Lunch Wrap: ASX jumps early as iron ore, coal and lithium miners all catch a bid
Miners muscle ASX up, lithium glows again

Reece pipes burst on profit alert

Wall St inches to record, Nvidia flirts with $3.8 trillion
The ASX came out swinging this morning, jumping a lively 0.6% out of the gates before easing off to a 0.1% gain by eastern lunch time.
Wall Street set the stage overnight with a solid session. The S&P 500 closed just three points shy of its all-time high, and the Nasdaq rallied 1%.
Nvidia briefly flirted with an outrageous US$3.8 trillion valuation before pulling back.
Over at Tesla HQ, yet another Musk confidant has left the building. Omead Afshar, who was overseeing major ops and considered one of Elon's inner circle, has departed. No word yet on why.
Back to the ASX where miners had a field day this morning.
BHP (ASX:BHP) surged 3.5%, Rio Tinto (ASX:RIO) rocketed up 4%, and Fortescue (ASX:FMG) flexed 3% as iron ore futures rebounded thanks to demand hopes in China.
Elsewhere, coal stocks got a warm lift as Beijing's heatwave, nudging 40 degrees, gave prices a gentle shove off the floor.
Lithium stocks also lit up again, building on Thursday's jolt after Vanguard was revealed as a major new holder in Pilbara Minerals (ASX:PLS). PLS rose another 7% this morning, and IGO (ASX:IGO) lifted 5%.
This where things stood at about 12:40pm AEST:
In other large caps news, giant plumbing supplier Reece (ASX:REH) was hammered more than 14% after warning that earnings will fall to around $548-558 million for FY25, down from $681 million last year.
Blame soft volumes in Aussie and Kiwi housing markets, and a flat US construction scene where interest rates and affordability are squeezing new builds.
Wesfarmers (ASX:WES) made a big move with its Bunnings landlord, BWP Trust. It's selling its 100% stake in BWP Management for $142.6 million, a deal that also resets a bunch of Bunnings leases. WES' shares were up 0.5%.
ASX SMALL CAP WINNERS
Here are the best performing ASX small cap stocks for June 27 :
Security Description Last % Volume MktCap
RAN Range International 0.003 150% 4,079,177 $939,290
PAB Patrys Limited 0.002 100% 393,635 $2,365,810
CYQ Cycliq Group Ltd 0.003 50% 1,010,692 $921,033
TKL Traka Resources 0.002 50% 1,000,000 $2,125,790
AGY Argosy Minerals Ltd 0.021 40% 38,072,195 $21,838,814
D3E D3 Energy Limited 0.150 36% 486,632 $8,742,251
C7A Clara Resources 0.004 33% 416,670 $1,764,813
MGU Magnum Mining & Exp 0.004 33% 125,231 $3,364,953
MTB Mount Burgess Mining 0.004 33% 4,666,403 $1,055,108
UNT Unith Ltd 0.009 29% 745,055 $8,601,498
SRL Sunrise 1.150 28% 521,713 $98,653,611
SPX Spenda Limited 0.007 27% 2,695,727 $25,383,685
PPG Pro-Pac Packaging 0.019 27% 192,827 $2,725,316
AN1 Anagenics Limited 0.005 25% 332,587 $1,985,281
AUK Aumake Limited 0.003 25% 5,129 $6,046,718
VML Vital Metals Limited 0.003 25% 2,542,129 $11,790,134
IMU Imugene Limited 0.014 23% 24,298,669 $82,137,229
8IH 8I Holdings Ltd 0.011 22% 11,749 $3,133,448
HTG Harvest Tech Grp Ltd 0.018 20% 2,939,494 $13,439,201
BLZ Blaze Minerals Ltd 0.003 20% 333,000 $4,446,160
ID8 Identitii Limited 0.006 20% 950,537 $3,890,068
IXR Ionic Rare Earths 0.012 20% 7,586,172 $52,674,258
LCL LCL Resources Ltd 0.006 20% 3,527,039 $5,996,286
SHP South Harz Potash 0.003 20% 1,050,000 $2,756,822
Shares in plastic pallets specialist Range International (ASX:RAN) doubled after it won appeals in the Indonesian Tax Court, wiping out tax bills from 2018 related to withholding and VAT issues. The court ruled in full favour of Range's local subsidiary, bringing the payable amount down to zero. The board said it's a big win that brings much-needed certainty as it focuses on growing the business.
Argosy Minerals (ASX:AGY) has locked in a spot sales deal to sell 60 tonnes of high-grade lithium carbonate from its Rincon Project in Argentina. The sale price is pegged to SMM battery-grade pricing, with 30% paid upfront and the rest before shipping from Buenos Aires. Argosy says it's stoked with the strong demand, and reckons it's in a solid spot to benefit from the EV sector's comeback, especially given how few producers are hitting this level of purity.
Sunrise Energy Metals (ASX:SRL) has struck more high-grade scandium at its Syerston project in NSW, following a 125-hole drilling campaign across April and May. Early results from 49 of those holes show strong, continuous hits, with grades up to 1123ppm. The new zones remain open in multiple directions and are expected to feed into a fresh resource upgrade for the company's upcoming feasibility study. With China recently clamping down on scandium exports, Sunrise reckons it's sitting on one of the biggest and highest-grade scandium resources in the world.
ASX SMALL CAP LOSERS
Here are the worst performing ASX small cap stocks for June 27 :
Code Name Price % Change Volume Market Cap
ALR Altair Minerals 0.002 -33% 200,000 $12,890,233
EEL Enrg Elements Ltd 0.001 -33% 600,001 $4,880,668
VN8 Vonex Limited. 0.017 -29% 455,824 $18,062,485
AVD Avada Group Limited 0.100 -29% 389,209 $11,890,904
SRJ SRJ Technologies 0.005 -29% 1,835,411 $4,239,047
TYX Tyranna Res Ltd 0.003 -25% 149,950 $13,153,701
BPH BPH Energy Ltd 0.007 -22% 582,995 $10,964,095
SPQ Superior Resources 0.004 -20% 4,171,733 $11,854,914
BUR Burleyminerals 0.043 -17% 440,303 $9,420,700
FCT Firstwave Cloud Tech 0.010 -17% 645,337 $20,562,224
TMK TMK Energy Limited 0.003 -17% 15,184 $30,667,149
STG Straker Limited 0.410 -15% 63,720 $30,882,864
ODE Odessa Minerals Ltd 0.006 -14% 2,500,000 $11,196,728
VAR Variscan Mines Ltd 0.006 -14% 34,482 $5,480,004
REH Reece Limited 14.940 -14% 1,156,323 $11,214,285,382
NXS Next Science Limited 0.069 -14% 134,187 $23,372,819
RAS Ragusa Minerals Ltd 0.013 -13% 168,980 $2,138,982
RMI Resource Mining Corp 0.013 -13% 520,385 $11,016,800
ICE Icetana Limited 0.056 -13% 459,450 $34,036,858
OVT Ovanti Limited 0.007 -13% 102,767,780 $24,044,120
PGY Pilot Energy Ltd 0.007 -13% 47,159 $17,269,280
SW1 Swift Networks Group 0.007 -13% 594,985 $7,179,604
WBE Whitebark Energy 0.004 -13% 136,794 $2,749,334
LKY Locksleyresources 0.078 -11% 11,442,772 $16,133,333
A11 Atlantic Lithium 0.160 -11% 30,498 $124,766,516
IN CASE YOU MISSED IT
Spartan Resources (ASX:SPR) is targeting resource growth at the Dalgaranga project as drilling produces gold up to 163.67g/t from a hanging wall zone 193.7m deep.
Uvre (ASX:UVA) has unearthed rock chips up to 18.4g/t gold at the Waitekauri project, a flagship asset UVA is acquiring through the purchase of Otagold.
LAST ORDERS
New World Resources (ASX:NWC) is enjoying somewhat of a bidding war over its shares, with Central Asia Metals Plc countering Kinterra Capital's takeover offer at A$0.057 per share with its own revised bid at $0.062 each.
Management says neither company has declared its offer to be best and final as of yet, meaning shareholders are not required to take any action at present.
Aura Energy (ASX:AEE) is a step closer to securing funding after the publication of an Environmental and Social Impact Assessment (ESIA) for the Tiris uranium project on the US International Development Finance Corporation's website.
MD and CEO Andrew Grove said it was a reflection of the company's efforts to align the project's development plans with international best practices and the expectations of global financiers as Tiris moves toward a final investment decision.
At Stockhead, we tell it like it is. While New World Resources and Aura Energy are Stockhead advertisers, they did not sponsor this article.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
12 minutes ago
- News.com.au
Aussie Super sector breathes sigh of relief after Trump administration axes ‘revenge' tax
Australia's Super sector has breathed a sigh of relief after the Trump administration walked back a proposed 'revenge' tax for foreign investors, which would have wiped billions of dollars. US Treasury Secretary Scott Bessent confirmed overnight he struck a deal with countries tightening taxes on multinationals 'that defends American interests'. Under the international taxation rules agreed by 140 governments, including the former Biden administration, multinational companies would pay a minimum 15 per cent tax regardless of where their global headquarters are. On his first day as president, Donald Trump withdrew the US from the agreement and threatened retaliatory duties on any country that imposed the minimum multinational tax. 'After months of productive dialogue with other countries on the (Organisation for Economic Co-operation and Development) Global Tax Deal, we will announce a joint understanding among G7 countries that defends American interests,' Mr Bessent posted on social media. 'OECD Pillar 2 taxes will not apply to U.S. companies, and we will work cooperatively to implement this agreement across the OECD-G20 Inclusive Framework in coming weeks and months.' He added that he 'asked the Senate and House to remove the Section 899 protective measure from consideration in the One, Big, Beautiful Bill'. Had a deal not been reached, nearly half a trillion US dollars in Australian super investments could have been impacted. After months of productive dialogue with other countries on the OECD Global Tax Deal, we will announce a joint understanding among G7 countries that defends American interests. President Trump paved the way for this historic achievement. On January 20, the President issued two… — Treasury Secretary Scott Bessent (@SecScottBessent) June 26, 2025 The Association of Superannuation Funds of Australia (ASFA) said on Friday it was 'a really welcome step from the US Treasury Secretary'. 'There's still a way to go – the amendments need to be made by lawmakers,' chief policy officer James Koval said. 'There are a number of other amendments under consideration. 'This section of the legislation would have changed the risk return profile of investment in the US, which would have been a poor outcome for all involved. 'The superannuation sector has around USD$450 billion invested in the United States, the single largest market outside of Australia. 'This is money invested in US infrastructure, equities, bonds, and other areas.' Anthony Albanese earlier also welcomed the update, saying he raised Australia's concerns with Mr Bessent on the sidelines of the G7 Summit in Canada last week. 'This would adversely impacted on Australian investment if it had have been implemented, particularly on investment from superannuation companies,' the Prime Minister told reporters. 'And one of the things that we held earlier this year in Washington DC was a round table of Australian investment funds who are willing and keen to invest in the United States – just one way in which the Australia US economic relationship is an important one.'
ABC News
17 minutes ago
- ABC News
Jeff McCloy, former Newcastle lord mayor and businessman, dies age 75
Former Newcastle lord mayor Jeff McCloy has died aged 75, following a battle with motor neurone disease (MND). Mr McCloy has been remembered as a prominent business leader and icon of the Hunter's development and construction industries. The well-known businessman and philanthropist ran a large development company in the region for several decades and served as Newcastle lord mayor between 2012 and 2014. He was diagnosed with motor neurone disease about 12 months ago and on Friday ended his life with voluntary assisted dying. Chair of the McCloy Group Paul Broad said Mr McCloy had died on his own terms. "He looked up and winked and drifted off. He was always looking death in the eye and didn't blink," Mr Broad said. "He just kept that really strong exterior. I know in his heart he was broken. Mr Broad said Mr McCloy had still been "sharp as a tack" and was handing out instructions an hour before he died. "[He was] still designing entry statements to his latest subdivision, still talking about making sure we maintain the communities, we attract more first home buyers. "[He was] still talking about Hunter Street, still going on about the council and all the things that get under his skin. Current Newcastle Lord Mayor Ross Kerridge said Mr McCloy made a significant contribution to the city's growth and infrastructure. "I think one of his great achievements … was bringing in the John Hunter Hospital initial build well ahead of schedule. "At the time when the city really needed that work done, he was the one that delivered it." During his time as mayor, Mr McCloy campaigned for the removal of the heavy rail line through the city centre and Newcastle's urban renewal. Mr McCloy resigned from his role as mayor in 2014 in the wake of the Independent Commission Against Corruption's inquiry into banned developer donations. He admitted to making banned donations to several Liberal candidates in the region ahead of the 2011 New South Wales election. Mr Broad said Mr McCloy was disappointed he had to step down. But he said that time did not define him. "He loved his time as lord mayor, and he certainly had unfinished business." Mr McCloy grew up in Belmont and gained a degree in civil engineering from Newcastle University. In the late 1970s he joined the Belmont-based construction company founded by his father, Don, before taking over the reins in the mid-80s. As the chairman of the McCloy Group, he oversaw significant residential, commercial and retirement living projects across Newcastle and the Hunter region. Known for his philanthropy, Mr McCloy supported a range of charitable organisations and supported local artists and sports teams.
News.com.au
27 minutes ago
- News.com.au
Updated elevated going to auction
A classic Darwin elevated residence with a modern makeover is going under the hammer close to the Nightcliff foreshore. The four-bedroom home sits on a 920 sqm block at 5 Lantana Ct, Nightcliff, with pool and lush tropical landscaping. Selling agent Andrew Haring, of Ray White Darwin, said the redesigned elevated was polished and spacious, perfect for families. The main part of the home is upstairs and features banks of louvres, timber floors, a neutral colour scheme and plenty of natural light. There is easy flow between the kitchen and dining room, sitting room, lounge and the front and rear balconies. The updated kitchen has stone countertops, white cabinetry, five-burner gas stove, 900mm oven and plenty of room for a dining table. Bi-fold doors open this level to the huge front balcony and the rear balcony, which looks out over the pool. The three upstairs bedrooms have airconditioning and built-in robes, while the family bathroom is a wet room and there is a separate toilet. Downstairs, there is a large space with a wall of louvres and bi-fold doors opening to the pool area. This space could be used as a bedroom, a living room or an entertaining area. There is also a laundry, a bathroom and a store room on this level, along with carparking for four vehicles and an undercover space flowing out to the pool. The private backyard is screened by tropical gardens and trees. The property is close to shops, schools and markets, while the city is a 15-minute drive away. The home is a short stroll from the Nightcliff foreshore, jetty, boat ramp, and a walk from The Foreshore cafe and Nightcliff pool. PROPERTY DETAILS Address: 5 Lantana Ct, Nightcliff Bedrooms: 4 Bathrooms: 2 Carparks: 4 Auction: Wed, July 2, 5.30pm Originally published as
