Highlights

  • Gold prices edged higher as the U.S. dollar moved toward its weakest annual performance.
  • Northern Star maintained its FY26 exploration program focusing on drilling near existing mines.
  • Liontown completed open pit mining at Kathleen Valley and transitioned to underground operations

Share prices across the mining space surged on the back of a rally in gold prices, supported by a softer U.S. dollar and expectations of potential U.S. Federal Reserve rate cuts in 2026. The dollar moved toward its weakest annual performance in more than two decades, strengthening the appeal of gold and other commodities. Gold rose 0.12% to USD 4,513.15, while silver climbed 1.28% and copper gained 0.40%, reinforcing positive sentiment across the resources sector.

Name

Ticker

CMP in AUD (as on 24 Dec 2025)

% Change (24 Dec 2025)

6-Month Change

9-Month Change

Northern Star Resources

(ASX:NST)

27.01

1.16%

40.09%

51.74%

Perseus Mining Limited

(ASX:PUR)

0.097

1.04%

155.26%

70.18%

Liontown Limited

(ASX:LTR)

1.67

4.70%

145.59%

156.92%

 

Northern Star Details FY26 Exploration Program (ASX:NST)
Northern Star Resources (ASX:NST) on 05 December company announced as per latest update an exploration update covering its FY26 program, maintaining its exploration budget at AUD 225m. Spending remains largely focused on near-mine drilling and resource definition. At Kalgoorlie, drilling extended mineralisation at Fimiston South to greater depths and outlined new prospects, including Golden Goose. Additional work at Hercules and Ballarat–Last Chance improved geological understanding. At Yandal, drilling targeted extensions close to existing infrastructure. At Pogo, underground and surface drilling identified additional high-grade zones, while at Hemi, drilling between deposits and at Mt Berghaus highlighted further mineralised continuity, supporting ongoing resource evaluation.

Perseus Expands Credit Facility and Liquidity (ASX:PRU)
Perseus Mining Limited (ASX:PRU) on 23 December announced a corrected update on the refinance and expansion of its syndicated revolving credit facility, confirming Macquarie Bank Limited as a Mandated Lead Arranger. The amended facility has increased from USD 300m to USD 400m, with an additional USD 100m accordion option. The facility carries a three-year tenor with two one-year extension options and is priced at SOFR plus a margin linked to leverage. As at 30 September 2025, Perseus reported a net cash position of USD 837m, lifting total available liquidity to more than USD 1.23Bn. The new facility replaces a March 2026 maturity and supports general corporate purposes under revised financial covenants.

Liontown Completes Open Pit Phase at Kathleen Valley (ASX:LTR)
Liontown Limited (ASX:LTR) on 22 December confirmed the completion of open pit mining at its Kathleen Valley Lithium Operation, transitioning the project to a fully underground mining operation. Open pit activities concluded on schedule after three years, delivering material for the ROM pad and TSF, as well as initial mill feed for plant commissioning and ramp-up. Recent quarters saw open pit production exceed targets, resulting in ore stockpiles that are expected to support consistent mill feed alongside underground ore through early FY27. Underground mining development and production are progressing in line with plans, with the operation moving toward steady-state underground production of 2.8 Mtpa.