Australian shares are lower at midday, with the S&P/ASX 200 down 41.6 points, or 0.45 per cent, to 9,222 at 12.10pm AEST. Investors weighed a busy start to earnings season while looking ahead to the Reserve Bank’s interest rate decision on Tuesday. Financials led the decline after Westpac reported a 20 per cent fall in mortgage applications, raising concerns about the impact of higher rates and softer economic conditions.
The other major banks also traded lower, with NAB, Commonwealth Bank and ANZ extending recent losses. Materials helped offset some of the weakness as gold miners benefited from stronger bullion prices, with Newmont and Northern Star advancing, while BHP also traded higher.
In small cap company news:
ReNerve secures approval for NervAlign nerve cuff in India
ReNerve (ASX:RNV) has received marketing approval from India’s Central Drugs Standard Control Organisation for its NervAlign Nerve Cuff, marking the company’s first product approval in the Indian market. The approval clears the way for commercial supply of the nerve repair device and represents a key milestone in ReNerve’s international expansion strategy. ReNerve will now work with its Indian commercialisation partner, NetCentrix Ventures, to progress the rollout across the country.
Minerals Exploration reports high-grade gold and tungsten assays
Minerals Exploration (ASX: MEX) has reported rock chip results of up to 37.4g/t gold and 2.63% tungsten at its Glenorchy Tungsten Project in New Zealand. The company is targeting its first drilling program at the previously undrilled Davidsons Mine in the fourth quarter of 2026, subject to approvals.
Desert Minerals starts drilling at Providence gold resource
Desert Minerals (ASX: DSM) has commenced a 1,000-metre drilling program at its Providence prospect in Western Australia, targeting extensions to its existing 16,400-ounce gold resource. Historical drilling has returned high-grade results including 8 metres at 31.84g/t gold, with the current resource remaining open along strike and at depth.
D3 Energy reaches total depth at second South African well
D3 Energy (ASX: D3E) has reached a total depth of 348 metres at NGT245 D, the second well in its Nooitgedacht drilling program in South Africa. The company will install production casing before both wells undergo flow testing and gas analysis to assess helium and methane concentrations.
Pure One begins drilling at Venus-2H
Pure One’s (ASX: P1E) 69.4%-owned Eastern Gas Corporation has commenced drilling the Venus-2H horizontal appraisal well at Project Venus in Queensland. Drilling is expected to take around 14 days before flow testing begins, with the program designed to support future reserve conversion and development planning.
For an indepth look at ASX-listed companies, including Patagonia Lithium and Horizon Gold, sign up for our Uncovering Hidden Gems webinar on 19 August at 12.30pm AEST. Register here.
