Hot Stocks: WAM Capital, Westgold Resources, Global Lithium, Hamelin Gold

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Australian shares extended a two-day winning streak on Friday, shaking off fears that a new order by Trump to impose reciprocal tariffs on trade partners could hit Australia.The ASX 200 rose and the The All Ordinaries Index also rallied.

WAM Capital (ASX:WAM) outperformed the S&P/ASX All Ordinaries Accumulation Index by 8.0% in the six months to 31 December 2024, with its investment portfolio rising 14.9%. Operating profit before tax increased 40.3% to $208.7m, while profit after tax rose 40.6% to $149.8m. The board declared a 7.75 cents per share interim dividend, partially franked at 60%, with an annualised yield of 9.6%. Total shareholder return for the period was 15.2%. Shares are trading 0.93% higher at $1.63.

Westgold Resources (ASX:WGX, TSX:WGX) posted a half-year profit before tax of $4.6m, down from $64.3m, due to $83.6m in acquisition costs. Revenue rose to $624m following its $1.4bn Karora merger. Gold production reached 158,255oz, with full-year guidance at 330,000–350,000oz. The company expanded its credit facility to $300m and remains unhedged to benefit from rising gold prices. Shares are trading 1.82% higher at $2.52.

Global Lithium (ASX:GL1) has appointed Dr Dianmin Chen as Managing Director and CEO, with Leon Zhu and David Sun joining the board. The company aims to secure a Native Title Mining Agreement for its Manna Lithium Project and enhance its investment appeal. A search for a Non-Executive Chairman is underway. Shares opened flat at 24 cents.

Hamelin Gold (ASX:HMG) has reported results from recent soil sampling at the Ularring gold project in Western Australia’s Eastern Goldfields.Managing Director Peter Bewick said the program identified a discrete gold anomaly and a clear drill target along the underexplored Ida Fault Zone. Shares are trading 12.7% higher at 6.2 cents.

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