This comes with increased risk compared to blue-chip companies.

However these two ASX small-caps have attracted buy recommendations from Bell Potter. 

AML3D Ltd (ASX: AL3)

AL3 is a welding, robotics, and software business, which produces automated 3D printing systems that utilise Wire Additive Manufacturing technology (WAM) to produce metal components and structures. 

It is particularly useful for the printing of large scale complex industrial parts for the defence, oil & gas and aerospace sectors.

As is expected with penny stocks, AL3 shares have experienced significant volatility over the last year. 

However a new report from Bell Potter suggests it could be set for growth. 

The broker said the company's technology is particularly suited to maritime applications, giving it strong leverage into demand growth from the US Navy's Maritime Industrial Base and the US SHIPS Act. 

This is already coming to fruition with key contracts being secured in the last week. 

Over FY26-27, we expect AL3 to increase deployment of ARCEMY systems to the US and Europe, increase prototyping activity and ultimately commence commercial scale production of components. There is potential for the Navy LOI to expand beyond the Maritime Industrial Base to land-based assets. AL3 will also look to deploy its technology into non-defence sector industrial manufacturing.

The broker has retained its speculative buy recommendation and $0.40 price target on this ASX small-cap. 

From yesterday's closing price, this indicates an upside of 100%. 

Minerals 260 Ltd (ASX: MI6)

MI6 is a Perth-based gold exploration and development company. 

This small-cap has rocketed in the past year, rising 470%. 

This includes a 59% rise year to date. 

Recent analysis from Bell Potter indicates there could be further growth ahead after MI6 reported new drilling results from its fully owned Bullabulling Gold Project in Western Australia.

The latest results come from 5,425 meters of drilling, part of a larger 110,000-meter program.

The drilling found several solid gold intersections, confirming the project's existing resource estimate and discovering additional mineralised areas beyond it.

MI6 offers gold exposure via the 4.5Moz Bullabulling Resource, valuation uplift through discovery success, project advancement and de-risking as the BGP progresses towards production. It holds ~$250m cash, sufficient to fund to Definitive Feasibility Study (DFS), Final Investment Decision (FID), long-lead items and early site works.

The broker has retained its speculative buy recommendation and price target of $0.90. 

This indicates a potential upside of 31% from current levels. 

The post 2 ASX small-cap shares Bell Potter says can race 30-100% higher appeared first on The Motley Fool Australia.

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

AMP Ltd (ASX: AMP)

The AMP share price is up 4% to $1.30. Investors have been buying the financial services company's shares after it announced an on-market share buyback. AMP advised that it will begin buying back up to $150 million of ordinary shares on-market following the release of its first quarter update next month. AMP's chief executive, Alexis George, said: "We remain committed to returning surplus capital to shareholders in the absence of a compelling alternative, and prioritising organic growth in our wealth businesses. Today's announcement demonstrates this, with an on-market share buyback the most efficient use of capital at this time."

Greatland Resources Ltd (ASX: GGP)

The Greatland Resources share price is up almost 8% to $10.51. This has been driven by an update from the gold miner this morning. Greatland Resources revealed a 150% increase in the Telfer project's gold mineral resources to 8.0 million ounces. This means that the combined Telfer and Havieron resources now total 14.9 million ounces of gold and 645,000 tonnes of copper. The company's managing director, Shaun Day, said: "Telfer and Havieron's combined resource of 550Mt @ 0.84g/t Au & 0.12% Cu for 14.9Moz Au & 645Kt Cu has the potential to underpin a multi-decade, world class mining hub. Our investment in significantly increased drilling has delivered substantial organic growth, with the overall Telfer resource growing by 150% to 8.0Moz, and the higher confidence Measured and Indicated component by 163% to 3.8Moz."

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price is up 5% to 63.2 cents. This follows the release of further positive results from the ongoing drilling program at its 100% owned 4.5Moz Bullabulling Gold Project in Western Australia. Commenting on the results, Minerals 260's managing director, Luke McFadyen, said: "Drilling results received since the December 2025 MRE continue to reinforce our confidence in the growth potential of the MRE. The current program is focused on both expanding the resource and upgrading classifications, particularly within shallow areas targeted for early mining, while also testing high-priority extension targets at depth and along strike."

Woodside Energy Group Ltd (ASX: WDS)

The Woodside Energy share price is up 3% to $35.43. Investors have been buying Woodside and other ASX energy shares today after oil prices surged on Friday night. This was in response to escalating tensions in the Middle East. The S&P/ASX 200 Energy index is up 2.9% at the time of writing.

The post Why AMP, Greatland Resources, Minerals 260, and Woodside shares are pushing higher today appeared first on The Motley Fool Australia.

The analyst team at UBS has put together a list of its top five picks in the emerging gold space, with price targets as much as 120% above current levels.

Where to for commodity prices?

Firstly, let's look at their gold price forecasts for the coming year.

UBS expects the price of gold to remain relatively steady, rising slightly from the current level of about US$5,000 to US$5,075 in FY27, before dropping back to US$4,575 in FY28.

As they said in their research note this week:

Our price forecasts align with UBS Precious Metals strategists' views, which see an average of US$5,200 for CY26 before the rally fades. We wrote recently that risks remain skewed to the upside in the face of ongoing global uncertainty, and we expect gold to continue to benefit from shifts out of US assets. Interest has heightened across institutional and retail investors and the strength of demand has (so far) more than offset any attempts to take profits. The key drivers remain uncertainty relating to the Middle East conflict and geopolitics, ongoing trade tensions and the modest outlook for global growth, de-dollarisation but also gold offering an alternative in times of currency uncertainty.

Local companies set to benefit

Looking at the Australian emerging companies, UBS said, "strong volume growth and gold prices remaining elevated provides a healthy pathway to higher earnings and cashflow''.

UBS' top pick among the emerging miners is Pantoro Gold Ltd (ASX: PNR), for which it has a $7.50 price target compared with the current share price of $3.67.

Pantoro produced 41,623 ounces of gold for the half year but is continuing to explore for gold around its Norseman operations with a view to increasing production to 200,000 ounces per year in the medium term.

UBS' second pick is Westgold Resources Ltd (ASX: WGX), for which it has a price target of $10.25 compared with the current share price of $6.06.

UBS said the company's production target of 470,000 ounces by FY28 "looks conservative'' and there were also cost efficiencies to be had.

UBS' third pick is Minerals 260 Ltd (ASX: MI6), which it has a price target of $1.20 compared with the current price of 62.5 cents.

The company recently agreed to a $220 million funding package to accelerate its Bullabulling gold project, which has a mineral resource of 4.5 million ounces of gold.

UBS' fourth pick is Catalyst Metals Ltd (ASX: CYL), for which it has a price target of $11.25 per share compared with the current price of $6.42.

The team said Catalyst was targeting low capex production growth with strong free cash flow yields.

And finally, UBS' fifth pick is Ora Banda Mining Ltd (ASX: OBM), for which it has a $1.60 price target compared with the current price of $1.40, with the company having a pathway to producing 200,000 ounces of gold per year by FY29 while maintaining strong free cash flow yields.

The post What are the 5 emerging ASX gold companies UBS has picked as winners? appeared first on The Motley Fool Australia.

So, to narrow things down, let's take a look at three that Morgans currently rates as buys. They are as follows:

Capstone Copper Corp (ASX: CSC)

This copper miner's fourth quarter performance might have been a touch softer than expected, but Morgans remains positive due to its strong production growth outlook.

As a result, the broker has a buy rating and $16.00 price target on the ASX mining stock. It said:

Small 4Q25 EPS miss vs expectations but the near-long term reset in production targets (265kt vs 280kt near term, 375kt vs 400kt long term) was the driver of the -9% share price reaction, in our view. We trim our long-term production assumptions and target price to A$16ps (from A$16.60ps).

Even on a moderated growth profile, CSC still delivers ~60% production growth to CY30 from current CY26 forecasts and trades cheaply at 6x/4x CY26/CY27 EV/EBITDA, pricing in US$4.25/lb copper into perpetuity. Maintain BUY with a A$16ps target price (previously A$16.60ps).

Catalyst Metals Ltd (ASX: CYL)

Another ASX mining stock that gets the thumbs up from Morgans is gold miner Catalyst Metals.

It is expecting big things to commence in FY 2027 and is urging investors to buy its shares now before it's too late. The broker has a buy rating and $15.24 price target on its shares.

1H26 result was broadly in line with expectations, with FY26 shaping as a foundation year ahead of a step-change in ounce growth from FY27 and beyond, underpinned by ~10 years of reserves. Key positive: Continued uplift in the price of gold has delivered a material uplift in revenue (+50% pcp) and underlying EBITDA (+92%) despite ounce production effectively being flat pcp.

Minerals 260 Ltd (ASX: MI6)

Finally, this gold developer could be an ASX mining stock to buy according to Morgans.

It likes the company due to its recent funding package and attractive valuation. The broker has a buy rating and $1.20 price target on its shares. It said:

MI6 has agreed to a A$220m funding package with Franco-Nevada Corporation (Franco) to accelerate the development of the 4.6Moz Au Bullabulling Gold Project. The A$220m funding package consists of an updated A$170m royalty agreement lifting the total royalty to 2.45% (previously 1%) and a A$50m private placement to Franco at a 7% premium to last close.

Based on our forecasts, the upfront royalty consideration implies a long-term gold price of ~A$7,500/oz Au. This is materially above consensus assumptions and suggests the funding has been secured on favourable implied terms for MI6. We maintain our BUY recommendation and lift our target price to A$1.20 (previously A$1.10).

The post Morgans names 3 ASX mining stocks to buy appeared first on The Motley Fool Australia.

That's because the team at Bell Potter believes this gold developer's shares could be cheap following a "landmark" moment.

Which ASX gold stock?

The stock that Bell Potter is bullish on is Minerals 260 Ltd (ASX: MI6).

It is a Perth-based exploration and development company led by non-executive chair Tim Goyder and managing director Luke McFadyen.

Last year, it agreed binding terms for the transformational acquisition of 100% of the Bullabulling Gold Project (BGP) from Norton Gold Fields. It has a mineral resource estimate of 4.5Moz at 1.0g/t Au.

But it may not stop there. Bell Potter highlights that the project sits within a 293km2 total tenement package of granted mining and exploration leases.

What was the landmark moment?

This week, the ASX gold stock announced that it has signed a $220 million strategic funding package with Canadian gold royalties and streaming giant Franco-Nevada Corp (NYSE: FNV) to accelerate and de-risk the development of the Bullabulling gold project.

This news went down well with Bell Potter. It commented:

In our view, the pricing of both tranches of the deal is at a material premium to market and represents a strong endorsement by one of the world's most capable and successful gold investment companies. The equity component, priced at $0.45/sh, was at a 7% premium to MI6's prior closing share price before the deal.

In assessing the royalty component, we have conservatively applied the 2.45% initial rate and 1.63% tail rate to the current 4.5Moz Resource. This equates to the effective purchase by FNV:CN of ~106koz for A$170m, or A$1,600/oz. This is a substantial (~8x) premium to the ~A$200/oz (Enterprise Value per Resource ounce) we estimate for ASX-listed gold exploration companies. The deal is, in fact, better than this for MI6 as a 1.0% royalty is already held by FNV:CN over some of the Bullabulling tenements, implying a higher EV/oz metric is actually being paid for the new royalty.

Big potential returns

According to the note, the broker has retained its speculative buy rating on the ASX gold stock with an improved price target of 90 cents (from 75 cents). Based on its last close price of 59.5 cents, this implies potential upside of just over 50% for investors.

Commenting on its recommendation, Bell Potter said:

Following this deal MI6 will have ~$250m cash. This should comfortably fund MI6 through the Definitive Feasibility Study (DFS) and to Final Investment Decision (FID) in early CY27, plus a meaningful portion of project CAPEX. We view this deal as a capital efficient funding mechanism and do not believe these terms would be available to many gold development companies.

The post This ASX gold stock could rise 50% after 'landmark' moment appeared first on The Motley Fool Australia.

At the time of writing, the ASX gold stock is up 33% to a 52-week high of 56 cents.

Why is this ASX gold stock surging?

The catalyst for today's explosive move is the release of a major strategic funding agreement that significantly strengthens the company's balance sheet and accelerates development of its flagship gold project.

According to the release, the ASX gold stock has signed a $220 million strategic funding package with Canadian gold royalties and streaming giant Franco-Nevada Corp (NYSE: FNV) to accelerate and de-risk the development of the 4.5Moz Bullabulling gold project located 65km from Kalgoorlie in Western Australia.

Management notes that the funding has been secured on highly attractive terms, which it believes validates the quality of Bullabulling as one of Australia's leading gold development projects.

In exchange for $170 million, Franco-Nevada Corp will increase its total royalty over the project to 2.45%. This compares to a 1% royalty that currently exists over certain project tenements.

Franco-Nevada Corp will also invest $50 million by subscribing for approximately 111 million Minerals 260 shares at an issue price of 45 cents per new share. This was a 7% premium to its last closing price.

The gold giant will hold 4.9% of shares on issue following this investment.

Commenting on the funding package, the ASX gold stock's managing director, Luke McFadyen, said:

This is a fantastic outcome for Minerals 260 and our shareholders. Securing a $220 million funding package with the world's leading gold royalty company at this early stage of Bullabulling's development is a major endorsement of the project and a milestone that will allow us to accelerate the Project towards production, expand our exploration strategy and de-risk our funding pathway.

Franco-Nevada is an existing royalty holder and expanding our relationship with this financing is highly value accretive relative to other available funding options. Their extensive due diligence across all areas of the Project validates Bullabulling as one of the leading gold projects in Australia.

Franco-Nevada's president and chief executive officer, Paul Brink, added:

Bullabulling is a large and growing orebody and one of the most attractive gold development projects in Australia. After a full review by our team of the rapid and impressive progress made by Minerals 260, we are excited to increase our exposure to the Project.

The post Why is this ASX gold stock surging 33% today? appeared first on The Motley Fool Australia.

But which ones could best buys for 2026? Let's take a look at three that Bell Potter is tipping as buys for next year:

Evolution Mining Ltd (ASX: EVN)

The first ASX gold stock that Bell Potter is bullish on is Evolution Mining. It highlights the miner's strong management team and track record of delivery as reasons to be positive. The broker said:

We continue to prefer Evolution Mining as our first pick gold producer on the basis of its unhedged exposure to the gold price, strengthening balance sheet, increasing free cash flows (has passed its CAPEX peak) and, in our view, is an unlikely potential acquiror.

We expect the market to pay more attention to its 80ktpa copper production exposure in a tightening copper market, as well as it supporting an increasing dividend stream. A strong management team and track record of delivery to guidance make EVN one of the go-to gold exposures on the ASX – a position we believe is justified.

Bell Potter has a buy rating and $12.35 price target on Evolution Mining's shares. This is now below its current share price, so investors may want to wait for a better entry point.

Minerals 260 Ltd (ASX: MI6)

Another ASX gold stock that has been given the thumbs up by Bell Potter is Minerals 260.

The broker sees a lot of positives in the gold developer's Bullabulling Gold Project (BGP) in Western Australia. Especially given its experienced leadership team and significant resource.

Minerals 260 is a Perth-based exploration and development company which is advancing its 100%-owned Bullabulling Gold Project (BGP), 65km from Kalgoorlie in WA. With a Resource of 4.5Moz at 1.0g/t Au it is one of the largest undeveloped gold deposits in Australia, sits on granted Mining Leases and is positioned at the heart of Australia's gold mining industry.

The company is led by a proven team of project developers and operators. The 4.5Moz Resource reinforces the potential for a low cost, open-pit gold mining operation, producing ~200kozpa over a +10-year mine life. There is M&A appeal in a market characterised by well valued gold producers with strong balance sheets and appetites for growth.

Bell Potter has a speculative buy rating and 75 cents price target on its shares.

Ballard Mining Ltd (ASX: BM1)

Finally, Ballard Mining is a third ASX gold stock that Bell Potter is tipping as a best buy.

It likes the company due to its Baldock project, which it believes has significant potential and could make it a takeover target. It said:

We summarise Ballard Mining's strategy for driving value as one focused on developing the current Baldock project (930koz at 4.1g/t Au) into a standalone operation, whilst simultaneously growing the Resource and Reserve base via targeted exploration. Baldock is covered by a granted mining lease, allowing for expedited development in a rising gold market.

Near-term catalysts include infill drilling and a maiden Ore Reserve estimate to support the first 5-6 years of operations, and a feasibility study (BPe Mid CY26). We believe over time this will lead to a re-rate in value and/ or make BM1 an attractive corporate target.

Bell Potter has a speculative buy rating and $1.05 price target on its shares.

The post Bell Potter names the best ASX gold stocks to buy in 2026 appeared first on The Motley Fool Australia.

That's because analysts at Morgans have just upgraded these names to buy ratings with big return potential. Here's why it is bullish on them:

Minerals 260 Ltd (ASX: MI6)

This gold developer's shares could be in the buy zone according to Morgans following the release of the highly anticipated mineral resources estimate (MRE) update for its Bullabulling Gold Project.

The broker believes the MRE positions Bullabulling to become a ~200,000 ounces per annum operation over ~15 years.

In response, the broker has upgraded Minerals 260's shares to a buy rating with a vastly improved price target of $1.10. This implies potential upside of 180% from current levels.

Commenting on the gold explorer, Morgans said:

MI6 has released the highly anticipated MRE update for its flagship Bullabulling Gold Project. Bullabulling now hosts 130Mt at 1.0g/t Au for 4.5Moz, a material beat on our prior upside case of 3.5Moz. Importantly, a high degree of the resource (3Moz or 67%) remains in the 'indicated' category and underpins our updated forecasts and future pre-feasibility studies (PFS) – due mid CY26.

Given the updated scale, we now see clear line-of-sight to a ~200kozpa operation over ~15 years (previously 160–170kozpa), which we model via a staged mill expansion from 5Mtpa to 7Mtpa. Bullabulling now positions MI6 as the largest single-asset, undeveloped gold resource in Australia outside the established producer cohort, and we view it as a must-own stock. We upgrade our rating to BUY (from SPECULATIVE BUY) and increase our price target to A$1.10ps (previously A$0.55ps).

NextDC Ltd (ASX: NXT)

Another ASX stock that Morgans has become bullish on is data centre operator NextDC.

In response to new contract wins and recent share price weakness, the broker has upgraded the company's shares to a buy rating with a $19.00 price target. This suggests that upside of more than 40% is possible from current levels. It said:

NXT has announced that following recent customer contract wins, presumably including a large single customer contract win across multiple locations, its contracted utilisation has increased by 71MW to 316MW as at 1 December 2025. Further contract wins were, and remain in, our forecasts so this mostly underpins our expectations.

However, we upgrade our capex assumptions and lift our FY27/28 EBITDA forecasts by 5%. Our target price remains $19 per share. The share price has declined ~19% in the last three months and given a ~40% differential between the current share price and our $19 target price we upgrade our recommendation to BUY from ACCUMULATE.

The post Morgans just upgraded these ASX stocks to buy ratings (with huge upside!) appeared first on The Motley Fool Australia.

The stock has more than quadrupled over the past year, hitting 43.5 cents in early trade on Tuesday, up from a 12-month low of just 10 cents, with the shares trading at low levels until about the start of September.

Project shaping up well

The company published an updated minerals resource for its BullaBulling gold project, 25km west of Koolgardie in WA, on Monday, with the amount of contained gold doubling to 4.5 million ounces.

The company said the mineral resource estimate of 4.5 million ounces was at a grade of 1 gram per tonne of ore, and had more than doubled from the previous estimate of 2.2 million ounces.

The company also said exploration drilling had confirmed extensions of the mineral resources at depth across four deposits, "supporting an increased depth of about 100m in some areas of the pit shell''.

The mineral resource was calculated using a gold price of $4500 per ounce of gold and a cut-off grade of 0.4 grams per tonne.

The company said it would continue drilling at the project "to target mineralisation at depth and along strike with a further mineral resource estimate planned in calendar year 2026''.

More growth targeted

Minerals 260 Managing Director Luke McFadyen said the upgrade was pleasing.

This is an exceptional outcome for the company and our shareholders, just seven months after acquiring BullaBulling. When we acquired the asset, we believed there was a significant opportunity to grow the mineral resource estimate through an aggressive drilling campaign and improving the understanding of the geology. By doing this we have been able to add 2.2 million ounces and validate the previous mineral resource estimate, doubling the mineral resource estimate to 4.5 million ounces and establishing Bullabulling as one of the leading gold projects in Australia.

Mr McFadyen said the company had a pre-feasibility study underway, which was on track for completion next year.

The company had also recently employed new Chief Operating and Development Officers, and the engagement of an engineering contractor was "imminent'', he said.

Mr McFayden added:

Minerals 260 is building significant momentum towards its goal of becoming a major gold producer, targeting first production in late-2028.

In more positive news for the company, Bell Potter recently issued a research note putting a speculative target price of 57 cents on the shares.

Minerals 260 was valued at $892.5 million at the close of trade on Monday.

The post This gold developer's shares are hitting record highs, up 300% for the year. Find out why appeared first on The Motley Fool Australia.

That's because if you have a high tolerance for risk, then Bell Potter thinks you should be snapping up the ASX gold stock in this article.

Which ASX gold stock?

The stock in question is Minerals 260 Ltd (ASX: MI6).

It is a Perth-based exploration and development company behind the Bullabulling Gold Project.

Bullabulling is a past-producing gold mine located near Coolgardie in Western Australia, with a mineral resource estimate of 2.3Moz at 1.2g/t Au.

What is the broker saying?

Bell Potter notes that a major catalyst is on the horizon which could give this ASX gold stock a massive boost.

That catalyst is the release of a resource update on the Bullabulling Gold Project, which is due imminently. The broker said:

MI6 is on track for a Resource update at its 100%-owned Bullabulling Gold Project (BGP), 25km west of Coolgardie in Western Australia. It has made excellent progress with the major Resource drilling program underway at the BGP.

Earlier this year the program was expanded from 80,000m to 110,000m and the company guided that +90,000m of this should make it into the next Resource update. This has consistently been guided for early December 2025 and was reiterated at the recent AGM. In our view, this is likely to be a major, positive catalyst for MI6 and could be delivered as early as next week. MI6 has $43m cash and is funded to FID in early 2027.

Bell Potter believes that the current BGP resource has potential to grow strongly given the company's major drill program. It adds:

Since acquisition, MI6 has undertaken a major drill program which has extended mineralisation at depth across all deposits, confirmed continuity of mineralisation at depth, extended mineralisation along strike, confirmed continuity between some deposits and will (likely) upgrade confidence categories. Combined with higher metallurgical recoveries and a higher gold price, we anticipate pit shells to be drawn lower and capture the majority of the historic and extended Resource, supporting substantial Resource growth at the BGP.

Time to buy

According to the note, the broker has put a speculative buy rating and 57 cents price target on the ASX gold stock. Based on its current share price of 34 cents, this implies potential upside of 68% for investors over the next 12 months.

Commenting on its speculative buy recommendation, Bell Potter said:

MI6 offers gold exposure via the 2.3Moz Bullabulling Resource, valuation uplift through discovery success and further Resource growth, project advancement and de-risking as the BGP progresses towards production. There is also potential M&A activity in a market characterised by well valued gold producers with strong balance sheets and appetites for growth. We retain our Speculative Buy recommendation and our Valuation of $0.57/sh.

The post This speculative ASX gold stock could rise 65%+ appeared first on The Motley Fool Australia.

While that may sound ominous, it's usually good news for shareholders.

If you've ever owned a stock that was subject to a takeover bid, you'll know that the offer tends to be above the current share price. And that following negotiations, a potentially even sweeter offer may land on the table.

It doesn't always work out that way. And deals aren't always reached. Like the XRG consortium's recent last-minute withdrawal of its US$30 billion bid for Santos Ltd (ASX: STO) shares, for example.

But when acquisitions do go through, it tends to favour existing shareholders.

Which brings us to two ASX gold shares recently highlighted as prime takeover targets by Argonaut's executive chairman and co-founder, Eddie Rigg.

ASX gold shares primed for acquisition

Rigg bases his expectations for more mergers and acquisitions for the developing ASX gold shares on the surging gold price.

Gold is currently trading for US$3,856.79 per ounce, according to data from Bloomberg. That's less than US$10 per ounce below Wednesday's new all-time high gold price. And it sees the yellow metal up a blistering 45.1% since this time last year.

And Argonaut believes the gold bull run has a long way to run yet.

Earlier this week, Argonaut lifted its gold price forecast to US$4,500 per ounce. That's almost 17% above the current gold price.

And with the big ASX gold miners booking record profits and flush with cash, Rigg believes they'll be on the hunt for new assets.

"Not many of the developers will get to develop their assets because the gold mining companies have so much free cash that they will go and buy these developers in a heartbeat," he said.

And he named two ASX gold shares that he thinks are "absolute targets".

"Companies like Minerals 260 Ltd (ASX: MI6) and Ballard Mining Ltd (ASX: BM1). They are absolute targets," he said.

How have these gold miners been performing?

Both Minerals 260 and Ballard Mining have handsomely rewarded shareholders already in 2025.

How handsomely?

Well, the Ballard Mining share price is up 85% year to date, and the Mineral 260 share price has rocketed 100%, smashing the 10% returns delivered by the All Ordinaries Index (ASX: XAO) over this same period.

And if they find themselves the subject of takeover negotiations, as Rigg expects, these ASX gold shares could keep charging higher.

The post 2 ASX gold shares tipped as prime takeover targets appeared first on The Motley Fool Australia.

For example, the S&P/ASX All Ords Gold index is up an incredible 80% since the start of the year thanks to a rampant rise in the price of the precious metal.

And while Minerals 260 Ltd (ASX: MI6) shares are up 75% over the same period, one leading broker believes the ASX gold share could still rise materially from current levels.

What is being said about this ASX gold share?

The team at Bell Potter is feeling particularly bullish on this small cap gold developer following the release of drilling data from the 100%-owned Bullabulling Gold Project in Western Australia.

The broker believes that this suggests that there will be a big increase to its mineral resource when its update is released before the end of the year. It said:

MI6's 100%-owned Bullabulling Gold Project (BGP) continues to strengthen its credentials as a compelling gold development project. Recent drill results have extended the Resource along strike and at depth, returned some of the highest grades and gram-metre intersections in the project's history and, in our view, increased optionality by showing potential for underground mining as grades increase with depth.

These results will be included in a Mineral Resource update targeted for December 2025. We anticipate a substantial increase in contained ounces at likely higher grades. Our analysis indicates Bullabulling offers strong leverage to higher grades, with a hypothetical 17% increase in grade driving a 26% increase to our standalone project valuation and an increase in modelled project EBITDA margins from ~54% to ~67%.

Big returns

Despite rising strongly this year, Bell Potter believes the ASX gold share is being undervalued by the market. Though, it concedes that it is a higher risk option and unsuitable for the average investor.

According to the note, the broker has retained its speculative buy rating and 34 cents price target on its shares. Based on its current share price of 21 cents, this implies potential upside of 62% for investors over the next 12 months.

Commenting on its buy recommendation, Bell Potter said:

MI6 offers gold exposure via the 2.3Moz Bullabulling Resource, valuation uplift through discovery success and further Resource growth, project advancement and de-risking as the BGP progresses towards production. There is also potential M&A activity in a market characterised by well valued gold producers with strong balance sheets and appetites for growth. We retain our Speculative Buy recommendation and Valuation of $0.34/sh.

The post Don't miss out on this ASX gold share which could rise 60%! appeared first on The Motley Fool Australia.

That's because they have been named as the best to buy for FY 2026 by analysts at Bell Potter. Here's what it is recommending to clients:

Minerals 260 Ltd (ASX: MI6)

This small cap ASX gold stock could be a buy in FY 2026. It is an exploration and development company that recently completed the transformational acquisition of the Bullabulling Gold Project (BGP) in Western Australia.

The broker is a big fan of BGP and sees potential for it to become a major low cost operation. It said:

With a Mineral Resource Estimate of 2.3Moz at 1.2g/t Au it is one of the largest undeveloped gold deposits in Australia, sits on granted Mining Leases and is in the heart of Australia's gold mining industry. The company is led by a proven team of project developers and operators and we see potential for a low cost, openpit gold mining operation producing 130-150kozpa over a 10-year mine life. The asset is also strategically attractive in a highly active gold asset M&A market and rising gold price environment.

Bell Potter has a speculative buy rating and 28 cents price target on its shares.

Santana Minerals Ltd (ASX: SMI)

Another ASX gold stock that makes the list is Santana Minerals. It is a gold explorer and developer focused on the Bendigo-Ophir Gold Project (BOGP) in New Zealand.

Bell Potter believes that BOGP is emerging as one of the most attractive gold development projects of this scale on the ASX. It said:

Bottom quartile costs, conventional mining and processing methods and an initial 10-year mine life on Reserves alone make it attractive for both debt and equity financing. An optimised PFS is expected to further improve its operating and financial metrics. It is well funded and about to commence seeking approvals through New Zealand's new Fast Track Approvals scheme. This could see the BOGP approved by end CY25.

The broker has a speculative buy rating and $1.30 price target on its shares.

Evolution Mining Ltd (ASX: EVN)

Finally, Bell Potter has named Evolution Mining on its best buy list for the new financial year.

Though, it is worth highlighting that the broker currently only has a hold rating on its shares with an $8.10 price target. It explains:

We have Hold ratings across much of our gold production coverage, but feel a producer should still be included in the current market. We select EVN on the basis of its unhedged exposure to the gold price, strengthening balance sheet, increasing free cash flows (has passed its CAPEX peak and, in our view, is an unlikely potential acquiror), undervalued copper production exposure and what we expect to be an increasing dividend stream in an elevated gold price environment.

A strong management team and track record of delivery to guidance make EVN one of the go-to gold exposures on the ASX – a position we believe is justified.

The post Bell Potter names the best ASX gold stocks to buy in FY26 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 dropping:

Austin Engineering Ltd (ASX: ANG)

The Austin Engineering share price is down 3.5% to 41.5 cents. This is despite there being no news out of the mining services provider. However, as it is considered a value stock on a low price to earnings ratio, which have fared better than most during recent volatility, it could have been left behind in today's rally.

Magnetic Resources NL (ASX: MAU)

The Magnetic Resources share price is down 4% to $1.34. This may have been driven by profit taking after its shares raced higher on Wednesday. Investors were buying the company's shares after it revealed strong drilling results. Management advised that a new composite comprising diamond drill core from the deeper section of the deposit demonstrated a 97.5% recovery with the optimised flotation circuit. Management believe that this is a spectacular increase over the potential recovery achieved with conventional gravity/leach of 88%.

Meridian Energy Ltd (ASX: MEZ)

The Meridian Energy share price is down 1% to $5.32. This appears to have been driven by investors rotating out of safe haven assets to take advantage of the market rebound. As a utility stock, Meridian Energy is a popular option for investors when the share market goes through a heightened levels of volatility.

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price is down 15% to 11 cents. This follows news that the gold developer has successfully completed a $220 million capital raising to underpin the 100% acquisition and advancement of the Bullabulling Gold Project in Western Australia. Management notes that the capital raise was completed following strong support from new international and domestic institutions, in addition to support from existing shareholders. Each Minerals 260 director and all key management participated in the raising, with total contributions of $12.7 million, including $12 million invested by the company's chairman, Tim Goyder, and his nominees. Goyder said: "The successful completion of this capital raising is a significant achievement for the Company. The raising was strongly supported by both global and domestic institutions and our existing shareholders. Minerals 260 is now in a position to complete the acquisition of the Bullabulling Gold Project, re-commence trading on the ASX and begin our aggressive drilling campaign."

The post Why Austin Engineering, Magnetic Resources, Meridian Energy, and Minerals 260 shares are tumbling today appeared first on The Motley Fool Australia.

While the All Ordinaries Index (ASX: XAO) is down 1.1% in afternoon trade, this ASX lithium stock and rare earths explorer is up 18.1% at time of writing, having earlier posted gains of 24.1%.

That saw the Minerals 260 share price up a remarkable 163% over the past 12 months. The stock is currently still up a stellar 154% over the full year.

Here's what's driving investor interest in the ASX lithium share today.

What's driving investor interest in this ASX lithium share?

Investors are bidding up the Minerals 260 share price after the resource explorer updated the market on progress at its Aston Project, located in Western Australia.

The ASX lithium share reported that field work at the project is progressing on schedule. Minerals 260 acquired Aston earlier this year. The project spans some 1,700 square kilometres.

The miner said that historic stream sampling results confirm a strong lithium anomalism that coincides with a strike extension of the mineralised trend defined by explorers on neighbouring tenements. Some 6 kilometres of that extension continue onto Mineral 260's Aston Project.

Fuelling investor interest today, the explorer said that its preliminary reconnaissance has confirmed the presence of numerous pegmatite outcrops. Of the 624 reconnaissance soil samples collected to date, assays confirmed a strong lithium (as well as tantalum and rubidium) anomalism.

Commenting on the results sending the ASX lithium share soaring today, Minerals 260 managing director David Richards said:

Our systematic and multi-pronged approach at Aston is progressing well and we have been very encouraged by what the team is observing in the field. We look forward to continuing this work and updating the market with additional news as soon as possible.

The company said that assays are still pending for approximately 1,400 geochemical samples. Fieldwork is ongoing.

Minerals 260 share price snapshot

The Minerals 260 share price has gone from strength to strength over the past year, and that's continued into 2023.

Since the opening bell on 3 January, the ASX lithium share has gained 95%.

The post Up 163% in a year, why this ASX lithium share is surging 24% today appeared first on The Motley Fool Australia.

While the All Ordinaries Index (ASX: XAO) remains slightly in the red during the Friday lunch hours, investors are rewarding these mining stocks after they both announced promising new discoveries.

One involves lithium, and the other platinum group elements (PGE).

So, without further ado…

ASX mining share leaps higher on lithium intersection

The first ASX mining stock that's surging today is St George Mining Ltd (ASX: SGQ), with shares up 8.3%.

This comes after the explorer confirmed it has intersected more high-grade lithium in rock chip samples, with up to 3.25% Li2O, at its Mt Alexander Project in Western Australia.

St George said that this first drilling at the Jailbreak Prospect confirms that lithium-bearing pegmatites extend below surface.

The reverse circulation (RC) drilling is the first phase of the ASX mining share's drill program at the Jailbreak Prospect. A diamond drill rig is scheduled to arrive within days to test for deeper extensions to the mineralised pegmatites.

Commenting on the results, St George Mining's executive chairman, John Prineas said:

The latest assays for rock chip samples have delivered our highest-grade lithium values at Jailbreak, providing further validation of the potential for pegmatite-hosted lithium mineralisation at Mt Alexander. Significantly, the high-grade assays now extend across five pegmatites mapped across a broad area.

Which brings us to the second ASX mining share that's flying higher today.

Palladium and platinum grab investor interest 

The Minerals 260 Ltd (ASX: MI6) share price is up 14.5% after the miner reported on the final assays from the June RC drill campaign at its Moora Project located in Western Australia.

According to the release, the results from the final RC holes confirmed the potential of the Moora Project to host palladium and platinum mineralisation.

Minerals 260 said it's on track to commence a 10,000 to 15,000 metre drilling program by mid-November.

Commenting on PGE results sending the ASX mining share higher today, managing director David Richards said:

We have always been confident that the Moora and Koojan Projects are prospective for PGE mineralisation analogous to that discovered further south in the Julimar Mineral Province. The intersection of highly anomalous PGE and copper values coincident with a large gravity high confirms this view.

The post 2 ASX mining shares surging higher on new discoveries appeared first on The Motley Fool Australia.

The benchmark S&P/ASX 300 Metals and Mining Index (ASX: XMM) is up 9% over the past month after a 5.1% gain this past week.

Meanwhile, these 3 ASX mining shares have clipped a more than 20% gain in today's session.

Tempus Resources Ltd (ASX: TMR)

Shares in ASX small cap Tempus have rocketed 52% after the company announced it had intersected gold at its Elizabeth Gold Project.

Tempus said it had received assay results for the first three drill holes of its 2022 drilling campaign at Elizabeth.

One drill hole "returned 'bonanza' grades including the best intersection ever encountered at Elizabeth Gold Project." Assays over widths of up to 1.7 metres in multiple intersections were found.

Tempus Resources President and CEO, Jason Bahnsen said "the spectacular grades are a cause for celebration given the Blue Vein was only discovered late last year…"

Tempus shares are down 17% this year to date and have recently bounced along 52-week lows since July.

DevEx Resources Ltd (ASX: DEV)

DevEx shares have tracked 28% into the green today following a company update regarding its Nabarlek Uranium Project in the Northern Territory.

The company advised that initial diamond drilling has intersected high-grade uranium mineralisation at the site.

Hole number two intersected 10.7 metres @ 1.2% eU3O8 from 123.4 metres, including 3.2 metres @ 3.1% eU3O8. Meanwhile, Hole number four intersected 9.1 metres @ 0.15% eU3O8 from 50.5 metres.

Both finds extend the previously known uranium mineralisation a further 25 metres down-plunge from the historical intercepts.

DevEx Managing Director, Brendan Bradley said drilling at the Nabarlek site "is off to a flying start" following the discoveries.

"The historic Nabarlek uranium mine has shown that these high-grade deposits can exist within a
lens of between 30m and 75m in length," he added.

DevEx shares have soared 60% into the green over the past 12 months.

Minerals 260 Ltd (ASX: MI6)

The final ASX mining share pushing 20% or more today is Minerals 260. It is up 20% to 33 cents in late afternoon trading.

Investors have rallied the stock today on no news. Noteworthy, however, is that both gold and copper prices have reversed off their 52-week lows and have retraced a small percentage of gains.

As seen on the chart below, the ASX miner is sensitive to movements in the underlying metals markets it is exposed to. Six-month returns are shown below.

With that in mind, it stands to reason that strength in the gold and copper markets has transferred to Minerals 260.

Since listing last October, the Minerals 260 share price has clipped a 45% loss.

The post 3 ASX mining shares rocketing by more than 20% today appeared first on The Motley Fool Australia.

Investors are responding well to an announcement out of the company's camp today regarding its 100%-owned Moora project, located approximately 150km northeast of Perth.

What did Minerals 260 announce?

The Minerals 260 share price is surging after the company advised it has received assays for a further nine holes from the recently completed drilling program at the Moora site. The findings confirm a wide copper-gold zone at the project.

According to Minerals, the Moora project forms part of a contiguous, 1,000km2 land position that also includes the Koojan venture with Lachlan Star Ltd (ASX: LSA) next door.

Earlier in January, Minerals 260 completed a 37-hole diamond core and reverse circulation (RC) drilling program for a total of 6,196 metres on various anomalies at the site.

Results from the Mynt prospect show mineralisation was intersected at 24m at 1.9% copper and 0.7 grams of gold per tonne from 99-123m.

"[The] mineralisation hosted by a quartz-veined zone with disseminated to semi-massive chalcopyrite and pyrrhotite," Minerals 260 said.

Minerals 260 also notes the presence of mineralisation with "significant geochemical and geophysical anomalies" indicates the potential for a large sulphide-related system.

Assays received for a further eight drill holes at another prospect located on the site confirm the continuity of gold mineralisation. This has now been intersected on five sections over 400 metres of strike in all directions.

Management commentary

Speaking on the news fuelling the Minerals 260 share price today, managing director David Richards said:

The recent drilling and geophysical results continue to highlight the potential for large mineralising systems at Moora and Koojan. While we still have a lot of assay and other data to review and analyse, we are developing a clearer understanding of the priority areas for follow-up drilling.

One is clearly the exciting new copper-gold zone delineated at the Mynt prospect, where geophysics indicates potential for a significant mineralised system. The other is at Angepena, where we have now delineated significant gold mineralisation over an extensive area.

Minerals 260 share price snapshot

Since listing last year the Minerals 260 share price has gained 12%. It is also up 5.6% this year to date.

During the past month, its shares are up 1.8% and they have exploded by almost 32% over the past week.

The post Mission possible: Why this ASX mining share is surging 17% today appeared first on The Motley Fool Australia.

Below we take a look at the ASX resource explorer's project update that looks to be spurring investor interest.

What project update was announced?

The Minerals 260 share price is soaring after the company reported it is speeding up exploration work at its Moora and Koojan JV projects.

Both projects are located in Western Australia's Julimar Mineral Province. Minerals 260 is the 100% owner of Moora and in a joint venture (JV) with Lachlan Star Limited (ASX: LSA) at Koojan. The Lachlan share price is up 11% today.

Minerals 260 has so far drilled 6 diamond core holes at its Angepena gold prospect in Moora. Drilling commenced on 4 November to follow up on promising gold intersections struck earlier this year.

Assays are still pending for all 6 holes drilled with initial results expected in January. The company plans to drill 7 more diamond core holes at Angepena totalling some 2,000 metres. That should also be completed in January.

Minerals 260 has also recently commenced a reverse circulation (RC) drilling program at the project. It plans to drill up to 35 holes for approximately 5,000 metres.

Commenting on the announcement likely pushing up the Minerals 260 share price today, managing director David Richards said:

Diamond drilling has confirmed the presence of mafic/ultramafic hosted sulphide-related mineralisation and highlighted the exciting potential, not only of the Mt Yule magnetic anomaly but also the rest of the projects – where numerous targets remain to be tested.

While it is early days, we are very encouraged by what we are seeing in the Angepena drill core. However, we caution investors that until assays are received, we cannot draw any conclusions. Our objective is to build on the exploration data collected so far and systematically work towards the opportunity for a significant discovery.

The company has $6.7 million in the budget for its first 12 months of exploration following its 12 October listing on the ASX.

Minerals 260 share price snapshot

Minerals 260's initial public offering (IPO) raised $30 million at a listing price of 50 cents per share.

The Minerals 260 share price leapt higher that day to close at 60 cents and reached an all-time closing high of 77 cents per share on 15 November. Since then shares have retraced.

Since the closing bell on its first day of trading, Minerals 260's shares are down 10%.

The post Here's why the Minerals 260 (ASX:MI6) share price is leaping 10% today appeared first on The Motley Fool Australia.

Minerals 260 shares have rallied from the open to trade as high as 74 cents, before reversing course to the current market price.

Investors have been bidding up the Minerals 260 share price following a company announcement on its 100% owned Moora Gold-PGE-Nickel-Copper project in WA.

The company has started its inaugural drilling program since demerging from Liontown Resources Ltd (ASX: LTR) and listing on the ASX in October 2021.

Here are the details.

What is Minerals 260?

The company was listed on the ASX after a successful demerger from Liontown where it raised $30 million via an initial public offering (IPO). This saw the creation of Minerals 260.

It was formed to contain Liontown's non-lithium assets, which include Moora and the Koojan Project located in southwest Western Australia.

That was on 12 October and since then, the Minerals 260 share price has climbed more than 35%, roaring off a low of 45.5 cents last week to its new high today.

At the time of writing, Minerals 260 has a market capitalisation of almost $153 million.

What was announced?

Minerals is set to commence its first drilling program at the Moora project, located around 150km northeast of Perth.

The Moora project forms part of a 1,100km square land package that also includes adjacent projects to the Angepena prospect.

A 3,500 metre diamond core drilling program is designed to follow up on intersections reported earlier this year from the Angepena gold prospect.

Those results showed an intersection of gold at various depths and with various concentrations in the samples.

Diamond core drilling at the site will now determine the style, orientation and continuity of the mineralisation.

Geological data obtained will then be used to plan a 6,000m reverse circulation (RC) drilling program, due to start this month.

In addition to drilling at Angepena, Minerals 260 also intends to undertake follow up drilling at other targets and complete a low-level "aeromagnetic survey to better define prospective mafic/ultramafic units obscured by transported cover".

The results of all works to be completed will be used to plan further drilling programs, Minerals 260 says.

Minerals 260 share price snapshot

Investors are rallying for a spot in the newly-formed minerals explorer, with total volume traded so far today reaching 2,715,603 shares – 46% above its 4-week average since listing.

After its 35% return since 12 October, early investors will be happy as this gain is well ahead of the S&P/ASX 200 Index (ASX: XJO)'s climb in that time.

Shares in Liontown Resources are also trading up 6.05% on the day at $1.665 apiece.

The post Why is the Minerals 260 (ASX:MI6) share price rocketing 21% today? appeared first on The Motley Fool Australia.