The S&P/ASX 200 Index (ASX: XJO) is out of form on Monday. In afternoon trade, the benchmark index is down 0.5% to 8,573.9 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is down 9% to $7.00. Investors have been selling this gold miner’s shares following a pullback in the gold price. Traders have been selling gold amid concerns that sky-high oil prices could lead to higher inflation and force central banks to hike interest rates. It isn’t just Regis Resources shares that are falling today. The S&P/ASX All Ordinaries Gold index is down 4.2% at the time of writing.

Strike Energy Ltd (ASX: STX)

The Strike Energy share price is down 3% to 10.7 cents. This morning, the energy company advised that the Western Australian Economic Regulation Authority (ERA) has finalised its Determination for the Benchmark Reserve Capacity Price (BRCP) for the 2028/29 Capacity Year at $488,500 per MW per annum. While this is a 35% increase on the 2027/28 benchmark of $360,700 per MW per year, it seems that some investors were expecting an even larger increase.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is down 3% to $10.96. This is despite the radiopharmaceuticals company revealing that it was optimistic that the resubmission of a new drug application (NDA) for its brain cancer imaging candidate TLX101-Px would be approved by the U.S. Food and Drug Administration (FDA). Telix’s chief medical officer, Dr David N. Cade, said: “We appreciate the FDA’s recognition of the critical unmet need to improve the diagnosis and management of glioma, particularly in the posttreatment setting. Our resubmission is supported by an extensive and compelling data set – particularly so for an orphan indication. We are grateful to our global clinical collaborators, who share our commitment to ensuring patients in the U.S. can benefit from this important patient management tool.”

Virgin Australia Holdings Ltd (ASX: VGN)

The Virgin Australia share price is down 2.5% to $2.66. This may have been driven by concerns that rising oil prices could weigh on the profitability of the airline. Virgin Australia has also been struggling with its flights through to the Middle East with Qatar Airways experiencing consistent cancellations. The company’s shares are now down almost 20% since this time last month.

The post Why Regis Resources, Strike Energy, Telix, and Virgin Australia shares are falling today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Looking for ASX shares to buy after recent market weakness?

Well, if you are, let’s see what analysts are saying about the popular shares in this article, courtesy of The Bull.

Are they buys, holds, or sells? Let’s find out:

Brainchip Holdings Ltd (ASX: BRN)

The team at Peak Asset Management has named this struggling semiconductor company as a sell this week.

It highlights that the small cap is battling against AI giants like Nvidia (NASDAQ: NVDA) in an intensively competitive sector. It said:

BrainChip is a commercial producer of neuromorphic artificial intelligence (AI). The company operates across Australia, the US and Europe and had a market capitalisation of about $A349.17 million during trading on March 12. The broader AI hardware landscape is increasingly dominated by big players, such as Nvidia.

The AI sector is intensively competitive. The company substantially lifted revenue in full year 2025, but reported a loss from continuing operations after tax. The shares have fallen from 24.5 cents on October 9, 2025 to trade at 14 cents on March 12. Other stocks appeal more at this stage of the cycle.

CAR Group Limited (ASX: CAR)

Over at Baker Young, its analysts are positive on this auto listings company.

It highlights that its shares have fallen heavily recently amid AI disruption concerns. However, the broker believes this has created a buying opportunity and has named it as a buy this week. It said:

This online automotive marketplace operator posted stronger-than-expected first half results for 2026. It grew revenue by 13 per cent and reported EBITDA by 11 per cent. 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. 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.

Endeavour Group Ltd (ASX: EDV)

Finally, Baker Young has been looking at drinks giant Endeavour. It felt that the Dan Murphy’s owner delivered a solid half-year result last month.

However, it isn’t enough for a buy rating just yet. The broker has put a hold rating on its shares instead. It said:

The drinks and hotels operator delivered solid first half results for fiscal year 2026. Hotel sales increased by 4.4 per cent and total retail sales increased by 0.2 per cent. Hotel sales growth in the first seven weeks of the second half of fiscal year 2026 was up 4.5 per cent followed by 1.3 per cent for retail sales.

The company is investing heavily in price competition to support volumes, which will likely pressure margins in the near term. While it may be too early to call a full recovery, we believe risks are broadly balanced and we’re comfortable maintaining our position ahead of the strategic update.

The post Buy, hold, sell: Brainchip, CAR Group, and Endeavour shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Nvidia. The Motley Fool Australia has recommended CAR Group Ltd and Nvidia. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Forrestania Resources Ltd (ASX: FRS) are moving lower on Monday following an update from the Western Australian explorer.

At the time of writing, the Forrestania share price is down 5.66% to 50 cents.

Despite today’s pullback, the ASX gold stock has still delivered a strong run recently and is up about 66% since the start of 2026.

Let’s take a closer look at what was announced to the market.

Forrestania completes Jaudri Hills acquisition

According to the release, Forrestania has completed the acquisition of the Jaudri Hills gold project in Western Australia.

The transaction involved acquiring 100% of the fully paid ordinary shares of Australian Live Stock and Martin Mining Developments. It also included interests in Diggers & Dealers Mining.

Together, these companies hold gold exploration tenements near Jaudri Hills in the Coolgardie region.

The acquisition follows the binding heads of agreement announced to the ASX in November 2025. The company confirmed that all conditions precedent have now been satisfied, meaning the deal has formally completed.

Management said the project includes multiple granted mining licences, which expand Forrestania’s presence in a well-known gold-producing district.

Close to existing processing infrastructure

One of the key features of the Jaudri Hills project is its location.

Forrestania said the tenements are within economic distance of existing gold processing infrastructure. This would support future development if a discovery is made.

However, the company noted that any processing plans would depend on defining a JORC-compliant gold resource and receiving the required approvals.

Chairman David Geraghty said the acquisition is another step in the company’s plan to build a pipeline of gold projects.

Geraghty said the deal increases Forrestania’s presence in the Coolgardie district, an area that already hosts several established gold mines.

He also noted that the low-cost and performance-linked structure allows the company to focus its spending on advancing exploration work.

Expanding its Western Australian gold footprint

The Jaudri Hills tenements are located within the Coolgardie Gold Hub, an area that has historically produced significant gold.

Forrestania said the acquisition strengthens its broader project pipeline across Western Australia’s Eastern Goldfields region.

The company is currently focused on advancing exploration across several gold corridors, including projects around Southern Cross, Forrestania, and Coolgardie.

Management said the goal is to define significant gold resources that could support long-term development opportunities.

Forrestania is also progressing plans linked to the Lake Johnston processing facility, which it fully owns. The company has previously indicated that it aims to move toward gold production by late 2025 through this facility.

What’s happening with the share price?

Despite today’s pullback, Forrestania shares have been one of the stronger performers among small-cap gold explorers this year.

The company now has a market capitalisation of roughly $510 million and more than 1 billion shares on issue.

Over the past 12 months, the Forrestania share price has surged more than 1,700%, reflecting strong investor interest in the company.

The post This ASX gold stock just made a big move in WA. Here’s what happened appeared first on The Motley Fool Australia.

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• Why Regis Resources, Strike Energy, Telix, and Virgin Australia shares are falling today
• Buy, hold, sell: Brainchip, CAR Group, and Endeavour shares
• This ASX biotech company has piled on more than 25% after a big announcement
• This ASX copper company’s shares are defying a weak market after good project news
• Why Lifestyle Communities, Perpetual, Reliance Worldwide, and Woodside shares are rising today

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.

Shares in Tetratherix Ltd (ASX: TTX) have surged more than 25% in early trade after the company announced a deal which could earn it more than US$30 million over the next 10 years.

The drug development company said in a statement to the ASX that it had struck a deal with fellow Australian company Superpower around its “platform polymer”.

Strong revenue flow

Under the deal, Superpower will pay Tetratherix US$3 million per year for up to 10 years and will also purchase Tetratherix’s platform polymer branded as STEPP for the nasal delivery of “longevity and metabolic compounds such as GLP-1, peptides and hormones in the US market”.

Tetratherix said STEPP had been in “stealth development” for more than five years and is able to be used for the delivery of a range of compounds.

Tetratherix Chief Technology Officer Ali Fathi said:

Our precision medicine franchise is the culmination of more than 5 years of relentless, focused R&D in drug delivery – a journey driven by the conviction that science is only as powerful as its accessibility. I want to thank our research partners who have been instrumental in the development of this once in a generation, enabling technology which will lead to impact beyond our comprehension of what is possible in the way healthcare is delivered. We are now poised to transform the lives of millions across the globe, initially within the high impact landscapes of GLP-1s and peptide therapies with Superpower. Beyond the molecules themselves, this alliance will grant us early, scaled access to real world evidence allowing us to bridge the gap between clinical potential and actual patient outcomes in record time.

Tetratherix said STEPP was a nasal delivery compound that forms a “sticky cushion” once inhaled into the nose, and ensures that the drug being delivered remains in place and is not washed away.

The company added:

Beyond just staying put on the nasal lining, STEPP acts as a protective bubble wrap for the compounds themselves. Delicate compounds like GLP-1s and peptides are easily broken down by the body’s natural enzymes before they can even start working. STEPP wraps these fragile molecules in a defensive layer, shielding them from being destroyed.

Tetratherix Chief Executive Will Knox said the deal was a “masterstroke in speed and strategic alignment and we couldn’t be more excited about working with Superpower”.

Shares in the ASX biotech were 27.6% higher at midday at $5.31.

The company was valued at $113 million at the close of trade on Friday.

The post This asx biotech company has piled on more than 25% after a big announcement 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.

Carnaby Resources Ltd (ASX: CNB) shares are defying weakness in the resource sector, trading higher after the company released a prefeasibility study for its Greater Duchess copper and gold project in Queensland.

While the share prices of major gold companies such as Bellevue Gold Ltd (ASX: BGL), Regis Resources Ltd (ASX: RRL), and Capstone Copper Corp (ASX: CSC) are lower in mid-morning trade, Carnaby shares are 4.8% higher at 43.5 cents.

Low-cost capex

Carnaby released both a pre-feasibility study (PFS) and a maiden ore reserve for Greater Duchess, with the PFS stating that it would only cost $11 million to bring the project into production.

Greater Duchess was expected to produce for 12 years, with a six-year open-pit operation followed by a transition to underground mining.

The project is expected to have a payback period of 13 months under the company’s base metal price assumptions, improving to 11 months if spot prices for copper and gold are used.

The maiden ore reserve indicates that the mine has 8.4 million tonnes of ore at a copper equivalent grade of 1.7%.

Forging ahead with next steps

The company has now started its feasibility study, which it expects to finish in the second quarter of calendar year 2026, with a final investment decision targeted by June 30.

This is expected to be followed by first production in the second half of calendar year 2026.

Carnaby Managing Director Rob Watkins said:

The release of the Greater Duchess PFS is a major milestone for Carnaby and its shareholders and is the culmination of extensive work completed by the Carnaby team and independent consultants over the course of the last year. The PFS results highlight an extremely robust new mine development project located close to existing world class infrastructure and processing facilities in the Mount Isa region. The Greater Duchess Copper Gold project has a clear pathway to a low pre-production capex ($11M) near term mining operation (target first production H2 CY26) that will capitalise on record copper and gold prices.

The mining project is expected to deliver EBITDA of $983 million, or $1.27 billion at spot prices.

The company added that there was the potential for further expansion of the mineral resource.

All deposits remain open at depth and the exploration upside in the Greater Duchess mine camp has clearly demonstrated potential to deliver additional production target tonnes in the future. This is particularly evident at Trek 1 and Trek 2 where recent outstanding exploration results have been recently reported.

The project will have an all-in sustaining cost of production of $9583 per tonne of copper, compared with the assumption used in the PFS of $16,500 per tonne.

Carnaby Resources was valued at $115 million at the close of trade on Friday.

The post This ASX copper company’s shares are defying a weak market after good project news appeared first on The Motley Fool Australia.

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• Rare earth stocks are tumbling today. Here’s why the Lynas share price is holding up

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) has followed Wall Street’s lead and is trading lower on Monday. In afternoon trade, the benchmark index is down 0.3% to 8,590.3 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Lifestyle Communities Ltd (ASX: LIC)

The Lifestyle Communities share price is up 2% to $5.43. This appears to have been driven by a broker note out of Citi. According to the note, the broker has upgraded the retirement communities company’s shares to a buy rating with a $5.60 price target. The broker notes that Hometown Australia recently bought a 9.8% stake in the company. It highlights that the $58.46 million deal was undertaken at a premium to the prevailing share price. Citi suspects that this could lead to increased M&A speculation.

Perpetual Ltd (ASX: PPT)

The Perpetual share price is up almost 2.5% to $16.61. Investors have been bidding the financial services company’s shares higher after it announced the sale of its Wealth Management business to Bain Capital for an upfront consideration of $500 million. Perpetual’s CEO and managing director, Bernard Reilly, said: “Following a thorough sale process, we believe we have achieved the right outcome for our shareholders, clients and people, and one that reflects Wealth Management’s longstanding reputation as a premium provider of high net worth advisory, fiduciary, philanthropic and not-for-profit offerings in the Australian market.” Perpetual expects to use sale proceeds to pay down debt and fund further growth in its core Asset Management and Corporate Trust businesses.

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance Worldwide share price is up 4.5% to $3.05. This morning, this plumbing parts company announced that it will undertake a further on-market share buy-back targeting $120 million. The company’s chair, Russell Chenu, said: “RWC has continued to generate strong cash flows over the past two years despite subdued end markets. This has enabled us to substantially reduce net debt. Consequently, RWC’s leverage ratio has fallen below the bottom end of our target range of 1.5 time to 2.5 times net debt to EBITDA. Undertaking this additional share buy-back will enable us to return excess capital to shareholders efficiently and is consistent with our previously articulated capital management strategy.”

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is up over 2% to $31.77. This has been driven by a rise in oil prices due to supply disruptions caused by war in the Middle East. It isn’t just Woodside that is rising today. The S&P/ASX 200 Energy index is up almost 1% at the time of writing.

The post Why Lifestyle Communities, Perpetual, Reliance Worldwide, and Woodside shares are rising today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group Ltd. 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 Pantoro Gold Ltd (ASX: PNR) share price is trading lower on Monday after the company released an exploration update to the market.

At the time of writing, the gold producer’s shares are down 3.32% to $3.345. The stock has had a difficult run this year and is now down roughly 32% since the start of 2026.

Here’s what the company announced.

New drilling results from Norseman project

Pantoro reported new drilling results from the Butterfly area of the Mainfield at its Norseman Gold Project in Western Australia.

The company said drilling from the Bullen Decline is continuing across several zones, including the Butterfly area of the Mararoa Reef. The Mararoa Reef has historically produced an estimated 1.4 million ounces of gold.

According to the update, several high-grade intersections have been returned from the latest drilling program. These include:

• 1.5 metres at 81.23 grams per tonne (g/t) gold, including 0.5 metres at 223.65 g/t

• 1.7 metres at 34.35 g/t gold, including 0.36 metres at 143.02 g/t

• 1.1 metres at 26.88 g/t gold, including 0.72 metres at 40.35 g/t

• 0.54 metres at 58.76 g/t gold

• 0.6 metres at 58.96 g/t gold, including 0.3 metres at 103.75 g/t

• 0.4 metres at 12.08 g/t gold

Pantoro said the drilling is aimed at finding additional gold where mineralisation continues along the reef and deeper underground.

Potential pathway to future mining

The company also highlighted that mineralisation lies only about 70 metres east of the recently developed Butterfly exploration decline.

This proximity could make the area easier to access for potential mining if further drilling continues to deliver strong results.

Pantoro said known mineralisation at Butterfly extends about 1.5 kilometres south. It also remains open at depth, meaning further discoveries could be made as drilling continues.

Managing Director Paul Cmrlec said the results continue to demonstrate the exploration upside across the Mainfield area.

He said the Mararoa Reef had already been heavily mined in the upper levels historically, and the current drilling is targeting previously unmined extensions.

Cmrlec also noted that the Butterfly zone is separate from the O’Brien’s and Crown South areas that the company recently identified as its next underground production centre at Norseman.

About the Norseman gold project

Pantoro is focused on developing the Norseman Gold Project in Western Australia’s Eastern Goldfields region.

The company currently produces gold at Norseman and operates a processing plant with the capacity to treat around 1.2 million tonnes of ore each year.

Pantoro reports a total mineral resource of approximately 6.6 million ounces of gold across the broader Norseman project area.

The company is continuing a large drilling campaign across the district. It plans to drill around 250,000 metres during FY2026 to expand resources and support future production growth.

The post This ASX gold stock just dropped 32% in 2026. Here’s what it revealed today 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 Bitcoin (CRYPTO: BTC) price currently stands at US$72,518.

That sees the world’s first and biggest crypto up 9.6% over the past week. A week that sees the S&P/ASX 200 Index (ASX: XJO) down 1.1%.

As for the token’s performance following the United States and Israel’s airstrikes on Iran on 28 February and the ensuing broader Middle East conflict, Bitcoin’s price is up around 10.5%. Bitcoin was trading for around US$65,600 before news of the attack broke.

Interestingly, the gold price has gone the other direction. Gold is currently trading for US$5,023 per ounce, down around 5% since the outbreak of the fighting.

Still, the gold price is up more than 67% over 12 months, while Bitcoin has tumbled around 14% over this time.

And despite the past week’s rebound, the world’s top crypto by market cap remains down more than 42% from its 7 October all-time high of US$126,199.

What the experts are saying about the Bitcoin price amid the Iran conflict

With the Bitcoin price up some 10% since the initial missile attack on Iran, a number of analysts say the digital token is beginning to live up to its haven promise.

According to Alex Kuptsikevich, chief market analyst at FxPro (quoted by Bloomberg):

It appears that Bitcoin is beginning to attract attention as a safe-haven asset, rising amid volatility in financial markets. The bulls are clearly trying to stir up the market to trigger a new short squeeze during the weekend, a period of reduced volatility.

Cici Lu McCalman, principal consultant and founder of Venn Link Partners, added:

Bitcoin has shown notable resilience, rebounding above $70,000 after briefly dipping below $63,000 during the initial risk unwind on Iran war. While the recovery is encouraging, price action still looks more like stabilisation than a full confidence to risk-on positioning.

As for further potential increases in the Bitcoin price, crypto investors may need to see some calm return to global energy markets and the broader geopolitical outlook.

“The macro backdrop remains unsettled, with oil volatility and lingering geopolitical uncertainty keeping risk sentiment cautious in the short term,” Rachael Lucas, an analyst at BTC Markets, said.

How about Ethereum?

Like the Bitcoin price, the Ethereum (CRYPTO: ETH) price has outperformed gold and global equities since the outset of the Iran conflict.

On 28 February, Ethereum was trading for US$1,950. Today, the world’s number two token is fetching US$2,171, up more than 11% since the fighting began.

But the Ethereum price remains down more than 56% since notching its own all-time high of US$4,954 on 25 August.

The post Why is the Bitcoin price outperforming amid the Middle East conflict? 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 positions in and has recommended Bitcoin and Ethereum. The Motley Fool Australia has positions in and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

On a day when the S&P/ASX All Ordinaries Index (ASX: XAO) is trading lower (down 0.6% at the time of writing), ASX rare earth stocks are particularly under pressure today.

At the time of writing, shares in Iluka Resources Ltd (ASX: ILU) are down around 4%, while shares in Arafura Rare Earths Ltd (ASX: ARU) have fallen 7%, but the Lynas Rare Earths Ltd (ASX: LYC) share price is holding up far better than its major peers.

At the time of writing, Lynas shares are trading marginally higher following a market announcement this morning.

Why are Lynas shares holding up?

The relative strength reflects an announcement released by the company earlier today.

Lynas announced a US$96 million rare earth supply framework with the United States Department of War, which included a floor price of US$110/kg for the supply of NdPr oxide.

NdPr oxide is a critical rare earth compound of Neodymium and Praseodymium. It’s a critical resource in the production of various electronic devices ranging from smartphones to fighter jets (the latter being of more interest to the US Department of War).  

The floor price gives Lynas some downside protection in the event that prices for NdPr dip below US$110/kg, although current prices are above that point.

The move is a further step by the US and other Western governments to secure critical supply chains of rare earths minerals, and Lynas, one of the largest rare earths producers outside China, appears to be well-positioned.

Foolish bottom line

Lynas has already been one of the best-performing resources stocks on the ASX over the past year, with its share price surging more than 170% in the last 12 months.

After such a strong run, some volatility across the sector isn’t surprising, but today’s trading suggests that positive strategic news can still help Lynas outperform its peers, even when the broader rare earths sector is under pressure.

The post Rare earth stocks are tumbling today. Here’s why the Lynas share price is holding up appeared first on The Motley Fool Australia.

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Motley Fool contributor Kevin Gandiya has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Lynas Rare Earths Ltd. 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.

ASX energy share Elixir Energy Ltd (ASX: EXR) is off to the races today.

Elixir Energy shares closed on Friday trading for 8.4 cents. In morning trade on Monday, shares are changing hands for 9.8 cents apiece, up 16.7%.

For some context, the S&P/ASX Small Ordinaries Index (ASX: XSO) is down 1.5% at this same time.

And this outperformance is par for the course for Elixir shares this past year.

With today’s intraday gains factored, the ASX energy shares is up an eye watering 263% over 12 months. That’s enough to turn a $5,000 investment into $18,148. In one year.

Now, here’s what’s piquing investor interest again today.

ASX energy share surges on gas prospects

The Elixir Energy share price is surging today following the release of the final drilling results from the company’s Lorelle-3H appraisal well, located in Queensland’s Taroom Trough.

The ASX energy share has now completed the drilling, casing, and cementing of the Lorelle-3H well, achieving a total depth of 4,477 metres. That includes a 1,157-metre lateral section within the primary objective of the Tinowon ‘Dunk’ Sandstone.

Management noted this makes Lorelle-3H the longest lateral drilled well in the Taroom Trough.

And Elixir looks to be catching investor interest, with the company reporting it has measured 1,033 metres of high-quality net gas-condensate pay within the Tinowon ‘Dunk’ Sandstone. That net gas-condensate bearing section has an average porosity of 11.2% and a maximum porosity of 18%. This was said to “far exceed” measurements from the initial pilot hole.

The Lorelle-3H well has been suspended for a multi-stage stimulation and production test in the second quarter of 2026.

What did management say?

Commenting on the results sending the ASX energy share surging today, Elixir Energy CEO Stuart Nicholls said, “The Lorelle-3 appraisal campaign has delivered an exceptional result for the company.”

Nicholls added:

Initially, the pilot hole confirmed the northern extension of the key Permian reservoirs proven within Shell’s acreage and identified significant upside within the Lorelle Sandstone yet seen elsewhere in the basin.

The company then also drilled the longest lateral section to date, all within some of the highest-quality Tinowon Dunk Sandstone reservoir seen in the basin, completing a combined 5,691 metres of drilling and appraisal operations across the pilot hole and lateral well in just 46 days, a major operational achievement for a company of Elixir’s size.

Nicholls said the upcoming production test for the Lorelle 3H well could deliver results that “may underpin Elixir’s move towards its maiden Reserves booking in the Taroom Trough and the next phase of basin development”.

The post How is this ASX energy share leaping 17% in Monday’s sinking market? 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.