Australian shares are higher at midday, with the S&P/ASX 200 up 0.69% to 8519.70 at 12.30pm, after recovering earlier losses as sentiment improves on reports that US President Donald Trump is prepared to end the military campaign in Iran even if the Strait of Hormuz remains largely closed. Oil prices are slightly higher, with Brent crude at around US$108 a barrel, while the index remains on track for its worst monthly performance since March 2020 despite the rebound.
Across the sectors, technology stocks are stronger following recent declines, while the major banks are mixed but provide support to the index. Energy stocks continue to hold gains accumulated this month, and gold miners are higher as gold trades around US$4546 an ounce. In company news, Koala lists on the ASX and is trading above its IPO price, ARN Media falls after legal action is launched, Collins Foods confirms plans to exit Taco Bell in Australia, Electro Optic Systems secures new US contracts, and West African Resources outlines production guidance for 2026.
In small-cap company news,
Critical Resources begins field work across New Zealand gold and tungsten projects
Critical Resources (ASX: CRR) commenced ground-based exploration at its Lammerlaw and Croesus projects in New Zealand following permit approvals. Historical sampling at Croesus returned tungsten grades of up to 42.6% WO₃, alongside gold-antimony mineralisation across a ~5km trend, while Lammerlaw hosts multiple structurally controlled gold targets. The field program marks the transition from desktop studies to active exploration, with initial results expected from Lammerlaw in May.
Olympio Metals reports high-grade gold intercept at Bousquet project in Quebec
Olympio Metals (ASX: OLY) reported final assay results from Phase 2 drilling at its Bousquet Gold Project, including a high-grade intercept of 19.4 metres at 17.29 g/t gold from 172.5 metres. The result includes previously reported higher-grade intervals and supports the presence of multiple gold lodes within the Paquin prospect. Assays remain pending for additional drill holes, with further work planned to refine the geological model and guide the next drilling phase.
Pioneer Minerals identifies widespread gallium mineralisation at Springfield prospect
Pioneer Minerals (ASX: PMM) reported gallium assay results from rock chip sampling at its Springfield Prospect in Idaho, with values exceeding 120 ppm Ga₂O₃ and multiple results above 60 ppm. The results confirm a broad zone of gallium enrichment and indicate a multi-commodity system alongside existing tungsten and gold mineralisation. Metallurgical work is underway to assess recovery pathways, with further exploration and permitting activities planned to support drilling.
