IMDEX Shares Fall 7% in Risk-Off Session on ASX as
IMDEX Shares Fall 7% in Risk-Off Session on ASX as Investors Weigh Tech Firm's Record Results and Outlook

SYDNEY — Shares of IMDEX Ltd. rose almost 6% on Tuesday, extending a recovery from last week's sharp selloff as Australian stocks rallied to their highest level since August.

IMDEX shares gained 19 cents, or 5.79%, to A$3.47 in afternoon trading, after reaching as high as A$3.48. About 1.3 million shares changed hands, valuing the company at about A$1.8 billion.

The company did not release market-sensitive news on Tuesday.

Broad rally

IMDEX rose with the broader market. The ASX 200 was moving sharply higher, with gains across most sectors led by mining and technology stocks.

Smaller companies outperformed. The Small Ordinaries rose 1.6% to 3,282.7, outpacing the ASX 200.

Mining services and contractor stocks were among the biggest movers. Monadelphous jumped almost 14% after reaffirming its half-year guidance, while SRG Global and NRW Holdings each rose more than 5%.

Recovering from last week's drop

The gain continues a rebound. IMDEX shares had fallen nearly 7% to A$3.20 on Friday, Nov. 6, during a broad risk-off session triggered by a global selloff in technology stocks, before recovering on Monday.

Tuesday's close leaves the stock roughly flat over the past year.

What IMDEX does

The company provides technology to the global mining industry. IMDEX is an Australia-based global mining technology company whose offerings include drilling optimization products, cloud-connected rock knowledge sensors and data and analytics.

Its brands include AMC and REFLEX technologies, and products include IMDEXHUB-IQ, IMDEX MOBILE and the AMC range of drilling fluid and borehole stabilization products. Its geographical segments include the Americas, Asia Pacific, and Africa and Europe.

Strong recent results

IMDEX has reported solid growth this year. The company delivered record fiscal 2026 revenue of about A$520 million, up 21%, with normalized EBITDA rising about 29% and margins expanding, according to its full-year results released in August.

The company has also been expanding its technology offering through acquisitions of geophysical logging and borehole imaging businesses.

Tied to mining activity

IMDEX's fortunes are closely linked to mineral exploration and mining activity. Higher gold and copper prices typically encourage more drilling, which supports demand for its sensors, software and drilling products. The gold price rose again overnight before Tuesday's session.

That exposure cuts both ways. Analysts have noted the company's main risk is its cyclical exposure to mining activity, meaning a slowdown in exploration spending could weigh on revenue.

Volatility

The stock has swung widely over the past year. Over its recent 52-week period, IMDEX traded as high as about A$4.59 and as low as about A$2.55.

What's next

Investors will look for updates at the company's next trading update and half-year results, with exploration spending trends and commodity prices likely to drive sentiment in the near term.

This article is for informational purposes only and is not investment advice.