Lunch Wrap: Gold Road cuts output, ANZ smacked with $240m fine
ANZ has been slapped with a $240m ASIC fine. Picture via Getty Images
- ASX down as healthcare tanks
- Gold Road costs surge, Bubs and GrainCorp lift
- ANZ cops $240m fine
The ASX was down about 0.3% by Monday lunchtime in the east, a sluggish start for the week.
Wall Street didn’t give us much to work with, with US indices closing mixed on Friday.
Traders are basically sitting around with their fingers crossed, waiting for Powell to hand them another rate cut this week.
Here in Sydney this morning, tech was the best performing sector.
Healthcare, on the other hand, was down 1% and looks about as defensive as an umbrella in a cyclone. CSL (ASX:CSL) shed 1.5% and ProMedicus (ASX:PME) slumped to its lowest since July.
Gold miners were also a mess.
Gold itself is lounging near record highs, above US$3,650 an ounce, but the stocks are tanking this morning because producing the stuff is never as easy as the chart makes it look.
Gold Road Resources (ASX:GOR) has just cut its Gruyere output forecast after breakdowns in the plant and thinner-than-hoped ore coming out of the pit.
GOR has now guided costs up to $2,600–$2,800 an ounce, compared with the previous $2,400-$2,600 range. Shares were down just 0.3%.
In other large cap news, Australia and New Zealand Banking Group (ASX:ANZ) grabbed headlines for all the wrong reasons.
The bank was slapped with a record $240m fine for ripping off everyone from governments to dead customers, a misconduct ASIC’s Joe Longo labelled “grubby.” Shares slipped 0.6%.
Lithium play IGO (ASX:IGO) rallied up 1% after Citi decided “sell” was too harsh and moved it to “neutral”.
Graincorp (ASX:GNC) added 2% thanks to Jefferies upping its price target. A bumper winter crop is in the works, the third biggest on record if forecasts hold.
And… AMP (ASX:AMP) rose 4% after agreeing to settle a superannuation class action for $120 million, another relic of the Hayne royal commission.
ASX LEADERS
Today’s best performing stocks (including small caps) intraday:
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| GES | Genesis Resources | 0.014 | 133% | 2,326,699 | $4,697,048 |
| KLR | Kaili Resources Ltd | 0.435 | 58% | 4,633,169 | $40,535,100 |
| ADN | Andromeda Metals Ltd | 0.018 | 46% | 44,763,337 | $45,800,117 |
| 1TT | Thrive Tribe Tech | 0.004 | 33% | 19,477,028 | $649,699 |
| IS3 | I Synergy Group Ltd | 0.009 | 29% | 366,741 | $12,046,932 |
| PEB | Pacific Edge | 0.180 | 29% | 256,852 | $143,098,964 |
| CAV | Carnavale Resources | 0.005 | 25% | 4,000,000 | $16,360,874 |
| ICR | Intelicare Holdings | 0.021 | 24% | 3,310,364 | $8,265,198 |
| SKM | Skylarkmineralsltd | 0.230 | 21% | 444,653 | $13,358,860 |
| AHN | Athena Resources | 0.006 | 20% | 267,000 | $11,329,785 |
| MOH | Moho Resources | 0.006 | 20% | 8,078,324 | $3,727,070 |
| OMG | OMG Group Limited | 0.012 | 20% | 16,195,162 | $8,909,936 |
| RAN | Range International | 0.003 | 20% | 101,216 | $2,348,226 |
| ARV | Artemis Resources | 0.007 | 17% | 62,352,274 | $22,588,033 |
| NAG | Nagambie Resources | 0.014 | 17% | 547,853 | $10,747,320 |
| PRM | Prominence Energy | 0.004 | 17% | 2,085,012 | $2,667,529 |
| RML | Resolution Minerals | 0.056 | 17% | 18,117,438 | $60,219,367 |
| TFL | Tasfoods Ltd | 0.007 | 17% | 73,000 | $2,622,573 |
| TSL | Titanium Sands Ltd | 0.007 | 17% | 69,783 | $14,068,483 |
| FXG | Felix Gold Limited | 0.325 | 16% | 3,097,189 | $122,887,187 |
| CPN | Caspin Resources | 0.074 | 16% | 3,307,916 | $11,463,762 |
| LTP | Ltr Pharma Limited | 0.670 | 16% | 1,310,740 | $64,938,519 |
| ORN | Orion Minerals Ltd | 0.015 | 15% | 1,416,167 | $97,531,224 |
| PNN | Power Minerals Ltd | 0.083 | 15% | 1,339,162 | $12,357,152 |
| RAC | Race Oncology Ltd | 1.850 | 15% | 312,208 | $279,822,210 |
Kaili Resources (ASX:KLR) has wrapped up aircore drilling across its Lameroo, Coodalya and Karte tenements on South Australia’s Limestone Coast. The crew drilled 54 holes to a depth of up to 18 metres, pulling out 973 samples that are now being scanned for rare earths. Any high-grade hits will head to ALS Adelaide for assay, with results due mid-October.
iSynergy Group (ASX:IS3) has signed a one-year strategic partnership with Malaysian gaming and software outfit Octagram. The deal is designed to push IS3 deeper into Web3 and immersive tech, with the two groups working on AI-powered marketing tools, blockchain loyalty systems, and VR/AR gaming experiences. Each party keeps full ownership of its IP, with a limited licence to use each other’s trademarks during the partnership.
Pacific Edge (ASX:PEB) says US Medicare contractor Novitas plans to convene an expert advisory panel in early 2026 to review coverage for tests tied to the 2025 AUA microhematuria guideline, including PEB’s own Cxbladder Triage. The panel will bring urologists together to help align Medicare policy with the updated guideline, a step that typically precedes draft coverage decisions.
InteliCare (ASX:ICR) has locked in $2 million through a two-tranche placement at 1.5c a share, with support from both new and existing investors. Tranche one raises about $1.83m immediately, while tranche two will add another $173k subject to shareholder approval. The raise replaces a more dilutive $600k convertible note facility, simplifying the capital structure.
ASX LAGGARDS
Today’s worst performing stocks (including small caps) intraday:
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| BYH | Bryah Resources Ltd | 0.004 | -20% | 1,180,052 | $5,142,663 |
| ERA | Energy Resources | 0.002 | -20% | 1,441,795 | $1,013,490,602 |
| MEL | Metgasco Ltd | 0.002 | -20% | 1,598 | $4,592,717 |
| RTR | Rumble Res Limited | 0.030 | -19% | 6,836,564 | $42,583,306 |
| THB | Thunderbird Resource | 0.014 | -18% | 513,834 | $6,625,604 |
| LKO | Lakes Blue Energy | 1.450 | -17% | 284,433 | $119,494,207 |
| FNR | Far Northern Res | 0.170 | -17% | 160,852 | $8,254,494 |
| AKN | Auking Mining Ltd | 0.005 | -17% | 335,000 | $4,895,979 |
| ALM | Alma Metals Ltd | 0.005 | -17% | 389,228 | $11,143,423 |
| GGE | Grand Gulf Energy | 0.003 | -17% | 197,907 | $8,461,275 |
| MRD | Mount Ridley Mines | 0.003 | -17% | 652,089 | $2,685,787 |
| EME | Energy Metals Ltd | 0.062 | -15% | 845,790 | $15,306,882 |
| NPM | Newpeak Metals | 0.023 | -15% | 884,922 | $8,886,870 |
| BIT | Biotron Limited | 0.003 | -14% | 297,512 | $4,645,360 |
| BLU | Blue Energy Limited | 0.006 | -14% | 1,450,966 | $14,900,337 |
| LML | Lincoln Minerals | 0.006 | -14% | 21,037,448 | $18,045,558 |
| MPR | Mpower Group Limited | 0.006 | -14% | 169,226 | $2,405,923 |
| RNX | Renegade Exploration | 0.003 | -14% | 1,666,668 | $7,182,105 |
| VAR | Variscan Mines Ltd | 0.006 | -14% | 1,474,551 | $6,302,005 |
| OLL | Openlearning | 0.020 | -13% | 6,479,436 | $11,104,583 |
| AEV | Avenira Limited | 0.007 | -13% | 950,000 | $34,069,152 |
| CRR | Critical Resources | 0.007 | -13% | 37,853,150 | $22,160,684 |
| MRQ | Mrg Metals Limited | 0.004 | -13% | 204,907 | $10,906,075 |
| XPN | Xpon Technologies | 0.007 | -13% | 266,472 | $3,899,026 |
| BLG | Bluglass Limited | 0.011 | -13% | 941,575 | $30,917,110 |
IN CASE YOU MISSED IT
Ausgold (ASX:AUC) is preparing for extensive drilling at the Katanning gold project (KGP) in Western Australia, with a 44,000-metre program to kick off in October.
QMines (ASX:QML) is on track to upgrade the resource at its Sulphide City deposit ahead of a pre-feasibility study into a new copper hub near the Queensland city of Rockhampton.
Locksley Resources (ASX:LKY/OTCQB:LKYRF) has stepped up exploration at the Mojave project in California after identifying a new shaft and expanding the land holding.
Nova Minerals (ASX:NVA) has taken another major step towards becoming a significant gold and antimony player by taking a stake in Adelong Gold.
Koonenberry’s (ASX:KNB) soil sampling at the Wilga Flats project in NSW has outlined a 4.2km trend consistent with epithermal gold at the nearby Cowal mine.
Bubalus Resources (ASX:BUS) is set to launch its first drilling program at Crosbie North after an IP survey identified chargeability anomalies.
Green hydrogen may have lost its gloss this year, but it still has plenty of growth opportunities as parties work towards net zero.
Related Topics
Related Stories
UNLOCK INSIGHTS
Discover the untold stories of emerging ASX stocks.
Daily news and expert analysis, it's free to subscribe.
By proceeding, you confirm you understand that we handle personal information in accordance with our Privacy Policy.
