The Australian sharemarket is trading higher in early afternoon as gains in mining and banking stocks offset broader weakness across most sectors. The S&P/ASX 200 is up about 0.4 per cent, with only a handful of sectors in positive territory. Investor sentiment is being shaped by rising bond yields and a stronger Australian dollar, while markets are increasingly pricing in the possibility of a Reserve Bank rate rise next week following hawkish comments from deputy governor Andrew Hauser.
Materials are leading the gains, supported by strength in major miners and gold producers as bullion trades above US$5200 an ounce. The major banks are also higher on expectations that higher interest rates could lift lending margins. Energy stocks have eased after oil prices turned lower, while rate-sensitive sectors including technology, real estate and retail are weaker. In company news, DroneShield expanded its manufacturing footprint into the European Union, GQG Partners reported significant monthly fund outflows, and Macquarie Technology Group secured a $200 million investment to support expansion of digital infrastructure and cybersecurity services.
Ora Banda expands Round Dam gold resource to 1.33 million ounces
Ora Banda Mining (ASX: OBM) reported a major increase in the mineral resource estimate at its Round Dam gold deposit in Western Australia. Drilling expanded the resource to 25.6 million tonnes at 1.6 grams per tonne gold for 1.33 million ounces, representing a tenfold increase from the previous estimate. The updated resource remains open along strike and at depth, with further drilling planned to expand and upgrade the deposit. The increase lifted Ora Banda’s total mineral resources across the Davyhurst project to about 3.3 million ounces as the company advances exploration and development studies.
Brazilian Rare Earths expands Sulista rare earth district in Brazil
Brazilian Rare Earths (ASX: BRE) reported new exploration results that extended the Sulista Rare Earth District in Bahia, Brazil to more than 17 kilometres of strike. Drilling at Sulista East defined mineralisation over more than one kilometre of strike and to depths exceeding 230 metres, with high-grade rare earth intersections reported. The company said additional mineralised centres at Outcrop Ridge and Sulista West highlighted the district-scale potential of the project. The expanded exploration footprint supports plans for a maiden JORC resource estimate targeted for mid-2026.
Rhythm Biosciences completes first commercial ColoSTAT test sale
Rhythm Biosciences (ASX: RHY) completed the first commercial clinical sale of its ColoSTAT colorectal cancer blood test, marking the start of the company’s diagnostic testing operations. The test was conducted through partner 4Cyte Pathology and processed at Rhythm’s laboratory in Melbourne. The milestone confirmed that the full clinical pathway, from blood collection to result delivery, is functioning in a real-world setting. The company said the validated workflow will allow it to begin scaling testing volumes through physicians and the ColoSTAT Access Program.
