Elixir Energy Falls 18% on Lorelle-3H Shut-In

Elixir Energy (ASX:EXR) shares fell 18.3% to 9.8 cents on Wednesday after the company shut down the Lorelle-3H flow test to manage production surges. The company will run a 2-3/8 inch tubing string to address surging, allowing the well to open past a choke setting and move into uniform single-phase flow. The shut-in also lets stimulation fluid soak longer, improving near-well-bore permeability, which could boost productivity. Managing Director Stuart Nicholls called the L3 well a watershed moment for the Taroom Trough, showing a northern extension of Shell's primary area plus strong results within the Tinowon 'Dunk' Sands. The risk going forward is whether the tubing fix works and production stabilises. A successful restart would reduce the near-term downside. Further delays or a weaker flow rate could push the stock lower. For more on Elixir, see the EXR stock page.

Dateline Resources (ASX:DTR) gained 6.25% to 17 cents after confirming extensive rare earth mineralisation at the Music Valley project in California. Mapping of the priority northwest geophysical target identified a 200-metre strike of the rare-earth-bearing Pinto Gneiss unit. Managing Director Stephen Baghdadi said the sampling confirmed rare earths at surface across the entire sampled area, with the northwest target being the biggest and most consistent zone. The discovery is a first step. The risk is that follow-up drilling fails to define an economic resource. Deeper sampling and metallurgical tests will determine whether the grade and tonnage support a mineable project.

RLF AgTech (ASX:RLF) jumped after completing a three-year commercial development program with a major Australian corporate grain grower. The program moved from initial field evaluation through demonstration to large-scale adoption across the grower's cereal and canola production. CEO Stuart Upton said the program showed positive yield responses across most paddocks, with the strongest and most consistent results in wheat over three seasons. The milestone reduces the risk that the Axioma Biologicals range cannot gain commercial traction. The next step is expanding adoption to other growers and crops.

Broader markets were higher. The ASX 200 rose 25.8 points, or 0.29%.