Australia’s sharemarket drifted lower on Monday, but you wouldn’t know it if you were only watching a handful of energy, lithium and small‑cap resource names.
The S&P/ASX 200 slipped around 0.12% to 8,624.4 points as weakness in materials and utilities offset gains in communications, financials and parts of real estate. [1] Yet under the surface, stocks like Bass Oil, Liontown Resources and Pilbara Minerals delivered eye‑catching moves as investors positioned ahead of Tuesday’s RBA decision and a big week of global central‑bank meetings. [2]
Below is a rundown of the biggest stock gainers on the Australian market today, what drove their rallies, and what the latest analysis and forecasts are signalling.
Market snapshot: quiet index, loud stock moves
- Index performance: The ASX 200 closed at 8,624.4, down 10.2 points (‑0.12%), with the All Ordinaries also off 0.12%. [3]
- Sectors:
- Communications led the market, up just over 1%.
- Financials and real estate finished modestly higher.
- Materials and energy lagged, with big miners BHP and Rio Tinto losing around 0.8–0.9% as iron ore prices fell again in China. [4]
- Macro backdrop: IG’s “Week Ahead” note flagged that the Australia 200 (ASX 200) is likely to finish the week broadly flat as traders wait on the RBA, which is expected to hold the cash rate at 3.60%, and the US Federal Reserve’s decision later in the week. [5]
Key themes behind today’s gainers
- Gas deal excitement: Bass Oil almost doubled after locking in a three‑year gas sales agreement with Origin Energy. [6]
- Lithium rerating: Liontown and Pilbara Minerals were the standout large‑cap winners, jumping on the back of fresh UBS price‑target upgrades across the lithium sector. [7]
- M&A in property: National Storage REIT climbed on a landmark A$4 billion takeover deal from a Brookfield–GIC consortium. [8]
- Speculative resources: Smaller explorers in gold, copper and coal rallied on new project news and drilling plans.
Biggest percentage gainers on the ASX today
Based on MarketIndex’s “Top Gainers” scan (price > A$0.01), these were among the largest percentage movers on the Australian market at the close: [9]
- Bass Oil Ltd (ASX: BAS) – up 97.1% to A$0.067
- Anax Metals Ltd (ASX: ANX) – up 37.5% to A$0.011
- Discovery Alaska Ltd (ASX: DAF) – up 28.6% to A$0.018
- Aeris Environmental Ltd (ASX: AEI) – up ~22.5% to around A$0.060 [10]
- Superior Resources Ltd (ASX: SPQ) – up 22.2% to A$0.011
- Yari Minerals Ltd (ASX: YAR) – up 22.2% to A$0.011 [11]
On the ASX 200, the biggest attention‑grabbers were:
- Liontown Resources Ltd (ASX: LTR) – up about 14.8% to A$1.52 [12]
- Pilbara Minerals Ltd (ASX: PLS) – up about 6.0% to A$4.03 [13]
- National Storage REIT (ASX: NSR) – up about 2.2%, hitting a record high near A$2.81 after confirming a takeover bid. [14]
Let’s unpack the biggest stories behind these moves.
Bass Oil (BAS): gas deal with Origin sends shares almost 100% higher
Move: Bass Oil closed up 97.1% at A$0.067 after trading as high as 9.3 cents — more than 170% above Friday’s close — on heavy volume exceeding 45.5 million shares. [15]
Catalyst: three‑year gas sales agreement with Origin
Bass announced a binding Gas Sales Agreement (GSA) with Origin Energy (ASX: ORG) for gas from the Vanessa field in South Australia’s Cooper Basin. Key points from the ASX release and subsequent coverage: [16]
- Bass will supply all gas produced from the Vanessa field to Origin for up to 12.045 petajoules (PJ) over three years, with first gas targeted for 2026.
- The agreement underpins the full commercialisation of Vanessa, which includes an existing production facility and a 5 km pipeline into the Cooper Basin transmission network.
- The Vanessa well previously produced around 1.1 billion cubic feet of gas over two years, giving investors confidence this is more than just a conceptual asset.
- Management framed the deal as a “key step” in Bass’s entry into the East Coast gas market, and a potential stepping stone to monetise larger gas resources in its nearby PEL 182 acreage.
Why the market loved it
Bass was a tiny, illiquid micro‑cap coming into the session, so a de‑risking event like a binding offtake deal can dramatically change perceptions of value. The GSA:
- Provides visibility of future cash flow, contingent on Bass completing the Vanessa acquisition and recommissioning the field.
- Confirms third‑party validation from a major energy player (Origin).
- Fits a broader narrative of rising East Coast gas demand and tight supply. [17]
That combination was enough to put BAS at the top of the ASX performance table today.
Discovery Alaska (DAF): Idaho gold–silver deal ignites the share price
Move: Discovery Alaska jumped 28.6% to A$0.018. [18]
Catalyst: option over Boulder Creek gold–silver project in the US
Stockhead reports that DAF has signed a binding Heads of Agreement to secure an option over the Boulder Creek gold–silver project in Idaho, covering about 640 hectares of prospective ground. [19]
Key details:
- The area is prospective for epithermal, high‑grade, vein‑hosted gold‑silver as well as disseminated mineralisation.
- Historical work was undertaken in the 1980s by Nerco (later acquired by Rio Tinto), but there has been no modern exploration since, leaving considerable “option value” if new drilling confirms the old data.
- The project sits near Integra Resources’ DeLamar project, adding some regional validation.
Discovery Alaska now plans to compile historical records, map geology and design an exploration program to test mineralisation trends. [20]
In a market hungry for new gold and silver exposure, that was enough to put DAF near the top of today’s leaderboard.
Anax Metals (ANX): funding package to advance Whim Creek
Move: Anax Metals surged 37.5% to A$0.011, recovering from recent lows after emerging from a trading halt. [21]
Catalyst: strategic placement and shareholder loan
A combination of capital raising and strategic partnership news drove the rally: [22]
- A$2.4 million placement to Gold Valley Pilbara, priced at 1.1 cents per share — a hefty 37.5% premium to the previous close of 0.8 cents.
- A A$3.5 million loan from a major shareholder, easing balance sheet pressure and allowing repayment of convertible notes.
- Gold Valley also gains a right of first refusal to build, own and operate the accommodation camp for Anax’s Whim Creek copper project in WA.
The funds are earmarked to:
- Update the Definitive Feasibility Study (DFS) for Whim Creek,
- Expand Anax’s aggregates business, and
- Support due diligence with potential offtake and financing partners. [23]
For investors, that combination of premium‑priced equity, additional debt support and a strategic partner sends a strong signal that Whim Creek remains on a credible path to near‑term production.
Superior Resources (SPQ): prepping a bigger drilling push
Move: Superior Resources gained 22.2% to A$0.011. [24]
Catalyst: aggressive gold and copper drilling plans
Superior’s own updates, amplified by third‑party coverage, highlighted major drilling programs aimed at: [25]
- Expanding resources at the Steam Engine Gold Project; and
- Testing high‑grade copper targets at Telegraph and Halls Reward in Queensland.
The company is planning up to 6,000 metres of drilling across these targets in early 2026. For a micro‑cap explorer, that kind of upcoming news flow often catalyses speculative buying, particularly when gold prices are firm.
Yari Minerals (YAR): coal drilling progress at Rolleston South
Move: Yari Minerals rallied 22.2% to A$0.011, with StockInvest flagging rising volume alongside the price move. [26]
Catalyst: updates on Rolleston South coal project
Recent coverage notes that Yari has:
- Completed four drill holes totalling around 1,288 metres at the Rolleston South coal project in Queensland’s Bowen Basin, sending core for detailed lab analysis. [27]
- Previously lifted the project’s JORC Inferred Resource to 151 Mt, with further growth targeted through near‑term drilling. [28]
Lunch‑time market commentary highlighted YAR as a small‑cap name to watch as continuity in coal seams is confirmed and the company works toward larger resource and development decisions. [29]
Aeris Environmental (AEI): speculative jump in a thinly traded “green tech” small‑cap
Move: Aeris Environmental climbed from a previous close of about A$0.049 to roughly A$0.060, a move in the low‑20% range, placing it among the session’s top percentage gainers. [30]
Aeris develops and distributes HVAC hygiene, anti‑corrosion and disinfectant technologies, positioned around indoor air quality and remediation solutions. [31]
There was no obvious price‑sensitive ASX announcement today, suggesting the spike may have been driven by:
- Technical buying in a thinly traded name,
- Renewed interest in sustainability‑linked plays, or
- Short‑term momentum traders targeting stocks on daily top‑gainers lists.
Given the stock’s small size and volatility, moves of this magnitude can reverse quickly if buying dries up.
Lithium leads the large‑cap gainers: Liontown (LTR) and Pilbara Minerals (PLS)
Liontown Resources (LTR)
Move: Liontown closed around A$1.52, up 14.77% on the day with about 27 million shares changing hands — roughly A$40 million in value. [32]
Drivers:
- ABC’s markets blog singled out lithium miners as the “bright spot” on the ASX, noting that UBS had raised price targets across the sector, and highlighting Liontown’s ~14.8% gain as one of the top moves on the ASX 200. [33]
- Liontown’s own site shows the stock around A$1.51–1.52 late in the session, and highlights its partnership with Metalshub to launch its first spodumene concentrate auction, a structural positive for price discovery and marketing flexibility. [34]
Technical outlook:
StockInvest’s AI‑driven model currently flags LTR as a buy candidate and notes: [35]
- The stock is in a strong, rising short‑term trend.
- Its model projects a potential 62.9% upside over the next three months, with a 90% probability that the share price trades between about A$2.02 and A$2.82 over that horizon.
- Support is seen around A$1.37–1.47, but volatility is high, so the risk profile is elevated.
These are statistical forecasts, not guarantees, but they help explain why traders have been willing to chase the breakout.
Pilbara Minerals / PLS Group (PLS)
Move: Pilbara Minerals (now branded PLS Group on some platforms) finished around A$4.03, up 6.05%, with roughly 20 million shares traded for around A$79 million — making it one of the day’s strongest blue‑chip performers. [36]
Drivers:
- MarketIndex’s evening wrap noted that lithium names LTR and PLS “recharged” today even as the broader materials sector fell, underlining a sector‑specific rerating rather than a general mining rally. [37]
- A detailed Kalkine article on Pilbara Minerals emphasised: [38]
- Strong revenue growth as the Pilgangoora operation ramped up,
- Improved profitability, and
- A solid balance sheet with manageable debt,
while reiterating PLS’s central role in the global EV battery supply chain as one of the world’s largest independent hard‑rock lithium producers.
Technical outlook:
StockInvest’s model suggests PLS remains in a strong upward trend and notes: [39]
- Up 86.6% since turning into a buy/hold candidate in mid‑September.
- A projected 86.6% further upside over three months, with a 90% probability range between roughly A$6.77 and A$8.56.
- Buy signals from both short‑ and long‑term moving averages, but a divergence between rising price and falling volume warns traders to watch for exhaustion.
Again, these are model‑based technical forecasts rather than fundamental valuations, but they illustrate how powerful the momentum remains in PLS.
National Storage REIT (NSR): A$4 billion takeover lights up the property space
Move: National Storage REIT rose about 2.2%, hitting record highs near A$2.81 and ranking among the top ASX 200 winners. [40]
Catalyst: binding A$4 billion bid from Brookfield and GIC
Reuters and other outlets report that: [41]
- NSR has agreed to a Scheme Implementation Deed with a consortium led by Brookfield Asset Management and Singapore’s GIC.
- The deal values NSR at about A$4.0 billion, offering A$2.86 per stapled security, subject to a small distribution adjustment.
- The price represents a 26.5% premium to NSR’s undisturbed late‑November share price and marks the largest take‑private of an Australian listed real‑estate group to date.
The board has unanimously recommended the scheme, subject to no superior proposal and a favourable independent expert’s report, with completion targeted for the second quarter of 2026. [42]
Today’s move reflects investors pricing in some probability the deal will close roughly as announced, minus a modest “deal risk” discount.
What today’s gainers are signalling about the ASX
A few clear themes emerge from the day’s action:
- Micro‑caps still move on discrete catalysts
- Bass Oil, Discovery Alaska, Superior Resources and Yari Minerals all rallied on company‑specific news — offtake deals, new project options and upcoming drilling rather than macro trends. [43]
- With low starting valuations, relatively modest fundamental shifts can deliver outsized percentage moves, but the flip side is equally sharp downside when sentiment turns.
- Lithium sentiment is swinging back
- After a bruising 2024, lithium names are finding support on a mix of analyst upgrades, signs of stabilising prices and renewed interest in battery supply chains. [44]
- LTR and PLS’s strong closes — plus bullish short‑term technical forecasts — suggest traders are betting on a continued sector rerating, even though volatility remains high.
- M&A is supporting selected sectors
- NSR’s takeover underscores ongoing global appetite for Australian real assets, particularly in resilient niches like self‑storage. [45]
- Deals like this can re‑rate whole peer groups if investors start to price in the possibility of further corporate activity.
- Macro: caution ahead of the RBA and Fed
- Despite the fireworks in selected stocks, the index finished almost flat as traders held back ahead of tomorrow’s RBA decision and US data later in the week. [46]
Outlook: what to watch after today’s moves
For investors following today’s winners, key upcoming catalysts include:
- RBA decision (Tuesday): A hold at 3.60% is widely expected, but any change in tone on inflation or growth could move rate‑sensitive sectors like property, banks and growth stocks. [47]
- Federal Reserve meeting: A dovish or hawkish surprise would ripple through global risk assets, including the ASX. [48]
- Bass Oil (BAS): Progress on closing the Vanessa acquisition, recommissioning facilities and updating the market on development timelines. [49]
- Anax Metals (ANX): Delivery of the updated Whim Creek DFS, additional funding arrangements and any offtake news that further de‑risks the project. [50]
- Discovery Alaska (DAF), Superior (SPQ) and Yari (YAR): Detailed exploration plans, drilling results and resource updates that either confirm or challenge today’s speculative optimism. [51]
- Liontown (LTR) and PLS:
- Any follow‑through from the UBS upgrade,
- Further spot sales or auctions of spodumene concentrate, and
- Whether prices remain within the bullish three‑month ranges implied by current technical models. [52]
A quick reminder
This summary is general information only. It pulls together today’s price action, company announcements, broker commentary and technical models to explain what moved on the ASX — it’s not personal financial advice. Always consider your own objectives and risk tolerance, and seek professional advice before acting on market moves, especially in thinly traded small‑caps where volatility and liquidity risks are high.
References
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