Azzet reports on three stocks with price moving updates today.
Fortescue slips after fast-tracking diesel elimination ~
Shares in Fortescue (ASX: FMG) were trading 2% lower by 1:25 pm AEST (3:25 am GMT) after the iron ore miner updated the market on plans to fast-track the elimination of fossil fuels across parts of its Pilbara operations as early as next year, after accelerating the development of a large-scale off-grid renewable energy system.
By early 2026, the Andrew Forrest-led miner wants to have completed 290MW of installed renewable capacity to meet the fixed energy requirements of its ore processing facilities, enabling daytime “green processing” across its Pilbara operations.
While the miner expects to run 24-hour operations without fossil fuels by early next year - well ahead of its previous Real Zero 2030 target – later in 2027, the system is expected to power all of the miner’s operations for 24-hour periods without fossil fuels.
A broader rollout also includes 1.2GW of solar, more than 600MW of wind and up to 5GWh of battery storage by 2028.
Fortescue expects the project to be the first fully integrated industrial green grid of its scale globally, with plans to replicate and commercialise the model for other large energy users.
“As global energy supply chains become increasingly unstable and the massive risks of fossil fuel dependence are exposed, Fortescue is moving faster – proving industry can power itself with green energy, control its costs, and take back control of its largest risk – energy,” the miner told shareholders this morning.
Given that Fortescue’s diesel elimination plans have been well disclosed to the market for some time, the seemingly underwhelming response to today’s update is not surprising.
While talk of the project being fast-tracked is clearly encouraging, what clearly crystallises today’s update for investors is the US$100 million in annual fossil fuel cost savings and C1 unit cost reductions of US$2-4 per wet metric tonne.
On a more academic note, what's arguably lost on the market are the technical complexities associated with the miner’s shift to a green energy grid, which clearly goes well beyond simple equipment replacement.
Despite today’s dip, Fortescue’s share price is up 34% over 12 months and up 6% over the last month.
Fortescue has a market cap of $62.2 billion.
While the stock’s 200-day moving average is trending upwards and highlights long-term investor interest in the stock, the 20-day moving average is falling as upward momentum wanes.
Consensus is Hold.
Jindalee Lithium soars on plans to go public in US
Shares in Jindalee Lithium (ASX: JLL) were trading 35.4% higher this morning after the mining junior, which holds one of the largest U.S. lithium resources, flagged plans to list on the Nasdaq following a merger with a special purpose acquisition company (SPAC).
Yesterday, HiTech Minerals, a subsidiary of Jindalee, told the market it had plans, together with Constellation Acquisition Corp - a company backed by Antarctica Capital - to create a new company called U.S. Elemental.
The deal – which will see Jindalee hold around 80% or more of U.S. Elemental – is expected to position the miner closer to U.S. capital markets, strengthen alignment with national priorities around critical minerals supply, and support the continued development of its projects.
With an implied value of $571 million, the transaction is expected to close in the 2H of 2026, which will see U.S. Elemental trading on the Nasdaq under the ticker symbol “ULIT”.
Commenting on today’s update, Jindalee CEO Ian Rodger told the market that the creation of U.S. Elemental would help “unlock the potential” of its lithium assets, headlined by the McDermitt deposit located in Oregon and near the Nevada border.
“The transaction is expected to position the company to access the capital and strategic partnerships needed to advance development,” Rodger said.
Considered to be amongst the largest lithium development assets in the U.S., McDermitt has a resource total of 21.5 million tonnes in lithium carbonate equivalent to support a multi-decade project life of 63 years.
Based on a 2024 pre-feasibility study, the proposed mine is expected to generate an estimated $3.2 billion net present value (8%) after tax and 17.9% internal rate of return, with planned production of approximately 47,500 tonnes per year during the first decade.
Its initial capital cost was pegged at approximately $3 billion.
To help advance Jindalee’s other U.S. lithium assets, such as the Clayton North project in Nevada, the miner is said to be contemplating a capital raise of $20-$30 million, including $4 million from Antarctica Capital.
Jindalee has a market cap of $68 million; the share price is up 152% in one year and up 59% in the last week.
The stock’s shares have been in a downtrend confirmed by multiple indicators.
In the medium-term, the 5-day moving average is beneath the 50-day moving average.
Consensus does not cover this stock.
Telix Pharma jumps on FDA update
Shares in Telix Pharmaceuticals (ASX: TLX) were trading 6.1% higher after the radiopharmaceuticals company told the market that the U.S. Food and Drug Administration (FDA) had accepted its resubmitted New Drug Application (NDA) for TLX101-Px (Pixclara), which is a potential imaging agent for brain cancer.
At face value, this acceptance – which is not approval - is a significant step forward for Telix, given that it moves the product further along the regulatory pathway and reduces uncertainty around timing.
However, investors should remember that FDA approval is by no means a fait a complit.
Commenting on today’s update, Kevin Richardson, CEO of Telix Precision Medicine, told the market that the FDA’s acceptance of its NDA resubmission is an important milestone for Telix.
“We appreciate the FDA’s constructive engagement and look forward to working closely with the Agency to urgently obtain approval and then bring this product to market for the benefit of patients.”
It’s understood that a standard NDA review typically takes around 10 to 12 months, while a Fast Track designation can shorten that to around six months.
While the pharma’s precision imaging business, especially Illuccix, is already seeing strong commercial adoption and generating high-margin revenue, NDA approval by September could lead to a major re-rating for the stock.
Pixclara would be the first FDA-approved amino acid PET imaging agent for brain cancer in the U.S.
Today’s market update follows UBS’s recent buy rating on the pharma with a $31.00 price target.
The broker suspects Telix shares could more than double in value from current levels and noted:
“The major short term catalyst is the regulatory update for TLX101 (Pixclara). The company has re-submitted the NDA and is now awaiting confirmation that the resubmission is accepted for review (which is a virtual certainty) at which time the FDA will also publish a PDUFA date. We expect a review period of 6 to 8 months hence earliest possible approval is 4Q CY26,” UBS said.
“The company continues to make good progress on multiple pipeline products. Short-term news flow includes acceptance by the FDA of the resubmitted NDA for Pixclara and the amendment to the IND for TLX591 (prostate cancer Tx). We maintain our Buy rating. FY26 EBITDA is increased by ~US$21m to US$55.3m.”
Telix Pharmaceuticals is a market cap of $4.8 billion; the share price is up 45% in one year and up 40% in the last month.
The stock’s shares appear to be in a long-term bearish trend, confirmed by a falling 200-day moving average.
However, there are rallies occurring at shorter timeframes.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
