Hot Stocks: Alkane Resources, Talga Group, Red Hill Minerals

US equities finished higher as investors looked ahead to a heavy earnings week and the first Federal Reserve policy decision of the year. The Dow Jones Industrial Average rose 0.6 per cent to close above 49,400, the S&P 500 gained 0.5 per cent to 6,950, and the Nasdaq Composite added 0.4 per cent, led by gains in major technology stocks including Apple, Meta Platforms and Microsoft ahead of earnings later this week. Political and trade tensions remained in the background, while safe-haven demand pushed gold briefly above US$5,100 an ounce.

In Australia, shares are set to open higher after a three-day break, supported by the surge in precious metals. ASX 200 futures are up 39 points, or 0.4 per cent, to 8,867. Investors are also watching for the release of December business confidence and conditions data from NAB later today, with offshore attention on US consumer confidence and the Federal Reserve decision early Wednesday morning AEDT.

In company news,

Alkane posts record quarter as cash balance jumps to $246m

Alkane Resources (ASX:ALK) reported a record December-quarter result, delivering 43,663 gold-equivalent ounces at an all-in sustaining cost of $2,739/oz and generating site operating cash flow of $133m. Revenue rose to $256m on higher production and stronger gold and antimony prices, lifting cash, bullion and listed investments to $246m despite $17m in tax payments. The company reiterated FY26 guidance of 160,000–175,000 gold-equivalent ounces and highlighted ongoing operational improvements at Tomingley, Costerfield and Björkdal, alongside high-grade exploration results that extended mineralisation at both Storheden and Tomingley.

Swedish government approval clears major hurdle for Talga graphite mine

Talga Group (ASX:TLG) received formal approval from the Swedish Government for the detailed zoning plan covering its Nunasvaara South graphite mine, part of the Vittangi Anode Project. The decision puts the plan into legal force, enabling detailed design and building permits ahead of development, and follows earlier approvals for the environmental permit and exploitation concession. The Vittangi project is designated both a Swedish mineral deposit of national interest and an EU Strategic Project under critical raw materials legislation, significantly reducing permitting risk as Talga advances toward financing and commercial production.

Red Hill confirms copper-gold system at depth in maiden drilling

Red Hill Minerals (ASX:RHI) reported encouraging results from its first diamond drillhole at the Anabama Copper-Gold Project in South Australia, confirming mineralisation in fresh bedrock and extending it 130m below historic drilling. Key intercepts included 20m at 0.6% copper, 0.2g/t gold and 3g/t silver from 313m, with higher-grade sub-intervals exceeding 1% copper. The results validate previous IP anomalies over a six-kilometre strike length and support the interpretation of a structurally controlled hydrothermal system, with further assays and downhole electromagnetic surveys pending.

Source: Finance News Network

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