Minerals 260 Shares Climb Over 7% as Gold Rally Lifts Developer of Bullabulling Project in Western Australia

SYDNEY — Shares of Minerals 260 climbed more than 7% on Friday, as a rally in gold prices lifted Australian gold developers and producers.

Minerals 260 shares were up 5.5 Australian cents, or 7.29%, at 81 cents in afternoon trading, after reaching a high of 81.5 cents. The stock traded as low as 77.5 cents earlier in the session. Heavy volume of more than 4.7 million shares changed hands. The company has a market value of about 2 billion dollars.

Gold lifts sector

Gold futures rose about 2% overnight to around $4,190 an ounce, supported by a weaker U.S. dollar and lower Treasury yields. The rally helped Australian gold stocks recover after a weak session on Thursday.

Minerals 260 did not release any market-sensitive news on Friday.

A major gold project

Minerals 260 is developing the Bullabulling gold project, located about 25 kilometers southwest of Coolgardie in Western Australia's goldfields region. The company acquired the project in April 2025.

In July, the company released a pre-feasibility study and updated resource estimate showing a mineral resource of 6.2 million ounces of gold and a maiden ore reserve of 2.5 million ounces. The study outlined a 19-year operation producing about 150,000 ounces a year, with a post-tax net present value of 2.3 billion dollars and an internal rate of return of 43%.

Managing Director Luke McFadyen said the company's target of bringing Bullabulling into production by the end of 2028 would establish it as "the next mid-tier gold producer on the ASX."

Construction underway

Minerals 260 has begun early construction and development activities at the site, including a 400-person accommodation village expected to be operational in early 2027, water infrastructure and grade control drilling.

The company held about 211 million dollars in cash and deposits at the end of June and joined the ASX 200 index in June.

Strong performance

Minerals 260 shares are up about 125% over the past year, reflecting both record gold prices and progress at Bullabulling.

What's next

Investors will watch for updates on project approvals, a definitive feasibility study and financing plans as the company moves toward a final investment decision.