The Vulcan Energy Resources Ltd (ASX: VUL) share price is seesawing on Monday after the company announced another key project win before market open.

In morning trade, the lithium developer's shares are down 0.54% to $3.70. The stock briefly traded higher earlier in the session, but weakness across the broader ASX has since pushed it into the red.

By comparison, the S&P/ASX 300 Index (ASX: XKO) is 0.40% lower to 8,851 points.

Even with today's modest decline, Vulcan shares remain down around 16% in 2026 and well below their 52-week high of $6.29.

Let's take a closer look.

German royalty exemption boosts Lionheart economics

According to the release, Germany's state of Rhineland-Palatinate has granted Vulcan a royalty exemption for lithium production tied to its Phase One Lionheart Project.

The exemption applies to Lionheart's upstream lithium production facilities, which are currently under construction. It runs through to 31 December 2030, subject to a review one year earlier.

This removes a potential state royalty cost from one of Europe's most strategic lithium supply projects.

The company noted that geothermal energy in the region has operated under a similar state exemption since 2009, which fits with Vulcan's integrated renewable geothermal and lithium extraction model.

Lionheart is targeting annual production of 24,000 tonnes of lithium hydroxide monohydrate, enough for roughly 500,000 EV batteries each year. The project is also expected to produce renewable electricity and geothermal heat for local users.

Why the deal is supporting the shares

While the stock is now lower on the day, the modest pullback still suggests the update is helping limit the downside against a weaker market backdrop.

Removing a royalty burden improves the long-term economics of the Lionheart Project and may be giving investors more confidence in future returns once production begins.

It also reinforces the level of political and regulatory backing Vulcan continues to receive in Germany.

The update also comes shortly after the company secured its lithium production licence, while Phase One construction continues to move ahead.

At current levels, the company's market capitalisation sits around $1.78 billion.

Foolish takeaway

Vulcan's latest German royalty exemption looks like another incremental but valuable win for the Lionheart Project.

On a day when geopolitical worries are weighing on the broader ASX, the stock's limited decline suggests the positive project update is helping offset some of the market weakness.

With construction now underway, the next focus is likely to be how smoothly Lionheart moves toward first production.

The post Why this ASX stock is slipping today even as it lands a German project win appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Champion Iron Ltd (ASX: CIA) shares are edging lower on Monday, even after the miner confirmed completion of its European expansion into Norway.

In morning trade, the Champion Iron share price is down 0.76% to $5.19. The decline comes as broader ASX weakness weighs on sentiment after weekend peace talks between the United States and Iran failed to produce an agreement.

That wider risk-off move appears to be dragging the stock lower alongside the market, despite what is otherwise a strategically positive acquisition update.

The company's completion of the Rana Gruber deal is still likely helping limit the downside, with the shares remaining up about 23% over the past 12 months.

European expansion deal officially closes

According to the release, Champion has finalised the settlement of its recommended cash offer for Rana Gruber, completing the acquisition.

The deal was completed at NOK 79 per share, valuing Rana Gruber at roughly NOK 2.93 billion, or close to US$290 million based on the original terms announced in December.

This gives Champion ownership of a long-life iron ore asset in Norway with direct access to European customers and exposure to premium high-purity concentrate products.

Rana Gruber currently produces more than 1.8 million tonnes per year of high-grade iron ore. It has also been progressing a 65% Fe product upgrade, which aligns with growing demand for cleaner steel inputs.

Why the deal may be limiting the downside

The deal adds a second operating hub alongside Champion's flagship Bloom Lake mine in Quebec.

It means the company is no longer relying on just one operating region. It also gives it established customer relationships across Europe, where green steel supply chains are becoming a bigger long-term focus.

Management also noted that the transaction is expected to be earnings, EBITDA, and cash flow accretive on a per-share basis in the near term.

That may be helping keep the sell-off relatively modest today, even as broader market weakness drags most ASX stocks lower.

At current levels, Champion is valued at roughly $2.79 billion and trades on a dividend yield above 4%.

Foolish Takeaway

Champion's latest rise indicates investors see the Rana Gruber acquisition as a genuine growth move.

The move expands its premium iron ore exposure into Europe, adds diversification beyond Canada, and strengthens its position in lower-carbon steel supply chains.

If management delivers on its expected earnings uplift, this deal could end up being one of the bigger moves in the ASX materials space this year.

Personally, I would still only allocate a small portion of funds here, as I prefer ASX businesses with broader growth drivers and less reliance on iron ore pricing.

The post Why this ASX 200 iron ore stock is holding up in today's sell-off appeared first on The Motley Fool Australia.

More reading

• Champion Iron finalises acquisition of Norway's Rana Gruber
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Avita Medical Inc (ASX: AVH) share price is pushing higher again on Friday, extending its strong short-term rebound.

In afternoon trade, the Avita share price has shot up 8.33% to $1.30, taking its 1 week gain to almost 20%.

That surge is standing out against a weaker backdrop, with the S&P/ASX All Ordinaries Index (ASX: XAO) down 0.3% to 9,138 points. This comes as investors react to the latest developments in the Middle East between the US, Israel and Iran.

Fortunately for Avita, the rebound has been building for several sessions this week. The stock rose 6.31% on Wednesday and added another 1.69% on Thursday, despite widespread selling across the ASX.

Let's take a look at what's driving the shares higher.

Major US government deal supports sentiment

Avita's update this week appears to be the key catalyst, centred on a 10-year agreement with the US Biomedical Advanced Research and Development Authority (BARDA).

Worth up to US$25.5 million, the deal is aimed at strengthening US emergency preparedness for large-scale burn casualty events.

BARDA will have access to 3,000 units of Avita's RECELL treatment platform at any point during the contract period. Avita will also manage inventory, logistics support, and deployment readiness.

The full contract value includes procurement options that may not all be exercised. Avita said about US$3.97 million is expected to flow through as revenue over the 10-year term via annual access and readiness support fees.

The market is repricing execution risk

Friday's rally is also notable because it comes after a prolonged period of heavy selling in the stock.

Even with this week's rebound, Avita shares remain down more than 50% over the past 12 months. This shows how aggressively the market had already marked down execution risk and earnings uncertainty.

Foolish takeaway

Avita's sharp rebound this week shows how quickly sentiment can turn when a beaten-down small-cap healthcare stock lands a credible long-term government contract.

The BARDA update clearly improves revenue visibility and gives the market a stronger reason to revisit the recovery outlook.

That said, it is still a small-cap healthcare stock with elevated execution risk, and this week's rally does not change the fact that the shares remain down over the past year.

Personally, this is not the type of stock I would be chasing after a sharp short-term move. I would rather put my money into larger, more established businesses with steadier earnings and less share price volatility.

The post Why this ASX healthcare stock is surging while the market sinks on Middle East fears appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Avita Medical. The Motley Fool Australia has recommended Avita Medical. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Mirvac Group (ASX: MGR) shares are back in the red today, with the property giant slipping to a fresh multi-year low.

This comes as weakness across the real estate sector continues following a global sell-off caused by the Middle East crisis.

In early afternoon trade, the Mirvac share price is down 0.29% to $1.71. Earlier in the session, the stock fell as low as $1.685, marking its weakest intraday level since September 2015.

That leaves Mirvac shares down 20% in 2026, extending what has become a persistent de-rating for the ASX property stock.

Let's take a closer look at what may be keeping pressure.

The rate backdrop is still working against property stocks

Mirvac's latest weakness still appears to be driven more by broader sector conditions.

Listed property stocks remain highly sensitive to interest rate expectations. That pressure has stayed elevated as bond yields remain high and inflation risks continue to cloud the rate outlook.

Mirvac is especially exposed because it spans both residential development and commercial property, with earnings linked to apartment settlements as well as office and retail asset values.

This leaves the stock vulnerable whenever markets push rate cuts further out, or long-term yields move higher.

Its February half-year result was still solid, with operating profit after tax up 5% to $248 million, residential sales rising 38%, and net tangible assets increasing to $2.26 per stapled security. The interim distribution also lifted to 4.7 cents.

Management also reaffirmed FY26 guidance for operating earnings of 12.8 cents to 13 cents per security and distributions of 9.5 cents, supported by expected residential settlements of 2,000 to 2,300 lots.

That suggests the share price weakness is still more about valuation pressure across the REIT sector.

The valuation backdrop is starting to look more interesting

At $1.71, Mirvac is now trading at a notable discount to its latest book value per share of $2.329.

The stock is also offering a trailing yield above 5%, based on annual distributions of 9.2 cents.

That mix of discounted asset backing and income appeal is likely keeping value-focused investors interested, even while price momentum remains weak.

For now, the chart still suggests the market is applying a larger risk premium to office exposure, residential settlements, and businesses closely tied to the path of interest rates.

With the shares now back at levels last seen more than a decade ago, Mirvac is moving back onto the radar for ASX property investors.

The post Mirvac shares sink to their lowest level since 2015. Is this ASX property giant back on the radar? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

AMP Ltd (ASX: AMP) shares are showing some resilience on Friday, holding modest gains despite market sentiment remaining fragile.

At the time of writing, the AMP share price is up 0.53% to $1.317.

AMP shares are still down almost 30% in 2026, making today's gain stand out. The broader market is under fresh geopolitical pressure following developments in the Middle East.

Against that backdrop, AMP's latest update appears to be giving investors enough reason to stay put.

Here's what the market is focusing on.

New CEO sets out the next phase

Today's catalyst was AMP's annual general meeting (AGM) update, which included addresses from Chair Mike Hirst and new CEO Blair Vernon.

The update gave shareholders their first chance to hear directly from Vernon since taking over from Alexis George at the end of March.

His message focused on AMP's progress across wealth, banking, and platforms, while reinforcing the company's existing priorities around growth, productivity, and capital discipline.

That broadly lines up with what The Australian had flagged ahead of the meeting. Investor focus was expected to centre on capital returns, executive pay, and whether the simpler business structure can keep supporting earnings momentum.

In addition, the internal appointment may also be helping settle investors.

Vernon has been with AMP since 2009 and most recently served as Chief Financial Officer before stepping into the top job.

Capital returns still in focus

Capital management was also part of Friday's AGM discussion.

AMP reiterated that its previously announced $150 million on-market share buyback is expected to begin in the coming weeks.

The company also maintained its 4 cents per share full-year dividend guidance, subject to business performance and board approval.

At a share price of $1.317, that still points to a yield a little above 3%, which may be helping the stock hold up on a weaker market day.

The AGM materials also noted that AMP's limited franking balance makes buybacks the preferred way to return excess capital.

Why the shares may be holding up

Friday's modest gain may simply reflect how low expectations had already become.

After falling nearly 30% in 2026, AMP went into the AGM with sentiment already subdued, which means even a small update can be enough to support the share price.

There was no major surprise in the release, but the steady AGM update and capital return focus may be enough to support the shares.

The stock is also still trading below AMP's reported net tangible assets backing of roughly $1.48 per share. This could be helping attract value buyers at current levels.

The post Why this beaten-down ASX financial stock is still finding buyers today appeared first on The Motley Fool Australia.

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• AMP shares charge higher on Monday despite market selloff: What's going on?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Harvey Norman Holdings Ltd (ASX: HVN) shares are back under pressure on Friday, extending what has already been a bruising year for the retail giant.

In early afternoon trade, the Harvey Norman share price is down 3.33% to $4.65. Earlier in the session, the stock slipped to $4.625, marking a fresh 52-week low.

That leaves the stock down roughly 33% since the start of 2026, a sharp de-rating for one of the ASX's best-known retail and dividend names.

The fall has dragged Harvey Norman shares back to late 2024 levels, underlining just how quickly sentiment toward consumer retailers has weakened this year.

So, is the sell-off starting to look overdone?

Selling pressure keeps building

The chart has remained almost one-way for most of 2026.

After starting the year above $7, Harvey Norman shares have steadily trended lower, with each bounce fading into renewed selling. And today's break to a new 52-week low reinforces that momentum remains weak in the near term.

Part of the pressure appears tied to broader concerns around discretionary retail spending, particularly as higher living costs continue to weigh on household budgets.

The market may also be reassessing Harvey Norman's valuation after its strong run through 2025. Back then, investors appeared comfortable paying a premium for its property-backed balance sheet, large fully franked dividends, and offshore growth exposure.

Even after the sell-off, Harvey Norman is still trading on a dividend yield above 6% based on the current share price.

Its latest fully-franked 14.5 cent interim dividend is due to be paid on 1 May.

Broker support suggests upside still exists

Despite the weak price action, not everyone has turned cautious on the retailer.

Earlier this month, Bell Potter retained a buy rating on Harvey Norman with a $6.70 price target. Based on the current share price, that implies potential upside of more than 40% from here.

The broker's positive view appears to rest on a few key pillars. These include the company's large freehold property portfolio, its diversified earnings mix across Australia and international markets, and ongoing store rollout opportunities offshore.

Those factors may be helping some investors look beyond the short-term retail slowdown.

Foolish Takeaway

Harvey Norman shares are now deep in correction territory, with the stock heavily down this year.

Despite weak momentum, the stock's property backing, strong yield, and broker upside could keep value investors interested.

Right now, Harvey Norman looks like a stock caught between weak sentiment and a valuation that is starting to look more reasonable.

The post Harvey Norman just hit a 52-week low. Is this beaten-down ASX retailer becoming too cheap to ignore? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Harvey Norman. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Fortescue Ltd (ASX: FMG) shares are under slight pressure on Friday after the miner detailed the next stage of its Pilbara renewable rollout.

In morning trade, the Fortescue share price is down a modest 1.56% to $20.21.

Despite the dip, its 12-month gain sits at 35%, with the stock still well above where it traded this time last year.

Even with the shares easing today, the latest ASX announcement outlines plans to accelerate what it says is the world's first replicable large-scale heavy industry green grid.

Let's take a closer look at the release.

Fortescue brings forward giant Pilbara green grid rollout

The latest update is centred on Fortescue's Pilbara operations, where it is moving faster on the rollout of an integrated renewable energy network. The goal is to replace diesel across some of its biggest mining assets.

Management said the system is expected to reach 290MW of installed renewable capacity by the end of this year, enough to power daytime "green processing" at its Pilbara iron ore facilities.

Later this year, the company expects the grid to run parts of its operations for 24-hour periods without fossil fuels, a milestone that moves its 'Real Zero' strategy ahead of the previously targeted December 2030 timeline.

By the end of 2028, Fortescue said the Pilbara network is expected to scale to 1.2GW of solar, more than 600MW of wind generation, and 4 to 5GWh of battery storage.

The company also said the wider profitable decarbonisation program is now targeting around 2GW of generation capacity, with future expansion phases potentially delivered over an 18-month period.

This includes electrification across fixed plant operations, AI-driven iron ore processing infrastructure, rail and port logistics, and on-site accommodation supporting around 10,000 workers.

Why investors may be looking beyond iron ore

Investors seem to be looking at what this project could mean beyond lower emissions.

Fortescue expects the first deployment phase to remove around US$100 million in fossil fuel costs next year. It is also anticipating site unit costs falling by at least US$2 to US$4 per metric tonne.

Management said the technology stack, battery systems, AI optimisation tools, and rollout model are all being designed to be replicable and licensable globally.

That gives investors a better sense of how this could become a second business alongside iron ore, which remains its biggest money maker.

Foolish bottom line

I think this is another positive step for Fortescue. The company is still using its iron ore business to fund growth, while also building out a second area through large-scale energy projects.

To me, that looks like the right direction for the long term. It adds diversification beyond iron ore. I think holding a sensible portion of shares in Fortescue could be a solid investment for investors comfortable with the ups and downs of commodity prices.

The post Fortescue shares ease, but this major update could keep momentum building appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Megaport Ltd (ASX: MP1) shares are once again testing investor conviction.

The ASX tech stock has been one of the market's biggest de-ratings in 2026, with Thursday's sell-off dragging the shares back to levels last seen in January 2025.

In afternoon trade, the Megaport share price is down 7.40% to $6.88 after touching a fresh 52-week low of $6.80 earlier in the session.

That leaves the stock down around 43% year to date, despite the company continuing to deliver double-digit revenue growth and improving EBITDA margins.

The disconnect shows investors are paying more attention to valuation and earnings momentum than revenue growth alone.

With the previous $7 support level now giving way, the chart is starting to reflect a broader reset in how investors are pricing tech businesses.

The key question now is whether the sell-off is nearing exhaustion or if weak momentum still has further to run.

Momentum remains negative

From a technical view, the chart still points to ongoing selling pressure.

Megaport shares have been making a clear pattern of lower highs and lower lows since peaking above $17 late last year. The latest move to $6.80 only reinforces that downtrend.

The relative strength index (RSI) has slipped to around 38. While that is not yet deeply oversold, it still suggests buying interest remains weak.

The MACD also remains negative, with the shorter-term trend line continuing to sit below the longer-term signal line.

A decisive break below the $6.80 low could leave the next support near the psychological $6 level. On any rebound, the stock may first face resistance in the prior breakdown zone between $7.50 and $8.

Strong growth, but the market wants more

The weakness in the stock stands out because Megaport's recent half-year numbers still showed solid operating momentum.

Revenue rose 26% to $134.9 million in the first half of FY26, while EBITDA increased 28% to a record $35.3 million.

Network annual recurring revenue rose 16%, while net revenue retention came in at 111%, highlighting continued expansion across its customer base.

Even so, the market reaction since its February update suggests investors are still focused on valuation and margin progression. The other key issue is whether the company can maintain this pace through the second half.

Megaport's updated FY26 guidance points to revenue of $302 million to $317 million and EBITDA margins of 21% to 24%. Keep in mind, this still implies healthy momentum but may not yet be enough to improve sentiment.

Foolish Takeaway

Megaport is still delivering solid growth, but the share price is clearly being driven by weak momentum.

A 43% fall this year, fresh 52-week lows, and soft technical indicators suggest the market still needs to see more before sentiment improves.

At this point in time, the chart signal is still the clearest guide, and it continues to point lower.

The post Down 43% this year, this ASX tech stock is now back at January 2025 levels appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Zip Co Ltd (ASX: ZIP) shares are falling on Thursday, giving back a big chunk of the gains from yesterday's huge rally.

In afternoon trade, the Zip share price is down 9.40% to $1.808.

That leaves the ASX fintech stock down roughly 45% in 2026, despite yesterday's massive 19.46% jump to $1.995.

The strong gain on Wednesday came after Iran agreed to a temporary ceasefire with the US and Israel, which helped lift confidence across the broader share market.

Growth shares such as Zip were among the biggest winners from that improved mood.

But by today, that optimism has already faded.

Why Zip shares are falling today

The recent weakness comes as fresh Middle East developments again weigh on risk appetite across the share market.

Reports of Israeli attacks in Lebanon have raised doubts over how long the temporary ceasefire can last, reversing much of the confidence that drove yesterday's rebound.

As a higher-growth fintech stock, Zip often sees larger swings when investors move away from riskier parts of the market and into more defensive areas.

The S&P/ASX 200 Information Technology Index (ASX: XIJ) has also come under pressure again today, down 6.93%, which has added to weakness across local tech shares.

That backdrop helps explain why Zip has gone from a near 20% rally yesterday to a fall of close to 10% today. And this is even without any company-specific update driving the move.

Big swings are nothing new for Zip

This kind of volatility has become a regular feature for Zip shares.

The stock has been moving wildly for months as investors respond to changing views on interest rates, consumer spending, and now the Middle East war.

Even before this week's geopolitical developments, Zip had already seen some large moves.

Its half-year results in February triggered a big share price drop, despite the company reporting strong earnings growth and continued momentum in the US business.

Since then, the stock has regularly bounced hard on good news, only to pull back again when market nerves return.

This week's price action is another example of just how quickly the market's view on Zip can change.

Foolish Takeaway

Zip is clearly capable of delivering huge short-term moves, but that level of volatility would make it too unpredictable for my own portfolio.

While the growth story still has appeal, I would rather focus on more stable businesses that are also delivering solid earnings growth without the same headline-driven swings.

For me, there are simply better risk-reward opportunities elsewhere on the ASX.

The post Zip shares plunge again after yesterday's 19% surge. Here's what changed appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Tamboran Resources Corporation (ASX: TBN) shares are tumbling on Thursday after returning from a trading halt.

In early afternoon trade, the Tamboran share price is down a massive 17.46% to 26 cents, following a major funding update.

The move stands out even more given the stock remains up 60% over the past 12 months, driven by rising confidence in its Beetaloo Basin gas plans.

Today's sell-off suggests investors are weighing the dilution from the capital raise against the company's next phase of growth.

Let's take a closer look.

Big capital raise completed as trading resumes

According to the release, Tamboran has completed the US public offer and institutional entitlement component of its latest equity raise.

The company secured gross proceeds of US$103 million from the underwritten public offer, equivalent to roughly $147.1 million. This was alongside a further $86 million through the institutional entitlement offer.

That lifts funds already locked in to about $233 million, with the retail entitlement offer still to come. Eligible retail holders can subscribe for 1 new CDI for every 20 held at 25 cents each, with the offer closing on 27 April.

With the new CDIs priced well below the last traded price of 31.5 cents before the halt, the market now has a clear short-term pricing reference.

Tamboran said the proceeds will be used to fund additional drilling in the Pilot Area and drilling in EP 161. Funds will also go toward further resource delineation across the Orion acreage and Beetaloo Central Development Area, as well as working capital and general corporate purposes.

Management says Beetaloo buildout is accelerating

Chief Executive Officer Joel Riddle said the raise supports what is expected to be the company's busiest development phase yet.

Management said the funds should support Beetaloo Basin operations through to 2028, including lifting capacity above the contracted 40 terajoules a day.

The company also said first gas sales remain targeted for the September quarter of 2026, alongside continued appraisal work across its acreage.

That gives investors a clearer view of what the dilution is funding and which commercial milestones are coming next.

Foolish Takeaway

The discounted raising appears to be the main reason for the sell-off, though broader market weakness is also adding pressure today.

A discounted raising of this size will often weigh on the share price in the short term, especially after such a strong 12-month run.

Even after the 17% drop, Tamboran remains up 60% over the past year, which shows investors are still backing the Beetaloo growth opportunity.

The next thing to watch is whether the newly funded drilling program can keep first gas timelines and development momentum on track.

The post Why this ASX energy stock just crashed 17% after a blockbuster year appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Alkane Resources Ltd (ASX: ALK) shares are edging higher on Thursday after the gold and antimony producer released a market update.

In early afternoon trade, the Alkane share price is up 3.20% to $1.775.

That leaves the stock up more than 180% over the past 12 months, lifting its market capitalisation to roughly $2.43 billion.

The modest gain still stands out on a softer market day, with the S&P/ASX 200 Index (ASX: XJO) down 0.1% to 8,951 points.

Let's take a closer look at what was announced today.

Strong quarter keeps full-year guidance on track

In its March quarter production update, Alkane produced 45,776 ounces of gold equivalent during the 3 months to 31 March.

That included 44,669 ounces of gold and 377 tonnes of antimony across its 3 operating mines, Tomingley in New South Wales, Costerfield in Victoria, and Bjorkdal in Sweden.

Sales for the quarter came in at 43,373 gold equivalent ounces, made up of 42,550 ounces of gold and 280 tonnes of antimony.

The balance sheet also strengthened over the period.

Cash, bullion, and listed investments finished the quarter at $374 million, up $128 million from the prior quarter. Total liquidity rises to $472 million when including its undrawn $110 million revolving credit facility expected in June.

Management also reaffirmed FY2026 production guidance of 160,000 to 175,000 gold equivalent ounces. Furthermore, all-in sustaining costs (AISC) were unchanged at $2,600 to $2,900 per ounce.

Management commentary

Managing director and CEO Nic Earner said:

Alkane has had an excellent quarter's production from our three operating mines…

He also added:

We have a very strong balance sheet with A$374 million in cash, bullion and listed investments at quarter end and total liquidity of $472 million including undrawn revolving credit facility.

That balance sheet growth is likely to remain a key focus for investors given the stock's strong rerating over the past year.

The combination of solid mine performance, stable cost guidance, and rising liquidity continues to support sentiment.

Foolish takeaway

Alkane still looks like one of the ASX gold sector's stronger momentum stocks. Rising production and a much larger cash position continue to support the rally.

With the stock now valued at around $2.43 billion and still tracking within FY2026 guidance, the latest update gives investors another reason to stay positive.

After gaining more than 180% over the past year, the latest quarter suggests the rally is still being supported by operating performance.

The post Up 180% in a year, this ASX gold stock climbs again appeared first on The Motley Fool Australia.

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• These two ASX gold shares just crashed – should investors swoop in?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

A broad ASX sell-off on Thursday has not stopped Transurban Group Ltd (ASX: TCL) from pushing higher.

While renewed Middle East tensions and fresh Strait of Hormuz disruption fears have weighed on market sentiment, Transurban shares are edging 0.29% higher to $13.94 in morning trade.

The move follows the toll road operator's March quarter update, which showed continued traffic growth across its key regions, led by Brisbane, Melbourne, and North America.

Even so, the stock is up only about 3% over the past 12 months, making today's performance stand out a little more.

With oil market risks again lifting inflation concerns, defensive businesses with visible cash flow and CPI-linked pricing are finding support.

Here's what was announced.

Traffic growth remains broad across the network

Transurban's latest quarterly result showed steady momentum across most of its major toll road markets.

Group average daily traffic (ADT) rose 3% over the prior corresponding period, with Brisbane leading the growth profile at 5.2%. The result was helped by a softer comparison base after Tropical Cyclone Alfred disrupted traffic volumes in March last year.

Melbourne also delivered a strong contribution, with ADT up 3.8% as the West Gate Tunnel continued to add traffic following its December 2025 opening.

North America remained another key driver, where traffic increased 7.9% as the 495 Northern Extension and Express Lanes kept ramping up.

The only softer patch was Sydney. Traffic growth there was limited to 0.6% due to ongoing disruption tied to construction works around the Warringah Freeway upgrade. Management noted this should improve through the June quarter as more lanes progressively open.

Looking across the full financial year-to-date, group traffic is now running 3.6% ahead of the prior period. This continued growth highlights the resilience of Transurban's urban transport network despite the weaker macro backdrop and recent market volatility.

Defensive earnings are back in focus

The modest gain suggests the market is seeing the quarterly update as steady and broadly in line with expectations.

Transurban is still valued for its reliable cash flow, long-life concession assets, and toll pricing that is mostly linked to CPI or fixed annual increases.

That business model is helping the stock hold up today as the wider ASX weakens on the risk of higher oil prices adding to inflation pressure.

That helps explain why Transurban is staying in positive territory while the broader ASX comes under pressure.

With a market capitalisation of roughly $43.4 billion, it remains one of the ASX's largest listed infrastructure stocks.

The post This ASX 200 giant is rising while the market sells off. Here's why appeared first on The Motley Fool Australia.

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• Transurban Group March quarter 2026: Traffic rises across key toll roads

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has positions in and has recommended Transurban Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Lynas Rare Earths Ltd (ASX: LYC) is fast becoming one of the ASX's most important strategic companies.

After surging 5.57% to $21.43 on Wednesday, the rare earths producer is now trading within touching distance of its 52-week high of $21.96. That peak was reached in October last year, highlighting the strength of the stock's recent momentum.

The move leaves Lynas valued at about $21.6 billion, with the share price up close to 179% over the past 12 months.

Much of that strength reflects growing investor focus on supply chain security and China's grip on critical minerals.

As heavy rare earths become a bigger geopolitical issue, Lynas' non-China processing capability is gaining strategic value.

Here's why the market may not be done with the rally yet.

Why investors are watching Lynas closely

Supply security is becoming the key issue for the market.

China still dominates global heavy rare earths processing, particularly for materials such as dysprosium and terbium. These are essential for electric vehicles, wind turbines, semiconductors, fighter jets, missile systems, and advanced electronics.

Recent commentary around Pentagon supply chain deadlines and China's export restrictions has put the spotlight on the limited number of companies capable of processing these materials outside China, with Lynas among the best placed to benefit.

The company's Malaysia processing facility is widely regarded as the largest commercial heavy rare earths separation facility outside China. It is also one of the only scaled operations capable of producing separated heavy rare earth oxides for Western customers.

That marks a major strategic shift because heavy rare earths separation has historically been almost fully controlled by China.

Lynas remains the only major commercial-scale heavy rare earths separator outside China, with production centred at its upgraded Malaysia facility.

Why the world can't function without rare earths

Rare earths are now essential to modern industry.

They are critical to the permanent magnets used across advanced manufacturing, defence systems, AI infrastructure, and the global energy transition. In many applications, there are still no practical substitutes that offer the same performance and durability.

If China further tightens supply, Western manufacturers could face serious shortages across defence, clean energy, and advanced manufacturing. That could slow production, raise costs, and accelerate the push toward reliable Western suppliers.

Foolish Takeaway

Lynas stands out because its relevance goes well beyond short-term commodity price swings. Its value lies in owning processing capability that is difficult to replicate, globally scarce, and likely to stay highly important for years.

Scarcity, scale, and geopolitical relevance continue to make Lynas a compelling stock to hold through market cycles as part of a diversified portfolio.

The post Why Lynas could be one of the ASX's biggest winners again today appeared first on The Motley Fool Australia.

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• Buy, hold, sell: What this leading broker is saying about Lynas shares

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Lynas Rare Earths Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

After already delivering a standout 12-month run, Cogstate Ltd (ASX: CGS) shares are back in the green on Wednesday.

The gain follows a quarterly business update that highlighted continued strength in clinical trial contract activity and improving future revenue visibility.

In afternoon trade, the stock is changing hands at $2.30, up 7.48%.

That brings the company's market capitalisation to roughly $393 million and extends its 12-month gain to just over 70%.

Let's take a closer look at what was announced.

Sales contracts keep building in FY26

According to its third-quarter business update, Cogstate executed US$25.4 million in sales contracts during the March quarter.

That brings total sales contracts executed over the first 9 months of FY26 to US$67.1 million. That is well ahead of the US$41.3 million recorded over the same period a year earlier.

It also marked the company's strongest March quarter contract result in recent years. The result extends the momentum seen in the first-half as demand broadened across its central nervous system (CNS) trial work.

Another closely watched metric is contracted future revenue.

Cogstate said FY26 revenue under contract had risen to US$67.1 million as at 31 March, up from US$53.1 million at 31 December.

Within that, revenue already locked in for the June quarter increased to US$35.6 million, compared with US$27 million previously.

Broader trial demand is supporting confidence

The latest update reinforces the strength of the company's clinical trials pipeline rather than pointing to a one-off contract win.

Cogstate's technology is used by pharmaceutical and biotech groups running CNS-focused trials, including Alzheimer's disease, mood disorders, sleep conditions, and other neurological programs.

The business has increasingly benefited from a broader mix of trial work outside Alzheimer's. Investors appear to favour this because it improves diversification and reduces reliance on any single drug development cycle.

With the stock still below its 52-week high of $2.97, today's gain suggests investors are responding to improving revenue visibility.

Foolish Takeaway

I believe Cogstate remains a stock worth buying and holding for the long term, particularly as revenue certainty continues improving.

The steady lift in sales contracts and stronger revenue already locked in for the June quarter both support a more reliable earnings outlook. Broader demand beyond Alzheimer's also points to a business generating steadier revenue over time, which could be a major win for shareholders.

After a 70% gain over the past year, the latest update supports the market view that Cogstate's longer-term growth outlook remains very attractive.

The post This ASX healthcare stock is up 70% in a year and climbing again today appeared first on The Motley Fool Australia.

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• Are Cogsgate shares a buy, hold or sell after rocketing 12% higher yesterday?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cogstate. The Motley Fool Australia has positions in and has recommended Cogstate. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Firefly Metals Ltd (ASX: FFM) shares are flying higher on Wednesday.

This comes after the copper-gold developer released another standout drilling update from its Green Bay project in Canada.

In afternoon trade, the Firefly share price is up 18.95% to $2.04, after pushing above the psychological $2 barrier during midday. That leaves it not far below its 52-week high of $2.30.

That extends an already huge 12-month run, with the stock now up 176% over the past year.

Let's take a closer look at what was announced.

Another strong step-up in Green Bay confidence

According to today's ASX update, Firefly's latest underground drilling has again confirmed strong continuity within the high-grade Core Zone at the Ming deposit.

The standout intercept was 70.8 metres at 4% copper equivalent, including 19.2 metres at 7.5% copper equivalent.

A second hole returned 53.3 metres at 4.1% copper equivalent, including 18.2 metres at 5.8% copper equivalent.

The latest results continue to improve confidence in the scale and consistency of the higher-grade section of the orebody ahead of economic studies expected in mid-2026.

That remains a major focus because the current Green Bay resource already totals 50.4 million tonnes at 2% copper equivalent in measured and indicated categories.

It also includes another 29.3 million tonnes at 2.5% copper equivalent in inferred resources.

Why investors are buying the update

The strong share price move appears to reflect more than just another solid drill result.

The market is increasingly focused on the quality of the Core Zone, which could become an attractive early mining area thanks to its grade and continuity.

Today's release also noted that economic and technical studies tied to a larger copper-gold restart remain on track for mid-2026.

At the same time, Firefly remains well funded, ending December with roughly $251 million in cash and liquid investments.

The high-grade Core Zone is also close to existing underground infrastructure, which could improve restart economics and shorten the pathway to first production.

Foolish Takeaway

Firefly's latest Green Bay results continue to show that its high-grade core could support attractive early mine economics.

With the stock now valued at roughly $1.56 billion and still delivering strong drilling momentum, attention is now turning to the mid-2026 economic studies as the next major catalyst.

The company's strong cash position also gives it the flexibility to continue drilling aggressively while advancing restart studies.

After a 176% gain over the past year, the latest rally shows investors are still backing further resource growth at Green Bay.

The post This ASX mining stock just jumped 19% on a huge drilling result appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Regis Resources Ltd (ASX: RRL) shares are racing higher on Wednesday after the gold miner released another strong quarterly cash and bullion update.

In mid-afternoon trade, the Regis share price is up 7.66% to $7.375, after opening at $7.25 and reaching an intraday high of $7.42.

The move lifts the gold stock's 12-month gain to roughly 74%, continuing a strong run that has made it one of the ASX gold sector's standout performers.

Based on the current share price, Regis' market capitalisation now sits around $5.58 billion.

The rally comes after a fresh ASX release showed another major increase in cash and bullion holdings. Gold prices also climbed back toward record levels overnight as safe-haven demand strengthened.

Another $198 million added to the balance sheet

The main catalyst was Regis' March quarter production and balance sheet update.

The company reported total group gold production of 90.6k ounces for the quarter, taking FY26 year-to-date production to 277.5k ounces.

Duketon contributed 57.5k ounces, and Tropicana delivered 33.1k ounces on an attributable basis, leaving the miner comfortably on track to meet full-year production guidance.

The bigger focus, however, was cash generation.

Regis revealed that cash and bullion increased by $198 million during the quarter, even after making a $92 million FY25 tax payment in February.

That lifted total cash and bullion holdings to $1.128 billion as at 31 March.

Gold strength supports the rally

The market reaction was also helped by another strong move in bullion overnight.

Gold prices climbed back above US$4,790 an ounce, with market data showing the yellow metal rising almost 2% as investors moved back into safe-haven assets. That leaves bullion up more than 55% over the past year.

As an unhedged producer, Regis gets the full benefit of stronger spot prices through margins and free cash flow, which is now feeding into its balance sheet.

The company also said there has been no material impact from broader fuel supply uncertainty across Australia. It is still watching costs and supply chains closely ahead of its full quarterly report later this month.

Foolish Takeaway

Regis is increasingly standing out as one of the ASX gold sector's strongest cash generators.

A $1.128 billion cash and bullion balance, zero direct hedge exposure, and another lift in bullion prices are helping keep the stock in focus.

After a 74% gain over the past year, this latest update shows how strongly Regis is benefiting from higher gold prices and a growing cash balance.

The post ASX 200 share leaps 8% as gold rally drives cash pile past $1.1 billion appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

DroneShield Ltd (ASX: DRO) shares are being hit hard on Wednesday, with the sell-off going beyond a routine leadership change.

In afternoon trade, the DroneShield share price is down a sizeable 17.29% to $3.30, after falling as low as $3.20 earlier in the session.

That is a brutal one-day move, especially with the S&P/ASX 200 Index (ASX: XJO) pushing 2.6% higher.

Even so, the defence technology stock remains up almost 280% over the past 12 months. That helps explain why some investors may be quick to lock in gains when uncertainty re-emerges.

Let's take a look at what's driving the weak sentiment.

Investors are focusing on trust, not the transition

According to the ASX announcement, DroneShield CEO Oleg Vornik has stepped down effective immediately after more than a decade leading the business.

In addition, chairman Peter James will retire and not seek re-election at May's Annual General Meeting (AGM).

Chief product officer Angus Bean has been elevated to chief executive, and former REA Group chair Hamish McLennan will join as chairman-elect.

While the leadership changes look orderly on paper, the market's attention has quickly shifted back to the controversial November selldown. At that time, Vornik, James, and another director sold a combined $70 million in shares.

The selldown triggered a major collapse in the stock that month and left lingering concerns around governance and board oversight.

With the stock having staged such a strong recovery since then, today's leadership exits appear to have brought those concerns back into focus.

Strong quarterly growth was not enough

The weaker move stands out because DroneShield paired the leadership update with another strong trading result.

The company reported March quarter revenue of $63 million, up 87% year-on-year, alongside record quarterly cash receipts of $77 million, up 361%.

It also said it already has $140 million in committed FY26 revenue just 3 months into the financial year.

Under normal conditions, those numbers would likely have supported buying interest.

Instead, the market appears more focused on the boardroom reset and the lingering fallout from last year's insider selldown.

That reaction comes even as Vornik described his time leading DroneShield as "the experience of a lifetime". He said he was proud to have helped build the company from a $27 million IPO into an ASX 200 defence technology business valued in the billions.

The contrast between record operating momentum and renewed leadership uncertainty appears to be keeping sellers in control. Some investors may also be using the weakness to lock in gains after the stock's huge 12-month run.

Foolish takeaway

DroneShield remains one of the ASX's standout momentum stocks, still valued at about $3.1 billion after today's decline.

The latest quarterly numbers show the business is still delivering exceptional growth, but leadership turnover and the overhang from last year's insider selldown have clearly unsettled sentiment.

After a 280% rally over the past 12 months, today's sell-off suggests investors are waiting for confidence in the new leadership team to improve.

The post DroneShield shares tumble 17% as CEO exit revives leadership fears appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield and is short shares of DroneShield. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Greatland Resources Ltd (ASX: GGP) shares are racing higher on Wednesday after the gold and copper miner delivered another strong quarterly production update.

In afternoon trade, the Greatland share price is up 10.63% to $14.78, after earlier surging to a new all-time high of $15.25 before some profit-taking trimmed the gain.

Even after pulling back from the session peak, the stock is still up roughly 40% in 2026 and more than 120% over the past 12 months.

Let's dive right into what was announced today.

Cash pile tops $1 billion after another strong quarter

According to its March 2026 quarter production update, Greatland produced 82,723 ounces of gold and 4,128 tonnes of copper from Telfer.

Sales were even stronger at 97,800 ounces of gold and 4,620 tonnes of copper, helping drive another big lift in cash generation.

Management revealed its cash balance climbed to $1.208 billion at 31 March, up from $948 million at the end of December. That means the business added $260 million in cash during the quarter, despite capital expenditure and a $73 million tax payment linked to the Telfer acquisition.

The company also remains debt-free, leaving it in a strong position as it continues development work across the wider Paterson region.

One point likely helping sentiment is that management said Telfer remains insulated from the current Middle East conflict's effect on fuel supply.

Diesel is sourced under a long-term contract via Port Hedland, while processing power comes from Pilbara natural gas infrastructure.

With gold prices still trading near record levels, that operating stability may be giving investors more confidence in near-term earnings visibility.

Production guidance still points to a strong FY26 finish

Greatland said current production is tracking slightly above the upper end of its FY26 guidance range of 260,000 ounces to 310,000 ounces of gold.

That's a strong signal heading into the final quarter of the financial year and helps explain why buyers pushed the stock to fresh highs in today's session.

The March quarter update also follows a strong first-half result released in February, when the miner reported revenue of $977.3 million and net profit after tax of $342.9 million.

With a market capitalisation now approaching $10 billion, Greatland is quickly cementing its place among the ASX's major gold names.

The stock currently ranks 60th on the ASX by size.

Foolish Takeaway

I think gold prices could be the next major catalyst for another leg higher in Greatland shares.

The company is already generating strong cash flow from Telfer, and today's update showed production is tracking above FY26 guidance. If gold prices stay near record highs, that leverage could translate into even stronger cash generation.

With more than $1.2 billion in cash, no debt, and growing exposure to Havieron, I believe Greatland still has room to climb from here.

The post Why Greatland shares just hit a record high after a $260 million cash jump appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Neuren Pharmaceuticals Ltd (ASX: NEU) shares are back in focus on Wednesday.

This comes after the biotech company announced a new commercial milestone for its lead Rett syndrome therapy.

In early afternoon trade, the Neuren share price is up 6.75% to $13.13. By comparison, the S&P/ASX 200 Index (ASX: XJO) is rocketing 2.6% higher to 8,957 points.

Today's rise stands out because the stock is still down roughly 30% since the start of 2026.

Let's take a closer look at the release.

DAYBUE STIX rollout reaches the next stage

The catalyst for Wednesday's gain is a fresh commercial milestone from ACADIA Pharmaceuticals Inc (NASDAQ: ACAD), Neuren's US partner for DAYBUE.

According to the release, DAYBUE STIX is now broadly available across the United States for patients with Rett syndrome.

The new powder formulation was approved by the US Food and Drug Administration (FDA) in December and first launched on a limited basis during the March quarter.

This update confirms the rollout has now moved into wider commercial distribution, giving more patients and caregivers access to the therapy.

The new formulation gives families more flexibility because it can be mixed with water-based liquids, making it easier to adjust taste and dose volume.

Management also pointed to encouraging early caregiver feedback from the limited launch, with more than 80% of surveyed users reporting satisfaction.

Broader rollout supports the royalty outlook

Neuren receives royalties on all global net sales of trofinetide under its licensing agreement with Acadia. As a result, commercial rollout milestones usually have a direct impact on the share price.

At its FY25 result, the company reported royalty income of $65 million and guided to a further lift in 2026 as DAYBUE sales continue to expand.

Acadia's 2026 guidance previously pointed to DAYBUE net sales of US$460 million to US$490 million, which implies another year of solid revenue growth for Neuren.

With a market capitalisation of roughly $1.56 billion, the stock remains well below the peaks seen in 2025.

Foolish Takeaway

Neuren's latest gain follows broader US access to DAYBUE STIX, a rollout step that could support patient growth and future royalties.

Based on the company's strong February result and Acadia's 2026 sales guidance, I still see Neuren as one of the more compelling ASX biotech investments.

The combination of DAYBUE revenue growth and progress across the NNZ-2591 pipeline continues to reinforce the long-term opportunity.

After a difficult start to 2026, today's move may be an early sign that confidence is rebuilding around the company's revenue outlook.

The post Why Neuren shares are rebounding on Wednesday after a brutal 2026 sell-off appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Santos Ltd (ASX: STO) shares are under pressure on Wednesday, even after the energy giant delivered another positive operational update.

In morning trade, the Santos share price is down 5.44% to $7.65, after falling as low as $7.47 shortly after market open.

Even after today's pullback, the stock remains up roughly 24% since the start of 2026, reflecting what has still been a strong run.

Today's announcement highlighted another successful Alaska appraisal result, while also showing that two of Santos' biggest production projects remain on track.

Here's what the market is watching.

Alaska appraisal adds more momentum

According to the release, Santos has successfully completed the Quokka-1 appraisal well in Alaska's North Slope.

The well encountered a high-quality reservoir with 143 feet of net oil pay in the Nanushuk formation and delivered a strong flow rate of 2,190 barrels of oil per day during testing.

Management said the result further confirms the quality and scale of the Quokka resource, which sits close to the company's existing Pikka development.

Santos now expects the Quokka discovery could support a two-drillsite development comparable in size to Pikka phase 1, with contingent resource estimates and further appraisal work due during FY26.

Chief Executive Kevin Gallagher said the result further supports Santos' Alaska growth outlook.

He added:

The Quokka-1 results demonstrate the exceptional quality of the Nanushuk reservoir and confirm our geological assessment of this significant accumulation.

Pikka and Barossa updates support the bigger picture

The announcement also included progress updates on Santos' two major near-term production catalysts.

At Pikka phase 1, the project is now moving through its final commissioning stages.

The company said mechanical completion of commissioning activities is progressing well, fuel gas has been introduced to the plant, and first oil is expected in the coming weeks.

Santos is still targeting plateau production of 80,000 barrels per day by mid 2026.

Meanwhile, the Barossa LNG project continues moving toward full rates after recent commissioning constraints linked to the floating production storage and offloading vessel.

Santos said dry gas sales have already begun, with production restart expected around 18 April.

Together, these projects are expected to drive a significant lift in Santos' production across 2026 and 2027.

Earlier this year, Reuters reported that once Barossa LNG and Pikka phase 1 reach full rates, they could lift Santos' production by around 25% to 30% by 2027 compared with 2024 levels.

With a market capitalisation of about $24.9 billion, Santos remains one of the ASX energy sector's largest companies.

The post Santos shares sink 5% despite another strong Alaska result appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.