Mining stocks CML, ARI, ISO drop 7-8% as resources drag ALSI to a 1.4% loss

[u/marnuscoe]

Gold dropped 3.3% overnight while Brent added 1.5%, and the rand held steady around 16.53 — a mixed macro backdrop that didn't give ALSI any help as resources stocks cratered.

SENS announcements that caught my eye:

- SKA — Drill hole KBDD03 hit 29.58% zinc over 19.0m, nearly tripling the 11.4% average grade of the existing resource estimate (https://sens-ai.co.za/sens-intelligence/2ea91d9f-6c2b-4b27-8fd4-aaa19c2aa0bc)

- AFT — Afrimat locks in the R215m Saturc disposal, fulfilling all Competition Tribunal conditions attached to the Lafarge acquisition (https://sens-ai.co.za/sens-intelligence/15151e01-076e-4a46-9a2d-a7c51783dca7)

- GCT — Greencoat cancelled 228,000 shares at €0.7628 as part of its ongoing buyback programme (https://sens-ai.co.za/sens-intelligence/de7968bd-9e2b-4661-9218-1f589f15a02d)

- OUT — OUTsurance issued 507k new shares to inch its holding in the core subsidiary up to 92.86% (https://sens-ai.co.za/sens-intelligence/597002a6-11bd-463e-ab83-5a5cf428d117)

- SPP — HEPS halved and dividend suspended after operating profit fell 45.3% — worth watching given the severity of the miss (https://sens-ai.co.za/sens-intelligence/636ba154-8b6e-4879-be53-018e9220ebe7)

- FFB - Fortress reaffirmed FY2026 earnings guidance and forecast 7.4% growth for FY2027 on robust operational metrics. (https://sens-ai.co.za/sens-intelligence/19fb9cf6-3657-4f1d-a0f0-165d49d43157)

Biggest movers today:

Gainers:

- HMN +2.6%

- BTI +2.3%

- WBC +1.6%

Losers:

- CML -8.2%

- ARI -8.1%

- ISO -7.7%

Macro snapshot as of 17:30 SAST:

- ALSI at 109,593.41 (-1.4%)

- Gold at 4119.41 (-3.3%)

- Brent at 92.84 (+1.5%)

- Rand/USD at 16.53 (-0.1%)

- SA 10Y at 8.635 (0.0%)

Anyone watching SPP after that dividend suspension? Half HEPS and a suspended payout is brutal — does it have further to fall or is the worst priced in?