The Australian sharemarket extended its early gains on Tuesday, reaching an 11-week high following a strong rebound on Wall Street and a sharp decline in oil prices. The S&P/ASX 200 is up, gaining 1.19% to 9,137.20 at 12:12 pm AEDT, with nine of the 11 sectors trading higher. Real estate led gains with industrials also gaining, supported by Qantas, Reece and Brambles. Mining stocks also strengthened, with BHP and Rio Tinto both rising. Communication services was the weakest sector, weighed down by a decline in TPG Telecom. The rally followed a strong session on Wall Street, where the S&P 500 gained 2.4 per cent and the Nasdaq rose 2.7 per cent as technology stocks recovered from last week’s sell-off. Nvidia bucked the trend, falling 4.3 per cent. Oil prices dropped 4.9 per cent to a 10-week low after US President Donald Trump indicated further attacks on Iran were highly unlikely, easing concerns over potential supply disruptions. The combination of lower energy prices and renewed buying in US equities helped lift investor sentiment across the Australian market.
In small cap company news,
Etherstack reported yesterday they delivered US$1.9 million milestone under UK Government contract
Etherstack (ASX: ESK) has completed its third major delivery milestone under a UK Government communications technology contract, adding US$1.9 million to expected second-half 2026 revenue. The latest delivery follows a US$1.8 million milestone achieved in September and, together with smaller deliveries, is expected to bring revenue from the project to approximately US$4 million for the six months ending December. The total contract value now exceeds £16.2 million, equivalent to approximately US$21.5 million. Etherstack confirmed that the milestone was delivered on schedule and supports its previously issued full-year revenue guidance. The company also expects potential contract extensions and is pursuing additional awards before the end of 2026.
Pantera Minerals expands Corona gold project to 731 square kilometres
Pantera Minerals (ASX: PFE) has expanded its Corona Gold Project in Western Australia by securing an additional 236 square kilometres of exploration ground along the Yellow Dam structural corridor, increasing its consolidated project area to approximately 731 square kilometres. The new tenement application lies north of BPM Minerals’ Bonnie & Clyde gold discovery, where recent drilling returned intersections including four metres at 20.57 grams per tonne of gold and eight metres at 9.23 grams per tonne. These results were reported by BPM on neighbouring ground and do not establish mineralisation within Pantera’s new tenement. Pantera plans to undertake soil sampling during the first quarter of 2027, followed by potential drilling in the second quarter, subject to heritage clearances and approvals.
Lindian Resources secures rare earths offtake ahead of December production
Lindian Resources (ASX: LIN) has signed a binding offtake term sheet with a major international rare earths refining group for concentrate from its Kangankunde Rare Earths Project in Malawi. The agreement covers 10,000 tonnes of monazite concentrate during the first year, followed by 20,000 tonnes annually over a five-year Stage 2 period. The arrangement adds to Lindian’s existing agreements with Iluka Resources and France’s Carester, diversifying its international customer base. First production at Kangankunde is targeted for December 2026, with initial shipments scheduled for January 2027. Pricing will be linked to rare earth oxide market prices, while the agreement remains subject to final contracts, production commencement and regulatory approvals.
Spacetalk targets $1.6 million in European smartwatch sales
Spacetalk (ASX: SPA) has signed sales representation agreements in the United Kingdom and Germany as it expands the international distribution of its connected smartwatches and family safety products. The agreements with TIOGO in the UK and VALOQ in Germany establish combined first-year wholesale hardware sales targets exceeding $1.6 million. Both partnerships commence immediately and cover Spacetalk’s existing and future smartwatch range. The company also sees opportunities to generate additional recurring revenue through mobile connectivity, app subscriptions and premium family safety services. However, the $1.6 million sales target is non-binding and does not represent guaranteed revenue or minimum purchase commitments.
First Graphene secures US defence and graphene oxide orders
First Graphene (ASX: FGR) has secured three customer orders worth approximately $45,000, including a repeat $35,000 order from an existing US customer supplying conductive inks for defence applications. The graphene-based inks are used in printed circuits, sensors and other electronic components. The company also received its first two commercial orders for its newly developed graphene oxide product, valued at approximately $10,000 combined. These orders will supply applications in consumer electronics and construction materials. First Graphene has been expanding its US commercial presence through distribution partnerships and the acquisition of assets from MITO Material Solutions. The latest orders provide additional revenue from an established defence customer and initial commercial sales for its graphene oxide offering.
