Lunch Wrap: ASX slips as iron ore miners nurse a hangover; oil stocks surge
Miners wobble while Newmont shines

Whitehaven hits targets, Maas caught up in corruption cloud
The ASX was dragging its feet on Friday, down 0.5% at lunch time in the eastern states as a murky Wall Street session cast a long shadow across the Aussie bourse.
The only sector doing any real heavy lifting was energy, which managed to fire up thanks to rising oil prices overnight.
Oil stocks caught a nice tailwind from a sharper-than-expected US crude inventory draw, and rumblings of Russia choking off gasoline exports to everyone except its inner circle of allies.
Add in whispers of a US-EU trade deal, and you've got a barrel full of bullish fuel.
Miners, however, were getting smacked. Iron ore futures barely moved, but it wasn't enough to stop BHP (ASX:BHP), Rio Tinto (ASX:RIO) and Fortescue (ASX:FMG) giving up some of their previous days' gains, down well over 1%.
Traders are fretting about seaborne supply catching up with demand, despite China's slow-motion stimulus.
Gold miners were also caught in the downdraft.
As US Fed watchers bet on interest rates staying put, gold slid and took stocks like Northern Star Resources (ASX:NST) and Evolution Mining (ASX:EVN) with it.
The exception was Newmont Corporation (ASX:NEM).
The global gold giant defied the tide, jumping 3.8% after beating earnings estimates and churning out 1.5 million ounces of gold in Q2.
This is where we stood at about 1pm AEST:
In other large caps news, Whitehaven Coal (ASX:WHC) wrapped up FY25 with a strong June quarter, hitting or beating all its guidance targets.
Managed run-of-mine (ROM) production for the year jumped 60% to 39.1Mt, while equity coal sales hit 26.5Mt. Costs came in below forecast at ~$139/t, with capex also under guidance.
And, MAAS Group Holdings (ASX:MGH) slid 1.2% after confirming its Capital Asphalt unit had been swept into an ICAC probe.
The alleged dodgy dealings, involving bribes and inflated invoices worth $343 million, predate Maas' involvement, but the market didn't care much for the clarification.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for July 25 :
Security Description Last % Volume MktCap
ALB Albion Resources 0.135 96% 29,345,846 $9,103,400
MQR Marquee Resource Ltd 0.014 56% 10,080,058 $5,024,723
ENT Enterprise Metals 0.003 50% 366,600 $2,742,635
ZMM Zimi Ltd 0.012 50% 1,050,000 $3,920,351
KFM Kingfisher Mining 0.070 49% 1,726,160 $2,524,605
5EA 5Eadvanced 0.805 34% 150,887 $8,822,124
RNX Renegade Exploration 0.004 33% 1,000,000 $3,865,090
DBO Diabloresources 0.019 27% 1,654,807 $2,521,738
CRR Critical Resources 0.005 25% 1,870,000 $11,080,342
AMO Ambertech Limited 0.185 23% 380,827 $14,310,717
IMB Intelligent Monitor 0.590 22% 1,793,143 $173,011,446
AMS Atomos 0.006 20% 889,120 $6,075,092
EE1 Earths Energy Ltd 0.006 20% 100,000 $2,649,821
LBL Laserbond Limited 0.565 19% 418,460 $55,884,697
CRN Coronado Global Res 0.230 18% 20,483,304 $326,908,477
CDE Codeifai Limited 0.027 17% 24,380,319 $10,853,722
ATS Australis Oil & Gas 0.011 17% 692,621 $11,862,562
GBE Globe Metals &Mining 0.042 17% 338,315 $25,007,508
GRE Greentechmetals 0.091 17% 673,563 $8,844,820
IS3 I Synergy Group Ltd 0.014 17% 2,776,404 $20,475,599
TYX Tyranna Res Ltd 0.004 17% 2,006,791 $9,865,276
NUZ Neurizon Therapeutic 0.180 16% 1,225,464 $76,307,394
VHM Vhmlimited 0.235 15% 183,202 $51,981,840
LSA Lachlan Star Ltd 0.063 15% 74,000 $13,891,526
Albion Resources (ASX:ALB) has kicked off drilling at Collavilla with a bang, hitting gold in every hole from the first batch of assays. The standout was 11m at 20.0g/t from just 17m depth, including 5m at nearly 39g/t. It's only scratched a small patch of the 4km-long Ives Find granite, but the early signs point to a high-grade system.
Kingfisher Mining (ASX:KFM) has picked up a strategic package of copper-gold and silver-lead-zinc projects in NSW from Austin Metals for $200k in cash and $200k in shares. The deal includes 11 tenements across 700km2 in three key regions – Broken Hill, Cobar, and the Macquarie Arc - near major deposits. Standout assets include the Copper Blow IOCG prospect, which has returned hits up to 6.1% copper and 4.2g/t gold.
AmberTech (ASX:AMO), which specialises in audio-visual tech and defence comms gear, expects FY25 revenue to top $100 million, up from $95.5 million last year. The second half alone brought in over $54 million, with margins also improving. Demand from defence continues to build, and Ambertech says its diversified product base is proving resilient despite soft patches in consumer HiFi.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for July 25 :
Code Name Price % Change Volume Market Cap
BMO Bastion Minerals 0.001 -50% 300,000 $3,162,696
MIO Macarthur Minerals 0.015 -40% 47,030 $4,991,638
AOA Ausmon Resorces 0.001 -33% 2,000,000 $1,966,820
BP8 Bph Global Ltd 0.002 -33% 1,831,399 $3,152,954
EEL Enrg Elements Ltd 0.001 -33% 1 $4,880,668
HCD Hydrocarbon Dynamics 0.002 -33% 450,000 $3,234,328
MTL Mantle Minerals Ltd 0.001 -33% 333,333 $9,671,169
OB1 Orbminco Limited 0.001 -33% 4,961,460 $5,103,852
GMN Gold Mountain Ltd 0.071 -29% 23,409 $12,211,261
AJL AJ Lucas Group 0.005 -29% 90,000 $9,630,107
GTE Great Western Exp. 0.016 -27% 4,329,219 $12,490,674
CTN Catalina Resources 0.004 -20% 15,950,000 $12,130,095
FAU First Au Ltd 0.005 -17% 381,631 $12,457,748
SLZ Sultan Resources Ltd 0.005 -17% 142,142 $1,388,819
OCT Octava Minerals 0.034 -15% 1,062,312 $2,440,372
IFG Infocusgroup Hldltd 0.018 -14% 1,067,733 $6,130,723
BNL Blue Star Helium Ltd 0.006 -14% 437,628 $18,864,197
OVT Ovanti Limited 0.006 -14% 1,693,332 $29,920,265
TMS Tennant Minerals Ltd 0.006 -14% 47,368 $7,461,233
ESK Etherstack PLC 0.410 -14% 40,944 $62,990,701
JAT Jatcorp Limited 0.320 -14% 18,805 $30,808,665
BMG BMG Resources Ltd 0.007 -13% 121,958 $6,755,177
HPC Thehydration 0.014 -13% 45,545 $6,892,815
IN CASE YOU MISSED IT
Joint pain has become a major focus for Australia's booming complementary medicines industry, now worth more than $6.4 billion a year. Complementary Medicines Group (CMG) is entering the conversation with a new product focused on knees.
Sovereign Metals (ASX:SVM) have passed another major milestone towards a DFS for its flagship Kasiya rutile-graphite project in Malawi.
GTI Energy (ASX:GTR) has secured approval to start drilling its Lo Herma uranium project in Wyoming as the US looks to rebuild its domestic supply chain.
Modelling at Firetail Resources' (ASX:FTL) Picha copper project in Peru has been reinforced by UAV magnetics data pointing to the possibility of a significant porphyry system.
LAST ORDERS
Rhythm Biosciences (ASX:RHY) has teamed up with the Memorial Sloan Kettering Cancer Center to investigate the use of its geneType technology. The two entities will collaborate to assess the value of genetic risk scores for breast and ovarian cancer, particularly in BRCA1/2 carriers.
Management says it's an important step in understanding the connection between genetic predisposition and cancer prevalence, with the goal of enabling earlier detection, informed decision-making and proactive risk reduction.
At Stockhead, we tell it like it is. While Rhythm Biosciences is a Stockhead advertiser, it did not sponsor this article.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mercury
30 minutes ago
- Mercury
Aus banks slash interest rates early as RBA showdown looms - realestate.com.au
Aussie homeowners are set for repayment relief with a third 2025 rate cut almost a certainty. Seven Aussie banks have slashed interest rates early in a race to beat rivals ahead of next week's Reserve Bank decision, as a drop in inflation fuels a rate-cutting competition. Canstar's database found seven lenders have moved on rates since last Monday, three of whom did so just days after shock CPI figures revealed trimmed mean inflation fell again for the second quarter in a row to well within the RBA's target band (2.7 per cent) – a level considered a key trigger for cheaper lending. MORE: Aus landlord's epic council battle ends in demolition Explosive reform of negative gearing, capital gains perks Current big four bank cash rate forecasts. Source: Canstar data insights director Sally Tindall said that all but confirmed Australia's third official 2025 cash rate cut would happen on August 12. All four big banks – CBA, Westpac, NAB and ANZ – have predicted that RBA's next move will be August 12 by 0.25 percentage points, but in the days since inflation figures were released a week ago, three lenders have already jumped the gun. A Canstar spokesperson said between July 30 (when inflation data was released) and yesterday two lenders cut at least one variable home loan rate – Auswide Bank and Up – while 'one lender cut its lowest fixed rate – Bank of China'. Among the lowest variable rates brought in just before the inflation data was that of Police Credit Union dropping to 4.99pc for owner-occupiers – a shock figure that heralded the start of the lowest variable rate in two years across the country. All up since last Monday seven lenders have moved rates lower – Auswide Bank and Up for variables, while for fixed it was G & C Mutual Bank, Macquarie Bank, The Mutual Bank, Unity Bank, and Bank of China. RELATED: Shock as lenders slash rates to lowest level in 2 years Canstar data insights director Sally Tindall believes inflation figures 'all but confirmed' an August 12 rate cut. Picture: Tim Hunter. 'There were a few other lenders that moved fixed rates in the days prior to CPI figures, including Macquarie Bank and The Mutual Bank, which has the equal-lowest fixed rate at 4.94 per cent for two and three years.' A 0.25pp drop in interest rates by either their lender or RBA would see a $90 fall in minimum monthly repayments for an owner-occupier with a $600,000 debt and 25 years remaining on their loan (to $3,703/mth). Someone with a $750,000 loan and 25 years left would drop $113 to $4,628, while a $1m home loan minimum repayment would go to $6,171 off a fall of $150. The figures assume the borrower is an average variable owner-occupier paying principal and interest. ABS Quarterly CPI – annual movement – is the final piece in the August puzzle for RBA. Source: Canstar. 'While an RBA cut looks to be a near-certainty, if you've got a mortgage, don't bank on any extra cash until it lands in your bank account,' Ms Tindall said. 'The RBA has shown it doesn't dance to the beat of market expectations — it's the one steering the ship.' 'Banks are also at the helm of your mortgage and while we expect the big banks to step up to the plate and pass the next cut on in full, there's no guarantee every lender will do this.' MORE REAL ESTATE NEWS Homeowners are set to see both strong capital gains and mortgage relief this year.
AU Financial Review
30 minutes ago
- AU Financial Review
ASX set to rise, US stocks edge broadly lower
Australian shares are poised to edge higher. Shares were modestly lower in New York after data on the US services sector disappointed and oil fell after a report Russia is set to propose an air truce with Ukraine. Results expected on Wednesday include AMP, News Corp, REA Group and Pinnacle Investment Management Group. The Institute for Supply Management's index of services declined last month to 50.1, below all estimates in a Bloomberg survey of economists. The employment index contracted. The group's measure of prices paid for materials and services climbed to the highest since October 2022. 'Spending on services has already slowed significantly from its solid pace last year, and the clear deterioration in the labour market and drag on real incomes from tariffs suggest a marked recovery is unlikely,' Pantheon Macroeconomics said. 'Even so, we think stagnation in the coming months is far more likely than a collapse.' President Donald Trump said that Treasury secretary Scott Bessent had withdrawn his name from consideration as a successor to Jerome Powell as chairman of the Federal Reserve. Market highlights ASX futures are pointing up 16 points or 0.2 per cent to 8744. All US prices as near 2.30pm New York time. Today's agenda Results are expected on Wednesday from AMP, News Corp, REA Group, Pinnacle Investment Management Group, BWP Trust, Centuria Industrial Reit, Charter Hall Long WALE REIT and Emerald Resources NL. The data focus is overseas on Wednesday with NZ's second-quarter employment at 8.45am AEST. TD Securities: 'Monthly filled job data imply a negative employment growth print over the quarter at -0.1 per cent. We expect the participation rate to ease again to 70.7 per cent (prior: 70.8) which on net would push the unemployment modestly higher to 5.2 per cent and in line with the RBNZ's May forecast. 'We see the RBNZ cutting by 25bps in August to 3 per cent with most data outcomes coming in line with forecasts but surveys point to near term downside risks to growth.' Top stories Blow to Chalmers' hopes for summit unity as BHP clashes with PC over tax | The nation's biggest corporate taxpayer has pushed back against the Productivity Commission's cash-flow tax proposal, undermining the treasurer's push for unity at his roundtable. Nine's publishing to out-earn free-to-air television in two years | The newspapers division will be the most valuable part of the business after it sells Domain to US property giant CoStar, analysts say. | Automating tasks could deliver a 4.3 per cent increase in labour productivity growth, the Productivity Commission says, but it won't be easy for humans. | The rising cost of building transmission is prompting questions over whether a comprehensive grid build-out is the best energy transition option for consumers.
AU Financial Review
30 minutes ago
- AU Financial Review
The PEXA monopoly's stand-in CFO
The monopoly that PEXA enjoys in the e-conveyancing space is near total. Almost everyone who buys and sells real estate in this country pays something like $140 to the ASX-listed, Commonwealth Bank-backed company that sits between banks when the sale goes through. The $340 million in annual fees it collects is, naturally, a red rag to policymakers like ACCC chair Gina Cass-Gottlieb and Assistant Minister for Competition Andrew Leigh. The latter gets so fired up about its singular dominance he starts giving history lessons about Adam Smith.
