Mayank Bansal is a CFA Charterholder and heads the Equity Research team at Kapitales Research, with over 5 years of experience analysing global equity markets. He leads fundamental, data-driven research combining rigorous financial analysis with macro trends.
3 ASX Small Caps Surge Up to 17% on Maiden Gold Profit and Lithium Merger Progress
Source: Kapitales Research
Highlights
A Western Australian gold miner posted a maiden full-year net profit of AU$51.3 million on 21 September 2026, and its shares rose 16.666%.
A European-focused lithium developer registered its merger scheme booklet with ASIC, with shareholder meetings set for 22 October 2026.
An international education group confirmed a new director's appointment as its shares jumped more than 17%.
Three ASX-listed companies closed sharply higher on 21 September 2026. One reported its first full year as a gold producer, another moved closer to a NASDAQ merger, and a third continued a board refresh during a difficult stretch for its sector. Here is what each disclosed.
How the shares moved
IDP Education (ASX: IEL): up AU$0.265 (17.377%) to AU$1.790.
Meeka Metals (ASX: MEK): up AU$0.020 (16.666%) to AU$0.140, on the day of its maiden profit.
European Lithium (ASX: EUR): up AU$0.054 (14.285%) to AU$0.440.
Meeka Metals turns profitable
Meeka Metals released audited FY26 results on 21 September 2026, covering its first full year of production at the Murchison Gold Project. Revenue reached AU$160.8 million, operating cash flow AU$89.8 million and net profit after tax AU$51.3 million. The company produced 28.8koz at an AISC of AU$2,956/oz and ended June with AU$37.9 million in cash and no hedging.
Weather and weak contractor productivity hurt the second half, prompting Meeka to end open pit mining in July 2026. Underground development at Andy Well has reached about 600m a month, and a second underground mine at Turnberry is due to start in September 2026.
European Lithium advances CRML deal
European Lithium's scheme booklet for its acquisition by NASDAQ-listed Critical Metals Corp was registered by ASIC on 15 September 2026. Holders stand to receive 0.025–0.045 CRML shares per EUR share, illustratively valued at AU$0.41. The independent expert judged the share scheme not fair but reasonable. Meetings are scheduled for 22 October 2026. Separately, on 18 September the company applied to quote 1,903,984 shares issued from option exercises at AU$0.10 each.
IDP Education continues board refresh
IDP Education lodged an initial director's interest notice for Anne Brennan, who joined the board on 14 September 2026 holding no securities.
The bigger picture
Only Meeka's gain lines up directly with news released on the day. For IDP and European Lithium, the filings provide context rather than a clear trigger, particularly as European Lithium now trades above the booklet's illustrative AU$0.41 scheme value
Note- All data presented is based on information available at the time of writing.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
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Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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3 ASX Small Caps Surge Up to 17% on Maiden Gold Profit and Lithium Merger Progress
Highlights
Three ASX-listed companies closed sharply higher on 21 September 2026. One reported its first full year as a gold producer, another moved closer to a NASDAQ merger, and a third continued a board refresh during a difficult stretch for its sector. Here is what each disclosed.
How the shares moved
Meeka Metals turns profitable
Meeka Metals released audited FY26 results on 21 September 2026, covering its first full year of production at the Murchison Gold Project. Revenue reached AU$160.8 million, operating cash flow AU$89.8 million and net profit after tax AU$51.3 million. The company produced 28.8koz at an AISC of AU$2,956/oz and ended June with AU$37.9 million in cash and no hedging.
Weather and weak contractor productivity hurt the second half, prompting Meeka to end open pit mining in July 2026. Underground development at Andy Well has reached about 600m a month, and a second underground mine at Turnberry is due to start in September 2026.
European Lithium advances CRML deal
European Lithium's scheme booklet for its acquisition by NASDAQ-listed Critical Metals Corp was registered by ASIC on 15 September 2026. Holders stand to receive 0.025–0.045 CRML shares per EUR share, illustratively valued at AU$0.41. The independent expert judged the share scheme not fair but reasonable. Meetings are scheduled for 22 October 2026. Separately, on 18 September the company applied to quote 1,903,984 shares issued from option exercises at AU$0.10 each.
IDP Education continues board refresh
IDP Education lodged an initial director's interest notice for Anne Brennan, who joined the board on 14 September 2026 holding no securities.
The bigger picture
Only Meeka's gain lines up directly with news released on the day. For IDP and European Lithium, the filings provide context rather than a clear trigger, particularly as European Lithium now trades above the booklet's illustrative AU$0.41 scheme value
Note- All data presented is based on information available at the time of writing.
Disclaimer for Kapitales Research
The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.Disclosure: The information mentioned above has been sourced from the company reports and a third-party database, i.e. Koyfin. Investors are advised to use strict stop-loss to protect their investments in case of any unfavorable/uncertain market events.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au