What did Chalice Mining report?

• Cash and listed investments of $58.9 million as at 30 June 2026
• Feasibility Study for Gonneville Palladium-Nickel-Copper Project advancing; pilot plant to commence in Q3 CY26
• Pre-Feasibility Study supports a two-stage, 23-year open-pit mine with projected annual output of 220,000oz 3E (palladium, platinum, gold), 7kt nickel, and 8kt copper
• Sustained exploration activity, including a new copper–rare earth target at Deep Blue (WA) and preparations for major drilling in NT and SA
• Second phase of community and stakeholder engagement on infrastructure routes underway
• Ongoing engagement with potential financiers and commercial partners, with an updated funding strategy focused on byproduct streams, offtake-linked finance, and strategic investment

What else do investors need to know?

Chalice Mining continued to add depth to its team with the appointments of Paul De Ponte as Project Director for Gonneville and Tim Langmead as General Manager Corporate Affairs during the quarter. The company also brought on Odin Partnership Limited as strategic advisor to assist with project development and financing.

On the exploration front, Chalice made headway at several projects, notably the Deep Blue prospect in WA, where rock chip sampling returned up to 19.3% TREO and evidence of high-value magnet rare earths. Grants of new licences in the NT and SA enabled preparations for upcoming RC drilling campaigns. Across these activities, Chalice invested around $1.3 million in exploration during the quarter.

What's next for Chalice Mining?

Looking ahead, Chalice is aiming to complete its Gonneville Feasibility Study in the second half of 2027, with offtake agreements and funding to follow. A final investment decision is targeted for the first half of 2028, pending successful environmental approvals and finalisation of all key project workstreams.

Exploration will remain active, with drilling at the Deep Blue, Warrego North, and Callabonna JV projects planned for the September quarter. The company's strong balance sheet is expected to support ongoing project development and exploration activities through to FID.

Chalice Mining share price snapshot

Over the past 12 months, Chalice Mining shares have declined 34%, trailing the All Ordinaries Index (ASX: XAO), which has risen 1% over the same period.

View Original Announcement

The post Chalice Mining advances Gonneville, holds $59m cash at June 2026 appeared first on The Motley Fool Australia.

That's because if the broker is on the money with its recommendation, this speculative ASX share could more than triple in value.

Which ASX share could be cheap?

Bell Potter is tipping Chalice Mining Ltd (ASX: CHN) shares to rocket from current levels.

The broker was pleased to see the company continuing to progress its 100%-owned Gonneville Pd-Ni-Cu Project in Western Australia.

It notes that Gonneville has emerged as the largest and lowest cost undeveloped palladium-nickel-copper reserve in the western world and a globally significant strategic minerals asset.

Commenting on recent work, it said:

Multiple workstreams are underway for the completion of the Gonneville Feasibility Study, which has a budget of $25m and is due for completion in 2HCY27. Ongoing activities include: a comprehensive 8-week pilot plant operation program to test the process route design; permitting and approvals, including the Environmental Review Documents (ERD) submission in 2HCY26; the investigation of multiple secondary funding options including with potential offtake partners.

CHN is also assessing strategic partnership and investment opportunities with several parties having commenced due diligence. Early indications on project financing are that up to 60- 70% of pre-production CAPEX could be funded with debt, including from sovereign/govt sources, due to the long-life, low cost and strategic nature of Gonneville.

Huge potential returns

According to the note, Bell Potter has retained its speculative buy rating and $4.00 price target on the ASX share.

Based on its current share price of $1.15, this implies potential upside of approximately 250% for investors over the next 12 months.

To put that into context, a $2,500 investment would be worth $8,750 by this time next year if Bell Potter has made the correct call.

Commenting on its buy thesis, the broker said:

CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes. CHN is sufficiently funded to reach FID in 1HCY28. We retain our Speculative Buy recommendation on an unchanged Valuation of $4.00/sh.

The post Bell Potter says this cheap ASX share could rise almost 250% in just 12 months appeared first on The Motley Fool Australia.

Will the market be able to build on this on Friday and end the week on a high? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to rise on Friday despite a mixed night of trade in the United States. According to the latest SPI futures, the ASX 200 is expected to open 52 points or 0.6% higher this morning. On Wall Street, the Dow Jones was up 2.15%, but the S&P 500 was flat and the Nasdaq fell 0.8%.

Oil prices fall

ASX 200 energy shares Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could have a poor finish to the week after oil prices fell again overnight. According to Bloomberg, the WTI crude oil price is down 0.7% to US$68.10 a barrel and the Brent crude oil price is down 0.6% to US$71.13 a barrel. US-Iran peace deal optimism has weighed on oil prices.

Buy Netwealth shares

Bell Potter thinks Netwealth Group Ltd (ASX: NWL) shares are undervalued. This morning, the broker has retained its buy rating and $30.00 price target on the investment platform provider's shares. This implies potential upside of approximately 38%. It said: "Our Buy recommendation is unchanged. NWL no longer trades as a leveraged play on financial markets, which is interesting. Given its increased scale, we would expect the opposite, with free carry having a bigger impact than flows. A shift back into global growth assets should also be supportive."

Gold price rises

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Newmont Corporation (ASX: NEM) could have a good finish to the week after the gold price charged higher overnight. According to CNBC, the gold futures price is up 1.1% to US$4,126.1 an ounce. This was driven by the release of US payrolls data, which the market appears to believe wasn't supportive of interest rate hikes.

Buy Chalice shares

Bell Potter has also recommended Chalice Mining Ltd (ASX: CHN) shares this morning. According to the note, the broker has reaffirmed its speculative buy rating and $4.00 price target on the mineral exploration company's shares. It said: "CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes. CHN is sufficiently funded to reach FID in 1HCY28."

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back today are listed below. Here's why they are storming higher:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is up 5% to $1.56. This may be a delayed reaction to the release of a promising announcement from the mineral exploration company on Thursday. Chalice Mining reported significant new results from rock chip sampling and ground geophysics at the recently defined Deep Blue Copper-Molybdenum-Silver-Rare Earth Element (REE) target. It highlights that "highly anomalous Cu-REE results in rock chips [were] taken in area of isolated outcrop, within a ~2.5km long, coherent copper-molybdenum-silver soil anomaly."

CSL Ltd (ASX: CSL)

The CSL share price is up 5% to $97.58. This appears to have been driven by relative strength in the healthcare sector on Friday. In addition, it is worth noting that CSL revealed some insider buying this morning. Its director, Carolyn Hewson AO, picked up almost $100,000 worth of CSL shares through an on-market trade this week.

Megaport Ltd (ASX: MP1)

The Megaport share price is up 9% to $18.16. Investors have been buying this network solutions company's shares following the completion of an institutional entitlement offer. Megaport raised approximately $518 million at $14.30 per share. This represents a 13.9% discount to its last close price. In addition, Megaport revealed that it has secured four new AI infrastructure contracts with combined Total Contract Value (TCV) of approximately $458.9 million. The company's CEO, Michael Reid, said: "This exceptional outcome reflects the strong support of our institutional shareholders and their confidence in our strategy. By combining Megaport's global footprint of more than 1,100 data centres in 31 countries with Latitude.sh's platform capabilities, we are building a Globally-Distributed AI Inference Cloud designed to support AI at global scale. We now look forward to our retail shareholders having the same opportunity to participate on a pro rata basis. We're just getting started. Game on!"

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is up 4% to $165.90. Yesterday, this health imaging technology company advised that its Visage Imaging business signed a five-year, A$16 million contract renewal with The Ohio State University Wexner Medical Center (OSUWMC). This includes the additions of Visage 7 Workflow and Visage 7 Cardiology Imaging. Pro Medicus' CEO, Dr Sam Hupert, said: "OSUWMC provides world class, acclaimed patient care. Renewing this contract, to now include the additions of Visage 7 Workflow and Visage 7 Cardiology Imaging, confirms our belief that we have extensive native capabilities that Visage customers appreciate as they seek to retire legacy solutions and continue to scale their Visage 7 Enterprise Imaging Platform."

The post Why Chalice Mining, CSL, Megaport, and Pro Medicus shares are racing higher appeared first on The Motley Fool Australia.

At the time of writing on Thursday, shares are down 3.4% in intraday trade, changing hands for $2.54 apiece.

Despite that retrace, Chalice Mining shares remain up a whopping 108.2% over 12 months, smashing the 5.5% one-year returns delivered by the ASX 300.

And with its flagship critical minerals project nearing potential production, Chalice Mining shares could keep outpacing the benchmark in the year ahead.

ASX 300 mining stock tipped for more gains

UBS analyst Levi Spry sees more upside potential for Chalice Mining, increasing the stock from a neutral to a buy rating (courtesy of The Bull).

Part of that bullish outlook stems from the ASX 300 mining stock's Gonneville Platinum Group Metal-Nickel-Copper Project, located in Western Australia. The project was discovered by Chalice's geologists in early 2020.

Chalice Mining notes:

In December 2025, the Pre-Feasibility was completed determining the optimal development pathway for the Project. A long life and globally critical minerals mine in Western Australia, set to generate A$4.7bn in free cashflow pre-tax, with a rapid payback of ~2.7 years.

Amid growing confidence that the project will advance to production, UBS increased its price target on Chalice Mining to $2.75 a share. That represents a potential upside of just over 8% from current levels.

What's been happening with Chalice Mining?

Chalice Mining shares closed up 22.9% on 17 February last year after the ASX 300 mining stock reported a "major metallurgical breakthrough" at Gonneville.

The company said the breakthrough means the project will not require a hydrometallurgical process for the nickel concentrate, noting this "substantially reduces" technical risk, process complexity, and capital and operating costs.

Commenting on the advancement on the day, Chalice Mining CEO Alex Dorsch said:

The ability to produce a saleable nickel concentrate across the grade spectrum of the entire Gonneville Resource is a major breakthrough and fundamentally simplifies the world-class Gonneville Project. This is the step change we have been hoping for over the last two years.

Dorsch added:

Removing the need for a hydrometallurgical process materially reduces both the capital and operating costs and, together with the optimisations being introduced to the flowsheet, is expected to deliver a significant improvement in project margins across all high-grade and low-grade phases of a bulk open-pit mine plan. The simplified flowsheet also has much lower risk profile and gives the Project a smoother and more rapid pathway to development.

On 20 October, Chalice Mining affirmed that it has targeted the Final Investment Decision (FID) for its Gonneville Project in late calendar year 2027.

The post Up 108% in a year, why this buy-rated ASX 300 mining stock is tipped for more outperformance appeared first on The Motley Fool Australia.

Soaring commodity prices pushed ASX mining shares substantially higher last year.

In the first week of 2026, many have reset their 52-week highs yet again as metal and mineral prices continue their upwards march.

The big ones to watch are gold, silver, copper, and lithium, which have booked 12-month gains of 66%, 160%, 36%, and 77%, respectively.

Wilson Asset Management lead portfolio manager Matthew Haupt expects ASX mining shares to do better than the banks in 2026.

Haupt is positive on ASX iron ore shares BHP Group Ltd (ASX: BHP), Fortescue Ltd (ASX: FMG), and Rio Tinto Ltd (ASX: RIO) this year.

He said Wilson recently bought aluminium stock Alcoa Corporation CDI (ASX: AAI) and coal producer Whitehaven Coal Ltd (ASX: WHC).

After such strong share price growth in 2025, investors may be wary of how much upside might be left in ASX mining shares.

Here are four miners that the experts are backing for price growth in the new year.

Chalice Mining Ltd (ASX: CHN)

Chalice is an ASX mineral explorer targeting high-grade nickel, copper, gold, and platinum group element (PGE) deposits.

PGE includes platinum (PT), palladium (PD), and rhodium (RH), which were among the fastest rising commodities of 2025.

Chalice Mining shares closed at $2.56 on Thursday, up 7.1% for the day and up 123% over the past 12 months.

Morgans has a speculative buy rating on this ASX mining share with a $4.50 price target.

This suggests a potential 76% upside in the new year.

Morgans said:

CHN released a Pre-Feasibility Study (PFS) for the Gonneville Pd-Ni-Cu project. The PFS was broadly in line with MorgansF, with key beats to Stage 1 capex (-9%) and palladium payabilities (+7%).

Macro tailwinds are turning supportive: the EU is moving to soften its 2035 ICE ban (supportive for hybrids/Pd demand) while the already small ~9Mozpa palladium market is tightening, running an estimated ~0.2Moz deficit even before any meaningful industrial demand uplift.

Vault Minerals Ltd (ASX: VAU)

The Vault Minerals share price closed at $5.61, down 1.75% on Thursday and up 154% over the past 12 months.

Like all ASX gold mining shares, Vault Minerals has benefited from the skyrocketing gold price.

The gold price rose by 65% in 2025 and by 27% in 2024.

UBS gives Vault Minerals a buy rating with a 12-month price target of $6.60.

This implies a potential 18% gain in 2026.

Westgold Resources Ltd (ASX: WGX) 

The Westgold Resources share price finished the session yesterday at $6.31, down 1.6%.

The ASX gold mining share has rocketed 115% over the past 12 months.

RBC Capital Markets reckons Westgold shares have more room to run.

The broker gives the stock a buy rating with a price target of $7.80.

This implies a possible 24% gain in 2026.

Capstone Copper Corp CDI (ASX: CSC)

The Capstone Copper share price closed at $14.99 yesterday, down 2.5%.

This ASX copper share has risen 48% over the past 12 months.

Macquarie has a buy rating on Capstone Copper shares with a 12-month price target of $17.

This implies a potential 13% gain in the new year.

The broker said Capstone is its preferred copper exposure due to its "strong organic growth profile and attractive relative value".

The post 4 ASX shares to buy in the market's best-performing sector of 2025 appeared first on The Motley Fool Australia.

The Chalice share price is up 7.11% today to $2.56, extending a strong run that has seen the stock climb 16% over the past week.

Zooming out, the gains are even more eye-catching. Chalice shares are up 45% over the past month and an impressive 120% over the past 12 months.

After such a powerful run, the key question is whether there is still upside from here.

Let's break it down.

Gonneville project continues to drive momentum

The key driver behind Chalice's share price surge is its Gonneville palladium-nickel-copper project in Western Australia.

Gonneville is a globally significant critical minerals discovery, containing palladium, nickel, copper, cobalt, and platinum group elements. These metals are essential for electric vehicles, renewable energy infrastructure, and advanced manufacturing.

Last month, Chalice released a pre-feasibility study (PFS) for the project. The study outlined a long-life, large-scale operation with strong forecast economics.

According to the PFS, Gonneville has the potential to generate substantial cash flow over its mine life, with relatively low operating costs and a competitive capital profile. Importantly, the study confirmed that the project remains technically and economically viable at current commodity prices.

The project has also received strong government backing. Gonneville has been granted Major Project Status by the Federal Government and recognised as a Strategic Project by the WA Government. That support can help streamline approvals and reduce development risk over time.

Strong commodity backdrop adds support

Chalice's recent rally has also been helped by improving sentiment across key commodities.

Copper prices have pushed towards record highs, driven by strong demand from electrification and data centre buildouts. Nickel prices have also surged to multi-year highs amid supply concerns and policy changes in Indonesia.

This gives Chalice exposure to a mix of critical minerals that are seeing favourable long-term demand trends.

Risks investors should keep in mind

Despite the strong share price performance, Chalice is still a pre-production company. Earnings remain negative, and the path to first production will require further studies, approvals, and funding.

It is also worth noting that Chalice shares can be volatile and sensitive to changes in commodity prices and broader market sentiment.

Foolish bottom line

Chalice Mining's 120% rally has been driven by solid progress at Gonneville and a supportive commodity backdrop.

While the easy gains may now be behind it, further upside could come from continued project de-risking and strong metals prices.

For investors with a long-term view and a tolerance for volatility, Chalice remains a stock worth watching closely.

The post This ASX mining stock is up 120% in a year. Can the rally continue? appeared first on The Motley Fool Australia.

Let's see what it is saying about the two listed below. Are they buys, holds, or sells?

Chalice Mining Ltd (ASX: CHN)

This mineral exploration company's shares have been on fire over the past 12 months. The good news is that the broker doesn't believe it is too late to invest, but only if you have a high tolerance for risk.

Morgans recently put a speculative buy rating and $4.50 price target on its shares. This implies potential upside of over 80%.

It believes the ASX share is well-positioned to benefit from increasing demand for palladium. It said:

CHN released a Pre-Feasibility Study (PFS) for the Gonneville Pd-Ni-Cu project. The PFS was broadly in line with MorgansF, with key beats to Stage 1 capex (-9%) and palladium payabilities (+7%). Macro tailwinds are turning supportive: the EU is moving to soften its 2035 ICE ban (supportive for hybrids/Pd demand) while the already small ~9Mozpa palladium market is tightening, running an estimated ~0.2Moz deficit even before any meaningful industrial demand uplift.

We reiterate our SPECULATIVE BUY rating with a A$4.50ps target price (previously A$2.90ps), a function of a refreshed spot scenario following a +122% increase in Pd prices over the past eight months and PFS input updates.

Northern Star Resources Ltd (ASX: NST)

This gold miner's recent quarterly update didn't impress Morgans. It notes that the ASX share is experiencing operational challenges across all hubs.

As a result, the broker has downgraded its shares to a hold rating with a reduced price target of $26.00.

While the broker is positive on the company's long-term outlook, it thinks it sees the short term as challenged. It explains:

NST has revised FY26 guidance lower after another soft sales quarter, cutting the midpoint ~8% to 1,650koz (from 1,775koz). The downgrade reflects ongoing operational challenges across all hubs, including grade, throughput and utilisation constraints. This marks the second guidance miss in as many years. While we remain constructive on NST's long-term growth pathway, we are adopting a more cautious (previously bullish) short-to-midterm production outlook, maintained until delivery consistency improves.

We now forecast FY26 sales of 1,589koz (-9%), marginally below updated guidance (1,600–1,700koz). We lift our AISC to A$2,770/oz, reducing forecast EBITDA and EPS by 16% and 22% respectively. Rating revised to HOLD, price target A$26.00ps (previously A$27.41ps). The downgrade partly offset by our higher spot scenario of US$3,500/oz (from US$3,250/oz).

The post Buy, hold, sell: How does Morgans rate these ASX shares? appeared first on The Motley Fool Australia.

That's because insider buying is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its directors. If they are buying, it could be a sign that they are confident in the direction the company is heading and see value in its shares.

With that in mind, listed below are a few ASX shares that have reported meaningful insider buying recently. They are as follows:

Bendigo and Adelaide Bank Ltd (ASX: BEN)

A change of director's interests notice reveals that this regional bank's chair has been buying shares in December. According to the notice, independent chair, Vicki Carter, snapped up a total of 4,933 Bendigo and Adelaide Bank shares last week through an on-market trade on 4 December.

Carter paid an average of $10.13 per share, which equates to a total consideration of $49,971.29. This purchase boosted the chair's holding to a total of 38,849 shares.

Bendigo and Adelaide Bank shares are down 21% over the past 12 months. The majority of this can be attributed to the release of the results of an investigation by Deloitte into suspicious activity.

The investigation, which was initiated by the bank, concluded that deficiencies existed regarding the bank's approach to the identification, mitigation and management of money laundering (ML) and terrorism financing (TF) risk.

Chalice Mining Ltd (ASX: CHN)

Another change of director's interests notice shows that one of this mineral exploration company's non-executive directors has been buying shares this week.

On Wednesday 10 December, Richard Hacker paid a total of $99,566.34 to acquire 59,862 Chalice shares through an on-market trade. This represents an average of approximately $1.66 per share.

This lifted Hacker's shareholding (indirect and direct) to over 1.3 million shares. He also has a large number of unlisted options, which are out of the money at present, and performance and retention rights.

Xero Ltd (ASX: XRO)

Finally, a non-executive director at Xero has taken advantage of recent share price weakness to load up on its shares.

A notice reveals that Dale Murray has bought 1,286 Xero shares through an on-market trade on 11 December. Murray paid an average of $115.30 per share, which represents a total consideration of $148,275.80.

This increased the non-executive director's shareholding to a total of 2,719 shares.

The post Insiders are buying Xero and these ASX shares this month appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 2.5% to $1.62. Investors have been selling this mineral exploration company's shares this week following the release of the pre-feasibility study (PFS) for the Gonneville Palladium-Nickel-Copper Project. The PFS confirmed a long life, globally competitive critical minerals mine in Western Australia, which it believes will generate $4.7 billion in free cashflow (pre-tax) over an initial 23 year open-pit mine life. In response to the update, UBS retained its neutral rating but slashed its price target down to $1.75.

Predictive Discovery Ltd (ASX: PDI)

The Predictive Discovery share price is down 7% to 65.5 cents. This morning, fellow gold miner Perseus Mining Ltd (ASX: PRU) revealed that it was ending its pursuit of Predictive Discovery after its proposal was no longer deemed to be superior. It is possible that some investors were counting on a bidding war breaking out between Perseus and fellow suitor Robex Resources.

Premier Investments Ltd (ASX: PMV)

The Premier Investments share price is down 4% to $14.43. This has been driven by the retail conglomerate's shares going ex-dividend this morning for its latest payout. In September, the Peter Alexander and Smiggle owner released its FY 2025 results and reported a sizeable a 31.1% jump in profit. This strong form allowed the company's board to declare a fully franked final dividend to 50 cents per share. Eligible shareholders can now look forward to receiving this dividend next month on 23 January.

St Barbara Ltd (ASX: SBM)

The St Barbara share price is down almost 11% to 50 cents. Investors have reacted negatively to news that the gold miner will sell down interests in its Simberi gold operations in Papua New Guinea. Chinese company Lingbao Gold Group (HKG: 3330) has agreed to pay $370 million for a half stake in a subsidiary that would own 80% of the Simberi gold project. The remaining 20% of the project is being sold to Kumul Mineral Holdings for $100 million. The company notes that the "transaction values 100% of the Simberi Gold Project at $800 million which represents a 31% premium to the current St Barbara market capitalisation."

The post Why Chalice Mining, Predictive Discovery, Premier Investments, and St Barbara shares are sinking today appeared first on The Motley Fool Australia.

That's because they could be destined to deliver huge returns for investors over the next 12 months according to analysts. Here's what they are recommending to clients:

Epiminder Ltd (ASX: EPI)

This newly listed medical device and information solutions company could be an ASX stock to buy according to Morgans.

It believes the company's epilepsy diagnosis and management system is well-placed in a market estimated to be worth US$1.1 billion in just the United States. It said:

Epiminder (EPI) aims to transform epilepsy diagnosis and management through the Minder system, the first FDA-approved sub-scalp EEG capable of continuous brain monitoring for months or years. Unlike current short-duration EEG tests, Minder provides long-window, high-fidelity that enables more accurate diagnosis and better treatment decisions. EPI is targeting a phased US commercial launch in 2H26.

EPI's initial focus is drug-resistant epilepsy (DRE) patients with inconclusive EEG results, a segment representing up to 45,000 patients annually in the US and a US$1.1bn market opportunity. IPO proceeds will fund completion of the DETECT demonstration study, development of the next-generation G1 Minder® system, and initial build-out of US commercial infrastructure. Key near-term catalysts include the targeted 2H26 release of the G0 device and start of the DETECT study.

Morgans has initiated coverage with a speculative buy rating and $2.33 price target. Based on its current share price of $1.19, this suggests that upside of 96% is possible between now and this time next year.

Chalice Mining Ltd (ASX: CHN)

Over at Bell Potter, its analysts see huge potential returns on offer with this mineral exploration company's shares.

The broker was pleased with the pre-feasibility study (PFS) for the 100%-owned Gonneville Palladium-Nickel-Copper Project. It believes it positions Gonneville as a globally significant, long-life, low-cost critical minerals project with an improved and simplified development plan. It said:

CHN has outlined a development plan for Gonneville that positions it as a globally significant, long-life, low-cost critical minerals project that is a close strategic fit with western government objectives to diversify, de-risk and secure critical minerals supply chains. This is a materially improved and simplified development plan with reduced upfront costs compared with the original hydrometallurgical circuit.

The PFS delivers strong production and financial metrics at cyclically low prices and demonstrates high leverage to rising commodity prices. These are all factors we believe will support Gonneville's development and attract a significant amount of government backed debt funding. This will likely carry relatively low service costs, relatively long maturity dates and leave a relatively small equity funding requirement, in our view. Optionality to extend the mine life into a multi-generational asset strengthens the funding case further.

In response, Bell Potter has retained its speculative buy rating with a trimmed price target of $4.00. Based on its current share price of $1.64, this implies potential upside of 140% for investors.

The post These speculative ASX stocks could rise 90% to 140% appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Andean Silver Ltd (ASX: ASL)

The Andean Silver share price is down 12% to $1.84. This morning, the silver developer revealed that it has received firm commitments for a $30 million placement to institutional and sophisticated investors. The placement was undertaken at $1.85 per new share, which represents an 11.5% discount to its last close price. Andean's chief executive, Tim Laneyrie, said: "We have an abundance of opportunities to drive growth and value creation. The proceeds from the Placement and SPP will help us unlock these opportunities through drilling programs, project studies and potential land acquisitions. We are on track to deliver a resource upgrade in the new year while ramping up our drilling to grow and upgrade the resource."

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is down 5% to $1.60. This follows news that the uranium producer is one of six shares that will be kicked out of the benchmark ASX 200 index at the next quarterly rebalance. Boss Energy shares will be removed from the index at the start of trade on 22 December. This may have forced some fund managers with strict investment mandates to sell its shares today.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 9% to $1.59. This has been driven by the release of the pre-feasibility study (PFS) for the Gonneville Palladium-Nickel-Copper Project. The PFS confirmed a long life, globally competitive critical minerals mine in Western Australia, which it believes will generate $4.7 billion in free cashflow (pre-tax) over an initial 23 year open-pit mine life. It also estimates that it has a rapid payback of 2.7 years. However, a final investment decision on the project is not expected until the first half of 2028. This means there is significant uncertainty with respect to commodity price assumptions used in the PFS.

Rio Tinto Ltd (ASX: RIO)

The Rio Tinto share price is down 1.5% to $136.45. This is despite copper prices rising on Friday. Some investors may be taking profit after strong gains were made in recent months. For example, since this time six months ago, Rio Tinto's shares remain up 25%. In other news, this morning Macquarie Group Ltd (ASX: MQG) retained its neutral rating and $130.00 price target on the miner's shares.

The post Why Andean Silver, Boss Energy, Chalice Mining, and Rio Tinto shares are falling today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) is down roughly 3% over that span. 

However, broker Bell Potter has placed a buy recommendation on these three growth options. 

Let's see what the broker had to say. 

Chalice Mining Ltd (ASX: CHN)

Chalice Mining is an explorer and developer of precious and base metals. The company's portfolio includes its flagship 100%-owned Julimar project in Western Australia, hosting platinum group elements (PGE), nickel, copper, cobalt, and gold.

It has already risen 60.18% YTD, but broker Bell Potter believes there is still room for more growth from its current share price of $1.81. 

The broker currently has a price target of $5.75. This indicates an upside of 217.7%. 

According to Bell Potter, Chalice Mining is making solid progress on its Gonneville project. It has completed a key technical upgrade to improve metal recovery and has a detailed plan to finish its pre-feasibility study by the end of 2025. 

Environmental studies are underway, and the company is targeting a final investment decision by late 2027, giving investors a clear and steady development timeline.

Brazilian Rare Earths Ltd (ASX: BRE)

Brazilian Rare Earths is an Australian-based company focused on exploring rare earth elements and other critical minerals in Brazil. 

The company owns and operates a district-scale Tier One Rare Earths Province, located in North Eastern Brazil.

This ASX materials share has seen its price hover for most of the year, rising 2.61% since the start of the calendar year. 

Its share price at yesterday's close was $2.36. However, Bell Potter has a price target of $5.00. 

This indicates an upside of 111.86%. 

The company could be set to benefit from rare earth materials tailwinds from the US. 

Investors and governments are looking for rare earths sources outside China, and Brazil offers a stable, mining-friendly jurisdiction. BRE is well-positioned to benefit from this global shift in supply chains.

Capstone Copper Corp (ASX: CSC)

Capstone Copper operates as a copper producer with a diversified portfolio of operating assets focused in the Americas and an extensive pipeline of near-term organic growth opportunities.

Its share price has fallen 13.13% YTD, however, broker Bell Potter sees a turnaround in the near future. 

It currently has a buy recommendation and a price target of $12.43. 

This indicates a 41.25% upside from its current share price. 

The broker is optimistic on the ASX materials company due to its strong balance sheet, reliable production, and lower costs throughout the year.

Capstone's balance sheet remains strong with available liquidity over $1 billion. The company announced an upsized offering of $600 million in senior unsecured notes to refinance higher-cost debt, enhancing flexibility.

The post Could these 3 ASX materials shares be set to double? appeared first on The Motley Fool Australia.

With dividends included, the total return from ASX All Ords shares last financial year was a pleasing 13.23%.

The ASX All Ords closed FY25 at 8,773 points yesterday.

Today, the All Ordinaries Index is up 0.021% to 8,774.8 points.

Looking for ASX All Ords investment inspiration?

The following ASX All Ords shares received an upgraded 'strong buy' consensus rating on the CommSec platform in June.

Genesis Minerals Ltd (ASX: GMD)

The Genesis Minerals share price is currently $4.36, up 1.4% on Tuesday.

The ASX gold share is up 75.6% in the year to date.

Like all ASX All Ords gold stocks, Genesis Minerals has benefited from the very strong gold price.

James Gerrish of Shaw and Partners says the gold price may retest its highs, but overall, a period of ongoing consolidation has begun.

Siteminder Ltd (ASX: SDR)

The Siteminder share price is $4.45, up 0.56%.

The ASX technology share is down 25% in the year to date.

Dusk Group Ltd (ASX: DSK)

The Dusk share price is 84 cents, up 2.44% on Tuesday.

The ASX All Ords consumer discretionary share is down 32% in the year to date.

CSL Ltd (ASX: CSL)

The CSL share price is currently $239.73, up 0.1% on Tuesday.

Several analysts say CSL shares are a bargain, which is an unusual situation for an industry giant.

Stock in the ASX healthcare sector's largest company is down 15% in the year to date.

Mesoblast Ltd (ASX: MSB)

Mesoblast shares are trading for $1.79 apiece, up 7.85% today.

The ASX All Ords biotech share is down 47% in the year to date.

Wisetech Global Ltd (ASX: WTC)

The Wisetech share price is $108.37, down 0.61% on Tuesday.

The tech sector's No.1 stock by market capitalisation is down 13% in the year to date.

Aristocrat Leisure Ltd (ASX: ALL)

The Aristocrat share price is $65.52, up 0.54% on Tuesday.

The ASX consumer discretionary share is down 4.5% in the year to date.

But wait, there's more!

Syrah Resources Ltd (ASX: SYR)

Syrah Resources stock is trading at 25 cents, down 1.96% today.

The ASX All Ords materials share is up 14% in the year to date.

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is currently $4.46, down 4.5% today.

Boss Energy shares had a strong run last month after news broke of a $200 million fundie investment in physical uranium.

Last month, Boss Energy also announced it had met its FY25 production target at its Honeymoon project.

The ASX All Ords uranium share is up 80% in the year to date.

Nick Scali Ltd (ASX: NCK)

Nick Scali shares are trading at $17.90, down 1.73% on Tuesday.

Nathan Robertson, CEO of Alvia Asset Partners, discussed his team's success with Nick Scali and its 500% share price rally since COVID.

The ASX All Ords retail share is up 21% in the year to date.

Treasury Wine Estates (ASX: TWE)

The Treasury Wine Estates share price is $7.88, up 0.9% on Tuesday.

The ASX wine share is down 30% in the year to date amid falling demand for wine worldwide.

Adairs Ltd (ASX: ADH)

The Adairs share price is currently $2.11, up 0.96% on Tuesday.

The ASX retail share is down 22% in the year to date.

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is $1.68, down 0.18% on Tuesday.

Bell Potter believes Chalice Mining shares could more than double in value over the next 12 months.

The broker has a speculative buy rating on the ASX mining share with a 12-month price target of $4.10.

The ASX mining stock is up 49% in the year to date.

Dexia Industrial REIT (ASX: DXI)

Stock in the Dexia Industrial REIT is changing hands for $2.76 per share, up 1.47%.

The ASX real estate investment trust (REIT) is up 6.2% in the year to date.

Nuix Ltd (ASX: NXL)

The Nuix share price is $2.18, down 0.46% on Tuesday.

The ASX tech share is down 65% in the year to date.

The post 15 ASX All Ords shares upgraded to 'strong buy' status for the new financial year appeared first on The Motley Fool Australia.

That's because the team at Bell Potter believes this stock could more than double in value over the next 12 months.

Which ASX 300 mining stock?

The stock in question is Chalice Mining Ltd (ASX: CHN).

It is the owner of the Julimar PGE-Ni-Cu-Co-Au project located ~70km from Perth in Western Australia.

Bell Potter highlights that Julimar is a major greenfield discovery which has grown to comprise a Resource of 660Mt at 0.79g/t 3E (Pt+Pd+Au), 0.15% Ni, 0.083% Cu, 0.015% Co, containing 17Moz 3E, 960kt Ni, 540kt Cu, 96kt Co.

It notes that with this, the ASX 300 mining stock has been credited with the discovery of the new West Yilgarn Ni-Cu-PGE Province in Western Australia.

What is the broker saying about Chalice Mining?

Bell Potter notes that the company has released an update on the Julimar project. This includes the finalisation of its development timeline. It said:

This is a positive update, confirming the previously signalled development pathway for the Gonneville project. In our view, this lays down a plan that strikes the right balance between value extraction from the Gonneville Resource and the selection of mining and processing routes that minimise CAPEX and funding requirements, reduce technical risk in the processing circuit and stage the project's development to optimise funding and financial performance metrics.

The reiterated PFS completion timeline, update on environmental studies and the setting of an FID target for late CY27 clarify CHN's project development strategy. Overall, this provides the market with greater clarity on project development milestones.

Big potential returns

According to the note, the broker has reaffirmed its speculative buy rating on the ASX 300 mining stock with a reduced price target of $4.10.

Based on its current share price of $1.81, this implies potential upside of approximately 125% for investors over the next 12 months.

Commenting on its speculative buy rating, Bell Potter said:

With this update we have revised our forecast commodity prices and exchange rate, aligning them with our current long-term assumptions. Key drivers include a 14% lower Pd price and 8% higher AUD:USD exchange rate, partially offset by higher Pt and Ni prices.

CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes. CHN is sufficiently funded to complete its PFS by end CY25 and lay out a clear value proposition ahead of any potential transaction or offtake agreement. We retain our Speculative Buy recommendation on a lowered Valuation of $4.10/sh.

The post Bell Potter says this ASX 300 mining stock could rise 125% appeared first on The Motley Fool Australia.

Will the market be able to bounce back from this on Monday? Here are five things to watch:

ASX 200 expected to rebound

The Australian share market looks set to rebound on Monday following a strong finish to last week on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points or 0.06% higher. In the United States, the Dow Jones was up 1%, the S&P 500 rose 0.5%, and the Nasdaq pushed 0.5% higher.

Oil prices rise

It could be a decent start to the week for ASX 200 energy shares such as Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) after oil prices pushed higher on Friday night. According to Bloomberg, the WTI crude oil price was up 0.45% to US$65.52 a barrel and the Brent crude oil price was up 0.1% to US$67.77 a barrel. This couldn't stop oil prices from recording their steepest weekly decline in three years.

Woolworths rated as a hold

The Woolworths Group Ltd (ASX: WOW) share price is fully valued according to analysts at Bell Potter. This morning, the broker has retained its hold rating on its shares with an improved price target of $31.90. This is only a touch higher than where its shares currently trade. It said: " Trading at ~9.0x FY26e EBITDA, WOW is trading at a multiple broadly comparable to COL and international peers."

Gold price sinks

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a poor start to the week after the gold price sank on Friday night. According to CNBC, the gold futures price was down 1.8% to US$3,287.76 an ounce. Easing US-China trade tensions put pressure on the safe haven asset.

Buy Chalice Mining shares

Chalice Mining Ltd (ASX: CHN) shares could be great value according to analysts at Bell Potter. This morning, the broker has reaffirmed its speculative buy rating on the mineral exploration company's shares with a reduced price target of $4.10. It said: "CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes."

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

At the time of writing, the ASX mining stock is up 8% to $1.73.

Why is this ASX mining stock jumping?

Investors have been bidding this mineral exploration company's shares higher today after it released an update on its Gonneville PGE-Ni-Cu-Co Project in Western Australia.

According to the release, the ASX mining stock's environmental approvals and pre-feasibility study (PFS) for Gonneville are progressing to plan.

The PFS is on track for completion in the fourth quarter of 2025, and draft environmental review documents (ERDs) are scheduled for submission in mid-2026.

In respect to the latter, management advised that the project development scope and conceptual site layout has been finalised for the ERDs. It is planning a long life bulk open-pit mine with an initial smaller process throughput for the first four years and a subsequent expansion from year five.

The good news is that the ASX mining stock had cash and listed investments of $83 million at 31 March 2025. It notes that this means that it is fully funded through to the Gonneville Final Investment Decision (FID), which is targeted for late 2027.

But that doesn't mean that the company isn't keeping its options opened for funding. It continues to engage with the Western Australian and Commonwealth Governments around potential common user infrastructure options and funding support.

Should you invest?

The team at Bell Potter remains positive on this ASX mining stock. Although it hasn't yet responded to this update, its analysts recently put a speculative buy rating and $5.75 price target on its shares. This is over 200% greater than its current share price.

Commenting on the stock, the broker said:

CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes.

CHN is sufficiently funded to complete its PFS by end CY25 and lay out a clear case for the project's value to the market ahead of any potential transaction via its strategic MOU with Mitsubishi Corporation. We make no changes to our valuation with this update and retain our Speculative Buy recommendation and Valuation of $5.75/sh.

Overall, this could make the mining stock a good pick if you have a high tolerance for risk and want exposure to this side of the market.

The post Guess which ASX mining stock is up 8% today and could rocket a further 200% appeared first on The Motley Fool Australia.

That's because two leading brokers believe that its shares could more than double in value from current levels.

Which ASX 300 stock?

The stock in question is Chalice Mining Ltd (ASX: CHN).

It is a mineral development company behind the Gonneville Project in Western Australia. This is the largest undeveloped palladium-nickel-copper project in the western world.

The company notes that Gonneville has a tier-1 scale resource containing approximately 17 million ounces of platinum group elements (PGEs), 960,000 tonnes of nickel, 540,000 tonnes of copper, and 96,000 tonnes of cobalt, making it the largest PGE discovery in Australian history.

The team at Morgans believes its shares are dirt cheap at present. Though, it concedes that it is a risky play and not suitable for all investors.

Morgans has a speculative buy rating and $2.90 price target on its shares. Based on its current share price of $1.14, this implies potential upside of 150% over the next 12 months.

Commenting on the ASX 300 stock, the broker said:

CHN has announced additional enhancements to the metallurgical processing of its 100%-owned, 17Moz 3PGE Gonneville deposit. The latest test work builds on February's breakthrough, demonstrating improved recoveries for all contained metals from Year 5 onward, and incremental gains in palladium, nickel, and copper recoveries specifically in Year 5.

New data also indicates the potential to produce a saleable iron byproduct, further enhancing the project's economic viability. We maintain our SPECULATIVE BUY rating and lift our target price to A$2.90ps (previously A$2.80ps), underpinned by improved metallurgical recoveries and continued leverage to palladium prices.

Who else is bullish?

Another broker that is bullish on this ASX 300 stock is Bell Potter. It believes its shares can go even higher. Though, once again it warns that this is high risk option for investors.

Bell Potter has a speculative buy rating and lofty $5.75 price target on its shares. This is a whopping 400% higher than where they currently trade.

It appears to believe that the market is seriously undervaluing its "globally significant" Gonneville project. The broker explains:

CHN's Gonneville project continues to offer exposure to a globally significant, critical minerals PGE-Ni-Cu-Co Project in a Tier 1 jurisdiction. It has designation at both State and Federal levels as a Major Project, conferring dedicated co-ordination and support for the project through statutory approvals processes.

CHN is sufficiently funded to complete its PFS by end CY25 and lay out a clear case for the project's value to the market ahead of any potential transaction via its strategic MOU with Mitsubishi Corporation. We make no changes to our valuation with this update and retain our Speculative Buy recommendation and Valuation of $5.75/sh.

The post Brokers say this ASX 300 stock can rise 150%+! appeared first on The Motley Fool Australia.

The broker's stock picks come after 22 ASX mining companies presented at last week's Macquarie Conference in Sydney.

Let's take a look at some key mining themes that emerged at the conference and which stocks Macquarie tips for growth.

10 ASX mining stocks set for growth: broker

Future-proofing in the gold sector

In a new note, Macquarie said ASX gold miners were looking to future-proof their businesses amid a recent record high gold price.

The broker commented:

The gold sector, fresh from record highs, is flush with cash.

Some appear to be preparing for a lower pricing environment by investing in capex and mine development to expand margins, extend life and grow whilst the market can support it.

Macquarie mentioned Vault Minerals Ltd (ASX: VAU), which presented at the conference and discussed its optionality of a Stage 2 expansion of the KOTH plant funded by its strong balance sheet.

Macquarie has an outperform rating on Vault Minerals shares with a 12-month price target of 60 cents.

The Vault Minerals share price is currently 42 cents, down 5.6%.

Other ASX gold mining stocks that scored an outperform rating from Macquarie were Newmont Corporation (ASX: NEM) with a price target of $94 and Bellevue Gold Ltd (ASX: BGL) with a target of $1.20.

Newmont shares are currently $78.41, down 3%, while Bellevue Gold shares are 88 cents, down 8.4%.

Eye to growth in base metals

The broker described a mixed outlook for base metals and noted Indonesia's recent dominance in China-backed nickel production.

The broker's top ASX nickel stock picks include Nickel Industries Ltd (ASX: NIC) with a price target of 80 cents.

The Nickel Industries share price is currently 64 cents, up 0.8%.

Macquarie also likes ASX copper mining stock Capstone Copper Corp CDI (ASX: CSC) with a 12-month price target of $11.60.

Capstone Copper shares are currently $8.20, up 3.1%.

Macquarie also likes Chalice Mining Ltd (ASX: CHN), which produces nickel, copper, cobalt, and platinum group elements (PGE).

The broker has a 12-month price target of $1.60 on Chalice shares. The stock is trading at $1.13, down 1.1% on Tuesday.

Shift in focus for ASX lithium mining stocks

Macquarie said lithium miners were shifting focus from growth to productivity and optimisation to drive future returns.

The broker's top ASX lithium mining stock picks are IGO Ltd (ASX: IGO) with a target of $5.50, Pilbara Minerals Ltd (ASX: PLS) with a target of $2.40, and Patriot Battery Metals Inc. (ASX: PMT) with a target of 52 cents.

The IGO share price is currently $4.42, up 1.4%. Pilbara Minerals shares are up 4.8% to $1.62. Patriot shares are 25 cents, up 2%.

The broker commented:

… PLS is looking to fixed-cost dilution beyond its 850ktpa nameplate.

IGO is blessed with a tier-one asset, but is looking at systematic planning, value optimisation to get more out of its fixed capital base.

PMT keeps ticking its permitting steps.

Rare earths becoming critical

The broker noted that rare earths have become a key part of trade tensions between the US and China.

Macquarie said: "Even despite the volatility this brings to supply chains, a long run constructive demand outlook exists".

Among ASX rare earths mining stocks, Macquarie has an outperform rating on Iluka Resources Ltd (ASX: ILU) shares.

The broker's 12-month share price target is $6.50.

Iluka shares are trading at $4.18, up 0.7% on Tuesday. The broker's forecast implies a potential 55% upside from here.

Iluka mines mineral sands, including zircon and rutile, and rare earth-bearing minerals, monazite and xenotime.

The company is building a rare earths refinery at its Eneabba mine in Western Australia.

The post Broker names 10 ASX mining stocks set to outperform following Macquarie Conference appeared first on The Motley Fool Australia.

Three that have been identified as top opportunities for investors are listed below. Here's what the broker is recommending this month:

Chalice Mining Ltd (ASX: CHN)

Mineral exploration company Chalice Mining has been upgraded from hold to speculative buy by Morgans following the recent announcement of positive metallurgical results.

The key development is a revised processing flowsheet that eliminates the need for a hydrometallurgical circuit. This adjustment is expected to deliver cost savings of approximately $1.6 billion while also reducing project risk.

Morgans views Chalice as offering significant optionality on palladium group element (PGE) prices. In fact, the broker notes that its price target of $2.80 would increase by $1.20 for every $200 per ounce rise in palladium prices. This highlights the potential upside for investors if PGE prices strengthen over time.

Lovisa Holdings Ltd (ASX: LOV)

The broker remains bullish on Lovisa following its half year results and sees it as ASX share to buy.

This was despite slightly lower-than-expected like-for-like (LFL) sales in the first half of FY 2025. Morgans highlights that the fashion jewellery retailer has been accelerating its global store rollout, particularly in the U.S., and could be on track to surpass 1,000 stores before the end of the current half.

Looking ahead, its analysts see Lovisa's long-term investment case as highly compelling, given that it operates in 50 markets but remains underpenetrated in most of them.

Morgans has retained its add rating with a slightly trimmed price target of $35 (from $36).

NextDC Ltd (ASX: NXT)

Finally, NextDC could be an ASX share to buy according to the broker. It is a leading data centre operator with a growing footprint across the Asia-Pacific region.

Morgans notes that the company's first half results and outlook for FY 2025 were largely in line with expectations.

However, the broker concedes that the key challenge for investors is balancing the near-term increase in operating expenses (OPEX) with long-term growth prospects. It highlights that NextDC is investing heavily in expanding its infrastructure to position itself as a dominant digital supplier in the years ahead.

While these investments are currently a drag on EBITDA, Morgans believes they are necessary to capture future demand for digital infrastructure services. Encouragingly, a contracted revenue increase of over $200 million is already in place, meaning it is primarily a matter of timing before these investments start generating returns.

So, although some investors may be wary of the short-term cost impact, Morgans sees the company's strategic execution as the key to unlocking long-term shareholder value. Especially with the rapid expansion of digital infrastructure expected to continue for decades.

In light of this, Morgans has put an add rating and $18.80 price target on its shares.

The post Morgans rates these ASX shares as buys in March appeared first on The Motley Fool Australia.