Australian shares are sharply higher at midday, with the S&P/ASX 200 up 2.5% to 8946.1 at 12.30pm AEST, following news of a two-week ceasefire between the United States and Iran. The rally is broad-based, with nine of 11 sectors higher, as easing geopolitical tensions support risk sentiment. Oil prices have fallen significantly, with Brent crude down more than 13% to around US$94.80 a barrel, while gold prices are higher.
Across the sectors, technology stocks are leading gains alongside strength in real estate and materials, while airlines are also higher on expectations of lower fuel costs. Gold miners are advancing in line with bullion prices. Energy stocks are weaker, reflecting the sharp decline in oil prices. In company news, DroneShield declined following leadership changes, Pro Medicus secured a new contract, Flight Centre advanced on an asset sale, and Magellan Financial reported lower assets under management.
In other company news,
Resolution Minerals secures FAST-41 status for Antimony Ridge project
Resolution Minerals (ASX: RML) secured inclusion of its Antimony Ridge Project in the US Federal FAST-41 Permitting Transparency Program, aimed at accelerating approvals for critical infrastructure. The designation is expected to streamline permitting and support planned bulk sampling and drilling, including up to 250 holes. The project forms part of the company’s broader Horse Heaven strategy, which includes processing infrastructure, tungsten stockpiles and a 2026 drilling program.
Advance Metals delivers maiden 33Moz silver equivalent resource at Yoquivo
Advance Metals (ASX: AVM) reported an initial JORC (2012) inferred mineral resource of 8.8Mt at 120g/t silver equivalent for 33Moz AgEq at its Yoquivo Silver-Gold Project in Mexico. The estimate is supported by 99 diamond drill holes and highlights broad zones of shallow, contiguous mineralisation, indicating potential for both open pit and underground mining scenarios. Mineralisation remains open along strike and at depth, with further drilling planned to support resource growth.
White Cliff Minerals reports high recoveries from Danvers copper project testwork
White Cliff Minerals (ASX: WCN) reported metallurgical testwork results from its Danvers deposit within the Rae Copper Project in Canada, achieving copper recoveries of up to 95.4% and silver recoveries of up to 93.3%. The testwork produced high-grade concentrates using a conventional flotation process, with no requirement for regrinding and limited deleterious elements identified. The results support a simplified processing pathway and potential development of a saleable concentrate.
