The Australian sharemarket is little changed around midday, with gains in energy and bank stocks offset by weakness in iron ore and gold miners. The S&P/ASX 200 is down 4 points to 8613.10 around 12.15pm after opening as low as 8563.30, with only three of the 11 sectors trading lower. Energy stocks advance as Brent crude stabilises following US strikes on Iranian export infrastructure, while investors monitor the International Energy Agency’s rollout of a strategic reserve release aimed at easing supply concerns in Asia.
Materials stocks weigh on the index as iron ore and gold producers decline. Rio Tinto and Fortescue both fall, while gold miners drop after bullion slips below US$5000 an ounce, with Newmont and Bellevue Gold among the sharpest decliners. Among individual movers, Reliance Worldwide surges after it announced a new share buyback, while KMD Brands falls after it appointed Goldman Sachs to review funding options. Lynas Rare Earths gains after it signed a supply agreement with the US Department of Defence, and Perpetual rises after it agreed to sell its wealth management business to Bain Capital.
In company news,
Elixir Energy records over 1,000m of gas pay at Lorelle-3H well
Elixir Energy (ASX: EXR) has completed drilling at its Lorelle-3H appraisal well in Queensland’s Taroom Trough, recording more than 1,000 metres of net gas-condensate pay within the Tinowon ‘Dunk’ Sandstone reservoir. The well reached a total depth of 4,477 metres and included a 1,157-metre horizontal section drilled entirely within the primary reservoir target, representing the longest lateral drilled in the basin to date. Reservoir quality exceeded expectations, with strong porosity levels and hydrocarbon saturation recorded across the interval. The well has now been cased and suspended ahead of a planned multi-stage stimulation and 30-day production test scheduled for the second quarter of 2026, which the company says could support a maiden reserves booking and future development of the Taroom Trough gas play.
Tetratherix launches precision medicine franchise with US partnership
Tetratherix (ASX: TTX) has launched a new precision medicine franchise built on its Tetramatrix™ polymer platform, signing an exclusive research and development agreement with US consumer health company Superpower Health. Under the deal, Superpower will pay an annual licence fee of US$3 million for up to ten years while also purchasing polymer materials for drug delivery products in the US market. The partnership will initially focus on nasal delivery of compounds including peptides and metabolic treatments using the company’s STEPP polymer carrier system. Tetratherix said the agreement provides immediate revenue generation and strengthens its cash position while core programs in bone regeneration, tissue healing and tissue spacing remain on track, with two FDA approvals expected in mid-2026.
OD6 Metals expands Nevada footprint around Quinn fluorspar project
OD6 Metals (ASX: OD6) has expanded its exploration footprint around the Quinn Fluorspar Project in Nevada after staking multiple new claims covering extensions of historic high-grade fluorite deposits. The newly secured ground includes interpreted strike extensions of known mineralised areas and a large epithermal alteration zone known as the Dresser target. The expanded claim position strengthens OD6’s control over the broader Quinn fluorite district, capturing key structural corridors and favourable host rocks associated with fluorite mineralisation. The company plans to undertake geological mapping, geochemical sampling and verification of historic grades as it progresses toward potential drilling and development of the district-scale project.
