Australian shares traded higher on Wednesday afternoon, with the S&P/ASX 200 up gaining 0.21% to 8,812.00 at 3:00 PM AEST. The gains were driven by a rebound in mining stocks as copper climbed to its highest level in more than a month, while stronger oil prices lifted energy shares amid ongoing tensions in the Middle East. BHP, Rio Tinto and South32 led the materials sector higher, while gold miners also advanced as bullion rebounded. Energy stocks gained on higher crude prices, and Paladin Energy rallied after upgrading uranium production guidance. Healthcare and technology weighed on the market, with CSL, Pro Medicus, TechnologyOne and Xero all trading lower.
In small cap company news,
Altoro Metals (ASX: VAR) completes rebrand ahead of drilling campaign
Altoro Metals (ASX: VAR) has officially changed its name from Variscan Mines, with the company’s ASX code set to change to ARO from 23 July. The rebrand reflects Altoro’s expanded focus on zinc and polymetallic projects across Spain. The company has also outlined an active exploration program following its recent $5 million capital raising, with maiden drilling at the Guajaraz Project due to begin shortly alongside ongoing work at the Novales-Udías Zinc Project.
Carnegie Clean Energy (ASX: CCE) raises $2.5m for CETO rollout
Carnegie Clean Energy (ASX: CCE) has secured firm commitments to raise $2.5 million through a placement to support the commercialisation of its CETO wave energy technology. The raising attracted strong support from new overseas and local sophisticated investors. Funds will be used to develop a multi-megawatt CETO array in Spain, expand business development in Europe and the US, and advance defence and aquaculture applications of its technology.
Mastermyne (ASX: MYE) beats FY26 guidance
Mastermyne (ASX: MYE) has reported unaudited FY26 revenue of $237.7 million and underlying EBITDA of $20.3 million, exceeding the upper end of its guidance range. The company also finished the year with net cash of $46.5 million. Mastermyne said stronger second-half activity helped lift earnings, while its order book increased to $432 million and its pipeline of opportunities expanded to $1.5 billion heading into FY27.
Eden Innovations (ASX: EDE) reports positive Indian concrete trials
Eden Innovations (ASX: EDE) says government-backed trials in India have shown its EdenCrete® Pz7 concrete additive significantly improves concrete strength, abrasion resistance and shrinkage performance. Independent testing recorded compressive strength gains of up to 19% and abrasion resistance improvements of up to 28%. The company believes the results support broader adoption of EdenCrete® in India’s rapidly growing infrastructure market, with follow-up field trials planned for highways and other major construction projects.
Stelar Metals (ASX: SLB) identifies new tungsten drill targets
Stelar Metals (ASX: SLB) has completed an ultra-high-definition airborne survey at its Hill of Leaders Tungsten Project in the Northern Territory, identifying new geological structures and alteration zones not visible in historical data. The survey has generated a pipeline of new drill targets ahead of the company’s upcoming reverse circulation drilling program. The company is now applying AI-powered analysis to refine the highest-priority targets, with drilling expected to begin in the coming weeks. Management said the new dataset provides a stronger foundation for targeting tungsten mineralisation across the project.
