Electro Optic Systems Holdings Ltd (ASX: EOS) shares are having a tough session on Thursday.

In early trade, the defence and space technology company’s shares are down a sizeable 10% to $9.65.

This compares to a 1.2% decline by the ASX 200 index this morning.

Why are EOS shares crashing today?

The catalyst for today’s sizeable decline has been the release of an announcement before the market open relating to an Australian Securities Exchange (ASX) review of its continuous disclosure practices.

According to the release, the ASX has formed the view that a previous announcement by EOS on 15 December 2025 regarding a conditional US$80 million high-energy laser contract failed to adequately describe market sensitive information.

The contract relates to a counterparty named Goldrone. EOS advised that the counterparty was not identified in the original announcement at Goldrone’s request.

As we covered here last month, US-based short seller Grizzly Research had major issues with this contract announcement. It said:

A closer look at Goldrone makes us believe that the contract announcement is intentionally misleading and utterly unrealistic. Goldrone is a tiny agricultural drone company that seems to lack the resources to buy US$80 million worth of products and services from EOS. Our research into Goldrone shows that: Revenue peaked at US$476,000 in 2018 while incurring a US$400,000 net loss.

In response, EOS acknowledged that Goldrone “is a legal entity with modest financial capacity” but believed that key personnel “potentially [have] strong capability to secure market access and sales contracts with government customers in Korea.”

Not sufficient

Today, explaining why it was not named in the original announcement, management said that, as an entity operating in the defence and security industry, there are circumstances where ASX may accept that a counterparty to a material contract is not named, provided there is a sufficiently detailed description to allow the market to assess the counterparty’s standing and creditworthiness.

EOS stated that it sought to address this expectation in the December announcement by noting that completion of the contract was subject to conditions. These included the payment of an initial US$18 million deposit and the customer procuring a letter of credit for the remaining value of the contract.

However, the ASX has advised the company that it considers the information in that announcement was not sufficiently detailed to meet its expectations under Listing Rule 3.1.

In response to these concerns, ASX directed EOS under Listing Rule 18.8(k) to review its continuous disclosure policy governing compliance with Listing Rule 3.1.

EOS said it has acted promptly and, with the assistance of an external law firm, has completed this review. The company’s updated continuous disclosure policy has now been published on its website.

Despite today’s sharp pullback, it is worth noting that EOS shares remain up by approximately 750% since this time last year.

The post Why are EOS shares crashing 10% 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 Electro Optic Systems. 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.

Metallium Ltd (ASX: MTM) has this week announced major progress at its Gator Point Technology Campus, where it is proving up its technology which extracts critical minerals from e-waste.

The update has caught the eye of the analyst team at Canaccord Genuity, which has a very bullish share price target on Metallium shares, which we’ll get to later.

Firstly, let’s look at what Metallium announced.

Technology advancing well

The company is in the process of commercialising its proprietary “flash joule heating” technology, which allows it to extract the metals from e-waste such as printed circuit boards (PCBs).

Metallium said it had made good progress at Gator Point, and went on to say:

Since acquiring the site less than twelve months ago, Metallium has undertaken substantial site rehabilitation, infrastructure upgrades and installation of processing equipment, transforming the facility into the company’s primary U.S. technology demonstration and early commercial processing hub. Commissioning activities are now progressing across the integrated flowsheet as the Company advances the industrial scale-up of Flash Joule Heating technology. The development of Gator Point positions Metallium within the emerging U.S. domestic supply chain for critical metals, where there is currently limited capability to process complex electronic waste streams into refined metals. This represents a significant opportunity for new industrial processing platforms capable of recovering critical metals from PCBs.

Managing Director Michal Walshe said the next major milestone for the company would be operating three FJH reactors in parallel.

He added:

This milestone will validate the scalability of the technology and represents an important step toward our Stage-1 commercial configuration targeting approximately 8,000 tonnes of PCB feedstock per year.

The company said PCBs represented one of the highest grade “urban metal” resources available, containing significant concentrations of precious and base metals, typically at grades better than mined ores.

Metallium is targeting feedstocks that contain several thousand dollars per tonne of metal, or a gold equivalent of an ore containing 200 grams per tonne.

Once stage one is operating, the company is aiming to double capacity to 16,000 tonnes per annum.

Shares looking cheap

The team at Canaccord Genuity said the company’s wet commissioning of the first FJH line was a major de-risking of the technology, and noted that Metallium is fully funded through to the end of stage two works.

They estimate that once stage two is operating, scheduled for late 2027, Metallium could produce 90,000 ounces per year of gold equivalent, generating $330 million in EBITDA.

Canaccord Genuity has a price target of $1.60 on Metallium shares, compared with just 72 cents currently.

Metallium was valued at $530.5 million at the close of trade on Wednesday.

The post This innovative ASX metals company could deliver more than 100% upside: broker appeared first on The Motley Fool Australia.

More reading

• Why are EOS shares crashing 10% today?
• Up 22% yesterday, Ora Banda shares leaping higher again today on ‘outstanding’ gold results
• Westgold Resources secures $600m syndicated facility in balance sheet boost
• Buy this ASX 200 stock for an 11% dividend yield in 2026 and 2027: Morgans
• Whitehaven Coal earns credit ratings boost, paving way for refinancing

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.

Ora Banda Mining Ltd (ASX: OBM) shares are charging higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $1.415. In morning trade on Thursday, shares are changing hands for $1.480 apiece, up 4.6%.

For some context, the ASX 200 is down 1% at this same time.

This outperformance follows the release of a fresh batch of promising drilling results at the miner’s Western Australian holdings.

And it comes after Ora Banda shares closed up a blistering 21.5% yesterday.

Investors piled into the stock on Wednesday after the company reported a 964% Mineral Resource increase at its Round Dam gold deposit to 25.6Mt at 1.6g/t [25.6 million tonnes at 1.6 grams of gold per tonne] for 1.330 million ounces.

Now, here’s what’s catching investor interest today.

Ora Banda shares jump on drill results

This morning, the ASX 200 gold stock reported further exploration success at its high-grade Little Gem Prospect, located some 30 kilometres from Round Dam.

Ora Banda shares are charging higher after the miner revealed that the latest drilling has expanded the Little Gem Prospect’s mineralised envelope to more than 1,500 metres of strike and 750 metres vertically below surface. And mineralisation is open in all directions

The miner said it is expanding its exploration window for further drilling and potential mineralisation following the recent discovery of the Sapphire Trend, just 200 metres east of Little Gem. Management said Sapphire presents a new potential lode system.

Ora Banda is aiming for a maiden Mineral Resource Estimate for Little Gem in the second half of calendar year 2026. Drilling remains ongoing.

Among the top drill results from the Little Gem Trend, the miner reported 10.0 metres at 6.9 g/t, including 2.0 metres at 26.9 g/t from one hole; and 6.0 metres at 11.3 g/t, including 1.0 metres at 60.0 g/t from another hole.

What did management say?

Commenting on the results helping lift Ora Banda shares today, managing director Luke Creagh said:

These outstanding drill results continue to confirm the scale and quality of the Little Gem system with recent gains from exploration step-outs at the Sapphire Trend and Sunraysia Prospect demonstrating the outstanding potential of this area.

The work we’ve been doing is a reminder of the enormous organic growth potential of our ground, and as part of this, we very much look forward to delivering a maiden Mineral Resource Estimate for Little Gem in the second half of CY26.

With today’s intraday moves factored in, the Ora Banda share price is up 54% since this time last year.

The post Up 22% yesterday, Ora Banda shares leaping higher again today on ‘outstanding’ gold results appeared first on The Motley Fool Australia.

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• Why Brazilian Rare Earths, Lynas, Macquarie Technology, and Ora Banda shares are pushing higher today
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• If gold is a safe haven, why are ASX 200 gold stocks like Northern Star and Evolution Mining getting smashed this week?
• Why are ASX 200 gold stocks like Evolution Mining and Northern Star shares going gangbusters on Tuesday?

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 Westgold Resources Ltd (ASX: WGX) share price is in focus as the company announces the establishment of $600 million in new unsecured syndicated revolving credit facilities, significantly boosting its available liquidity and financial flexibility.

What did Westgold Resources report?

• Secured $600 million in new unsecured syndicated revolving credit facilities
• Facilities provided by a syndicate of five Australian and international lenders
• Three facility tranches maturing in 2029 ($300M), 2030 ($200M), and 2031 ($100M)
• No mandatory hedging, amortisation, or cash sweep requirements
• Replaces previous facilities to support general corporate purposes

What else do investors need to know?

The new facilities increase Westgold’s available liquidity to over $1.2 billion, supported by an existing treasury position of $600 million as at 31 December 2025. The flexible structure of the arrangement ensures the company has ready access to funds for investment and growth, with no immediate need for additional capital.

The five-member lender syndicate includes major institutions: CBA, OCBC, RBC Capital Markets, Société Generale, and Westpac. The facility’s unsecured nature, paired with no mandatory hedging or cash sweep, gives Westgold considerable operational freedom and reduces financial constraints.

What did Westgold Resources management say?

Managing Director and CEO Wayne Bramwell said:

While Westgold does not require additional funding today, securing long-dated, unsecured and cost-effective liquidity now is strategic and ensures we can continue to invest and expand our business with confidence. These new facilities are a prudent step that enhances our financial flexibility at a time when the business is in a position of real financial strength. They provide us with additional balance sheet resilience and most critically, optionality as to how we bring value forward in our 3-Year Outlook. With our treasury at over $600M at the end of 2025, these facilities will boost our available liquidity to over $1.2B. Westgold thanks CBA, OCBC, RBC, Société Generale and WBC for their support and look forward to working with this syndicate as we advance our growth strategy.

What’s next for Westgold Resources?

With the new facilities in place, Westgold signals a focus on maintaining a strong balance sheet and investing in growth opportunities over the next three years. The increased liquidity provides scope for both organic growth and potential expansion initiatives, while keeping a conservative approach to financial risk.

Westgold’s strategy remains centred on strengthening its operations and advancing its 3-year outlook, leveraging the flexibility this new facility provides to respond nimbly to market opportunities and challenges.

Westgold Resources share price snapshot

Over the past 12 months, Westgold resources shares have risen 161%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.

View Original Announcement

The post Westgold Resources secures $600m syndicated facility in balance sheet boost appeared first on The Motley Fool Australia.

More reading

• Whitehaven Coal earns credit ratings boost, paving way for refinancing
• Liontown: Production and revenue jump as underground ramp-up continues
• Champion Iron secures 90% acceptance for Rana Gruber takeover
• Contact Energy reports strong support for 2026 retail share offer
• 5 things to watch on the ASX 200 on Thursday

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 are wanting to boost your passive income, then it could be worth considering the ASX 200 stock featured in this article.

That’s the view of analysts at Morgans, who believe that this stock could provide investors with one of the biggest dividend yields around.

Which ASX 200 stock?

The stock that Morgans is bullish on is GQG Partners Inc (ASX: GQG).

It is a global investment boutique headquartered in the United States and focused on managing active equity portfolios for investors that include many large pension funds, sovereign funds, wealth management firms, and other financial institutions around the world.

This week, the ASX 200 stock released its latest funds under management (FUM) update and reported a 4.3% increase in FUM to US$172.9 billion during the month of February.

However, this was entirely driven by investment performance, with the company continuing to experience fund outflows.

The company revealed net outflows of US$3.2 billion for the month. These were recorded across all strategies, with emerging markets leading the way. GQG reported net outflows of US$1.3 billion for emerging markets, followed by US$0.9 billion of net outflows from international strategies.

Time to buy

While the net outflows were not pretty, Morgans thinks investors should be focusing on its strong investment performance. That’s because it is likely to be supportive of future FUM inflows.

In light of this and recent share price weakness, the broker has upgraded the ASX 200 stock to a buy rating (from accumulate) with an improved price target of $2.03 (from $1.89).

Based on its current share price of $1.81, this implies potential upside of 12% for investors over the next 12 months.

But the returns won’t stop there, according to the broker. Morgans expects a stunning dividend yield of 11% in 2026 and then the same again in 2027. It commented:

GQG has provided a February FUM update.  Whilst monthly net flows remained negative (-US$3.2bn), strong February investment performance (+US$10.5bn), which drove +4.5% FUM growth, made this a positive update in our view. We lift our GQG FY26F/FY27F EPS by +1%-+2%, driven by increased FUM forecasts based on better investment performance than we expected. Our PT rises to A$2.03 (previously A$1.89).

We acknowledge it remains early, but the improved January and February investment performance for GQG might mark the start of a business turnaround. We continue to see the stock as undervalued trading on 8x FY1 PE and an ~11% dividend yield. With >20% TSR upside, we move to a BUY rating, previously Accumulate.

The post Buy this ASX 200 stock for an 11% dividend yield in 2026 and 2027: Morgans appeared first on The Motley Fool Australia.

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• 5 ASX dividend shares to buy for income in 2026

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

The Whitehaven Coal Ltd (ASX: WHC) share price is in focus after the company received public credit ratings from S&P, Fitch, and Moody’s, with investment grade ratings for its proposed senior secured debt instruments as part of a refinancing program.

What did Whitehaven Coal report?

• S&P Global Ratings assigned a BB+ issuer credit rating, stable outlook
• Fitch Ratings assigned a BB+ issuer default rating, stable outlook
• Moody’s Investors Service assigned a Ba1 corporate family rating, stable outlook
• S&P and Fitch assigned investment grade BBB- ratings to Whitehaven’s proposed senior secured debt
• All ratings reflect the company’s strengthened credit profile and successful operational integration

What else do investors need to know?

Whitehaven’s new credit ratings come as the company looks to refinance its US$1.1 billion acquisition facility. The investment grade ratings on the senior secured debt, in particular, are expected to support better access to global debt capital markets.

This move follows the recent integration of the Daunia and Blackwater metallurgical coal operations. Management highlighted that these additions have improved Whitehaven’s diversification, operating scale, and financial returns.

What did Whitehaven Coal management say?

Managing Director & CEO Paul Flynn said:

These credit ratings recognise Whitehaven’s strengthened credit profile, prudent capital management and the successful integration – and initial improvements – at the Daunia and Blackwater metallurgical coal operations, which have enhanced the Company’s diversification, scale and returns through the cycle. As we progress the refinancing of the US$1.1 billion acquisition facility, these public ratings from all three major global credit rating agencies provide a strong foundation for accessing global debt capital markets and for issuing senior secured debt instruments expected to be rated at investment-grade levels. This will deliver considerable value to our shareholders as we diversify funding, deliver significant cost savings and lower Whitehaven’s weighted average cost of capital (WACC).

What’s next for Whitehaven Coal?

Looking ahead, Whitehaven will focus on completing the refinancing of its existing debt facility. The new credit ratings could enable the company to secure funding on more favourable terms and further diversify its sources of capital.

Management remains committed to disciplined capital management and to strengthening the company’s balance sheet. Investors will be watching for updates as Whitehaven executes its strategy and continues to integrate recent acquisitions.

Whitehaven Coal share price snapshot

Over the past 12 months, Whitehaven Coal shares have risen 48%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 11% over the same period.

View Original Announcement

The post Whitehaven Coal earns credit ratings boost, paving way for refinancing appeared first on The Motley Fool Australia.

More reading

• Westgold Resources secures $600m syndicated facility in balance sheet boost
• Liontown: Production and revenue jump as underground ramp-up continues
• Champion Iron secures 90% acceptance for Rana Gruber takeover
• Contact Energy reports strong support for 2026 retail share offer
• 5 things to watch on the ASX 200 on Thursday

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.

Collins Foods Ltd (ASX: CKF) shares are on the move on Thursday morning.

At the time of writing, the ASX 200 stock is up 11% to $10.50.

Why is this ASX 200 stock rising today?

The catalyst for the move appears to be the release of an announcement from the quick service restaurant operator after the market close on Wednesday.

That announcement revealed plans to accelerate the ASX 200 stock’s expansion in Germany, alongside an update on its Netherlands operations.

According to the release, Collins Foods has signed an asset purchase agreement with JJ Restaurant to acquire eight KFC restaurants in Bavaria, centred around Munich. This will significantly increase its footprint in the region.

Management notes that the deal will increase the company’s German restaurant portfolio by almost 50%, providing greater scale in one of Germany’s most affluent and populous states.

In addition, Collins Foods has secured an expansion of its German development agreements, which will now target 45 to 90 new restaurant openings over the next four years.

The ASX 200 stock believes this will support its strategy of establishing Germany as its second key growth pillar.

Commenting on the news, the company’s managing director and CEO, Xavier Simonet, said:

There is a significant growth opportunity for Collins Foods in the German market, and we are pleased to be executing on our expansion in a disciplined manner. The KFC brand has substantial potential in Germany with approximately a fifth of the store footprint of the largest competitor, McDonald’s. Despite lower restaurant density, KFC enjoys strong brand awareness and consumer appeal in Germany, supporting a compelling opportunity to expand our market presence.

Collins Foods has agreed to pay 31.1 million euros (A$50.3 million) plus working capital.

It anticipates revenues of 28.2 million euros (A$45.6 million) and EBITDA of 5.3 million euros (A$8.6 million) from the acquired restaurants in the first 12 months of ownership post completion.

Netherlands agreement refocused

Alongside the German update, Collins Foods announced that it has signed a revised and extended corporate franchise agreement for the Netherlands with Yum! Brands.

Management advised that the updated agreement will allow the company to sharpen its operational focus and work toward improving profitability in the Dutch market.

Simonet explains:

The updated Netherlands CFA brings our responsibilities into closer alignment with our other operating markets and will enable us to focus more sharply on improving sales and profitability across our network.

Trading update

In addition, the ASX 200 stock provided the market with a trading update.

It revealed that Australia sales are up 6.2% so far in the second half, while Germany sales are up 9.1% and Netherlands sales are up 4.1%. Same store sales growth is 3.2%, 4.1%, and negative 0.3%, respectively.

The post Guess which ASX 200 stock is rocketing 11% on big Euro news appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
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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.

Liontown Ltd (ASX: LTR) shares are under pressure on Thursday morning.

At the time of writing, the lithium miner’s shares are down 2.5% to $1.59.

Why are Liontown shares falling?

Investors have been selling Liontown shares this morning following the release of its half-year results.

According to the release, the company delivered strong growth in production and revenue during the half as the Kathleen Valley lithium project ramps up underground operations.

For the six months ended 31 December, Liontown produced 192,514 dry metric tonnes (dmt) of spodumene concentrate at a grade of 5.0% Li₂O. This represents a 70% increase on the prior corresponding period.

Sales volumes also surged, rising 106% to 189,596 dmt as the Kathleen Valley operation increased output.

Liontown’s average realised price for the period was US$888 per dmt for SC6 concentrate. This is up from US$811 per dmt a year earlier. This helped drive revenue of $207.5 million for the half year, more than double the $100.4 million recorded in the prior corresponding period.

The good news is that its realised price is likely to rise further in the coming quarter. Liontown highlighted that its inaugural Metalshub spot auction in November 2025 cleared at US$1,254 per dmt SC6 for shipment in January 2026.

Ramp-up weighs on earnings

Despite the strong growth in production and revenue, Liontown reported an underlying EBITDA loss of $7.7 million as the project continues to ramp up production.

The company also posted a statutory net loss after tax of $184 million. However, this includes $104.4 million of non-cash charges relating to the LGES convertible note derivative.

Management advised that this accounting charge was largely driven by the company’s share price appreciation during the period and will not recur following the conversion of the LGES notes to equity in February 2026.

Operational costs also declined through the half, with unit operating costs of $985 per dmt and all-in sustaining costs of $1,179 per dmt.

Outlook

Liontown’s managing director and CEO, Tony Ottaviano, was pleased with the half and is positive on its outlook. He said:

Kathleen Valley is now a 100% underground operation. We have delivered a one million tonne per annum underground run-rate on schedule, sold 190,000 tonnes of concentrate across ten shipments, and more than doubled revenue period to period. The underground ramp-up is on track and we expect the second half to be materially stronger as volumes, recoveries, and pricing all continue to improve.

The company’s FY 2026 guidance remains unchanged and cash generation is expected to improve through the second half as production continues to ramp up.

The company also confirmed that work is underway on a refresh of its planned 4 million tonne per annum expansion at the Kathleen Valley lithium operation.

The post Liontown shares drop on $184m half-year loss appeared first on The Motley Fool Australia.

More reading

• Liontown: Production and revenue jump as underground ramp-up continues
• Australia’s next great ASX mining boom: Are we already in it?
• ASX 200 materials sector leads as earnings season ends with a record high
• Why these 3 ASX lithium shares are charging higher today
• Here are the top 10 ASX 200 shares today

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 Liontown Ltd (ASX: LTR) share price is in focus after the lithium miner reported a 70% jump in production to 192,514 dmt and more than doubled half-year revenue to $207.5 million.

What did Liontown report?

• Production: 192,514 dmt at 5.0% Li₂O (up 70% year-on-year); sales 189,596 dmt (up 106%)
• Revenue: $207.5 million, up 107% from H1 FY2025
• Underlying EBITDA: $(7.7) million, reflecting ramp-up costs
• Statutory loss after tax: $(184.0) million, driven by a one-off $(104.4) million non-cash charge
• Unit operating cost: A$985/dmt (FOB); all-in sustaining cost A$1,179/dmt (FOB)
• Cash balance: $390.5 million at 31 December 2025

What else do investors need to know?

The transition to 100% underground mining at Kathleen Valley has been completed, with operational targets achieved on schedule. Liontown reached a run-rate of 1 million tonnes per annum and is targeting 1.5 Mtpa by the end of March 2026.

Liontown’s balance sheet has been reshaped following the conversion of convertible notes held by LG Energy Solution to equity, reducing pro forma gearing (excluding leases) from 48% to 22%. The company also amended its loan facility with Ford, deferring repayments by 12 months to September 2026.

A 4 million tonne per annum expansion study is underway, aiming to leverage existing infrastructure and capitalise on favourable market trends.

What did Liontown management say?

Liontown’s Managing Director and CEO, Tony Ottaviano, said:

Kathleen Valley is now a 100% underground operation. We have delivered a one million tonne per annum underground run-rate on schedule, sold 190,000 tonnes of concentrate across ten shipments, and more than doubled revenue period to period. The underground ramp-up is on track and we expect the second half to be materially stronger as volumes, recoveries, and pricing all continue to improve.

What’s next for Liontown?

The company is expecting a stronger second half in FY2026 as higher volumes, improving recoveries, and rising lithium prices flow through. Guidance for unit costs and production remains unchanged.

Liontown is actively progressing the 4 Mtpa brownfield expansion study, aiming to position itself as one of the very few producers able to bring additional tonnes to the lithium market quickly. The refreshed balance sheet and deferred debt repayments provide a foundation for both ongoing ramp-up and future growth.

Liontown share price snapshot

Over the past 12 months, Liontown shares have risen 167%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 12% over the same period.

View Original Announcement

The post Liontown: Production and revenue jump as underground ramp-up continues appeared first on The Motley Fool Australia.

More reading

• Champion Iron secures 90% acceptance for Rana Gruber takeover
• Contact Energy reports strong support for 2026 retail share offer
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today
• GQG Partners lifts FUM to US$172.9bn in February 2026

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

The Australian share market has no shortage of quality ASX growth shares. But after the recent tech pullback, several sector leaders are trading well below their previous highs — creating what could be compelling long-term opportunities.

If I had $10,000 to invest today, I’d focus on three businesses that dominate their respective niches: healthcare imaging, cloud accounting software, and buy now, pay later (BNPL) payments.

Each ASX growth share has proven technology, strong growth prospects, and significant global expansion potential. While their share prices have all tumbled by 50% or more over the past 6 months, the underlying businesses continue to grow.

Here are three ASX growth shares I’d consider buying today.

Pro Medicus Ltd (ASX: PME)

This $22 billion ASX growth share has become one of the most successful technology companies listed on the Australian market. The Melbourne-based business develops advanced medical imaging software used by hospitals and healthcare providers to process and analyse radiology scans.

Its flagship Visage platform is widely regarded as one of the most powerful imaging systems available. It allows doctors to view and interpret medical images rapidly through cloud-based infrastructure.

A key strength of the business is its highly scalable software model. As new hospitals adopt the platform, the company can grow revenue without significantly increasing costs. This has resulted in exceptional profitability, with operating margins among the highest of any ASX technology company.

The main risk for investors is valuation. The ASX growth share has historically traded at premium multiples, and the company’s growth expectations remain high. Any slowdown in contract wins could weigh on sentiment.

Even so, analysts remain broadly positive. The average 12-month price target is $218.44, representing a potential 60% upside from the current price of $136.79.

Xero Ltd (ASX: XRO)

Xero is one of the world’s leading cloud accounting platforms for small businesses. Founded in New Zealand, the company now serves millions of subscribers across Australia, the United Kingdom, and the US.

Xero has built a powerful ecosystem that connects small businesses with accountants, banks, and payment providers. This network effect makes the platform increasingly valuable as more users join.

Despite strong operational performance in recent years, the share price has experienced volatility amid the broader technology sector sell-off.

The main risks revolve around competition and execution. Xero is expanding aggressively into the US, which represents a massive opportunity but also a highly competitive market.

Most analysts remain optimistic on the ASX growth share and have set an average price target of $152.48, which suggests a possible gain of 86% over 12 months.

Zip Co Ltd (ASX: ZIP)

This ASX growth share has undergone a dramatic transformation over the past few years. Once one of the most speculative names in the buy now, pay later sector, the company has shifted its focus toward profitability and financial discipline.

That strategy appears to be paying off. The company has reported improving margins and stronger cash earnings, while transaction volumes continue to grow in its core markets.

The long-term opportunity remains significant. Digital payments and flexible financing options are becoming increasingly popular among consumers, and Zip’s platform enables shoppers to spread purchases over time while boosting merchants’ conversion rates.

However, risks remain. The buy now, pay later sector is highly competitive, and consumer credit conditions can deteriorate during economic downturns.

Even so, several analysts see improving fundamentals and potential upside for the ASX growth share if the company continues executing its turnaround strategy.

Most brokers have a buy rating on Zip and have set a 12-month price target of $4.21. This points to a massive 146% increase at the current share price of $1.71.

The post Where I’d invest $10,000 in ASX growth shares right now appeared first on The Motley Fool Australia.

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Motley Fool contributor Marc Van Dinther 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 Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.