Australian shares remained higher at midday, with the S&P/ASX 200 up 63.3 points, or 0.72 per cent, to 8,882.2 at 12.15pm AEST. The market pared stronger early gains after June employment surged by 76,300 jobs, well above expectations, while the unemployment rate held steady at 4.4 per cent. The stronger labour market pushed the Australian dollar above US70¢ and bond yields higher as investors increased bets that interest rates could remain elevated.
Energy stocks were supported by firmer oil prices, with Santos in focus after narrowing its production guidance, while James Hardie gained after beating quarterly forecasts. Macquarie Group also attracted attention after announcing a new chief executive, although the stronger-than-expected jobs data tempered broader market sentiment, as traders reassessed the outlook for monetary policy.
In small cap company news:
Turaco Gold extends high-grade gold mineralisation at Afema
Turaco Gold (ASX: TCG) has reported encouraging deep drilling results from the Woulo Woulo deposit at its 4.65Moz Afema Gold Project in Côte d’Ivoire, confirming gold mineralisation approximately 250 metres below the current resource. Standout results included 100 metres at 1.06g/t gold from 495 metres, including 36 metres at 1.87g/t and 17 metres at 2.96g/t gold, supporting the potential to expand the existing 1.7Moz Woulo Woulo resource. The company said the drilling validates its geological model, with higher-grade zones continuing at depth and offering the potential for a larger open pit or future underground mining. Additional drilling is underway at Woulo Woulo, while rigs are also active at the Adiopan, Anuiri and Begnopan deposits as Turaco continues to target resource growth across the broader Afema project.
Rokeby Resources begins drilling at Omeo Gold Project
Rokeby Resources (ASX: RKB) has commenced its maiden drilling program at the Sunnyside deposit following the acquisition of the Omeo Gold Project in Victoria. The nine-hole, 2,180-metre diamond drilling campaign is targeting known high-grade gold shoots to support a JORC-compliant resource estimate, with four holes completed and a fifth currently underway. The company has engaged Mining One to convert the historical resource to the JORC Code and said early drilling has produced good core recovery with minimal deviation. Assay results are pending, while the broader program aims to grow and upgrade the resource and guide future exploration across the Mt Wills area.
Astral Resources delivers high-grade drilling at Mandilla
Astral Resources (ASX: AAR) has reported another strong batch of in-fill drilling results from the Theia deposit at its Mandilla Gold Project near Kalgoorlie, with assays continuing to validate the geological model and support conversion of Stage 1 resources to the higher-confidence Measured category. Better intersections included 31 metres at 3.03g/t gold, including 1 metre at 59.8g/t gold, alongside several other broad, high-grade intercepts. The company said the three-phase drilling program remains on schedule, with 151 holes completed to date and a further 280 holes planned through the remainder of 2026. Astral believes upgrading the Stage 1 inventory will de-risk the Definitive Feasibility Study and project financing while increasing confidence in the early years of planned production from the Mandilla Gold Project.
Cobre advances Botswana copper projects with partner-backed exploration
Cobre (ASX: CBE) has provided a broad update on its Botswana portfolio, highlighting progress across development, exploration and strategic partnerships in the Kalahari Copper Belt. The company has signed a collaboration agreement with Equinor to evaluate in-situ copper recovery at its 100%-owned Ngami Copper Project, commenced commissioning of its demonstration well field, and continued partner-funded exploration with BHP and Sinomine across its broader project portfolio. Recent drilling has also delivered encouraging copper-silver results, confirming mineralisation over 800 metres of strike at the Cosmos target, with higher-grade zones intersected in every hole. At the Okavango Copper Project, follow-up drilling is underway after initial results identified new target areas near MMG’s Zone 5 operations, while BHP-funded seismic surveys have generated additional drill targets across the Kitlanya projects.
Energy Technologies signs US defence technology licensing agreement
Energy Technologies (ASX: EGY) has signed a five-year Master License Agreement through its wholly owned subsidiary Cogenic with Tennessee-based deep tech company Amalgamated Vision to develop a military-grade wearable heads-up display for defence and aerospace applications. The collaboration will combine Cogenic’s Laser Beam Scanning technology with Amalgamated Vision’s optical platform to support ongoing projects for the US Air Force’s AFWERX program and NASA. Under the agreement, Cogenic will receive a 5% royalty on gross sales of any commercialised product developed through the partnership, although the company noted there is no guarantee of future revenue while development work continues. Energy Technologies said the deal represents the first step in Cogenic’s strategy to focus on high-value defence and aerospace markets and demonstrate the commercial potential of its laser technology.
