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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

29M.AX

2.74%

4DX.AX

3.38%

ABG.AX

-1.21%

AIS.AX

2.66%

AGL.AX

-0.62%

A1M.AX

1.73%

AIZ.AX

-3.08%

AAI.AX

0.78%

ALK.AX

-0.13%

A4N.AX

2.99%

ALQ.AX

AMC.AX

0.53%

AOV.AX

1.27%

AMP.AX

-0.39%

AEL.AX

-1.16%

ALD.AX

-0.57%

ANN.AX

ANZ.AX

-0.33%

APA.AX

-1.02%

ARU.AX

-1.39%

ARB.AX

0.31%

ARF.AX

-0.47%

ARG.AX

-0.11%

ALL.AX

0.57%

AYA.AX

-2.94%

APZ.AX

-2.03%

ASX.AX

0.07%

ALX.AX

-2.51%

AUB.AX

0.39%

AIA.AX

-1.03%

AXQ.AX

0.54%

AMI.AX

2.53%

AZJ.AX

-0.14%

AUC.AX

-2.33%

ABB.AX

1.8%

ASB.AX

-1.17%

AAC.AX

0.39%

ACL.AX

1.44%

AFI.AX

-0.08%

AUI.AX

-0.17%

BOQ.AX

-0.53%

BMN.AX

0.28%

BAP.AX

3.07%

BCI.AX

2.1%

BPT.AX

-0.9%

BGA.AX

1.99%

BGL.AX

3.42%

BEN.AX

-0.87%

BNZ.AX

2.43%

BHP.AX

0.67%

BKI.AX

BC8.AX

XYZ.AX

-3.29%

BSL.AX

0.36%

BOE.AX

4.81%

BXB.AX

1.12%

BVS.AX

0.97%

BRE.AX

-0.7%

BRG.AX

-0.7%

BTR.AX

-1.65%

BFL.AX

-0.39%

BWP.AX

-1.12%

CMM.AX

0.34%

CSC.AX

-0.5%

CAR.AX

0.05%

CIN.AX

-0.63%

CYL.AX

3.62%

CAT.AX

CWP.AX

0.47%

CNI.AX

-0.2%

CIP.AX

-1.07%

CGF.AX

-0.58%

CIA.AX

0.65%

CHI.AX

-3.45%

CLW.AX

-2.42%

CHC.AX

-1.51%

CQR.AX

-3.36%

CQE.AX

-2.83%

CNU.AX

-1.11%

C79.AX

3.13%

CVL.AX

-0.59%

CU6.AX

2.96%

CWY.AX

0.97%

CBO.AX

-1.44%

COH.AX

-0.83%

CDA.AX

21.32%

CGS.AX

2.11%

COL.AX

-0.34%

CKF.AX

0.45%

CBA.AX

-0.97%

CPU.AX

0.52%

CEN.AX

-2.25%

CXO.AX

1.59%

CCP.AX

-1.38%

CMW.AX

-3.62%

CSL.AX

0.01%

CCL.AX

0.5%

DBI.AX

-1.11%

DTL.AX

0.09%

DYL.AX

2.29%

DRR.AX

1.86%

DVP.AX

-2.4%

DXS.AX

0.64%

DXI.AX

-2.16%

DDR.AX

1.04%

DGT.AX

-0.81%

DJW.AX

-0.69%

DMP.AX

-1.15%

DOW.AX

0.15%

DPM.AX

-0.15%

DRO.AX

1.9%

DUR.AX

DNL.AX

2.04%

APE.AX

0.38%

EBO.AX

-0.19%

ELD.AX

0.71%

EOS.AX

4.91%

ELV.AX

-0.26%

ELS.AX

5.86%

EHL.AX

0.42%

EMR.AX

1.03%

EDV.AX

-0.33%

EQR.AX

-5.29%

EQT.AX

0.09%

EUR.AX

-0.62%

EVN.AX

-1.32%

EVT.AX

-0.07%

FDC.AX

0.77%

FCL.AX

-1.86%

FFM.AX

0.77%

FPH.AX

0.63%

FPR.AX

0.11%

FBU.AX

-0.88%

FLT.AX

-0.29%

FML.AX

-2.42%

FRS.AX

6.03%

FMG.AX

-0.12%

FRW.AX

FGX.AX

-0.77%

FGG.AX

GLF.AX

GDG.AX

1.3%

GNE.AX

-3.9%

GMD.AX

0.35%

GNP.AX

-0.43%

GMG.AX

-2.3%

GPT.AX

-0.68%

GQG.AX

2.74%

GNG.AX

-2.58%

GNC.AX

1.66%

GGP.AX

-1.24%

G6M.AX

-5.44%

GOZ.AX

-1.53%

GCI.AX

GYG.AX

0.2%

GWA.AX

0.25%

HSN.AX

1.01%

HVN.AX

-0.48%

HGH.AX

0.5%

HM1.AX

-0.68%

HLI.AX

-0.38%

HMC.AX

-1.52%

HDN.AX

-2.57%

HUB.AX

0.03%

IEL.AX

0.65%

IGO.AX

2.96%

ILU.AX

0.76%

IMD.AX

1.23%

IMR.AX

0.32%

IFT.AX

-0.97%

INA.AX

-2.1%

ING.AX

1.48%

IAG.AX

-0.56%

IDX.AX

0.46%

IPG.AX

IPX.AX

-1.67%

IPH.AX

1.48%

IRE.AX

4.09%

JHX.AX

-2.57%

JBH.AX

1.19%

JDO.AX

-1.07%

KAR.AX

-7.23%

KLS.AX

-1.65%

KCN.AX

1.42%

KKC.AX

-1.9%

GLS.AX

L1G.AX

LSF.AX

1.07%

LGF.AX

-0.42%

LRV.AX

-1.38%

LFS.AX

-3.03%

LLC.AX

0.21%

LFG.AX

-0.94%

360.AX

-1.86%

LIC.AX

1.6%

LNW.AX

-3.57%

LIN.AX

LTR.AX

3.59%

LOV.AX

0.98%

LYL.AX

0.34%

LYC.AX

-0.58%

MA1.AX

0.26%

MAF.AX

0.95%

MGH.AX

2.18%

MAH.AX

2.29%

MQG.AX

0.08%

MAQ.AX

0.75%

MAD.AX

1.5%

MFG.AX

0.49%

MMS.AX

-1.22%

MPL.AX

0.11%

MP1.AX

7.85%

MCY.AX

0.54%

MEZ.AX

-3.09%

MSB.AX

4.66%

MLX.AX

0.48%

MTS.AX

0.35%

MFF.AX

MIN.AX

0.73%

MI6.AX

8.63%

MIR.AX

1.29%

MGR.AX

MND.AX

0.43%

MYS.AX

-1.41%

NAN.AX

-1.37%

NAB.AX

-0.5%

NGI.AX

7.93%

NWL.AX

1.51%

NEU.AX

1.99%

NHC.AX

-0.87%

NMG.AX

NEM.AX

-0.69%

NWS.AX

1.13%

NXG.AX

-0.78%

NXT.AX

-1.47%

NHF.AX

-0.23%

NCK.AX

0.47%

NIC.AX

0.31%

NEC.AX

NST.AX

-0.81%

NWH.AX

0.69%

NUF.AX

3.78%

NXL.AX

-0.14%

OCL.AX

1.74%

OML.AX

OPH.AX

OBM.AX

1.38%

ORI.AX

0.39%

ORG.AX

-0.64%

ORA.AX

0.9%

PDN.AX

1.12%

PNR.AX

5.26%

PDI.AX

2.62%

PPC.AX

PPM.AX

1.79%

PRN.AX

4.65%

PPT.AX

-0.06%

PCI.AX

-0.91%

PRU.AX

-0.08%

PXA.AX

0.84%

PNI.AX

7.2%

PL8.AX

0.36%

PLS.AX

0.91%

PGF.AX

PNV.AX

-0.27%

PMV.AX

-0.59%

PME.AX

1.22%

PWH.AX

0.4%

PYC.AX

1.09%

QAN.AX

0.11%

QBE.AX

1.32%

QAL.AX

3.21%

QRI.AX

-1.65%

RMS.AX

3.75%

RHC.AX

0.08%

REA.AX

-0.38%

RDX.AX

1.87%

REH.AX

1.12%

RF1.AX

2.99%

RPL.AX

1.08%

RG1.AX

-2.71%

RGN.AX

-0.68%

REG.AX

-0.67%

RRL.AX

0.07%

RWC.AX

0.21%

RMD.AX

-0.32%

RSG.AX

0.43%

SGLLV.AX

0.42%

RIC.AX

-0.4%

RIO.AX

0.16%

RXL.AX

2.56%

RFF.AX

-2.07%

RYM.AX

-5.99%

SFR.AX

0.11%

STO.AX

-1.46%

SCG.AX

-0.44%

SEK.AX

2.25%

SHV.AX

-2.58%

SRV.AX

-0.54%

SSM.AX

-0.41%

SGH.AX

0.11%

SHA.AX

0.28%

SIG.AX

0.2%

SLX.AX

0.94%

SGM.AX

SDR.AX

2.72%

SKS.AX

-6.18%

SKC.AX

SIQ.AX

0.62%

SHL.AX

-1.21%

S32.AX

2.97%

SX2.AX

-1.85%

SPK.AX

-1.26%

SRG.AX

-0.25%

SBM.AX

1.21%

SMR.AX

0.19%

SDF.AX

0.09%

SXE.AX

0.83%

SGP.AX

-0.49%

SKG.AX

-0.23%

SNZ.AX

-5.99%

SUN.AX

-0.31%

SRL.AX

8.76%

SUL.AX

0.4%

SLC.AX

0.6%

SNL.AX

1.3%

SYL.AX

-0.93%

TAH.AX

0.84%

TEA.AX

-0.42%

TNE.AX

0.89%

TLX.AX

-0.37%

TLS.AX

-0.31%

A2M.AX

TLC.AX

0.31%

SGR.AX

THL.AX

2.67%

TWR.AX

-1.84%

TPG.AX

0.13%

TCL.AX

-0.93%

TWE.AX

-0.18%

TUA.AX

1.17%

TCG.AX

0.9%

TRA.AX

UNI.AX

0.4%

VAU.AX

0.75%

VNT.AX

-0.5%

VCX.AX

-0.22%

VGN.AX

3.06%

VMM.AX

0.3%

VGL.AX

-1.8%

VEA.AX

-0.32%

VUL.AX

0.4%

VSL.AX

0.18%

WA1.AX

2.53%

WGN.AX

6.54%

WAM.AX

-1.31%

WGB.AX

-2.43%

WLE.AX

SOL.AX

-0.63%

WPR.AX

-2.73%

WQG.AX

-0.95%

WEB.AX

-0.59%

WBT.AX

2.38%

WES.AX

0.58%

WAF.AX

-0.87%

WGX.AX

1.61%

WBC.AX

-0.6%

WHF.AX

-0.43%

WHC.AX

0.75%

WIA.AX

1.67%

WTC.AX

1.7%

WDS.AX

-1.31%

WOW.AX

-0.18%

WOR.AX

0.73%

XRO.AX

0.17%

YAL.AX

-0.52%

ZIM.AX

-1.19%

ZIP.AX

2.51%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	146.45	-0.02	-0.01
SSO ASX Small Caps	14.34	0.11	0.77
IVV S&P 500	72.63	-0.59	-0.81
NDQ Nasdaq	62.49	-0.45	-0.71
F100 FTSE 100	15.16	0.02	0.13
ASIA Asia Tech	21.02	-0.3	-1.41
IEU Europe	96.68	0.14	0.15
IEM Emerging Markets	95.89	-0.88	-0.91
Gold Gold	53.76	-0.68	-1.25
ACDC Battery Tech	117.33	-1.68	-1.41

COMMODITIES	Close($)	-/+	%
Gold	4,127.73	13.4604	0.33
Silver	60.54	-0.4285	-0.7
Platinum	1,695.25	-21.7799	-1.27
Palladium	1,204.67	-9.8933	-0.81
Ice Brent Crude	106.07	1.75	1.68
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.7014	0	0
Euro	1.1359	-0.0011	-0.1
British Pound	1.3234	-0.0018	-0.14
Canadian Dollar	1.4188	0.0017	0.12
New Zealand Dollar	0.5653	-0.0011	-0.19
Chinese Yuan	6.7053	-0.005	-0.07
Japanese Yen	157.5400	0.18	0.11

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.88	1.73%	124.68%	0.39 0.94
BGL	Bellevue Gold Limited	1.59	3.42%	42.79%	1.06 2.00
BHP	Bhp Group Ltd	60.19	0.65%	41.64%	40.18 68.77
FMG	Fortescue Ltd	16.24	-0.15%	-15.00%	16.14 23.38
NHC	New Hope Corporation Ltd	5.68	-0.87%	39.08%	3.77 6.61
WHC	Whitehaven Coal Limited	7.41	0.75%	8.09%	6.33 9.90
NEM	Newmont Cdi	165.79	-0.7%	0.00%	117.59 190.91
NXG	Nexgen Ene Cdi	12.78	-0.7%	0.00%	11.72 20.47
SFR	Sandfire Resources Limited	21.88	0.11%	60.07%	14.05 25.00

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
CDA	Codan	63.08	21.32
SRL	Sunrise Energy	22.97	8.76
MI6	Minerals 260	0.91	8.63
NGI	Navigator Global	2.45	7.93
MP1	Megaport	20.33	7.85
PNI	Pinnacle Investm	13.85	7.2
WGN	Wagners Holding	4.40	6.54
FRS	Forrestania Res	0.31	6.03
ELS	Elsight	4.97	5.86
PNR	Pantoro Gold	3.00	5.26

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
KAR	Karoon Energy	1.44	-7.23
SKS	Sks Technologies	9.72	-6.18
SNZ	Summerset Group	5.81	-5.99
RYM	Ryman Healthcare	1.49	-5.99
G6M	Group 6 Metals L	3.30	-5.44
EQR	Eq Resources	0.40	-5.29
GNE	Genesis Energy	1.97	-3.9
CMW	Cromwell Stapled	0.33	-3.62
LNW	Light & Wo Cdi 1	107.18	-3.57
CHI	Channel Infrastr	2.80	-3.45

OPINION

Latest Market Matters Opinions

29/09/2026 09:32

The Bottom Line

Australian gold assets have become increasingly strategically attractive to offshore producers, with record/high gold prices generating acquisition firepower. Australia offers relatively low jurisdictional risk, and as discussed, buying existing mines and infrastructure is often faster and less risky than discovering and permitting new ounces.

29/09/2026 09:32

Bellevue Gold Limited (ASX: BGL) $1.53

Bellevue Gold (BGL) has emerged from its difficult 2025 in far better shape, with FY26 production of 143.5koz in the upper half of guidance, cash and gold reaching $206m and forward sales commitments cut by 55%. However, it remains a relatively small, single-asset producer in WA’s northern Goldfields, with high All-In-Sustaining-Cost (AISC) of $2,600–2,900/oz and a valuation still carrying the scars of its operational problems.

ACTION

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Market Matters Content

What Matters Today: Gold Fields Targets Northern Star – 3 other ASX gold stocks with M&A potential

Morning report 29/09/2026

Afternoon Report

The Match Out: ASX firms ahead of RBA decision, Northern Star (NST) rejects Gold Fields bid

Afternoon report 28/09/2026

Ask James ASK A QUESTION

Ask James

Question asked 25/09/2026

Telix Pharma. (ASX: TLX) takeover of ITM

On Monday Telix (TLX) has announced the acquisition/merger of ITM. The price of TLX dropped like a lead balloon. On Tuesday morning (as I write) some of the losses has recovered, I would appreciate your views, in the long run, is this merger/acquisition detrimental or beneficial to TLX? Best regards, John

Ask James

Question asked 25/09/2026

G8 Education (ASX: GEM) and Grange Resources (ASX: GRR)

Could you please provide some insight re: GEM and GRR. I own both of these for a few years now, bought in on the high at $1.325 and $1.25 respectively. Since then both are on the downtrend and continue to slide.

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