Australian shares were higher at midday, with the S&P/ASX 200 rising 50.0 points, or 0.57%, to 8,812.5 at 12:25pm AEST as investors returned to mining stocks after commodity prices steadied. Gold edged back towards US$4,120 an ounce, while markets continued to monitor renewed Middle East tensions and the potential impact on inflation and global interest rates.
Materials led the gains, with Rio Tinto, BHP, Newmont, Northern Star and Genesis Minerals all higher, while uranium stocks also rallied. Banks added support, with all four major lenders advancing. Healthcare was the weakest sector as Pro Medicus, Telix and CSL declined, while energy stocks eased on profit-taking, with Woodside and Santos lower after this week’s strong gains.
In small cap company news:
Rural Funds accelerates deleveraging with $255.6m asset sales
Rural Funds Group (ASX: RFF) has agreed to sell five agricultural assets for a combined $255.6 million, representing an average 22.7% premium to their December 2025 book values. The divestments are part of the group’s strategy to reduce gearing, with proceeds initially directed towards debt repayment. The transactions are expected to reduce pro forma gearing to 31.6%, within the group’s target range of 30–35%, while also satisfying conditions linked to an increase in its guarantee facility with JBS. Rural Funds reaffirmed its FY26 AFFO guidance of 11.7 cents per unit, with the sales expected to provide a net benefit following settlement. Click here to see the full announcement
Chilwa advances Nasdaq listing plans with SEC filing
Chilwa Minerals (ASX: CHW) has lodged a registration statement with the US Securities and Exchange Commission as it prepares for a proposed public offering of American Depositary Shares and a potential listing on the Nasdaq Capital Market. Each ADS will represent 10 ordinary shares, while the company’s ASX listing will remain unchanged. The proposed offering remains subject to SEC review, market conditions and final board approval, with pricing and the size of the raising yet to be determined. Chilwa said the move is designed to broaden its access to international capital markets as it progresses its critical minerals portfolio. Click here to see the full announcement
Peregrine identifies new gold target at Newman
Peregrine Gold (ASX: PGD) has discovered gold-bearing palaeo gravels at its Newman Gold Project in Western Australia, defining a new target known as the Capricorn Prospect extending up to four kilometres south of the Peninsula Prospect. Early sampling confirmed widespread gold anomalism and prompted the company to lodge a Mining Lease application over the area. The company has completed systematic geochemical sampling across the new target, with additional assay results still pending. Peregrine believes the discovery highlights further exploration potential within the broader Newman Gold Project as it continues to evaluate the new prospect.
Cavalier secures project funding for Crawford development
Cavalier Resources (ASX: CVR) has secured binding financing term sheets worth approximately A$23 million to fund development of its Crawford Gold Project. The package includes a US$13 million gold prepayment facility and a A$5 million gold loan facility, providing capital while minimising shareholder dilution.
The funding will support site establishment, procurement, construction and working capital as Crawford advances towards production. Management said the repayment structure aligns with future project cash flows and represents a significant milestone in moving the project into its development phase.
Noronex defines new copper targets across Kalahari Belt
Noronex (ASX: NRX) has completed its latest exploration program across the Kalahari Copper Belt in Namibia and Botswana, identifying a series of priority copper targets for follow-up drilling. The work, completed under its earn-in agreements with South32, combined drilling, geophysics and geological interpretation to refine future exploration plans. The company is now preparing a new drilling campaign later this year, including approximately 3,000 metres of drilling across priority targets in Namibia and Botswana. Management said the latest results have strengthened its geological model and improved confidence in identifying prospective copper-bearing structures across the project portfolio.
