In a year when the ASX has been a mixed bag for investors, one name has stood out with a golden glow—Regis Resources (ASX: RRL). While larger miners have stumbled or treaded water, Regis has surged ahead, more than doubling its share price in 2025. It’s a surprising rally for a company that was struggling with profitability just a year ago. So, what exactly is fueling this impressive turnaround?

Let’s dig into the data and uncover what’s really driving Regis Resources’ explosive performance—and whether it has room to run further.

1. Operational Strength: Turning Gold into Profits

Regis Resources has delivered a standout operational performance in the first half of FY25. The company produced nearly 196,000 ounces of gold, and this wasn’t just about volume—it was about profitability.

Here’s what the numbers look like:

1. Operating cash flow: $347.73 million (up 176.3% YoY)
2. EBITDA: $359 million (119% increase YoY)
3. Statutory net profit: $88 million (vs $91 million loss in H1 FY24)

This shift from a heavy loss to a solid profit signals more than a recovery—it shows Regis has re-established control over its cost base and is operating its assets with much greater efficiency.

Its two key operations, Duketon and a 30% stake in the Tropicana mine, are now stable cash generators. The consistency and predictability of output from these sites is a huge factor behind the company’s turnaround—and investors have taken note.

2. Soaring Gold Prices: A Perfect Tailwind

Gold has been one of the best-performing assets in 2025, with prices climbing above A$3,900/oz—an all-time high in local currency terms. While many miners hedge their gold sales to reduce price risk, Regis has kept its exposure relatively open.

This means Regis has been able to fully benefit from the surge in spot gold prices, boosting its margins significantly. With costs now well under control, every extra dollar per ounce flows straight into profits.

This favourable macro backdrop has acted like jet fuel for the company’s bottom line—and, by extension, its share price.

3. Exploration Upside: More Gold in the Ground

While the company is reaping rewards from existing mines, it’s also investing heavily in exploration—particularly across its Duketon land package, where Regis holds large tenement positions.

Recent drilling results have hinted at potential resource upgrades, which could extend the life of its mines and offer future production growth. Investors love to see not just profits today, but sustainability and scale tomorrow—and Regis is positioning itself to offer both.

With continued capital going into exploration, the potential for reserve growth remains a key part of the long-term bull case for RRL.

4. M&A Optionality: Ready to Strike

In early 2025, Regis was among the bidders for the Ravenswood Gold Mine—a sign that management is actively scouting for value-accretive acquisitions. While it didn’t win the asset, the move showed a clear intent: the company is in expansion mode.

And unlike many juniors that are overleveraged or cash-strapped, Regis has the financial muscle to make deals happen:

1. Strong cash flows
2. Minimal debt
3. A disciplined capital allocation strategy

Should the right opportunity come along, Regis is in a great position to strike.

5. Institutional Confidence Is Growing

For much of the last few years, Regis traded at a discount compared to gold mining giants like Northern Star and Evolution. But with fundamentals improving and gold prices remaining supportive, investors are starting to re-rate the stock.

In fact, more than 50% of RRL’s shares are now held by institutional investors—a sharp increase that signals growing market confidence.

Broker upgrades have followed, with several analysts revising their price targets upward. As more fund managers look for gold exposure, Regis—still small compared to its larger peers—offers both value and upside.

Looking Ahead: What Could Drive the Next Leg Higher?

As Regis Resources rides high on its recent success, investors are beginning to wonder—what could drive the next leg higher? The outlook remains promising on multiple fronts. Gold prices are likely to stay elevated in the near to medium term, driven by ongoing global economic uncertainty, geopolitical tensions, and continued central bank purchases. This provides a favourable pricing environment for gold miners like Regis. On the operational side, production is expected to remain stable or even grow modestly through FY25–26, supported by consistent output from the Duketon and Tropicana assets. Moreover, Regis is actively exploring high-potential zones within its existing tenements, particularly at Duketon, which could lead to reserve upgrades and extended mine life. Beyond organic growth, the company is also positioning itself for strategic acquisitions, as demonstrated by its recent interest in the Ravenswood Gold Mine.

Final Thoughts: Not Just Riding the Gold Wave

There’s no denying that gold’s rally has helped Regis Resources immensely. But this is not just a “rising tide lifts all boats” scenario. Regis is outperforming peers because it’s executing exceptionally well.

From smarter cost controls and improving margins to exploration upside and acquisition potential, Regis is checking all the boxes that investors want in a gold miner.

For those looking to participate in the gold boom—but with a name that still offers relative value—Regis Resources (ASX: RRL) is fast becoming a standout pick. It’s a reminder that in mining, execution matters—and Regis is delivering in gold.

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

Let’s face it — inflation is the silent thief in the room.

You earn, you save, and you invest… and then inflation quietly chips away at your purchasing power like termites in a wooden cabinet.

This is why smart investors don’t just look for dividends — they look for dividends that grow.

In the world of investing, dividend growth is like the golden goose. It gives you passive income, but instead of the eggs staying the same size every year, they get a little bigger. That’s how you beat inflation — slowly, steadily, and with the right picks in your portfolio.

And guess what? The ASX has some hidden champions that have been quietly doing this for years.

Let’s talk about three underrated dividend growers that deserve your attention:

1. Macquarie Group (ASX: MQG)
2. Sonic Healthcare (ASX: SHL)
3. APA Group (ASX: APA)

Macquarie Group (ASX: MQG)

The Dividend Powerhouse That Doesn’t Flinch

Imagine an investment bank that’s not just about sharp suits and complex jargon — but one that consistently rewards shareholders year after year. That’s Macquarie Group for you.

Often described as the “quiet achiever” of global finance, Macquarie blends asset management, infrastructure financing, commodities trading, and banking into one powerful machine. It has its hands in nearly every major global sector.

The Numbers Behind the Curtain (H2 FY24):

Revenue: $16.30 billion

Net Profit: $2.03 billion

Return on Equity (ROE): 10.41%

Dividend Paid in FY24: $6.50 per share (fully franked)

Yes, that’s more than some people’s rent.

But what really stands out is this: Macquarie doesn’t just pay dividends — it grows them. Its dividend CAGR over the past decade is proof that MQG knows how to balance growth and reward.

Why it fights inflation well:

1. Global footprint = diversified revenue streams
2. Real asset exposure (infra, energy) = inflation-linked income
3. Strong capital management = consistency in payouts

Sonic Healthcare (ASX: SHL)

Boring Business. Beautiful Results.

Diagnostics may not sound exciting, but when you peel back the curtain, Sonic Healthcare is a beast in disguise. Operating across Australia, the US, and Europe, this company runs one of the largest pathology and imaging networks on the planet.

It’s not flashy, but it’s resilient — and the pandemic only highlighted its essential role in global healthcare.

Here’s What They’ve Done (H1 FY25):

Revenue: $4.66 billion

Net Profit: $236.68 million

ROE: 6.86%

FY24 Dividend: $1.06 per share

Sonic has been paying and growing dividends for more than two decades. That’s not just rare — it’s elite.

Why Sonic defies inflation:

1. Aging populations = long-term demand
2. Healthcare is non-cyclical = stable cash flows
3. Operations across continents = natural hedge against inflation shocks

In a nutshell: People will always need medical testing, and Sonic’s scale means it’ll always be there — growing slowly, but surely.

APA Group (ASX: APA)

The Reliable Tortoise in the Dividend Race

If you love consistency, APA Group might just be your spirit animal. While others chase high-growth tech or ride speculative waves, APA has been quietly building Australia’s energy backbone — gas pipelines, wind farms, and soon, hydrogen.

The business model is straightforward: build essential infrastructure, lock in long-term contracts (many inflation-linked), and collect steady income.

What They Delivered (H1 FY25):

Revenue: $1.61 billion

Net Income: $18 million

FY24 Distribution: 56 cents per share

Distribution Growth: 20+ years without a cut

This is the kind of stock that doesn’t make headlines — but it makes a difference in your dividend income.

Why APA quietly beats inflation:

1. Inflation-linked contracts = built-in pricing power
2. Essential services = stable demand
3. Renewable transition = long-term growth optionality

APA doesn’t just pay. It compounds. Like a good habit or a smart decision.

Final Thought: Growth You Can Count On

When inflation runs wild, you need more than just returns — you need resilience.

All three companies — Macquarie, Sonic, and APA — have proven they can thrive in changing economic conditions, reward shareholders consistently, and raise the bar each year. These aren’t meme stocks or moonshots. They’re long-term companions in the journey to financial freedom.

If you’re tired of watching inflation erode your savings, it’s time to start focusing on dividend growers, not just dividend payers.

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

When markets get jittery, many investors flee to the sidelines. But not me. While short-term volatility can shake even seasoned hands, I see it as an opportunity—especially when it comes to Insurance Australia Group (ASX: IAG).

Despite the noise around rising reinsurance costs and natural disasters, I’m still buying IAG stock. Why? Because this company has the brand strength, financial discipline, and long-term strategy to not just survive—but thrive.

Let’s dive into what keeps me bullish on IAG even during turbulent times.

1. Insurance Is Cyclical—but Built to Last

The insurance industry moves in predictable cycles. When natural disasters hit, insurers face a wave of claims. But soon after, premiums rise, loss ratios improve, and margins recover.

We’ve seen this play out over the past few years. IAG faced a tough environment—intense floods, higher repair costs, and macro uncertainty. But through it all, it remained resilient, showing that its business model is designed to withstand shocks.

This resilience is why IAG remains a cornerstone of my long-term portfolio.

2. Strong Brand Portfolio = Pricing Power

IAG isn’t just another insurer—it owns some of the most trusted brands in Australia and New Zealand, including:

1. NRMA Insurance
2. CGU
3. SGIO & SGIC
4. WFI
5. AMI (NZ)

These are not just logos—they are trusted names built over decades. This level of brand recognition gives IAG a wide moat. It’s incredibly difficult for new players to break into the market when consumers automatically associate IAG brands with reliability and service.

And in insurance, trust is everything. That trust translates into customer retention and, importantly, pricing power.

3. Dividends That Deliver

In a volatile world, reliable dividends are gold. IAG has done well to continue rewarding shareholders even when the environment has been rough.

Latest dividend: $0.12 per share
Trailing twelve-month dividend yield: 3.43%

It’s not sky-high, but it’s sustainable and consistent—two traits that matter more than ever in a shaky macro climate. And with earnings improving, there’s scope for dividend growth in the next few years.

4. Strong Financials in FY25

The company’s performance in the first half of FY25 reinforces my optimism:

Revenue: $8.84 billion — up 9.56% YoY

Net Profit: $778 million — up a whopping 91% YoY

P/E Ratio: 17.17x — a fair valuation for a stable business

These numbers show IAG is not just surviving—it’s growing, and at a healthy pace.

5. Smart Reinsurance Strategy = Lower Risk

Yes, reinsurance costs are up globally, and this remains a key risk. But IAG has responded with strategic adjustments to its reinsurance program.

Key highlight:
Multi-year quota share agreements with Munich Re and others
These deals reduce exposure to catastrophic losses and help stabilise earnings.

This proactive risk management shows me that IAG’s leadership isn’t just reactive—they’re strategic, working ahead to build more predictable margins in an unpredictable world.

6. Digital Transformation Is Quietly Paying Off

While tech companies get all the digital headlines, IAG has been making meaningful progress behind the scenes. Through its “Customer Labs” and investment in AI-powered underwriting and claims automation, the company is:

1. Reducing operating costs
2. Speeding up claims processes
3. Improving customer satisfaction

This shift is slow and steady—but it’s creating operational leverage. As margins expand over time, so does the potential for earnings growth and dividend increases.

7. Still Below Pre-COVID Highs = Room to Grow

Despite its recent rally, IAG stock still trades below its pre-COVID peak. And that, in my view, creates an opportunity.

If the company continues to build on its FY25 momentum, improve risk control, and benefit from higher yields on its investment portfolio, capital appreciation is on the table—on top of the dividend income.

Outlook: Optimism with Caution

Let’s be real. IAG isn’t a growth rocket like a tech stock. It won’t double overnight. And yes, it faces short-term risks:

1. Higher claims from natural catastrophes
2. Reinsurance cost inflation
3. Ongoing market volatility

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

Once a pillar of trust in Australia’s financial services landscape, AMP Limited (ASX: AMP) has seen its reputation — and stock price — battered over the past few years. From regulatory scandals to strategic missteps, the company has struggled to win back investor confidence. However, with the dust starting to settle, one big question arises: Is AMP now undervalued at current prices?

Let’s take a closer look at what’s changed, what’s improving, and why AMP may be entering a new phase — one where value investors might want to pay attention.

A Glance in the Rearview Mirror: AMP’s Troubled Past

AMP’s fall from grace is well documented. In 2018, it was one of the major casualties of Australia’s Royal Commission into misconduct in the banking, superannuation, and financial services industry. The revelations led to massive client remediation costs, executive resignations, and a sharp erosion of public trust.

As a result, AMP’s share price has declined by over 70% since its 2018 highs, leaving a trail of disillusioned investors in its wake. But past performance is not always indicative of future results — and that might be exactly where AMP’s opportunity lies.

What AMP Does Today – A More Focused Business

AMP has significantly simplified its business model. Today, the company operates across three core segments:

1. AMP Bank: A retail-focused bank providing home loans and deposit products.
2. Platforms: Delivering investment and superannuation solutions to Australians.
3. New Zealand Wealth Management: Financial advice and wealth services across the Tasman.

Importantly, AMP has exited its non-core and capital-intensive segments, such as AMP Capital and life insurance, which were previously weighing down overall performance.

Signs of a Turnaround – Restructuring That Matters

In recent years, AMP has taken meaningful steps to transform its operations and restore shareholder value:

Asset Sales: Strategic divestment of life insurance and infrastructure assets has helped de-risk the balance sheet.
Capital Returns: The company has completed a share buyback and capital return, signaling confidence in its future cash flows.
Leadership Overhaul: Under CEO Alexis George, the company is embracing cultural reform and refocusing on core competencies.

These aren’t just cosmetic changes — they’re starting to show up in the numbers.

Improved Financials: A Quiet but Real Comeback

In H2 FY24, AMP reported net income of $83 million, a stark reversal from a $34 million loss in the same period last year.

The current P/E ratio of 20.62 and P/B ratio of 1.01 indicate that the market is pricing AMP near its book value — despite improving profitability and a cleaner structure. The most recent dividend of $0.01 per share may be modest, but it reflects cautious optimism and financial discipline.

AMP Bank – The Underappreciated Engine

Although it lacks the scale of Australia’s “Big Four” banks, AMP Bank is quietly gaining ground:

Home loan book grew ~6% in FY24

Net Interest Margin (NIM) remains resilient, despite rising interest rates

Low delinquency rates show healthy credit quality

With rising housing demand and increased refinancing activity, AMP Bank could become a reliable contributor to overall group profitability.

So, Why Is the Market Still Skeptical?

Despite the recovery signs, AMP still trades as if it’s stuck in the past. Why?

1. Lingering distrust from past scandals
2. Pessimism around the wealth management industry
3. Slow pace of transformation
4. Limited analyst coverage and investor fatigue

Yet, this disconnect between perception and fundamentals is exactly what creates a potential value play.

What Could Drive a Re-rating? – The Upcoming Catalysts

Here are five key triggers that could boost AMP’s share price and shift market sentiment:

1. Further Cost Reductions – Already underway, efficiency gains will improve margins and ROE.
2. Improved Profitability from AMP Bank – Higher NIMs and loan book growth could surprise the market.
3. Capital Management – More buybacks or higher dividends could reward shareholders.
4. Regulatory Stability – With fewer legacy issues, AMP is better positioned to rebuild its brand.
5. Earnings Upside – Continued earnings beats could shift the narrative from recovery to growth.

Valuation: Undervalued or Simply Ignored?

AMP currently trades close to its book value, and its P/E ratio remains below many financial sector peers. When you factor in:

1. Streamlined business structure
2. Steady earnings recovery
3. Shareholder-friendly capital returns
4. Undervalued banking arm

It becomes harder to justify such a low valuation unless one believes AMP will stumble again — which current data doesn’t support.

Final Verdict: A Long-Term Opportunity?

AMP isn’t a momentum stock. It won’t double in a month, and there are no guarantees that its transformation will be flawless. But for patient investors, AMP offers a rare combination:

1. A business that’s improving
2. A stock that’s unloved
3. And a valuation that’s hard to ignore

The worst appears to be behind AMP. And while many investors remain focused on the past, those willing to look ahead may find an undervalued gem hiding in plain sight on the ASX.

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

While giants like BHP and Rio Tinto dominate headlines, a few small-cap mining stocks are silently outperforming the ASX in 2025. These hidden gems, often overlooked by large institutions, are proving that size isn’t everything when it comes to delivering returns. Whether it’s through strategic exploration, operational efficiency, or a timely pivot in production strategy, these companies are catching the attention of savvy investors seeking alpha.

Let’s dive into three ASX-listed small-cap mining stocks—Regis Resources, Caprice Resources, and Ora Banda Mining—that are quietly delivering strong results and beating broader market indices.

1. Regis Resources Ltd (ASX: RRL)

The Gold Producer with Big-Cap Strength in a Small-Cap Body

Company Overview:
Regis Resources is a mid-tier gold producer headquartered in Perth, Western Australia. It operates several open-pit mines under the Duketon Gold Project and holds a 30 percent interest in the Tropicana Gold Project, operated by AngloGold Ashanti. The company has long focused on producing gold at a low cost while maintaining strong reserve growth.

Why It’s Outperforming the Market:

1. Gold Price Tailwinds: With global inflation and economic uncertainty still lingering in 2025, gold prices have held above 3,000 oz. This directly benefits Regis, whose operations are highly leveraged to gold prices.
2. Operational Efficiency: Regis maintains a low all-in sustaining cost (AISC), which allows for wider profit margins. Recent reports show AISC of approximately 1,370 AUD/oz, significantly below peers.
3. Disciplined Capital Management: The company has focused on strengthening its balance sheet while reinvesting selectively in exploration and mine expansion, avoiding overleveraging.

Share Price Performance:
Over the past 12 months, RRL’s share price has jumped more than 150 percent, thanks to a combination of strong quarterly earnings, rising gold prices, and improved investor sentiment toward gold miners.

Outlook:
Regis stands out as a small-cap stock that offers big-cap reliability. Analysts expect further earnings growth and potential dividend increases, especially if gold prices remain stable or rise. The company is well-positioned to remain profitable, even if the market turns volatile.

2. Caprice Resources Ltd (ASX: CRS)

The Pure Explorer with High-Grade Gold Potential

Company Overview:
Caprice Resources is a junior gold explorer focusing on its Island Gold Project in the Murchison region of Western Australia. Unlike producers, Caprice doesn’t yet generate revenue but creates value through discovery and development.

Why It’s Outperforming the Market:

1. Impressive Exploration Results: Caprice has released several high-grade gold drill results, including 6.4 grams per tonne over 28 metres. These results have triggered strong market interest and speculation about future discoveries.
2. Attractive Entry Point: Being a micro-cap stock, Caprice started with a very low market valuation. Even modest progress in exploration has led to sharp upward re-ratings.
3. Favorable Regional Focus: Murchison has become a hotspot for gold exploration in 2025, with increased activity from both small explorers and mid-tier producers looking for acquisitions.

Share Price Performance:
CRS has been one of the best-performing micro-cap stocks in 2025, soaring over 200 percent year-to-date. This performance has outpaced the ASX Small Ordinaries Index by a wide margin and signaled growing confidence from retail and institutional investors.

Outlook:
Caprice is a high-risk, high-reward proposition. The company plans to continue aggressive drilling through 2025. If further results are successful, a maiden JORC-compliant resource estimate could provide a significant valuation uplift. Investors should monitor drilling updates closely.

3. Ora Banda Mining Ltd (ASX: OBM)

From Struggler to Standout—A True Turnaround Story

Company Overview:
Ora Banda operates in the Eastern Goldfields of Western Australia and owns the Davyhurst Gold Project. The company also operates the Riverina underground mine, with an established processing plant and infrastructure in place.

Why It’s Outperforming the Market:

1. Production Ramp-Up: The company increased production significantly from the Riverina underground mine. Total gold production hit 85,000 ounces last year, with plans to exceed 100,000 ounces in 2025.
2. Cost Control and Strategy Shift: By cutting costs and focusing on higher-grade underground deposits, Ora Banda has become more efficient and sustainable. Its new exploration strategy is yielding positive early results.

Share Price Performance:
OBM has seen a solid rebound, with shares rising significantly in the last 12 months. Investors have responded positively to its turnaround strategy, profitability, and future growth potential.

Outlook:
Ora Banda’s story is no longer one of survival, but one of growth. With fresh drilling underway at the Sand King and Riverina South prospects, there’s potential for resource expansion and life-of-mine extension. OBM is positioning itself as a serious contender in the small-cap gold production space.

Investor Takeaway

The small-cap mining space is often ignored due to its volatility, but that’s where opportunity often lies. These three ASX-listed companies have shown that with the right strategy, even lesser-known miners can deliver outsized returns:

1. Regis Resources offers a more conservative route with strong production and earnings leverage to gold.
2. Caprice Resources is a speculative gem that could explode in value if exploration success continues.
3. Ora Banda Mining has shown what’s possible when a company gets its act together and executes a disciplined turnaround.

As always, investing in small-cap mining stocks requires due diligence and risk management. But for those with an appetite for growth and the patience to ride short-term volatility, these three companies could offer a golden opportunity in 2025 and beyond.

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

When interest rates rise, most companies start to sweat—debt becomes costlier, consumers pull back, and growth slows. But not every stock wilts under pressure. In fact, some thrive.

Enter Insurance Australia Group (ASX: IAG) — a powerhouse in the general insurance space that is proving to be one of the rare winners in a high-interest-rate environment.

At a time when investors are looking for shelter from rate-driven volatility, IAG is quietly delivering the kind of performance that makes it a compelling pick for both income and growth.

Company Snapshot: Who Is IAG?

IAG isn’t just another name in the insurance game—it’s a market leader. With a presence across Australia and New Zealand, IAG owns a suite of trusted brands including:

1. NRMA Insurance
2. CGU Insurance
3. SGIO and SGIC
4. AMI (New Zealand)

The company offers a wide range of general insurance products—car, home, business, and travel—and serves millions of policyholders.

Importantly, IAG also manages an investment portfolio exceeding $10 billion, making it highly sensitive to interest rate movements. As rates rise, the return on this massive asset base rises too—a hidden lever that powers profits.

Financial Performance: Strong First Half of FY25

IAG has already shown its strength in the current high-rate climate:

Revenue: $8.84 billion in H1 FY25, up 9.56% YoY

Net Income: $778 million, a whopping 91% YoY growth

P/E Ratio: 17.19, reflecting moderate valuation

Dividend: $0.12 per share, with a 3.43% trailing yield

The numbers tell a clear story—IAG is not just surviving, it’s thriving.

Growth Drivers: Why IAG Benefits From Higher Rates

1. Higher Investment Income

Insurance companies collect premiums upfront, often long before they pay out claims. This money is typically parked in safe investments like government bonds.

When rates are low, returns on these investments are minimal. But as interest rates climb, so do the yields.

In FY24, IAG’s investment income surged thanks to rising yields—a trend that looks set to continue if interest rates remain elevated. This means the company can generate more income simply by holding onto policyholder premiums.

2. Premium Rate Increases

Insurance premiums are rising, and IAG has been proactive in passing these increases on to customers. The company reported double-digit premium growth, particularly in car and home insurance, where inflation and climate-related claims have driven costs higher.

Rather than absorb the hit, IAG has maintained its margins by adjusting its pricing model. In fact, gross written premiums (GWP) increased by more than 10% YoY—a sign of both pricing power and customer loyalty.

3. Strong Capital Position

High interest rates make borrowing expensive. But IAG is sitting pretty.

Its balance sheet is well-capitalised, with regulatory capital comfortably above required levels. This reduces its reliance on debt and gives it more flexibility in managing operations and returning capital to shareholders.

With a conservative financial structure, IAG is insulated from the risks that are plaguing over-leveraged companies.

4. Efficiency Through Innovation

IAG is not resting on tradition. It’s investing heavily in digital transformation, including:

1. Claims automation
2. AI-based fraud detection
3. Data-driven risk assessment

These tools are expected to improve customer service, speed up processing, and reduce claim leakage. Over time, that translates to better margins and stronger profitability.

What Makes IAG Stand Out in 2025?

Let’s break it down:

1. Defensive Business Model: Insurance is a must-have, even during economic slowdowns. That makes IAG relatively recession-resistant.
2. Positive Rate Sensitivity: Unlike many businesses that struggle when rates rise, IAG actually benefits from it.
3. Reliable Dividends: A steady income stream with a yield of over 3% makes IAG attractive for income-focused investors.
4. Proven Profit Growth: With net income nearly doubling in H1 FY25, the company has demonstrated it can grow even in tough environments.
5. Smart Capital Allocation: Strong reserves and disciplined cost management set it apart from peers.

Risks to Watch

No investment is without risk. For IAG, key challenges include:

1. Extreme Weather Events: Floods, fires, and storms can increase claim volumes unexpectedly.
2. Regulatory Pressures: Changes in capital requirements or pricing guidelines could impact operations.
3. Customer Retention: Premium hikes may test loyalty, though IAG’s strong brand helps mitigate this.

However, the company’s proactive risk management strategies and diversified brand portfolio offer strong defenses.

Final Verdict: A Smart Pick in a High-Rate Economy

In a world where rising interest rates are squeezing corporate profits and dragging down growth stocks, Insurance Australia Group (ASX: IAG) emerges as a clear winner.

It is well-positioned to benefit from:

1. Increasing premium income
2. Strong operational execution
3. A capital-light, low-debt structure

All while paying a solid dividend and keeping costs in check.

For investors seeking a balance of stability, income, and upside potential, IAG could be a strong addition to the portfolio—particularly in this new era of elevated interest rates.

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

As geopolitical tensions escalate — from conflict zones in Eastern Europe to strategic competition in the Indo-Pacific — defence spending around the globe is on the rise. For investors, this renewed focus on national security is creating strong tailwinds for defence stocks. In fact, many companies involved in military infrastructure, naval defence, and advanced weapons systems are starting to see booming order books and rising revenues.

The Australian Securities Exchange (ASX) is home to several defence-related businesses, but two in particular — Austal Ltd (ASX: ASB) and Electro Optic Systems Holdings Ltd (ASX: EOS) — stand out as strong candidates for capitalising on this global shift.

1. Austal Ltd (ASX: ASB)

Global Naval Shipbuilder with a Record Order Book

🔍 Overview:
Austal is a world-class designer and manufacturer of high-speed vessels and defence ships. With shipyards in Australia and the U.S., it supplies naval fleets for top military clients including the U.S. Navy, Royal Australian Navy, and Coast Guard services across the globe.

Why Austal Could Soar:

1. Record $14.2 Billion Order Book:
   The company’s backlog hit an all-time high, ensuring revenue visibility for the next several years.
2. Strategic U.S. Presence:
   Its American shipyard is proving to be a crucial asset, helping Austal win multi-billion dollar defence contracts and participate in U.S. fleet modernisation programs.
3. Support from AUKUS:
   As part of the AUKUS pact, Australia is investing heavily in naval infrastructure, including submarines and combat ships—a direct win for Austal.

Financial Highlights

In the first half of FY25, Austal delivered a strong set of financial results that reflect its solid operational performance and growing global footprint. The company reported total revenue of $825.73 million, marking a 15% year-on-year increase, driven by progress across key shipbuilding contracts. Net income more than doubled compared to the same period last year, rising to $25.11 million, thanks to improved cost efficiency and project execution. One of the most notable improvements was in operating cash flow, which surged 609% to $238.32 million, indicating stronger cash generation and enhanced working capital management. However, the company’s price-to-earnings (P/E) ratio currently stands at 77.7, signaling that the market is factoring in strong future growth potential. While this high valuation may seem stretched, it underscores investor confidence in Austal’s long-term contract pipeline and global relevance in defence manufacturing.

Risks to Consider:

1. Relies heavily on large government contracts.
2. Profit margins are vulnerable to fluctuations in steel prices and labour costs.
3. Changes in defence procurement policies could delay revenue recognition.

Investment View:

Austal is a mature, stable defence player with a global reputation and robust financials. For investors seeking long-term reliability and exposure to naval defence, this stock fits the bill.

2. Electro Optic Systems Holdings Ltd (ASX: EOS)

High-Tech Defence Innovator with Global Potential

🔍 Overview:
Canberra-based EOS is a cutting-edge technology company operating in both defence and space sectors. It develops advanced systems including:

1. Remote Weapon Stations (RWS)
2. Counter-Drone Technologies
3. Laser-Directed Energy Weapons
4. Space Surveillance Systems

Its customer base spans across Australia, the U.S., Europe, and Asia, and the company plays a vital role in modernising defence through innovation.

Why EOS Could Soar:

1. Boom in Drone Warfare:
   The rise of autonomous drones and UAVs in warfare has created urgent demand for counter-drone and laser defence systems—EOS’s specialty.
2. New Contracts & Pipeline:
   Recent wins include:

            A $28 million order for its R600S weapon station.

            Active negotiations with Ukraine, Germany, and Southeast Asia for further contracts.

3. Turnaround in Progress:
   After financial troubles in 2022, EOS has streamlined operations, sold non-core businesses, and refocused on high-margin products—putting it on a path to recovery.

Financial Highlights

Electro Optic Systems, while still in recovery mode, is showing signs of stabilisation. In the second half of FY24, the company posted revenue of $33.93 million, a modest figure that reflects its transition towards higher-margin, next-gen defence solutions. However, the company also reported a net loss of $15 million during the same period. This loss, while notable, is largely attributed to ongoing investments in research, product development, and international expansion efforts. Importantly, EOS has taken steps to strengthen its balance sheet by offloading non-core operations and streamlining its cost structure. While it hasn’t yet returned to profitability, these strategic moves have positioned the company for a potential turnaround as defence demand for its advanced technologies continues to grow.

Risks to Consider:

1. Highly project-based, leading to inconsistent earnings.
2. Global supply chain delays could impact delivery schedules.
3. Still working its way out of a period of restructuring and recovery.

Investment View:

EOS is a high-risk, high-reward stock. Its strength lies in its innovation, relevance in modern warfare, and growing international recognition. For those willing to stomach some volatility, EOS could deliver strong long-term gains.

Final Thoughts: Defence in a Volatile World

As the world faces unpredictable conflicts and military threats, defence stocks are likely to become a defensive play with offensive upside. Austal and EOS represent two ends of the spectrum—one built on scale and stability, the other on technology and disruption.

Adding either (or both) to a diversified portfolio could provide protection in uncertain times while tapping into the rising tide of global defence spending.

When planning for retirement, the goal shifts from building wealth to preserving it — and generating reliable, stress-free income. One ASX-listed stock that consistently pops up in retirement income conversations is APA Group (ASX: APA).

As one of Australia’s largest infrastructure businesses, APA is a staple in many income-focused portfolios. But the real question is — can retirees count on APA for consistent, growing income over the long haul? Let’s unpack APA’s fundamentals, dividend strength, and future outlook to see whether it fits the bill for your golden years.

APA Group at a Glance: A Backbone of Australian Energy

APA Group is Australia’s leading natural gas infrastructure operator, owning and managing:

• Over 15,000 km of gas transmission pipelines
• Gas storage, processing, and compression facilities
• Growing assets in electricity transmission, wind, solar, and battery storage

APA plays a vital role in ensuring gas and electricity reach millions of Australians, from households to power stations. This essential infrastructure generates predictable, long-term revenue streams, which are largely contracted or regulated — a dream scenario for retirees looking for financial security.

A Consistent Dividend Performer

One of APA’s biggest attractions for retirees is its reliable and growing dividend.

 Latest dividend: $0.30 per share

 Trailing twelve-month (TTM) yield: 6.83%

 Dividend history: Over 20 years of uninterrupted payouts, with consistent growth

While APA dividends are unfranked, the high yield more than compensates for the absence of tax credits. This income consistency makes APA a compelling option for self-managed super funds (SMSFs), pension-phase investors, or anyone seeking stable retirement cash flow.

Financial Health Snapshot (H1 FY25)

APA’s financials reflect the strength and predictability retirees should look for:

Total revenue: $1.61 billion, up 6.9% YoY

Net income: $18 million — modest, but expected due to investment cycles

Operating cash flow: Surged 12% to $666 million

Dividend cover: Backed by robust cash flows, not just accounting profits

APA’s operating cash flow continues to cover dividends comfortably. And the company maintains access to low-cost capital, thanks to its stable earnings and investment-grade credit rating.

Growth Without Volatility – APA’s Strategic Advantage

Retirees don’t just need income today — they also need it to grow over time to keep up with inflation. APA offers that, not through high-risk bets, but through measured infrastructure investment.

Here’s what APA is doing to grow income in the years ahead:

1. Diversifying beyond gas: APA is investing in electricity transmission and renewables, including wind, solar, and grid-scale batteries.
2. Green infrastructure focus: Projects like the Northern Goldfields Interconnect and Pilbara Energy assets support Australia’s shift to low-carbon energy.
3. Inflation-linked revenues: Many APA contracts are indexed to inflation, meaning your income potential grows over time.

APA’s long-term infrastructure projects are designed to deliver contracted, low-volatility returns — just what retirees need.

Risks to Consider

No stock is risk-free, and APA is no exception. Here are the key risks for income investors:

1. Interest rate sensitivity: As a capital-intensive business, APA carries significant debt. Rising interest rates could increase borrowing costs.
2. Regulatory risk: Energy infrastructure is highly regulated. Changes in policy or climate-related rules could impact returns.
3. Unfranked dividends: Unlike bank stocks or Telstra, APA’s payouts are unfranked — meaning retirees in tax-advantaged environments may receive slightly lower after-tax returns.

However, APA has shown strong capital discipline, and management is well-aware of these risks, managing them with conservative debt levels and diversified revenue streams.

Verdict: Yes, APA Is a Solid Pick for Retirement Income

So, can retirees count on APA Group (ASX: APA) for reliable income?

Absolutely — with a few caveats.

Pros:

1. Defensive, essential infrastructure business
2. High and consistent dividend yield (~6.8%)
3. Long-term contracts offering revenue visibility
4. Growth investments in clean energy and transmission
5. Strong cash generation and liquidity

Cons:

1. Dividends are unfranked
2. Rising interest rates could slow growth
3. Modest profit margins during investment cycles

For retirees who value stability and steady cash flow over flashy capital gains, APA is one of the most dependable ASX dividend payers. While it may not deliver explosive growth, its predictable income stream makes it a great core holding in a diversified retirement portfolio.

Final Thoughts: A Retirement-Friendly Stock for the Long Haul

If you’re approaching retirement or already living off your portfolio, APA offers exactly what you’re likely looking for: consistency, visibility, and resilience.

APA may not make headlines like tech stocks or miners, but its “slow and steady wins the race” approach is perfect for income-focused investors. With essential infrastructure, inflation-linked revenues, and a growing renewables arm, APA is built for the long term.

Bottom Line: For retirees seeking a dependable dividend payer with long-term visibility and solid cash flows, APA Group should definitely be on your income shortlist.

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

Why Lithium Stocks Are Heating Up Again

Lithium prices took a hit in 2024, but don’t be fooled — this is how big rallies begin. Just like previous cycles in 2016 and 2021, when lithium was down, it came back with full force. The global demand for electric vehicles, large-scale battery storage, and clean energy solutions continues to build rapidly.

According to the International Energy Agency, global electric vehicle sales are expected to reach 17 million units by 2025, up from 14 million in 2023. That means more batteries, and more batteries mean more lithium.

Smart investors are now scanning the ASX for underappreciated lithium stocks with the potential to surge in the next rally. Two standout names leading that list are Core Lithium and Liontown Resources.

Core Lithium (ASX: CXO)
A small, nimble player with serious upside potential

About the Company
Core Lithium owns the Finniss Lithium Project in the Northern Territory, located just 88 kilometers from Darwin Port. This is a hard-rock lithium project built for scalability, with excellent transport links and infrastructure already in place. Operations were paused in 2024 due to market conditions, but Core didn’t go silent. Instead, the company invested time and resources into preparing for a powerful comeback.

Why Core Lithium Could Surge

Restart-Ready and Waiting
The company is keeping the Finniss Project in a restart-ready state. It has completed condition assessments, upgraded infrastructure, and is progressing a Restart Study to resume production quickly when prices recover.

Resource Upgrade Strengthens the Case
In September 2024, Core announced a major ore reserve upgrade at its BP33 underground deposit. This move reinforces the long-term viability of the project and its profitability when lithium prices bounce back.

Exploration Potential
The company is actively drilling high-potential zones such as Blackbeard and Shoobridge. Early results have shown high-grade lithium pegmatites, signaling strong prospects for future resource growth.

Financial Snapshot (First Half of FY25)

1. Net loss reduced to 17.2 million from 167.6 million a year earlier.
2. Cash outflow from operations decreased by over 45%.
3. Cash and short-term investments stood at 50.3 million.

Investor Takeaway
Core Lithium is one of the best-positioned juniors to restart quickly and scale up when the lithium market turns. With fresh resources, strong exploration results, and a lean setup, it is a prime candidate for a breakout during the next battery boom.

Liontown Resources (ASX: LTR)
An emerging lithium producer with serious momentum

About the Company
Liontown Resources is now a producer, having officially commenced commercial production at the Kathleen Valley Lithium Project in early 2025. Located in Western Australia, this project has quickly become one of the top new lithium operations in the country.

Why Liontown Could Surge

Smooth Entry into Production
Liontown produced 116 thousand dry metric tonnes of spodumene concentrate by December 2024. The ramp-up phase exceeded expectations, proving the company’s ability to operate efficiently from the get-go.

Global Partnerships and Strong Backing
The company has signed long-term offtake agreements with major battery players, including LG Energy Solution, which also invested 250 million US dollars through convertible notes in July 2024. These partnerships add credibility and stable revenue streams.

Sustainable and Efficient Operations
The company achieved 80 percent renewable power penetration at its hybrid power station, beating its original target of 60 percent. It is also aiming for 70 percent lithium recovery by fiscal year 2026, promising better margins and greener operations.

Expansion is Already Underway
With over 1.3 million tonnes of ore stockpiled, Liontown is setting up a seamless transition from open-pit to underground mining in 2026, giving it the ability to maintain and grow production levels over time.

Financial Snapshot (First Half of FY25)

Total revenue came in at 100.41 million

Net loss narrowed by 50 percent year-on-year to 15 million

Cash and short-term investments stood strong at 192.87 million

Investor Takeaway
Liontown offers investors a more de-risked lithium story. With production underway, strong financial backing, and an environmentally responsible approach, this is a long-term growth story backed by real numbers and real production.

Looking Ahead: Which Lithium Stock Is Right for You

Whether you are after high-growth exploration or stable production-based returns, these two ASX lithium players offer compelling choices.

Core Lithium is perfect for investors looking for high-upside potential from a low base. With lean operations and multiple catalysts lined up, it is a prime candidate to benefit from a lithium price recovery.

Liontown Resources suits those who prefer a more established business model. With proven production, global customers, and financial stability, it offers a strong foundation for long-term value creation.

Final Thoughts

The lithium market may be quiet now, but all signs point to another strong upcycle. As electric vehicles continue to dominate global auto markets and renewable energy adoption accelerates, demand for lithium will only grow stronger.

Both Core Lithium and Liontown Resources are ready to ride that wave — the only question is, will you be on board when they take off?

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

Investment Risks and Market Warnings: All investments carry significant risk, and different investment strategies may carry varying levels of risk exposure including total loss of invested capital. The value of investments and income derived from them can fluctuate significantly due to market conditions, economic factors, company-specific events, regulatory changes, commodity price volatility, currency fluctuations, interest rate movements, and other factors beyond our control. Securities markets are subject to market risk from general economic conditions and investor sentiment, liquidity risk affecting the ability to buy or sell securities at desired prices, credit risk from issuer default or deterioration, operational risk from inadequate internal processes, sector-specific risks including industry regulatory changes, technology obsolescence, management changes, competitive pressures, supply chain disruptions, and mining-specific risks including resource estimation uncertainty, operational hazards, environmental compliance, permitting delays, commodity price cycles, geopolitical factors affecting mining operations, and exploration risks. Small-cap and speculative mining stocks carry additional risks including limited liquidity, higher volatility, dependence on key personnel, limited operating history, uncertain cash flows, and potential failure to achieve commercial production.

Information Accuracy and Limitations: While we endeavour to ensure information accuracy and reliability, we make no representations or warranties (express or implied) regarding the accuracy, reliability, completeness, timeliness, or suitability of information provided, except where liability cannot be excluded under applicable law. This report may include information from third-party sources including company announcements, regulatory filings, research reports, market data providers, financial news services, and publicly available information, which we do not independently verify and for which we assume no responsibility. Past performance, examples, historical data, or projections are not indicative of future results, and no guarantee of future returns is provided or implied. To the maximum extent permitted by law, Pristine Gaze Pty Ltd and Alpha Securities Pty Ltd, together with their respective directors, officers, employees, representatives, and related entities, exclude all liability for any errors, omissions, inaccuracies, loss or damage (including direct, indirect, consequential, or special damages) arising from reliance on information provided, investment decisions made based on this report, market losses, opportunity costs, and technical issues or system failures.

With gold trading near record highs (above A$3,200/oz), investor interest in the precious metal is heating up again. While major ASX gold stocks like Northern Star or Newmont may already be fully priced, there are still mid-cap miners offering real value with significant upside.

In this post, we highlight two standout ASX-listed gold mining stocks—Gold Road Resources (ASX: GOR) and Genesis Minerals (ASX: GMD)—that continue to trade at attractive levels despite their impressive production, growth pipelines, and improving financials.

If you’re looking for gold exposure without overpaying, these two names deserve a closer look.

1. Gold Road Resources (ASX: GOR)

A Mid-Tier Gold Producer with Exploration Upside

Gold Road owns a 50% interest in the world-class Gruyere Gold Mine in Western Australia, developed in partnership with Gold Fields. It’s a high-quality, long-life asset producing more than 330,000 ounces of gold annually, with plenty of upside.

FY24 Financial Highlights:

Revenue: $528 million (↑ 12% YoY)

Net Profit After Tax (NPAT): $142.7 million (↑ 23.3% YoY)

Operating Cash Flow: $250.6 million (↑ 7.3% YoY)

P/E Ratio: 24.39x

TTM Dividend Yield: 0.62%

These numbers reflect solid operational performance, a strong balance sheet, and the ability to self-fund both dividends and growth projects.

Key Growth Drivers:

1. Gruyere Mine Optimization
   Ongoing upgrades—including the addition of a third pebble crusher—are lifting plant throughput, targeting ~9.5Mt for FY25. With mine life stretching beyond 10 years, Gruyere remains a cornerstone asset.
2. Aggressive Exploration at Yamarna
   Gold Road holds a vast land package across the underexplored Yamarna Belt. Early-stage discoveries like Gilmour hint at the potential for future resource upgrades.
3. Gold Price Leverage
   As an unhedged producer, Gold Road benefits directly from rising spot prices. With low-cost production and no debt, the company is well positioned to maximize margins during this gold bull cycle.

Final Take: Gold Road

This is a low-risk, cash-rich gold stock with clear growth levers and exploration upside. While the dividend yield is modest, the strong operational cash flow and disciplined management make GOR a standout value buy in a high-priced sector.

2. Genesis Minerals (ASX: GMD)

A Fast-Scaling Gold Producer with High Growth Ambitions

Genesis Minerals has transitioned from a small explorer to one of the most dynamic emerging producers in WA’s prolific Leonora-Laverton gold corridor. It’s backed by strategic assets, an aggressive production ramp-up strategy, and growing institutional interest.

H1 FY25 Financial Highlights:

Revenue: $338.7 million (↑ 57% YoY)

NPAT: $59.8 million (↑ 149% YoY)

Operating Cash Flow: $140.9 million (↑ 86% YoY)

EBITDA Margin: 45%

P/E Ratio: 37.68x

Yes, the stock trades at a premium. But that’s backed by real growth, cost discipline, and a clear path to scale.

Key Growth Catalysts:

1. ASPIRE Strategy & Production Ramp-Up
   Genesis plans to grow annual production to 300,000 ounces by FY27, up from ~150,000–180,000 oz today. The restart of the Laverton mill and high-grade ore from Ulysses are helping accelerate this timeline.
2. Consolidated Operations = Cost Savings
   The company is cutting costs by centralizing operations and reusing infrastructure from the Dacian Gold acquisition.
3. Pipeline of New Mines
   Brownfield sites like Admiral and Puzzle are being rapidly developed. By spreading production across multiple assets, Genesis is building a resilient, scalable business model.

FY25 Outlook:

Guidance: 190,000–210,000 ounces

AISC: $2,200–2,400/oz

Capital Expenditure: Fully funded through internal cash

The story here is simple: Genesis is executing well, and its rapid production growth could lead to strong re-rating potential if gold prices remain elevated.

Final Take: Genesis Minerals

Genesis is a high-momentum, growth-first gold stock. While not “cheap” on valuation metrics, its future cash flows and asset expansion make it a top-tier pick for growth-oriented gold investors. If execution continues to match guidance, this could be a breakout name over the next 12–18 months.

Which One Should You Buy?

For Stability + Cash Flow → Go with Gold Road (GOR)
A steady performer with reliable production, strong balance sheet, and attractive risk-reward profile.

For Growth + Upside Potential → Choose Genesis Minerals (GMD)
Ideal for investors comfortable with higher valuation but seeking exposure to rapid production scale-up.

Both companies are well positioned to ride the next gold cycle, and both offer entry points that still look cheap relative to their long-term prospects.

Conclusion: A Golden Opportunity

Gold prices remain strong, inflation concerns persist, and geopolitical uncertainty lingers. In this environment, gold miners with low costs, strong growth plans, and solid balance sheets stand out.

Gold Road and Genesis are two such names on the ASX that offer real value, not hype. Whether you’re focused on income and capital preservation, or want to ride the next wave of gold sector growth, these stocks should be on your watchlist—or in your portfolio.

Disclaimer:

General Financial Product Advice and Regulatory Framework: Pristine Gaze Pty Ltd (ABN 66 680 815 678, ACN 680 815 678) operates as Corporate Authorised Representative (CAR No. 001312049) of Alpha Securities Pty Ltd (AFSL 330757), which is licensed and regulated by the Australian Securities and Investments Commission under the Corporations Act 2001 (Cth). This report contains general financial product advice only and has been prepared without consideration of your personal objectives, financial situation, specific needs, circumstances, or investment experience. The information is not tailored to individual circumstances and may not be suitable for your particular situation. Before acting on any information contained herein, you should carefully consider its appropriateness having regard to your personal objectives, financial situation, and needs, and consider seeking personal financial advice from a qualified financial adviser who can assess your individual circumstances and provide tailored recommendations.

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