
Hammer Metals, a junior explorer focused on copper, gold and lithium in Queensland and WA, broke above resistance on strong Kalman drilling and a trading halt tied to a potential control deal, though overbought technicals and exploration risk remain.

Fortescue Ltd is a low-cost iron ore producer with strong cash flow and attractive fully franked dividends, but earnings remain highly exposed to iron ore prices and Chinese demand. Trading around mid-cycle valuation levels, the stock looks fairly valued, with upside dependent on stronger commodity prices and successful expansion into magnetite and green energy.

Fortescue (ASX: FMG) shares have rebounded on stronger iron ore prices, improving Chinese demand and solid shipments. Sentiment is also lifted by dividends and production strength, while its green energy transition and decarbonisation plans support long-term growth above A$20 momentum.
mining