Daily Special: Victory Metals, AML3D, FortifAI

Australian shares are higher at midday, with the S&P/ASX 200 up 1.5% to 8612.70, as eight of the 11 sectors trade higher and markets track a strong lead from Wall Street alongside improved sentiment around the Iran war. The gains come after the ASX 200 fell 7.8% in March, marking its steepest monthly drop since June 2022 amid concerns over a prolonged Middle East conflict. Oil prices are steady, with Brent crude around US$104 a barrel.

Across the sectors, materials are stronger, with gains in BHP, Rio Tinto and Newmont, while lithium stocks are also higher. Technology stocks extend recent gains, and the major banks are higher but lag the broader market. Energy stocks are weaker despite elevated oil prices. In company news, Perenti appoints a new chief executive as part of a leadership transition and Star Entertainment says its partners have taken full control of the Queen’s Wharf precinct in Brisbane.

In other company news,

Victory Metals (ASX: VTM) reported metallurgical test results from its North Stanmore Heavy Rare Earth Project in Western Australia, with leaching achieving more than 70% extraction of key elements including dysprosium, terbium and yttrium. The test work followed a flotation upgrade to 5.9% TREO and used standard agitated tank conditions with low acid consumption. The results support a conventional processing pathway and indicate potential for lower capital intensity development.

AML3D (ASX: AL3) completed commissioning of its ARCEMY X 6700 system for US-based manufacturer FasTech, finalising a contract valued at approximately $1.7 million. The installation was delivered from the company’s Ohio facility and triggers final payment under the agreement. The project expands AML3D’s presence beyond defence into broader industrial manufacturing markets in the United States.

FortifAI (ASX: FTI) reported results for its Nol8 AI Data Plane technology against Google’s RE2 engine, with testing showing a throughput advantage of more than 200,000 times under high-complexity workloads. The system maintained a constant throughput of 1,500 MB/s across all test conditions, while comparative software performance declined as complexity increased. The results support ongoing development ahead of a planned enterprise-ready engine targeted for June 2026.