The Australian sharemarket pared earlier losses by midday as gold climbed above $US5000 an ounce amid renewed geopolitical tension between the United States and Iran. The S&P/ASX 200 is trading 0.1 per cent lower in early afternoon, with seven of 11 sectors down. Gold rose 0.3 per cent to $US5012.34 an ounce after US President Donald Trump signalled a 10 to 15-day window for negotiations with Iran over a nuclear deal. Gold miners are mixed, with Evolution Mining and Northern Star up, while Perseus Mining rose after reporting a first-half profit of $US185.5 million. Newmont is down following its quarterly result, while Mineral Resources is up after beating first-half EBITDA expectations. Oil stocks are mixed as crude reached its highest level since August, while technology is the weakest sector, with WiseTech Global, Xero and Megaport all down.
Among individual stocks, Alliance Aviation is down after flagging an unprofitable airline contract and reporting a $105.8 million first-half net loss. Guzman y Gomez is down as softer sales offset confidence in meeting store opening targets. QBE is up after reporting a 21 per cent increase in full-year net profit to $US2.16 billion, supported by stronger premium income and investment returns. Inghams Group is down after cutting its full-year profit forecast to between $180 million and $200 million. Austal is up after securing a $4 billion defence contract to build eight landing craft heavy vessels.
In company news,
Recharge Metals to acquire Sunset Well gold project with 94.5koz resource
Recharge Metals (ASX:REC) entered a binding agreement to acquire 100% of the Sunset Well Gold Project near Leonora in Western Australia, which hosts a JORC 2012 Inferred Mineral Resource of 2.87 million tonnes at 1.0g/t gold for 94,500 ounces at the Prospero Deposit. The project spans 181 square kilometres and includes two major shear zones with historical high-grade intercepts and limited drilling below 100 metres depth. Recharge has secured firm commitments for a $3.75 million placement and launched a $2.0 million rights issue to fund drilling and working capital.
Viking completes due diligence on Nevada tungsten portfolio
Viking Mines (ASX:VKA) completed due diligence on its proposed acquisition of high-grade tungsten projects in Nevada and has entered the formal acquisition phase with BLK Group LLC. Historical drilling and surface sampling confirmed high-grade mineralisation, including 7.9 metres at 0.9% WO₃ and stockpile samples grading 0.8% WO₃. The company has commenced geophysical surveys and 3D modelling ahead of a planned 2026 drilling campaign, with federal permitting and metallurgical testwork underway.
Impact Minerals’ Alluminous ships first 15kg of HPA to US partner
Impact Minerals (ASX:IPT) announced that its 50%-owned associate Alluminous has produced and shipped approximately 15 kilograms of HiPurA® high-purity alumina to US battery materials company C4V for formal testing under their Technology Development Agreement. The shipment marks the first significant production from the Perth pilot plant, now operating in batch mode, with a transition to continuous operation targeted next quarter. The material will undergo laboratory and pilot-scale validation as part of product qualification for lithium-ion battery markets.
Rural Funds lifts income and reaffirms FY26 guidance
Rural Funds Group (ASX:RFF) reported a 6.8 per cent rise in net property income to $48.6 million for the half-year to 31 December 2025, driven by additional rental income from macadamia developments. Earnings increased to $44.1 million, reflecting revaluation of interest rate swaps and gains on asset sales, while adjusted funds from operations were 5.53 cents per unit and distributions 5.87 cents per unit, in line with forecasts. Adjusted net asset value rose to $3.10 per unit and pro forma gearing edged down to 39.1 per cent after $60.7 million in asset divestments, despite $70.7 million of capital expenditure. Full-year FY26 AFFO and distribution guidance were reaffirmed.
