cu-SAR-bisPSMA in patients with recurrent prostate cancer.

The ASX 300 stock’s executive chair, Dr Alan Taylor, commented:

The extraordinary quality of the academic research is coupled with the feverish pace of commercialisation where our registrational Phase III trials, AMPLIFY and CLARIFY, are nearing completion. We have recently shared that AMPLIFY reached its target number of participants with rising or detectable PSA after initial definitive treatment at clinical sites across the US and Australia in just 9 months since imaging the first patient, and we look forward to collecting and analysing the final study data.

Combined with results from the Co-PSMA and COBRA trials, we believe it will constitute a compelling application for approval of 64Cu-SAR-bisPSMA by regulatory authorities for the BCR indication.

The post Why is this ASX 300 stock rocketing 17% 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 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 Challenger Ltd (ASX: CHF) share price is in focus today as the company announces a revised non-binding proposal to acquire Pepper Money Ltd (ASX: PPM) at a reduced offer of $2.25 per share.

What did Challenger report?

• Submitted a revised offer to acquire in joint venture with Pepper Group ANZ HoldCo Limited
• Revised offer price: $2.25 per Pepper Money share, down from $2.60 per share
• Offer price is reduced by the final fully franked Pepper Money 2025 dividend of 7.8 cents per share and any special dividend
• This offer is stated to be Challenger’s best and final, unless a superior proposal emerges
• The proposal remains confidential, non-binding, and conditional

What else do investors need to know?

Challenger advises that discussions with Pepper Money and Pepper Group ANZ HoldCo Limited are ongoing but incomplete at this stage. There is currently no certainty that the revised offer will result in a transaction.

The company emphasises that it will continue to keep the market informed in line with its continuous disclosure obligations. The decision to reduce the offer reflects ongoing negotiation dynamics and feedback from previous proposals.

What’s next for Challenger?

The market awaits further updates regarding Challenger’s proposal, as management has signalled this is the final offer unless a superior bid appears. Investors should watch for Pepper Money’s response and any changes in conditions.

Challenger continues to focus on its core strengths in investment management and annuities, while pursuing strategic opportunities that could enhance long-term value for shareholders.

Challenger share price snapshot

Over the past 12 months, Challenger shares have risen 42%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 9% over the same period.

View Original Announcement

The post Challenger revises Pepper Money bid to $2.25 in latest 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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Challenger. 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 West African Resources Ltd (ASX: WAF) is charging higher today.

West African Resources shares closed yesterday trading for $2.78. In early morning trade on Tuesday, shares are changing hands for $2.91 apiece, up 4.7%, giving the miner a market cap of some $3.3 billion.

For some context, the ASX 200 is up 0.5% at this same time on Tuesday.

Here’s what’s grabbing investor interest.

ASX 200 gold stock lifts off on 130% profit boost

Investors are bidding up the West African Resources share price following the release of the miner’s 2025 calendar year results.

Over the 12 months, the ASX 200 gold stock raked in $1.54 billion in revenue.

Gold production increased by 45.4% to 300,383 ounces, up from 206,622 ounces in 2024.

Costs were up too, with the miner reporting an all-in sustaining cost (AISC) of US$1,488 per ounce, up 20% from the US$1,240 AISC the prior year.

The year saw West African achieve gold sales of 280,065 ounces, with the miner receiving an average price of US$3,525 an ounce for the yellow metal.

With production and sales up, the ASX 200 gold stock saw its operating cash flow surge to $790 million, up 213.5% from $252 million in 2024.

Year end gold reserves fell to 6.2 million ounces, from 6.5 million ounces a year ago.

And on the bottom line, West African Resources revealed a net profit after tax (NPAT) of $567 million, up 130.5% from the 2024 NPAT of $246 million.

What did management say?

Commenting on the results helping lift the ASX 200 gold stock today, West African Resources CEO Richard Hyde said, “We finished 2025 in a strong financial position, with $584 million cash and net assets of $1.76 billion on our balance sheet.”

Hyde continued:

Sanbrado continued its solid performance in 2025, generating $1.1 billon of revenue from 205,517 ounces gold sold unhedged at an average realised price of $5,283 an ounce (US$3,407/oz). During its first five months of operational ramp-up, Kiaka generated $445 million of revenue from 74,548 ounces gold, sold unhedged at an average realised price of $5,971 an ounce (US$3,850/oz)…

WAF, as an unhedged gold producer is now incredibly well-positioned, particularly at the prevailing gold price levels, to significantly increase group profits and cash flows in 2026. We aim to maintain this for the next 10+ years from our two long-life major gold production centres of Sanbrado and Kiaka.

What’s next for the ASX 200 gold stock?

Looking ahead, Hyde said the company is well-placed for another uplift in revenue and operating cash flow in 2026. That growth should be driven by a full year of production from its gold production centres, Sanbrado and Kiaka.

“WAF’s strong production performance is expected to continue in 2026,” he said.

“We invested significantly in exploration drilling in 2025, and I look forward to releasing our updated Reserves, Resources, and 10-year production target by the end of Q1 2026,” Hyde concluded.

The post Why is this $3 billion ASX 200 gold stock leaping higher on Tuesday? 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 S&P/ASX 200 Index (ASX: XJO) share space is a great place to find passive income ideas that could be better picks than term deposits.

ASX blue-chip shares can be a bastion of reliability because of the essential nature of their products and services. I’m going to talk about two of the most important businesses for the Australian economy, and why I think they’re top buys today.

I’m expecting both of the below companies to continue growing their earnings and payout in the coming years.

Coles Group Ltd (ASX: COL)

Coles is Australia’s second largest supermarket business, while also operating a large liquor segment, which includes Liquorland.

The company has delivered significant revenue growth over the last several years and yet it has managed to continue delivering solid revenue growth.

In the FY26 half-year result, Coles reported total revenue growth of 2.5%, operating profit (EBIT) growth of 10.2% and underlying net profit growth of 12.5% to $676 million.

Additionally, in the first seven weeks of the third quarter of FY26, supermarket sales were up 3.7% (or 5.3% excluding tobacco).

Food is an incredibly important part of life and Coles is an essential provider of that, making its earnings very defensive, in my opinion.

The ASX 200 share’s margins could continue rising as it utilises its new advanced warehouses to being more efficient with its own inventory and sell more online to customers.

In the FY26 half-year result, it increased its half-year payout by more than 10% and it currently has a grossed-up dividend yield of 5.1%, including franking credits, at the time of writing. Its payout has increased every year since 2019.

Telstra Group Ltd (ASX: TLS)

Telstra is another ASX 200 share with impressive credentials that makes it more appealing than a term deposit.

The business has an incredibly important telco network that is used for all purposes like work, education, entertainment, communication, online shopping, online banking and more.

I think Telstra has very defensive earnings, which is being driven by both a rising average revenue per user (ARPU) as well as a growing number of users (with both Telstra subscribers and wholesale).

The business is working hard to stay ahead of competition by investing further in its 5G network and building fibre cables. This can help it grow earnings in the coming years, particularly if it continues with inflation-linked price increases for mobile customers.

Telstra has hiked its annual dividend per share each year since 2021, meaning it is building a pleasing record of passive income growth. In the FY26 half-year result, it grew its interim dividend per share by 10.5% to 10.5 cents. That translates into an annualised grossed-up dividend yield of 5.75%, including franking credits, at the time of writing.

I believe Telstra could be one of the most defensive businesses to own over the next few years.

The post Forget term deposits! I’d buy these two ASX 200 shares instead appeared first on The Motley Fool Australia.

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• 3 legendary ASX dividend shares worth a closer look
• Here are the top 10 ASX 200 shares today
• 3 ASX dividend shares I’d buy instead of Westpac
• How I’d start building an ASX retirement portfolio today

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.