To The Moon

Australian stocks took their biggest tumble in nearly two months on Friday, with the $S&P/ASX 200(XJO.AU)$ sliding 133.7 points, or 1.51%, to close at 8,744.40.

Renewed tensions in the Gulf rattled investors and erased close to A$50 billion in value from the market.

1. $Infratil(IFT.AU)$ +18.66%

Core Market Drivers

• Landmark CDC Data Centres contract: CDC (Infratil's key subsidiary, ~50% stake) secured Australia's largest-ever data centre deal — a 555 MW contract with a US investment-grade customer on a 30-year term (plus renewal options). This pushed total contracted capacity over 1 GW and dramatically boosted revenue/EBITDA visibility.

• Transformational earnings impact: The deal is expected to drive CDC EBITDAF >A$1B in FY28 and ~A$2B annualised at full deployment, reflecting AI/hyperscale demand in Australasia.

• Strong prior momentum and valuation support: Shares hit all-time highs (e.g., ~A$11.95–12.44 range post-announcement), with ~25%+ gains in the prior month. Recent CDC credit rating upgrade (Baa2) and capacity expansions added tailwinds.

• Sector tailwinds in digital infrastructure: Broader AI-driven data centre demand amplified the positive reaction.

2. $Greatland Resources Ltd(GGP.AU)$ +10.37%

Recent gains built on Q1/March 2026 strength and earlier resource upgrades, with positive sentiment into early May.

Core Market Drivers

• Strong March quarter production and cash build: Record or robust gold/copper output, with cash rising sharply (e.g., +$260M to ~$1.2B), underscoring operational strength at Telfer and low net debt/strong liquidity.

• Major Telfer resource upgrade (earlier catalyst with ongoing re-rating): ~150% increase to 8 Moz gold, at low discovery cost, enhancing asset value and supporting multi-mine growth ambitions in the Paterson Province.

• Commodity price tailwinds (gold/copper): High realised prices boosted revenues/profits; sector re-rating for gold producers.

• Balance sheet and growth platform: Debt-free or net cash position, high margins, and pipeline for further production/resource growth.

3. $EVOLUTION MINING LTD(EVN.AU)$ +7.41%

Gains tied to gold sector strength and company-specific results.

Core Market Drivers

• Record cash flow and balance sheet improvement: March quarter delivered strong operating cash flow (e.g., ~A$406M in prior updates), shifting to net cash position.

• Resource upgrades and production momentum: Recent resource updates and solid gold output amid high gold prices.

• Profit growth: HY26 results showed significant NPAT increases (e.g., +100%+ ranges in earlier reports).

• Gold price tailwinds: Elevated AUD gold prices supported margins and sector performance.

4. $FORTESCUE LTD(FMG.AU)$ +6.30%

Broader mining recovery and iron ore support.

• Iron ore price resilience/China demand signals: Prices held supportive levels (~US$100+/t range in periods), with positive China steel/production data aiding sentiment.

• Operational delivery: Record or strong shipments in prior halves (e.g., H1 FY26), low-cost profile.

• Sector rotation into miners: Improved risk sentiment and commodity tailwinds lifted iron ore peers.

• Dividend and cash flow appeal: High yields in strong price environments.

5. $BHP GROUP LTD(BHP.AU)$ +5.48%

• Record production and operational results: WAIO iron ore records; solid copper output with higher realised prices.

• Commodity tailwinds (iron ore + copper): Supportive prices, especially copper (AI/energy transition).

• Strong financials/cash flow: H1 results beat expectations with high EBITDA margins; reliable dividends.

• Sector-wide mining uplift: Broader positive sentiment in early May.