The S&P/ASX 200 Materials Index (ASX: XMJ), dominated by miners, rose 47% and delivered a total return, including dividends, of 52%.

The S&P/ASX 300 Metals & Mining Index (ASX: XMM) rose 53% and produced a total return of 59%.

Experts say there is more growth ahead for ASX mining shares, with 5 key elements underpinning the current commodities supercycle.

Here are two ASX mining shares with buy recommendations from Bell Potter.

The broker believes these two stocks have the potential to more than double in value in the new financial year.

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price is 63 cents, up 4.5% today and up 423% over 12 months.

The gold share was the second-fastest riser of the entire S&P/ASX 200 Index (ASX: XJO) in FY26. (See the top five here.)

Minerals 260 is a mineral explorer that is building the Bullabulling Gold Project in Western Australia.  

Bullabulling is one of Australia's largest near-term gold mines.

This week, Minerals 260 released an updated Mineral Resource Estimate (MRE) and the Pre-Feasibility Study (PFS) for Bullabulling.

The MRE increased 38% to 190Mt at 1.0g/t Au for 6.2Moz.

Bell Potter retained its speculative buy recommendation and lifted its 12-month target to $1.40.

This suggests Minerals 260 shares could more than double in FY27.

The broker said:

MI6 offers gold exposure via the 6.2Moz Bullabulling MRE, valuation uplift through discovery success, project advancement and de-risking as the BGP progresses towards production.

MI6 holds ~$250m cash, sufficient to fund to Final Investment Decision (FID) in early CY27, long-lead items and early site works.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is $12.31, up 2.5% today and down 24% over 12 months.

Bell Potter has a speculative buy rating on this S&P/ASX 300 Index (ASX: XKO) copper share with a $27.20 target.

This suggests WA1 Resources shares could also more than double in the new financial year.

The broker said:

WA1 Resources Ltd (ASX: WA1) has announced scaled-up beneficiation testwork results across four composites representing key Indicated Mineral Resource Estimate (MRE) zones at its 100%-owned Luni Niobium Project (Luni) in Western Australia.

The testwork confirms a two-stage flotation regime can produce high-quality niobium concentrates with commercially relevant recoveries across the deposit, using raw site water.

The testwork is a significant metallurgical data point and materially de-risks the beneficiation stage of the processing flowsheet.

The post 2 ASX mining shares that could more than double in value in FY27: experts appeared first on The Motley Fool Australia.

But what about the next 12 months?

Well, one ASX mining stock that is being tipped by Bell Potter to rise materially is named below.

Let's see why it could be destined to outperform the market by some distance between now and this time next year.

Which ASX mining stock?

The stock that is getting the team at Bell Potter excited is WA1 Resources Ltd (ASX: WA1).

It is a niobium explorer which owns the Luni Niobium Project in Western Australia.

Bell Potter has been pleased with recent developments and particularly the scaled-up beneficiation testwork results across four composites. It explains:

WA1 Resources has announced scaled-up beneficiation testwork results across four composites representing key Indicated Mineral Resource Estimate (MRE) zones at its 100%-owned Luni Niobium Project (Luni) in Western Australia. The testwork confirms a two-stage flotation regime can produce high-quality niobium concentrates with commercially relevant recoveries across the deposit, using raw site water. The testwork is a significant metallurgical data point and materially de-risks the beneficiation stage of the processing flowsheet.

Bell Potter was also pleased with the concentrate grades that were revealed. It adds:

The headline result is a weighted average concentrate grade of 44% Nb₂O₅ at 54% overall recovery across all four composites (open cycle, bulk float). Critically, Composite A, which incorporates material from the higher-grade portion of the resource area and that also represents the focus area for early years of mining, returned 46% Nb₂O₅ at 67% recovery, a significant uplift on prior results from this area. These results support an upward revision to our recovery assumptions and are directly feeding into the PFS, which remains on track for Q4 CY2026.

Big potential returns

According to the note, the broker has retained its speculative buy rating on the ASX mining stock with an improved price target of $27.20. Based on its current share price of $12.36, this implies potential upside of almost 120%. Bell Potter concludes:

We increase our valuation for WA1 to $27.20/sh (previously $24.40/sh) and maintain Our Speculative Buy recommendation. Our valuation for WA1 is based on a notional development scenario (NDS) for Luni discounted at 10% and risked at 30% to reflect the project's current stage. We revise our recovery assumptions in our model upward to 54%, which sees our unrisked NPV10% increase from A$1,814m to ~A$2,021m — an ~11% uplift. Key catalysts include: PFS completion and Reserve declaration, further beneficiation optimisation of Composites B– D, downstream refining results, and strategic partner/government engagement.

The post Which ASX mining stock could rocket 100%+ after 'breakthrough'? appeared first on The Motley Fool Australia.

WA1 listed on the ASX in February 2022. Since then, it has focused on an aggressive drill-out program at West Arunta, specifically targeting the Luni carbonatite structure. 

Niobium is a niche commodity, primarily micro-alloyed into structural steel to improve strength and reduce weight in applications.

In the last 12 months, this ASX materials stock has been relatively flat.

However a key announcement has led to a strong upgrade from the team at Bell Potter who now see this ASX materials stock as one that could double in the next 12 months. 

What happened?

WA1 has completed larger-scale processing tests on ore from its Luni niobium project. 

The tests showed the company can successfully concentrate the niobium into a high-grade product using a relatively simple flotation process and ordinary site water.

For investors, this is a big positive as one of the biggest risks for any mining project is whether the ore can actually be processed economically.

These results show that:

• The processing method appears to work consistently across different parts of the deposit.
• The quality of the concentrate produced is high enough to be commercially attractive.
• The project's future processing plant design is becoming more certain.

In mining terms, this "de-risks" the project because investors now have more confidence that the ore can be turned into a saleable product.

Standout results

The best area of the deposit (Composite A), which is expected to be mined first, delivered:

• 46% niobium concentrate grade
• 67% recovery rate.

Recovery rate means 67% of the niobium in the ore was successfully captured during processing.

This was better than previous test results and suggests the project could be more profitable than originally expected.

Because recoveries were stronger than expected, Bell Potter increased its assumption for how much niobium WA1 can extract from the ore.

Big upgrade for ASX materials stock

As a result, Bell Potter has upgraded its price target on this ASX materials stock to $27.20 (previously $24.40). 

This is significant because this ASX materials stock currently trades for around $12.50 per share. 

The new target from Bell Potter indicates an upside potential of 129%. 

The testwork confirms a two-stage flotation regime can produce high-quality niobium concentrates with commercially relevant recoveries across the deposit, using raw site water.

The broker has retained its speculative buy recommendation. 

The post Bell Potter tips 129% upside for this ASX materials stock appeared first on The Motley Fool Australia.

Among the 11 market sectors, consumer staples is in the lead today, up 3.3%.

The technology sector is the laggard, down 0.05%, and the only sector currently in the red.

Meanwhile, three brokers reveal their ratings and 12-month price targets on four ASX All Ords shares.

Let's check them out. 

James Hardie Industries Plc (ASX: JHX)

The James Hardie share price is one of the market's fastest risers today, up 3.8%, ahead of its 4Q FY26 results tomorrow.

James Hardie shares are trading at $27.10 apiece at the time of writing.

Morgan Stanley has reiterated its buy rating on this ASX All Ords materials share.

It has a price target of $44, suggesting 62% potential upside ahead.

Xero Ltd (ASX: XRO) 

The Xero share price is $79.11, up 1.3%, as it recovers from last week's bashing.

Xero shares fell 8.6% after the company released its full-year FY26 results last Thursday.

In the same week, Xero also overtook Wisetech Global Ltd (ASX: WTC) as the biggest ASX All Ords tech share by market cap.

Xero reported a 27% fall in net profit after tax (NPAT) for FY26, largely due to the Melio acquisition.

Melio is a big part of Xero's expansion strategy in the US. For FY26, US revenue rose 240%, or 30% on a pro-forma basis.

UBS has reiterated its buy rating with a $127 price target, implying 60% upside ahead.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is $14.38, down 1.8% on Tuesday.

The ASX All Ords copper share fell 3.4% last week, despite the copper price reaching a record US$6.60 per pound on Wednesday.

Bell Potter has maintained its speculative buy rating on WA1 Resources shares with a $24.80 target.

This suggests potential capital growth of almost 75% over the next 12 months.

Minerals 260 Ltd (ASX: MI6)

The Minerals 260 share price is 81 cents, down 0.6% today.

This ASX All Ords gold share has had an amazing run, rocketing 479% over the past 12 months.

The mineral explorer is building the Bullabulling project, and has just awarded a contract for its 400-staff village.

Bell Potter said:

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 Final Investment Decision (FID) in early CY27, long-lead items and early site works.

The broker has a price target of $1.35, indicating more than 65% upside ahead.

The post 4 ASX All Ords shares tipped to rise 60% to 75% appeared first on The Motley Fool Australia.

If you are, and have a higher tolerance for risk, then it could be worth checking out the ASX mining stock in this article.

That's because Bell Potter believes it is on track to deliver big returns and equally big profits in the near future.

Which ASX mining stock?

The stock that Bell Potter is tipping as a buy is WA1 Resources Ltd (ASX: WA1).

It is the niobium-focused mineral exploration company behind the West Arunta project in Western Australia.

Bell Potter notes that since its listing, WA1 Resources has focused on an aggressive drill-out program at West Arunta, specifically targeting the Luni carbonatite structure.

Niobium is considered to be a critical mineral by both the United States and European Union due to supply concentration and economic importance.

Bell Potter was pleased with the recently updated mineral resource estimate (MRE) for the Luni deposit. It said:

The total MRE tonnage for Luni was already established and widely understood, what this update importantly delivers is the conversion of Inferred material into the Indicated category. At 57% of contained niobium now sitting in Indicated, WA1 has crossed a material threshold in terms of resource maturity and provides a platform for Ore Reserve declaration, pre-feasibility study completion, and ultimately, project financing. The Indicated high-grade subset represents a meaningful improvement in tonnage and grade versus the prior update.

This material is expected to anchor the initial mine schedule and underpin any starter operation economics. Our base case assumes a staged development, beginning with a 0.5Mtpa operation (5yrs) processing ore at average grade of 2.5% Nb₂O₅, scaling to 1.0–1.5Mtpa over the following decade. The high-grade Indicated subset as it now stands is sufficient to support that schedule.

Based on this, Bell Potter believes the company is well-placed to start generating sales and profits in FY 2028.

It is forecasting sales of $491.8 million, EBITDA of $354.1 million, and a net profit after tax of $256.1 million.

Should you invest?

According to the note, Bell Potter has retained its speculative buy rating and $24.80 price target on the ASX mining stock.

Based on its current share price of $16.17, this implies potential upside of 53% for investors over the next 12 months.

Commenting on its recommendation, the broker said:

We maintain our Speculative Buy recommendation with a $24.80/sh valuation (unchanged). Our valuation is based on a Notional Development Scenario (NDS) for Luni, discounted at 10% and risked at 30% to reflect the project's current stage. Key catalysts for higher valuations and share price re-rating include: eastern zone assay results, Measured classification, PFS/Reserve declaration and potential MRE increase from eastern AC extensions.

The post This ASX mining stock tipped to rise 50% could make a profit of $250m in 2028 appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) is up more than 10%, while the S&P/ASX 200 Index (ASX: XJO) is relatively flat. 

However one ASX materials stock that has missed out on this outperformance is WA1 Resources Ltd (ASX: WA1). 

The copper exploration company has seen its share price fall more than 17% since January. 

Earlier this week, the company enjoyed a 7% rebound following the release of its March 2026 Quarterly Activities and Cash Flow Report.

What did the company report?

Investors were seemingly pleased with the reported cash balance of approximately $131 million as at 31 March 2026. 

Additionally, progress continued across WA1's key project workstreams that are expected to drive future value catalysts. Most notably, drilling continued to generate data for the June 2026 MRE update. 

This led to a share price spike on Monday. 

Following the report, the team at Bell Potter also released updated guidance on this ASX materials stock. 

Here's what the broker had to say. 

Upside remains according to Bell Potter

The team at Bell Potter said from an operational perspective, 3QFY26 was a relatively quiet quarter. 

The company ended the quarter with A$131.5m in cash (vs A$138.5m in 2QFY26). Operating activities totalled A$5.7m.

Most notably, drilling continued to generate data for the June 2026 MRE update, where we expect both an increase in overall resource tonnage and an improvement in resource confidence categories, providing a stronger platform for the next phase of technical studies.

Encouragingly, high-grade intercepts reported both within and adjacent to the current MRE footprint indicating the MRE has not yet been fully delineated, supporting the view that further upside remains.

Price target intact 

The team at Bell Potter retained their speculative buy recommendation on this ASX materials stock, along with a price target of $24.80. 

From yesterday's closing price of $15.88, this target indicates an upside potential of 56%.

We retain our Speculative Buy recommendation and $24.80/sh valuation. WA1 is progressively de-risking Luni, where we remain of the view that Luni is a world class niobium asset, with the potential to emerge as the most credible Tier-1 niobium supply source outside Brazil. 

Success across metallurgical optimisation, resource expansion, improved feasibility study outcomes and supportive critical minerals market tailwinds represent a clear pathway to higher valuations and share price re- rating.

The post Bell Potter says this beaten-down ASX materials stock can rise 56% 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:

Atlas Arteria Group (ASX: ALX)

The Atlas Arteria share price is up almost 14% to $4.92. Investors have been buying the toll road operator's shares after it received a takeover offer. The company revealed that IFM has made an unsolicited offer at $4.75 per share in cash. However, it has also "indicated that the price will be increased to A$5.10 per security if the bidder's relevant interest in Atlas Arteria securities is 45% or more prior to the close of the Offer." Outside that, this is IFM's best and final offer. Atlas Arteria advised that it will consider and evaluate the offer and will update shareholders in due course.

Forrestania Resources Ltd (ASX: FRS)

The Forrestania Resources share price is up 2.5% to 51.7 cents. This has been driven by the release of drilling results for the gold explorer's British Hill, Mt Palmer and Johnson Range projects. The good news is that high-grade gold results were returned across all projects. Forrestania Resources' chair, David Geraghty, commented: "These encouraging results are improving our understanding of the geology and metallurgy across each project and support the next phase of drilling, as we move with intent to increase the size and potential of the British Hill, Johnson Range and Mt Palmer Mineral Resource Estimates."

Megaport Ltd (ASX: MP1)

The Megaport share price is up over 6% to $9.46. This morning, this network solutions company revealed that it has secured a three-year compute and storage contract with a total value of approximately US$25.1 million (A$35.4 million). Megaport's CEO, Michael Reid, said: "Securing a contract of this size reflects both the scale of the opportunities we see in the compute market, and our disciplined approach to deploying capital. We will continue to evaluate similar opportunities, investing alongside committed customer demand at compelling paybacks, ensuring capital is deployed after rigorous analysis while supporting the long-term growth of these markets."

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is up almost 7% to $16.17. This follows the release of the niobium developer's quarterly update. That update revealed that the company ended the period with a cash balance of $131 million. It also confirmed that all data inputs have been received for a mineral resources estimate update that is expected in the June quarter.

The post Why Atlas Arteria, Forrestania, Megaport, and WA1 shares are charging higher today appeared first on The Motley Fool Australia.

Energy prices and supply chain networks impact almost all corners of the global economy.

So it wasn't surprising to see a broad market sell-off over the first three weeks of March as multiple industries assessed the damage.

The sell-off now leaves room for investors to buy the dip.

A two-week ceasefire is underway amid hopes of a long-term deal between the US and Iran soon.

Brokers have reviewed their ratings after many shares fell, and they see good opportunities across a number of industries.

Here are some of the ASX All Ords shares elevated to strong buy consensus ratings after last month's turmoil.

6 ASX All Ords shares newly upgraded to strong buy ratings

These ASX shares have just been upgraded to strong buy consensus ratings among analysts on the CommSec platform.

A consensus rating represents the average rating among analysts.

Kingsgate Consolidated Ltd (ASX: KCN)

The Kingsgate Consolidated share price fell 38% in March alongside a big fall in the gold price.

In April so far, the ASX All Ords gold share is up 19% to $5.22 at yesterday's close.

MA Financial is among the brokers that have upgraded Kingsgate shares.

The broker also lifted its 12-month share price target from $6.85 to $6.95.

Pinnacle Investment Management Group Ltd (ASX: PNI)

The Pinnacle Investment Management share price fell 10% in March.

This month, the ASX All Ords financial shares is up 4% to $14.63.

Canaccord Genuity is buy-rated on Pinnacle shares with a $24.53 target.

Zip Co Ltd (ASX: ZIP)

The Zip share price fell 19% in March.

This month, the ASX All Ords financial share is up 19% to $1.84.

Blackwattle holds Zip shares in its Small Cap Quality Fund.

Portfolio managers Robert Hawkesford and Daniel Broeren describe Zip as 'one of the most compelling value opportunities on the ASX'.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price fell 20% in March.

This month, the ASX All Ords copper share is up 9% to $15.19.

Canaccord Genuity is buy-rated on WA1 Resources shares with a $32 target.

Macquarie Technology Group Ltd (ASX: MAQ)

The Macquarie Technology share price fell 12% in March.

In April so far, the ASX All Ords tech share is up 12% to $66.60.

Canaccord Genuity is also buy-rated on this stock with a $95 target.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price fell 27% in March.

This month, the ASX All Ords gold share is up 2% to 68 cents.

Shaw & Partners has a buy rating and a $2.15 target on Santana Minerals shares.

Further reading

Check out 7 ASX 200 shares just upgraded to strong buy ratings, too.

The post 6 ASX All Ords shares elevated to strong buy status after March sell-off appeared first on The Motley Fool Australia.

At the time of writing, the WA1 share price is down 8.33% to $14.31. The stock has also had a difficult start to the year and is now down roughly 27% since January.

Despite the pullback, the company still commands a market capitalisation of around $1.07 billion. It also remains one of the more closely watched exploration stocks on the ASX.

Here's what the company announced to the market today.

Half-year loss grows as spending ramps up

WA1 released its interim financial report for the 6 months to 31 December 2025.

The company reported a loss after income tax of $2.35 million for the period. This compares with a loss of $1.41 million in the prior corresponding period.

The increase in losses reflects ongoing spending across exploration, project development, and corporate costs as WA1 continues advancing its flagship niobium discovery.

Exploration spending remains a major focus for the business as it works to better define the scale and economics of its Luni project.

Although the company remains loss-making, this is normal for exploration companies at this stage of development.

Cash position strengthens significantly

One big positive in the report is the company's strengthened balance sheet.

WA1 ended the half-year with $138.5 million in cash and cash equivalents. This is a substantial increase from $72.8 million at 30 June 2025.

The improved cash position was largely supported by a capital raise during the period. In August last year, the company completed a placement that raised approximately $100 million from investors.

This funding gives WA1 a sizeable financial runway to continue drilling, resource definition, and development studies across its key projects.

Progress continues at the Luni niobium project

WA1 is continuing to focus most of its efforts on the Luni niobium project in Western Australia.

The discovery has attracted attention and is widely seen as one of the most significant niobium finds in recent years.

During the half-year, WA1 continued drilling across the project to better understand the deposit's size, grade, and overall potential. Much of the drilling targeted areas are believed to contain higher-grade material.

WA1 also released an updated mineral resource estimate (MRE) for the project, confirming the scale of the discovery.

The deposit currently contains 220 million tonnes of ore grading 1% niobium oxide, including a higher-grade portion of 53 million tonnes grading 2.2%.

The company has also been carrying out metallurgical test work. This process helps determine how the metal can be extracted from the ore and processed into products.

Early test results suggest the project could produce high purity niobium oxide and ferro niobium. These materials are commonly used to strengthen steel and produce special alloys.

What next for WA1?

WA1's strong cash position means it is well funded to continue drilling and advancing studies at the Luni project.

However, after the stock surged in recent years, investors may now be reassessing expectations around development timelines and the project's long-term economics.

That could help explain why the WA1 share price has pulled back in 2026.

The post This $1 billion ASX explorer just dropped 8%. Here's what happened appeared first on The Motley Fool Australia.

At the time of writing, the WA1 share price is down 1.26% to $17.27. The stock opened in the green but has since seesawed and slipped modestly into the red.

Let's take a closer look at what the company announced to the ASX.

Infill program lifts confidence in indicated resource

According to the release, WA1 said infill drilling at Luni continues to deliver strong niobium grades. The latest holes include new intersections located immediately next to the existing western indicated mineral resource estimate.

Some of the standout results were:

• 13.7 metres at 2.8% Nb2O5 from 54 metres
• 6.5 metres at 6.6% Nb2O5 from 56.5 metres
• 8.2 metres at 3.2% Nb2O5 from 152 metres
• 13.1 metres at 2.8% Nb2O5 from 143.9 metres
• 22 metres at 2.4% Nb2O5 from 67 metres
• 93.1 metres at 2.1% Nb2O5 from 67.8 metres

Drilling in the eastern indicated area also returned strong results, including 25.3 metres at 3% Nb2O5 and 12.4 metres at 6.1% Nb2O5.

Management said these results could allow more high-grade material to be upgraded into higher confidence categories. A revised mineral resource estimate is expected in the June quarter.

Resource update in focus

WA1 carried out a large drilling program at Luni in 2025 using both diamond and air core rigs. Since the project was discovered, about 85,000 metres have now been drilled, with more assay results still to come.

The diamond drilling has been aimed at better defining the existing mineral resource and increasing confidence in it. Infill holes were mostly drilled on a 50 metre by 50 metre grid in the eastern indicated area and a 100 metre by 100 metre grid in the western inferred area.

WA1 said the latest results show the high-grade mineralisation is consistent and help define its shape, thickness, and grade. More drilling and metallurgical test work is still underway as the company continues its development studies.

About WA1 Resources

WA1 Resources is an S&P/ASX 300 Index (ASX: XKO) company that explores and develops mineral projects in Western Australia and the Northern Territory. Its main project is the Luni Niobium Project, which forms part of the wider West Arunta region.

WA1 has a market capitalisation of about $1.3 billion and roughly 74.3 million shares on issue. Over the past 12 months, the share price has risen around 30%, showing strong investor interest in niobium discoveries in the West Arunta area.

Despite today's volatility, attention is expected to remain on the next resource update and upcoming drilling results.

The post WA1 shares wobble as new high-grade Luni results hit the market appeared first on The Motley Fool Australia.

So far this year, ASX mining shares have continued to outperform after an exceptionally strong run in 2025.

The Metal & Mining Index is up 13.9% in the year to date (YTD) while the broader S&P/ASX 300 Index (ASX: XKO) is up 2.7%.

Here are three ASX mining shares that the experts think will rise strongly over the next 12 months.

WA1 Resources Ltd (ASX: WA1)

This ASX copper mining share is $16.73 apiece, up 2.3% today.

WA1 Resources shares are down 12.9% in the YTD and up 25% over the past 12 months.

Copper is in high demand for all the new infrastructure required for the green energy transition and artificial intelligence (AI) revolution.

It's also attractive to investors seeking hard assets in today's growing debasement trade.

The copper price hit a new record above US$6 per pound earlier this year, and is currently up 24.5% over the past 12 months.

Canaccord Genuity has a buy rating on WA1 Resources shares.

The broker lifted its 12-month share price target from $28 to $32 apiece this month.

This implies a 91% potential upside over the next 12 months on the ASX copper mining share.

Check out Goldman Sachs' 2026 forecast for the copper price here.

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is 90 cents, down 4.3% today and up 58% over the past 12 months.

Santana Minerals is developing the Bendigo-Ophir Gold Project (BOGP) on the South Island of New Zealand.

Shaw & Partners has a buy rating and a 12-month share price target of $2.15 on this ASX gold mining share.

This suggests a possible near-140% capital gain over the next year.

In a recent note, the broker said:

Santana Minerals Limited (ASX:SMI) has announced that the Fast-Track Approval (FTA) Panel Convener has confirmed a 140 working-day statutory timeframe for determination of the Bendigo-Ophir Gold Project (BOGP), with a decision due by 29 October 2026.

The timeline is longer than expected (60-100 days) but now provides certainty in the process.

Development consent is now expected to be granted in H2 CY26. 

Santana Minerals announced the completion of a $113 million institutional capital raise today.

The funds will be used to accelerate the mine's development in preparation for a Final Investment Decision (FID).

The miner will seek to raise up to another $30 million from ordinary investors via a Share Purchase Plan.

Check out some 2026 gold price forecasts here.

Catalyst Metals Ltd (ASX: CYL)

This ASX gold mining share is $8.13 apiece, down 1.8% today.

Catalyst Metals shares are up 10.2% in the YTD and up 108% over the past 12 months.

Catalyst Metals owns the Plutonic gold mine in Western Australia and the Bendigo exploration project in Victoria.

In its 2Q FY26 update, Catalyst Metals announced record quarterly gold production of 28,176 ounces at Plutonic.

The average realised price was A$2,776 per ounce, and the average all-in sustaining cost (AISC) was A$2,565 per ounce.

Bell Potter has a buy rating on the ASX gold mining share and a price target of $14.60.

This implies an 80% potential upside over the next 12 months.

The post 3 ASX mining shares tipped to rise 80% to 140% this year appeared first on The Motley Fool Australia.

Meantime, brokers have identified some stocks that they think are good buys for the year ahead.

Let's check them out.

8 ASX All Ords shares with strong buy consensus ratings

The following stocks have been recently upgraded to 'strong buy' consensus ratings among analysts on the CommSec platform.

A consensus rating is the average rating based on a number of analysts' opinions.

Zip Co Ltd (ASX: ZIP)

The Zip share price is $2.50, down 0.4% on Tuesday.

This ASX All Ords financial share is up 2% over the past 12 months.

UBS is among the brokers recommending investors buy Zip shares.

The broker has a 12-month share price target of $5.20 on the buy now, pay later (BNPL) provider.

Citi also has a buy rating with a much lower target of $4.30.

Zip will report its earnings on Thursday.

Xero Ltd (ASX: XRO)

The Xero share price is at a three-year low of $77, down 2.7% today as the global tech downturn continues.

The ASX All Ords tech share has halved in value over the past six months.

In February, several brokers have reiterated their buy ratings but with vastly different 12-month price targets.

Jefferies has a target of $82.70 and Citi is tipping $144.80 per share.

WiseTech Global Ltd (ASX: WTC)

The Wisetech share price is also at a three-year low of $45.49, down 5.6% on Tuesday.

Wisetech shares have lost 63% of their value over the past year.

This month, Jefferies reiterated its buy rating with a 12-month price target of $65.

Citi is far more ambitious with a target of $109.15.

Wisetech will release its 1H FY26 results next Wednesday.

Westgold Resources Ltd (ASX: WGX)

The Westgold Resources share price is currently $7.20, down 0.8%.

The ASX All Ords gold share is up 193% over the past 12 months.

Macquarie is among the brokers with a buy rating on Westgold shares. Its 12-month target is $9.90.

Ord Minnett also has a buy recommendation with a target of $8.65.

Some experts believe the gold price could rise above US$7,000 per ounce this year.

Capricorn Metals Ltd (ASX: CMM)

This ASX All Ords gold share is $13.32 apiece on Tuesday, down 0.9%.

Capricorn Metals shares have soared 68% over the past 12 months.

This month, Macquarie upgraded its rating to buy and lifted its price target from $15.20 to $16.20.

AGL Energy Ltd (ASX: AGL)

The AGL share price is $10.43, down 0.6% today and down 2.7% over the past 12 months.

Last week, AGL reported an underlying profit of $353 million for 1H FY26, down 6% on 1H FY25.

The energy retailer announced a fully franked interim dividend of 24 cents per share.

Citi has a buy rating on the ASX All Ords utilities share with a price target of $11.80. 

RBC Capital also has a buy recommendation with a target of $11.50.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is $8.33, down 3.5% on Tuesday.

The ASX All Ords healthcare share is down 70% over the past 12 months.

Citi just reiterated its buy rating on Telix with a price target of $34.

TD Cowen also has a buy rating but lowered its price target from $25 to $20.

WA1 Resources Ltd (ASX: WA1)

This ASX All Ords copper share is $15.62 apiece, down 2% today and up 18% over the past 12 months.

Copper is in high demand due to the green energy transition and rising debasement trade amid geopolitical and trade uncertainties.

The red metal is essential for electrification and a key input in new infrastructure like wind turbines and data centres.

This month, Canaccord Genuity reiterated its buy rating and lifted its 12-month price target from $28 to $32.

The post 8 ASX All Ords shares just upgraded to strong buy status appeared first on The Motley Fool Australia.

Copper is benefiting from rising demand for real assets amid geopolitical and trade uncertainties and a rapidly falling US dollar.

Today, the Australian dollar is trading at 71 US cents, a three-year high.

Trading Economics analysts explained why copper rose so strongly today:

In recent developments, US President Donald Trump threatened Iran with military strikes far more severe than the attack he ordered in June unless the country agrees to a trade deal with Washington.

Trump's tariff threats against other nations, coupled with his apparent indifference to the dollar's weakness, further fueled the flight to metals.

Copper is also being supported by recurring supply tightness and robust industrial demand, particularly driven by the global transition to renewable energy and artificial intelligence.

Meanwhile, copper inventories in Shanghai, London, and New York have risen in recent weeks, pushing combined holdings above 900,000 tons.

Copper is in high demand as the green energy transition begins showing its impact in strongly rising commodity prices.

The red metal is essential for electrification.

It is a key input in much of the new infrastructure required for the energy transition and artificial intelligence systems.

It offers high ductility, malleability, and thermal and electrical conductivity, and is resistant to corrosion.

Copper is in wiring, electric vehicles (EVs), wind turbines, solar energy systems, telecommunications, and electronic products.

The US added the red metal to its Critical Minerals List in November.

What happened with ASX copper shares today?

BHP Group Ltd (ASX: BHP), now the world's largest copper producer, rose 2.1% to a two-year high of $51.66 per share.

The Rio Tinto Ltd (ASX: RIO) share price ascended 1.6% to a record $157.24.

The ASX 200's largest pure-play copper share Sandfire Resources Ltd (ASX: SFR) reached a record $21.30, up 5.2%.

Capstone Copper Corp CDI (ASX: CSC) shares soared 5.1% to a record $17.64 per share.

Aeris Resources Ltd (ASX: AIS) shares lifted 2.9% to a 52-week high of 70 cents.

The Develop Global Ltd (ASX: DVP) share price rose 2.2% to $5.65.

ASX exchange-traded fund (ETF) Global X Copper Miners ETF (ASX: WIRE) lifted 7.8% to a record $28.95.

However, not all ASX copper shares were buoyed by the commodity's surge today.

The Greatland Resources Ltd (ASX: GGP) share price fell 0.86% to $13.77.

WA1 Resources Ltd (ASX: WA1) shares fell 2.5% to $17.89.

Amid volatile geopolitics, investors are seeking safety in base metals like copper and precious metals like gold and silver.

The weaker US dollar is supporting these commodities.

Trading Economics analysts explain:

A softer dollar makes commodities priced in greenbacks, including copper, gold, and silver, more affordable for buyers using other currencies.

The gold price also surged to above US$5,600 per ounce today.

The analysts said:

Momentum picked up after President Trump dismissed the dollar's slide to four-year lows, signaling tolerance for currency weakness despite ongoing tariff threats and renewed criticism of the Federal Reserve's independence.

Meantime, the silver price ripped to above US$117 per ounce on the same tailwinds.

Gold is up 29% and silver is up 66% in the year to date.

The post ASX copper shares surge as commodity hits record high appeared first on The Motley Fool Australia.

WA1 shares are up 1.51% to $18.14 at the time of writing. Zooming out, the stock is still nearly 10% lower than this time last year, even as activity ramps up at the Luni niobium project.

Here is what the company reported.

Drilling delivers standout niobium grades

The key highlight from the quarter was another strong set of drilling results from the Luni Niobium Project in Western Australia.

WA1 reported further infill and extensional drilling across high grade zones, with results continuing to exceed expectations.

Some of the standout intercepts included 67.3 metres at 5.4% Nb2O5, including a higher grade core of 30 metres at 9.8% Nb2O5. Additional holes returned 28.1 metres at 4.6% Nb2O5 and 36.5 metres at 2.9% Nb2O5.

Importantly, drilling to the east of Luni extended mineralisation beyond the current mineral resource envelope. That included wide intercepts of 73 metres at 1.8% Nb2O5 and 35 metres at 3.2% Nb2O5, pointing to potential future resource growth.

In total, around 35,000 metres of drilling was completed during 2025, with the results expected to feed into an updated mineral resource estimate later this year.

Major Project Status adds momentum

WA1 also confirmed that the Luni Niobium Project has been granted Major Project Status (MPS) by the Australian Federal Government for an initial 3-year period.

This designation recognises Luni as a project of national significance and provides WA1 with coordinated access to federal agencies through the Major Projects Facilitation Agency.

At the same time, pre development works continued on site, including construction of a temporary airstrip and completion of bore installation and pump testing to support hydrogeological studies.

A very strong balance sheet

The company finished the December quarter with roughly $138.5 million in cash and no debt. Based on current spending levels, WA1 estimates it has close to 10 quarters of funding available, giving it significant flexibility to progress studies without near term capital raising risk.

Quarterly exploration and evaluation spend came in at $13.4 million, with most of that directed toward drilling and on-site programs.

What to watch next

While WA1 shares remain below last year's levels, operational momentum at Luni continues to build.

The market will now be watching for an updated resource estimate and further drilling success. Progress on development studies could be key to unlocking the project's longer-term value.

WA1 remains a stock worth watching this year.

The post This ASX stock just delivered more standout niobium results. Why is the market still on the fence? appeared first on The Motley Fool Australia.

WIRE ETF is soaring due to rising demand for copper as the green energy transition starts showing itself in rising commodity prices.

But WIRE's performance since inception in November 2022 is also impressive at an average 34.23% per annum.

Last year was particularly strong amid the copper price soaring 42%.

The red metal traded above US$6 per pound for the first time earlier this month.

Copper is essential for electrification and is a key ingredient in much of the new infrastructure being built for the energy transition.

It offers high ductility, malleability, and thermal and electrical conductivity, and is resistant to corrosion.

Copper is used in wiring, electric vehicles (EVs), wind turbines, solar energy systems, telecommunications, and electronic products.

The red metal was added to the US Critical Minerals List in November 2025.

The weaker US dollar is also supporting the copper price as investors seek safety in base metals like copper and precious metals like gold.

Trading Economics analysts explain:

A softer dollar makes commodities priced in greenbacks, including copper, gold, and silver, more affordable for buyers using other currencies.

Investment demand has also picked up, with Chinese merchants offering 1-kilogram investment-grade copper bars despite challenges in the secondary resale market.

Additionally, physical buyers are front-loading copper deliveries ahead of the Lunar New Year holiday in China and potential US tariffs on refined metal, further tightening global supply.

Elsewhere, robust consumption driven by the global shift toward renewable energy and artificial intelligence applications continues to support copper demand.

Nitty-gritty on WIRE ETF

WIRE seeks to mirror the performance of the Solactive Global Copper Miners Total Return Index before fees.

WIRE holds 39 stocks and offers good geographical diversification.

This mix is 37% Canada, 11% US, 10% Australia, 10% Hong Kong, 7% Japan, 6% Poland, 5% Sweden, and the list goes on.

The ASX copper shares among WIRE's investments include the market's biggest copper pure-play, Sandfire Resources Ltd (ASX: SFR), at 3.2%.

BHP Group Ltd (ASX: BHP), now the world's largest copper producer, makes up 4% of WIRE's investments.

Capstone Copper Corp CDI (ASX: CSC) shares provide another 3%, and Develop Global Ltd (ASX: DVP) makes up 0.36%.

WA1 Resources Ltd (ASX: WA1) shares are in there, too, at 0.2%.

Last month, James Gerrish from Shaw and Partners said WIRE was his team's preferred copper exposure among ASX ETFs.

Gerrish said:

The ASX-listed Global X Miners ETF (WIRE) remains one of our preferred vehicles for broad exposure to global copper producers.

From a regional perspective, it only has 11% exposure to Australia, with Canada providing the main holdings.

It has a decent $400mn market cap, while its fees are okay at 0.65%.

The post This ASX ETF has returned 34% annually since inception appeared first on The Motley Fool Australia.

The good news is that there are many ways for Aussie investors to gain exposure to critical metals on the local stock exchange.

But which ones could be buys? Let's take a look at three of the best to buy now according to analysts at Bell Potter.

Ioneer Ltd (ASX: INR)

This lithium-boron producer has caught the eye of Bell Potter. It has a speculative buy rating and 36 cents price target on its shares.

The broker was pleased with the funding support it received from the US Department of Energy for the Rhyolite Ridge project and believes this is the first step in de-risking its development. It said:

In January 2025, Rhyolite Ridge received funding support from the US Department of Energy through a US$996m, 20-year loan. The company is currently running a project selldown process, which we expect to materially de-risk the development's remaining funding requirements. Project development should commence in 2026 to enable first production in 2029. The US Department of Interior, in consultation with the US Geological Survey, recently added boron to the final 2025 List of Critical Minerals; this list also includes lithium. Buy (Speculative), Valuation $0.36

Liontown Ltd (ASX: LTR)

Bell Potter rates lithium miner Liontown highly and has a buy rating and $1.52 price target on its shares. It believes that 2026 will see the company de-risk its Kathleen Valley operation. The broker said:

Over 2026, LTR will further de-risk the ramp-up of production at Kathleen Valley as ore stockpiles support the operation's transition to all underground mining. LTR has a strong balance sheet and is highly leveraged to lithium markets, which we expect to further improve.

WA1 Resources Ltd (ASX: WA1)

A third ASX critical minerals stock that Bell Potter is recommending to clients is niobium developer WA1 Resources. It has a speculative buy rating and $24.80 price target on its shares.

The broker highlights that the company owns the Luni deposit, which is the highest grade niobium deposit outside Brazil. It said:

WA1's Luni deposit in the West Arunta, Western Australia, is the highest grade niobium deposit outside of Brazil and bears similarities to the global significance of LYC's Mt Weld deposit in the rare earth sector. Brazil accounts for ~90% of global supply of Niobium, a key micro alloy in steel. We anticipate a Resource update during CY26 and a potential initial study, which builds on process flowsheet work conducted over the last ~1.5 years, and recent infill drilling.

The post Bell Potter names the best ASX critical minerals stocks to buy appeared first on The Motley Fool Australia.

That's because it has just put a speculative buy rating on an ASX mining stock and is predicting very big returns for investors.

Which ASX mining stock?

The stock that Bell Potter is tipping as a buy is WA1 Resources Ltd (ASX: WA1).

It is the mineral exploration company that owns the Niobium focused West Arunta project, located on the border of Western Australia and the Northern Territory in the Arunta region.

Bell Potter notes that since listing, WA1 Resources has focused on an aggressive drill-out program at West Arunta, targeting the Luni carbonatite structure.

Niobium is a niche commodity, primarily micro-alloyed into structural steel to improve strength and reduce weight in applications. The broker notes that supply is largely (~80%) controlled by Brazilian producer CBMM through the Araxa deposit in Brazil. It is considered a critical mineral by both the United States and European Union due to supply concentration and economic importance.

What is the broker saying?

Bell Potter highlights that the ASX mining stock has released a series of drill results for the Luni deposit.

It was pleased with the results and believes it demonstrates that West Arunta is top-tier asset and likely to be home to the highest-grade niobium project outside Brazil.

In light of this, the broker thinks that recent share price weakness has created an attractive buying opportunity for investors. It said:

WA1 has traded 26% lower MoM in-line with a critical minerals sell-off. In our view, this presents an attractive opportunity to gain exposure to a top-tier asset (likely the highest-grade Niobium project ex-Brazil), and management team, focused on rapidly de-risking Luni towards development. We believe there is upside risk to our valuation and estimates which should be highlighted in an upcoming initial study (BPe CY26).

Opportunities include: 1) Niobium pentoxide optionality (a higher margin product than ferro-niobium, first produced in Aug-25 at bench scale), and 2) optimised capital and operating costs driven by mine plan optimisation and sequencing (e.g. sizing and expanding the plant capacity in-line with grade as Lynas (LYC, Sell $9.60/sh) did with Mt Weld in 2010).

According to the note, the broker has retained its speculative buy rating with a $24.80 price target. Based on its current share price of $15.16, this implies potential upside of 64% for investors over the next 12 months.

It concludes:

We retain our Speculative Buy recommendation on WA1 and a $24.80/sh valuation (previously $25.70). We see the potential for Luni to be a globally significant niobium project, capable of generating on average A$485m in annual EBITDA.

The post Why this speculative ASX mining stock could rise 60%+ 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:

Amcor (ASX: AMC)

The Amcor share price is down 10% to $13.57. Investors have been selling the packaging company's shares following the release of its fourth quarter update. Amcor posted a 43% jump in net sales to US$5,082 million. This was thanks to the completion of the Berry Global acquisition at the end of April. And while its EBITDA was also up 43% to US$789 million, this fell comfortably short of the consensus estimate of US$836 million.

Centuria Office REIT (ASX: COF)

The Centuria Office share price is down 3% to $1.26. This office property company's shares are falling after it released its full year results for FY 2025 and reported a 14.5% decline in funds from operations to $70.4 million. This led to the company cutting its dividend by a similar margin from 12 cents per share to 10.1 cents per share. Management is guiding to another decline in funds from operations for FY 2026.

Patriot Battery Metals Inc. (ASX: PMT)

The Patriot Battery Metals share price is down 1% to 46.5 cents. This morning, this lithium explorer released its quarterly update. While it has made plenty of progress with its exploration, it continues to burn through its cash and reported a loss of $1.7 million for the period even after recording $4.2 million of flow-through premium income.

WA1 Resources Ltd (ASX: WA1)

The WA1 Resources share price is down almost 14% to $16.69. The catalyst for this has been the completion of an institutional placement by the niobium company. WA1 Resources revealed that it has received firm commitments to raise $100 million at an issue price of $17 per new share. This follows strong support from new and existing institutional investors across the Americas and Australia. Funds raised will be applied toward pre-development and permitting activities for the Luni Niobium Project, as well as planned capital expenditure relating to supporting infrastructure. Managing Director, Paul Savich, commented: "The Luni Niobium Project is clearly an exceptional asset and this was again reflected in the strong demand recevied for the Placement from existing shareholders and new institutional investors across the world."

The post Why Amcor, Centuria Office, Patriot Battery Metals, and WA1 Resources shares are falling today appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials (ASX:XMJ) sector has lifted roughly 3% in 2025 and has been largely outperformed by other sectors. 

However, broker Bell Potter has identified two mid-cap materials companies with big upside. 

Lets see what the broker had to say. 

WA1 Resources Ltd (ASX: WA1)

WA1 Resources Ltd is a mineral development in Western Australia and the Northern Territory. Its projects include West Arunta, Madura, Hidden Valley, and Niobium.

It has had a strong year thus far, already rising 28.74% since January. 

Bell Potter believes there's more room for growth for this ASX materials share. 

The broker has placed a "buy" recommendation and $26.00 price target on WA1 Resources Ltd (ASX: WA1) shares.

This indicates an upside of 51.96%. 

The broker believes the Luni deposit (niobium resource) has the potential to become a major global source of niobium and could eventually generate about A$485 million in annual earnings before interest, tax, depreciation, and amortisation (EBITDA).

Niobium is a critical mineral utilised in the strengthening of steel. Global supply for niobium is concentrated (~90% produced from Brazil between two companies). 

Bell Potter expects Luni to be a high-grade, large-scale niobium discovery in a stable jurisdiction (Western Australia), offering an alternate supply source to current routes.

Our recommendation for WA1 is based on a discounted cash flow valuation from our NDS for the Luni prospect, risked by 30% to take into account the stage of the project.

West African Resources Ltd (ASX: WAF)

West African Resources Ltd is engaged in mineral exploration in Burkina Faso. It focuses on the development of the Sanbrado Gold Project. 

The Group's mineral portfolio also includes gold and copper-gold exploration permits in Burkina Faso.

This stock has risen 68.03% already in 2025. 

Bell Potter still sees further room for growth. 

The broker has a "buy" recommendation and $4.08 price target, which indicates an impressive 65.18% upside. 

The optimism centres around the company's Kiaka Gold Project that is progressing towards first gold production (expected in Q3 2025), with the company aiming to produce over 420,000 ounces of gold annually.

The post Broker tips 50-60% upside for two ASX materials shares appeared first on The Motley Fool Australia.

And WA1 Resources Ltd (ASX: WA1) is one company that has seen its share price soar into orbit after unearthing a new mineral deposit.

In July 2022, you could have bought its shares for as little as 13 cents each.

By November of that year, its shares were trading at $3 a pop – that's already a 2,200% return.

But that was just the beginning.

Fast forward to today, and WA1's share price is trading at $16.10 each, marking a spectacular 12,285% increase in just three years.

In contrast, the All Ordinaries Index (ASX: XAO) is up by about 30% during this period.

Hence, if you'd put $1,000 into this ASX mining stock 3 years ago, you'd now have more than a $120,000 return.

What's the deal?

In late 2022, the company discovered the Luni niobium deposit in remote Western Australia with exploration drilling intercepting unusually rich niobium mineralisation.

And the share price took off.

Since then, WA1 has continued to advance the project, undertaking extensive drilling to define a mineral resource estimate.

Management believes the results confirm Luni as the world's most significant niobium discovery in more than 70 years.

What on earth is Niobium?

Niobium is a specialty metal with key traits including heat and corrosion resistance, superior electronic characteristics, as well as strength and weight advantages.

Its primary use is in steel production, where small amounts of the metal substantially increases the strength and decreases the weight of steel products.

However, niobium is also considered a vital metal for the modern world, with growing applications in battery technologies, superconductors, and the aerospace and defence sectors.

Supply is heavily concentrated, with about 80% of global output attributed to the Brazilian mining company CBMM.

This supply risk has led to the European Union, the US, Japan, India, the UK, and Australia classifying niobium as a 'critical metal'.

Hold your horses!

Here's the thing.

Even though the Luni project appears attractive, mining operations and cash flow remain a distant prospect. And forget juicy dividends any time soon.

WA1 must first complete a host of technical studies, economic assessments, environmental evaluations, and navigate a complex permitting process to obtain a mining license.

Even if these hurdles are cleared, the company will still need to raise significant capital to build a mine.

In a nutshell, production is still years away – and that's assuming the studies confirm Luni's financial viability and the relevant mining approval is granted.

Neither outcome is guaranteed, and significant risks remain before any cash comes pouring in.

The post If I'd put $1k in this ASX mining stock 3 years ago, I'd now have $120,000 appeared first on The Motley Fool Australia.